PPL becomes preferred bidder for purchase of 100% share of MND E and P – Alfalah Securities Limited

Karachi, June 26, 2012 (PPI-OT): Pakistan Petroleum Limited (PPL) has been nominated as the preferred bidder for purchase of 100% share of MND Exploration and Production Ltd.

According to Alfalah Securities Limited, MND is a wholly-owned subsidiary of KKCG SE and incorporated in the United Kingdom. Its non-operated assets in Pakistan include: Sawan Development and Production lease (7.8947%) and Exploration Licenses in Ziarat Block (40%) and Barkhan (50%). Additionally, MND holds 20% non-operated participating interest of Block-3 in Yemen. PPL currently holds 26.18% working interest in Sawan Field and 35% interest in Barkhan and it would have an added benefit after acquiring additional stake in fields.

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