Mari Energies Ltd (MARI) has achieved a second discovery at the Spinwam-1 well in the Waziristan Block, KPK (working interest: 55%), with tested flows of 20.5mmcfd of gas and 117bpd of oil.

Notably, first discovery at Spinwam-1 was announced in late Feb’25, with the latest find bringing cumulative production potential to 33.4mmcfd of gas and 137bpd of oil. We estimate Spinwam-1 well to contribute annualized EPS impact of PkR3.48/sh for MARI and PkR0.62/sh for OGDC.

Courtesy – AKD Research