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          This is further to our letter of even number dated July 23, 2008 of Exploratory Well Kunnar South 01, located in district Tando Allah Yar, Sindh province. The short duration initial testing results of Zone-02 in massive sands of Lower Goru formation pertaining to Kunnar South Well No. 1 are tabulated as under:

2. Annex-I

3. Highlights

4. Consolidated Accounts with Notes - Annex-II

5. OGDCL- Only Accounts with Notes - Annex -III

By the grace of Almighty Allah, Oil and Gas Development Company Limited (OGDCL) has discovered gas / condensate in its Exploratory Well Kunnar South 01, located in district Tando Allah Yar, Sindh province.

2.         Kunnar South Well No. 01 structure was delineated in Tando Allah Yar E.L. license area, which is a joint venture between OGDCL (Operator) and GHPL having 95% and 5% working interests, respectively.  The well was drilled and tested using OGDCL in-house expertise to the target depth of 3355 meters.  Based on drilled and log data, 03 zones were selected for testing.  Production testing of Zone-1 (Massive-Sands) of Lower Goru Sand started on July 21, 2008, which proved productive.  The short duration initial testing results of Zone-01 are tabulated as under:

Public Hearing of Environmental Impact Assessment (EIA) Report of Thal Block

2.Consolidated Accounts

3.Notes on Consolidated Accounts

4.OGDCL Accounts

5. Notes on OGDCL Accounts

6.Highlights

By the grace of Almighty Allah, Oil and Gas Development Company Limited (OGDCL) has discovered gas and condensate in its Exploratory Pakhro Well No. 01.  The well is located in district Hyderabad of Sindh Province.  It is a joint venture well between OGDCL (95% - Operator) and GHPL.

2.         Pakhro Exploratory Well No. 01 structure was delineated in NIM Exploration Licence area and was drilled down to the depth of 3692 meters, targeting to test the potentials of Sands of Lower Goru Formation of Creataceous age.  Based on log data, 03 zones were selected for testing.  Production testing of Zone-3 (Basal Sands) of Lower Goru Sand member proved to be productive.  The short duration initial testing results of Zone-03 are tabulated as under:

By the grace of Almighty Allah, Oil and Gas Development Company Limited (OGDCL) has discovered gas and condensate in its Exploratory Moolan North Well No. 01. 

Moolan North Well No. 01 structure was delineated in Lashari D&PL area, falling in district Hyderabad of Sindh Province.  The well was drilled down to the depth of 2329 meters.  The initial testing results are tabulated as under:

Declaration of 2nd Interim Dividend (D-27)

OGDCL HY 2007/08 Results Presentation

1.Dividend Announcement

2.Consolidated Accounts

3.Notes on Consolidated Accounts

4.OGDCL Accounts

5 Notes on OGDCL Accounts

6.Highlights

            By the grace of Almighty Allah, Oil and Gas Development Company Limited (OGDCL) has discovered gas and condensate in its Exploratory Pasakhi East Well No. 01.  This well is located in district Hyderabad of Sindh province.  It is a joint venture well between OGDCL (95%) and GHPL (5%) with OGDCL as operator.

2.         Pasakhi East Well No.01 structure was delineated in Tando Allah Yar E.L. licence area, drilled and tested by OGDCL in-house expertise.  The well was drilled down to the depth of 3407 meters, targeting to test the potentials of Sands of Lower Goru Formation of Cretaceous Age.  Based on log data, 02 zones were selected for testing.  Production testing of Zone-1 (Massive-Sands) of Lower Goru Sand started on January 21, 2008, which proved productive.  The short duration initial flow rate testing results of Zone # 01 are as under:

Moolan Well No.01 structure was delineated in Lashari D&PL licence area and drilled down to a depth of 2,421 meters, targeting to test the potentials of Sands of Lower Goru Formation of Cretaceous Age.  Based on log data, two zones were selected for testing.  Production testing of Zone-1 (C&D-Sands) of Lower Goru Sand member started on November 03, 2007, and Zone-II (A&B Sands) started on November 11, 2007, which proved productive. The short duration initial testing results of Zone # 01 & 02 are as under:

1.Dividend Announcement

2.Consolidated Accounts

3.Notes on Consolidated Accounts (Jul - Sep 2007)

4.OGDCL Accounts

5 Notes on OGDCL Accounts (Jul - Sep 2007)

6.Highlights

OGDCL FY 2006/07 Results Presentation

1.Dividend Announcement

2.Consolidated Accounts

3.Notes on Consolidated Accounts-2007

4.OGDCL Accounts

5 Notes on OGDCL ONLY Accounts - 2007

6.Highlights

Dhachrapur well No. 01 was drilled down to the depth of 3495 meters.  Based on drilling & electric log data, two zones were selected for testing.  Production testing of Zone-1 (massive-Sands) of Lower Goru Sand member started on April 16, 2007, which proved productive.  The short duration initial testing results at a wellhead flowing pressure of 2400 Psi are as under:

   The potential of additional Zone-2 of Lower Goru Formation in the well will be tested shortly.

Kunnar West No. 01A structure was delineated in Kunnar Mining Lease area and the well was drilled down to a depth of 4065 meters.  On the basis of open hole logs, two zones of Massive Sands of Lower Goru Formation were selected for testing.  Production testing of Zone-1 (Massive Sands) of Lower Goru formation started on April 23, 2007, which proved productive.

The short duration initial testing results are as under:

The potential of additional Zone-2 (Massive Sand) of Lower Goru formation in the well will be tested shortly.

The well was spudded-in on 12th May, 2006 and drilled down to the depth of 4828 M targeting to test the potentials of Kingriali, Datta, Shinwari, Samanasuk & Lumshiwal formations. Furthermore, we would like to inform you that Kingriali, Datta & Shinwari formations had never been tested earlier in Dakhni Mining Lease.

The well testing started on 10th March, 2007. During testing, Kingriali, Shinwari & Lumshiwal were proved as non-producing horizons, however, Datta formation proved to be hydrocarbon-bearing.

After completing the well in Datta formation on 14th April, 2007, acid stimulation job was carried out on 20th April, 07. The post stimulation results are as under: