Page 6 - Interim Financial Report for three months period ended September 30, 2022

EXPLORATON AND DEVELOPMENT ACTIVITIES
Producing Fields
At Balkassar lease (100% owned by POL), Balkassar Deep-1A is in the planning phase as replacement
of Balkassar Deep-1.

At Pindori lease (operated by POL with a 35% share), 3D seismic acquisition is in plan to evaluate the
prospectivity of Chorgali formation and to evaluate the possibility to produce un-drained oil.
At Tal block, (operated by MOL, where POL has a pre-commerciality share of 25%), Tolanj West-2 a
development well drilled down to target depth and tested three formations; Lamshiwal formation flowed
12.7 million cubic feet of gas per day, 11.3 barrels of oil per day and 9.2 barrels of water per day at
32/64” choke size at flowing well head pressure of 1,914 psi, Lockhart Formation tested and produced
8.3 million cubic feet of gas per day, 34 barrels of oil per day with no water at 32/64” choke size at
flowing wellhead pressure of 1,285 psi and Samansuk & Shinawari formations flowed 2.25 million
cubic feet of gas per day, Oil nil, water nil with well head flowing pressure of 374 psi at 32/64” choke
size. Production from this well is expected to start from December 2022 and actual figures may differ
from the testing results.
At Adhi field (operated by Pakistan Petroleum Limited (PPL), where POL has 11% share), Adhi South-7
has been spudded on April 14, 2022 drilled down to its target depth, initial testing results were 500
barrels of oil per day and 0.5 million cubic feet of gas per day at 28/64” choke size with flowing well head
pressure of 360 psi.
Adhi South-5 tested to the target depth, tested and not produced any hydrocarbons. Rig has been
released and planning of frac job is in progress. Adhi-35 and Adhi South-6 have been planned in the
financial year 2022-23.
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 Oil
and Gas Company (PGNiG) and Assignment Agreement has been submitted to the Government for its
approval. Well staking of Bandhak-1 well and its access route survey has been completed and waiting
for the Government’s approval to start construction work.
At Margala block (operated by MOL where POL has 30% share), Tarnol-1 was spudded on September
20, 2022 and drilling at 4,800 feet is in progress.
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. 152.93 square kilometers 3D Seismic data over KOT area processing and interpretation
has been completed. TAL West area 3D Seismic data procession and interpretation has been
completed to identify new prospects.

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