Discovery of Gas Condensate at Mangrio Well # 01

DISCOVERY OF GAS CONDENSATE AT MANGRIO WELL # 01

By the grace of Almighty Allah, the joint venture of Nim block comprising
Oil and Gas Development Company Limited (OGDCL) as operator (95%) and Government
Holding Private Limited (GHPL) (5% carried) has discovered gas and condensate from its
exploratory cum appraisal Well, Mangrio #01, which is located in district Tando Muhammad
Khan, Sindh Province.

2. The structure of Mangrio Well #01 was drilled and tested using OGDCL's in house
expertise. The well was drilled down to the depth of 2676 Meters. The well has tested 10.44
MMSCFD gas, 120 BPD condensate through choke size 32/64" at Wellhead flowing pressure
2085 Psi from lower Guru B-Sand.

3. The discovery of Mangrio Well # 01, is the result of aggressive exploration strategy
adopted by the company. It has opened a new avenue and would add to the hydrocarbon
reserves base of the OGDCL and of the country.