Pakistan Stock Exchange Limited has been informed that a Joint Venture of Dars West Development and Production Lease (D&PL) comprising Oil & Gas Development Company Limited (OGDCL) as Operator (77.5 %) & GHPL (22.5 % carried) has discovered Gas & Condensate from its exploratory efforts into “C” Sands of Lower Goru Formation over Development Well Dars West # 02, located in district Tando Allah Yar, Sindh Province.

The structure of Dars West Well # 02 was drilled and tested using OGDCL’s in-house expertise. The well was drilled down to a depth of 2081 Meters. The well has tested 8.51 Million Standard Cubic Feet per Day (MMSCFD) gas, 360 Barrels Per Day (BPD) condensate through choke size 32/64″ at Well Head Flowing Pressure 1947 Pounds per Square Inch (PSI) from Lower Guru C-Sand (Exploratory Zone).

The discovery of Dars West Well # 02 results from the aggressive exploration strategy adopted by the Company. It would add to the hydrocarbon reserves base of the OGDCL, Joint Venture Partners and of the Country.