Page 7 - Pakistan Oilfields Limited - Condensed Interim Financial Statements Six Months Period Ended December 31, 2023

Adhi South-5 tested to the target depth and not produced any hydrocarbons, frac job was also not successful. Now,
Adhi South -5 has been side tracked and fishing operations are going on due to hole collapse.
Adhi-35 well was spuded on January 27, 2023 and drilling at 4,072 ft is in progress. The target depth is around
12,028 ft.
Exploration Blocks
At Ikhlas block (operated by POL with 80% share), Jhandial well -3 is in the planning phase.
At DG Khan block (operated by POL with a 70% share), DGK-1, exploratory well drilled down to 15,206 ft but
clearance of hole was not achieved to acquire hole logs. During conditioning 455 ft of fish left in hole and despite
several attempts no success was made to recover the fish. Placed cement plugs and tested Chiltan formation but no
hydrocarbons were flowed. Finally the well was plugged and abandoned. Remaining leads of DG Khan Block are
under evaluation.
North Dhurnal block (operated by POL with 60% share) seismic acquisition design to acquire 3D Seismic data is in
progress.
At Kirthar South block (operated by POL with 51% share), 34% share has been farm-out to Polish National Oil and
Gas Company (PGNiG) and Assignment Agreement has been approved by the Government. The Company is
actively pursuing to get Provincial Government approval for resumption of oil and gas exploration activities in this
license area.
At Margala block (operated by MOL where POL has 30% share), Tarnol-1 was spuded on Sep 20, 2022. During
drilling, the prognosed formations were not encountered at the prognosed depth and the well was plugged and
abandoned.
At Tal block (operated by MOL where POL has pre commerciality share of 25%), an exploratory well Razgir has
been approved by the joint venture partners but on hold due to gas price dispute with the Government.3D seismic
data interpretation of Makori, Makori Deep, Billitang, Kot South, has been completed while seismic interpretation on
Sarozai & Sarozai Deep is in progress at Top of Lockhart level. Makori Deep-3 (Development Well) location is also
under review for the approval. 3D Seismic data interpretation of Tal East is in progress at top of Lockhart level to
mature Kot South prospect.
Mamikhel South-1 well production line has been completed. In order to start production Government's approval is
awaited.
At Hisal block (operated by PPL where POL has 25% share), 3D seismic acquisition of 250 square kilometers of has
been awarded and currently the acquisition is in progress.
At Gurgalot block (operated by OGDCL where POL has 20% share), 3D seismic data interpretation is in progress
for prospect mapping.
At Taung block (operated by Mari Petroleum where POL has 40% share), 340.94 square kilometers 3D Seismic
acquisition has been completed and seismic data interpretation is in progress.
At Nareli Block (operated by Mari Petroleum where POL has 32% share), 2D seismic acquisition program of 456 line
kilometers-firm and 164 line kilometers-contingent has been approved and contract has been awarded for
execution of work.
In the recent bidding, POL won Multanai block as an operator (100%). The post bidding process of award is in
progress with DGPC.
Chah Bali exploration license was awarded to OGDC as an operator with 70% share and to POL with 30% share on
November 22, 2022.
Acknowledgement
The Board would like to extend its gratitude to all its stakeholders for their continuous support, which they have
extended to Pakistan Oilfields Limited.
On behalf of the Board

Shuaib A. Malik Abdus Sattar
Chairman & Chief Executive Director
Dubai
February 27, 2023
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