PPI Original Text (PPI-OT) – Pakistan Oilfields Limited’s material information

Karachi, June 01, 2012 (PPI-OT): In accordance with the Listing Regulations, as per information received from MOL, the operator of the TAL Block, hydrocarbons have been encountered in Appraisal well Makori East-2, which has been drilled and is currently under testing phase. As a result of Drill Stem Test (DST) conducted at Lockhart Formation, the well has tested 4,106 bbls per day of oil (API gravity 37) and 14.5 MMscf of gas per day @ 32/64” fixed choke size at flowing wellhead pressure of 4531 psi while Lumshiwal and Hungu formations have tested 794 bbls per day of oil (API gravity 38) and 2.5 MMscf of gas per day @ 32/64″ fixed choke size at flowing wellhead pressure of 795 psi. An Acid job is also planned in Lumshiwal and Hungu formations in order to stimulate these formations.

The well is planned to be produced simultaneously from Lockhart, Lumshiwal and Hungu formations and actual flow rate may differ from the rates mentioned above. Production from the well is expected to start from the month of October, 2012.

A drill stem test (DST) is a procedure for isolating and testing the surrounding geological formations through the drill stem. The test is a measurement of pressure behavior at the drill stem and is a way to obtain important fluid sampling information and to establish the probability of commercial production. Accordingly it should be borne in mind that actual production may differ significantly from the test result.

The pre-commerciality working interest of Pakistan Oilfields Limited (POL) is (25%).

For more information, Contact:
Syed Khalid Nafees Zaidi
Company Secretary
Pakistan Oilfields Limited
P.O.L. House, Morgah,
Rawalpindi 46600 Pakistan
Tel: +92-51-5487589-97(9 Lines)
Telefax: +92-51-5487598-99(2 Lines)
Email: polcms@pakoil.com.pk
Web: www.pakoil.com.pk

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