OIL AND GAS DEVELOPMENT COMPANY LIMITED
CONDENSED CONSOLIDATED INTERIM BALANCE SHEET [UNAUDITED]
AS AT 31 MARCH 2008
			Un-audited	Audited				Un-audited	Audited
			31 March	30 June				31 March	30 June
			2008	2007				2008	2007
		Note	(Rupees '000)				Note	(Rupees '000)
SHARE CAPITAL AND RESERVES					NON CURRENT ASSETS
						Fixed assets
	Share capital		43,009,284	43,009,284		Property, plant and equipment	5	22,606,475	21,810,882
						Development and production assets - intangible	6	33,011,559	29,311,570
	Capital reserve		3,452,044	3,274,228		Exploration and evaluation assets	7	6,681,277	6,365,706
								62,299,311	57,488,158
	Unappropriated profit		65,598,225	60,652,540		Long term investments		2,589,169	2,610,267
			112,059,553	106,936,052		Long term loans and receivables		1,464,275	1,685,589
						Long term prepayments		207,680	39,821
								66,560,435	61,823,835
NON CURRENT LIABILITIES					CURRENT ASSETS
						Stores, spare parts and loose tools		16,094,245	13,605,051
	Deferred taxation		14,654,728	11,078,919		Stock in trade		107,068	93,788
	Deferred employee benefits		1,295,866	1,423,132		Trade debts	8	34,015,391	28,018,145
	Provision for decommissioning cost		6,630,602	6,049,620		Loans and advances		1,979,323	1,540,689
			22,581,196	18,551,671		Deposits and short term prepayments		262,044	293,130
CURRENT LIABILITIES						Interest accrued		103,637	318,444
						Other receivables		867,397	1,335,255
	Trade and other payables	3	20,760,122	11,259,069		Advance tax		2,245,417	5,700,810
						Other financial assets	9	20,281,122	19,153,959
						Cash and bank balances		12,884,792	4,863,686
CONTINGENCIES AND COMMITMENTS		4						88,840,436	74,922,957
			155,400,871	136,746,792				155,400,871	136,746,792
The annexed notes 1 to 16 form an integral part of this condensed consolidated interim financial information.
Chairman and Chief Executive									Director

OIL AND GAS DEVELOPMENT COMPANY LIMITED
CONDENSED CONSOLIDATED INTERIM PROFIT AND LOSS ACCOUNT [UNAUDITED]
FOR NINE MONTHS ENDED 31 MARCH 2008
		Three months ended 31 March		Nine months ended 31 March
		2008	2007	2008	2007
	Note	(Rupees '000)
Sales - net	10	32,055,233	25,635,955	88,877,523	75,312,339
Royalty		(3,408,980)	(2,761,530)	(10,786,277)	(8,238,538)
Operating expenses		(4,164,615)	(4,387,374)	(12,802,052)	(12,579,957)
Transportation charges		(401,600)	(301,075)	(981,774)	(813,035)
		(7,975,195)	(7,449,979)	(24,570,103)	(21,631,530)
Gross profit		24,080,038	18,185,976	64,307,420	53,680,809
Other income		704,838	838,161	2,207,317	3,090,248
Exploration and prospecting expenditure		(1,299,781)	(1,337,555)	(5,382,562)	(5,202,339)
General and administration expenses		(213,646)	(314,693)	(860,224)	(775,979)
Finance costs		(157,062)	(130,487)	(455,183)	(392,797)
Workers' profit participation fund		(1,156,541)	(862,878)	(2,992,035)	(2,533,713)
Share of profit in associated company		12,091	10,788	32,868	33,874
PROFIT BEFORE TAXATION		21,969,937	16,389,312	56,857,601	47,900,103
Taxation		(9,757,738)	(4,817,988)	(20,552,369)	(13,403,419)
PROFIT FOR THE PERIOD		12,212,199	11,571,324	36,305,232	34,496,684
Earnings per share - basic and diluted (Rupees)	11	2.84	2.69	8.44	8.02
The annexed notes 1 to 16 form an integral part of this condensed consolidated interim financial information.
Chairman and Chief Executive					Director

