PPL has informed the PSX today that, as part of our continuous efforts to increase oil and gas production, production has commenced from Adhi South-8, a new development well drilled in Adhi Mining Lease w. The company, with a 39% working interest, operates the well along with its Joint Venture partners, Oil & Gas Development Company Limited (OGDCL) and Pakistan Oilfield Limited (POL), with working interests of 50% and 11%, respectively.

Adhi South-8 was successfully drilled to a depth of 3,460 meters and completed as a producer based on encouraging log results. After the well’s tie-in with the plant, production from the well has commenced at the rate of 550 barrels per day (bpd) of oil and 0.8 million standard cubic feet per day (MMscfd) of gas at 36/64” choke.

This additional indigenous hydrocarbon production will contribute to reducing the energy demand and supply gap and save the country significant foreign exchange.

The foregoing information is submitted in compliance of Section 96 of the Securities Act, 2015 and Clause 5.6.1 of the Pakistan Stock Exchange Limited Regulations, for dissemination amongst your members.