MOL Pakistan, the operator of the TAL Block in Kohat, discovered a second formation, Kawagarh-1, in the successful exploratory well Razgir-1.

Discovery includes 159bpd of condensate and 16.4mmcfd of gas. Post-commerciality interests for OGDC, PPL, and POL stand at 27.8%, 27.8%, and 21.05%, respectively. This discovery brings the cumulative production for Razgir-1 to 409bpd of condensate and 36.4mmcfd of gas.

We estimate that the discovery of Kawagarh-1 will result in a positive EPS impact for OGDC/PPL/POL of PkR0.27/0.43/3.1 per sh for FY25E earnings, respectively.

Courtesy – AKD Research