OIL AND GAS DEVELOPMENT COMPANY LIMITED
CONDENSED CONSOLIDATED INTERIM CASH FLOW STATEMENT [UNAUDITED]
FOR NINE MONTHS ENDED 31 MARCH 2008
		Nine months ended 31 March
		2008	2007
		(Rupees '000)
Cash flows from operating activities
Profit before taxation		56,857,601	47,900,103
Adjustments for:
	Depreciation	2,193,771	2,363,640
	Amortization of development and production assets	3,051,194	2,833,298
	Royalty	10,786,277	8,238,538
	Workers' profit participation fund	2,992,035	2,533,713
	Provision for employee benefits	504,251	339,276
	Unwinding of discount on provision for decommissioning cost	447,937	388,762
	Interest income	(1,827,686)	(2,850,716)
	Unrealized gain on investments at fair value through profit or loss	(5,902)	(2,270)
	Dividend income on NIT units	(28,150)	(26,334)
	Gain on disposal of property, plant and equipment	(303)	(22,744)
	Interest income on long term receivables	(43,910)	(97,026)
	Share of profit in associated company	(32,868)	(33,874)
	Provision for doubtful advances	(9,864)	-
		74,884,383	61,564,366
Working capital changes
(Increase)/decrease in current assets:
	Stores, spare parts and loose tools	(2,489,194)	(4,753,499)
	Stock in trade	(13,280)	(8,256)
	Trade debts	(5,997,246)	(9,457,963)
	Deposits and short term prepayments	31,086	(11,949)
	Advances and other receivables	1,845	636,534
Increase/(decrease) in current liabilities:
	Trade and other payables	(2,124,053)	(218,614)
Cash generated from operations		64,293,541	47,750,619
	Royalty paid	(8,682,314)	(6,920,613)
	Employee benefits paid	(631,517)	(246,378)
	Received from workers' profit participation fund	302,383	31,949
	Income taxes paid	(13,521,166)	(19,415,498)
		(22,532,614)	(26,550,540)
	Net cash from operating activities	41,760,927	21,200,079
Cash flows from investing activities
	Fixed capital expenditure	(9,925,737)	(9,629,125)
	Interest received	2,222,467	3,145,409
	Dividend received	52,081	49,854
	Purchase of investments	(200,000)	(250,000)
	Proceeds from encashment of investments	50,061	41,065
	Proceeds from disposal of property, plant and equipment	2,967	24,901
	Long term prepayments	(167,859)	19,369
Net cash used in investing activities		(7,966,020)	(6,598,527)
Cash flow from financing activities
	Dividend paid	(24,652,541)	(24,129,901)
Net cash used in financing activities		(24,652,541)	(24,129,901)
Net increase/(decrease) in cash and cash equivalents		9,142,366	(9,528,349)
Cash and cash equivalents at beginning of the period		23,737,736	37,394,351
Cash and cash equivalents at end of the period		32,880,102	27,866,002
The annexed notes 1 to 16 form an integral part of this condensed consolidated interim financial information.
Chairman and Chief Executive			Director

OIL AND GAS DEVELOPMENT COMPANY LIMITED
CONDENSED CONSOLIDATED INTERIM STATEMENT OF CHANGES IN EQUITY [UNAUDITED]
FOR NINE MONTHS ENDED 31 MARCH 2008
	Share	Capital reserve		Unappropriated	Total
	capital	Bonus shares	Specific	profit	equity
	(Rupees '000)
Balance at 30 June 2006	43,009,284	836,000	2,219,027	55,400,544	101,464,855
Final dividend 2006: Rs 3.75 per share	-	-	-	(16,128,482)	(16,128,482)
First interim dividend 2007: Rs 1.75 per share	-	-	-	(7,526,625)	(7,526,625)
Second interim dividend 2007: Rs 1.75 per share	-	-	-	(7,526,625)	(7,526,625)
Transfer to capital reserve	-	-	166,655	(166,655)	-
Profit for nine months	-	-	-	34,496,684	34,496,684
Total recognized income for the period	-	-	-	34,496,684	34,496,684
Balance at 31 March 2007	43,009,284	836,000	2,385,682	58,548,841	104,779,807
Balance at 30 June 2007	43,009,284	836,000	2,438,228	60,652,540	106,936,052
Final dividend 2007: Rs 3.50 per share	-	-	-	(15,053,249)	(15,053,249)
First interim dividend 2008: Rs 1.75 per share	-	-	-	(7,526,625)	(7,526,625)
Second interim dividend 2008: Rs 2.00 per share	-	-	-	(8,601,857)	(8,601,857)
Transfer to capital reserve	-	-	177,816	(177,816)	-
Profit for nine months	-	-	-	36,305,232	36,305,232
Total recognized income for the period	-	-	-	36,305,232	36,305,232
Balance at 31 March 2008	43,009,284	836,000	2,616,044	65,598,225	112,059,553
The annexed notes 1 to 16 form an integral part of this condensed consolidated interim financial information.
Chairman and Chief Executive					Director