According to a notification from HUBC at the Pakistan Stock Exchange (PSX), it states that in accordance with the applicable provisions of Section 96 of the Securities Act, 2015, and Rule 5.6.1. (a) of the PSX Rule Book regarding Prime International Oil and Gas Company Limited (Prime), which is a joint venture of Hub Power Holdings Limited (a wholly owned subsidiary of The Hub Power Company Limited).
In this regard, we are pleased to inform that, subject to approval from regulatory authorities and completion of legal and procedural formalities, Prime’s wholly owned subsidiary, Prime Global Energies Limited, has been provisionally awarded exploration rights over 4 (four) onshore blocks with other partners, namely Pakistan Petroleum Limited (PPL), Mari Energies Limited (Mari) and Oil and Gas Development Company Limited (OGDCL), as more particularly detailed below:
Block No. 2465-5 (Sapat Bandar): Prime is the Operator and has a 31% share;
Block No. 2267-3 (Zarrar): 20% share;
Block No. 2367-6 (Keti Bandar): 20% share; and
Block No. 2466-10 (Bin Qasim South): 20% share.
