Mari Energies Ltd (MARI) has achieved a milestone, its fourth discovery at the Spinwam-1 well in the Waziristan Block, KPK (working interest: 55%), with tested flows of 70.3mmcfd of gas and 310 bpd of oil (at choke size of 64/64”). The latest discovery is anticipated to push cumulative output from the field to 127.6mmcfd of gas and 569bpd of oil.

We estimate Spinwam-1 well to contribute an annualized EPS impact of PkR13.35/sh for MARI and PkR2.37/sh for OGDC. Notably, the incremental EPS impact from the latest find is PkR7.4/1.3 per share for MARI and OGDC, respectively.

Courtesy – AKD Research