Page 20 - Condensed Interim Financial Statements - For Nine Months Ended March 31, 2022

Notes to and forming part of the Condensed Interim
Financial Statements (Unaudited)
For the nine months ended March 31, 2022
(Unaudited) (Audited)
Mar. 31, 2022 Jun. 30, 2021
Rupees ('000)
15. Cash and bank balances
Bank balance on:
Short term deposits 53,205,069 44,781,900
Interest/ mark-up bearing saving accounts 2,812,603 2,696,309
Current account 45,333 91,446
56,063,005 47,569,655
Cash in hand 4,674 2,551
56,067,679 47,572,206
Balance with banks include foreign currency balances of US$ 163,535 thousand (June 30,
2021: US$ 142,461 thousand). The balances in saving accounts and short term deposits
earned interest/ mark-up ranging from 0.5% to 12.10% p.a (June 30, 2021: 0.3% to 8.21%
p.a).
Three months ended Nine months ended
Mar. 31, 2022 Mar. 31, 2021 Mar. 31, 2022 Mar. 31, 2021
Rupees ('000)
16. Net sales
Crude oil 7,714,863 4,962,649 20,514,657 12,911,098
Gas - note 16.1 3,490,763 3,038,796 10,607,919 10,334,634
Less: Shrinkages/Own use 524,209 271,524 1,499,105 1,198,614
2,966,554 2,767,272 9,108,814 9,136,020
POLGAS -Refill of cylinders 2,576,600 1,693,126 7,187,427 4,808,586
Solvent oil 57,128 41,261 191,485 139,582

13,315,145 9,464,308 37,002,383 26,995,286
16.1 On August 28, 2015, the Company signed the Supplemental Agreement with the
Government of Pakistan (the Government) for conversion of TAL Block Petroleum
Concession Agreement (PCA) signed under the 1997 Petroleum Policy to Petroleum
(Exploration & Production) Policy 2012 (Petroleum Policy 2012). Price regimes prevailing
in Petroleum Policy 2007, Petroleum Policy 2009 and Petroleum Policy 2012 shall be
applicable correlated with the spud date of wells in the respective policies starting from
November 27, 2007 and for future exploratory efforts under the above mentioned block.
The conversion package included Windfall levy on Natural gas only. Draft statements
specifying sums aggregating US $ 34,213 thousand (Rs 3,393,389 thousand) till June 30,
2015 due to the Company in respect of Mamikhel, Maramzi & Makori East discoveries in
TAL block were submitted to the Government on December 8, 2015. On October 9, 2017 Oil
and Gas Regulatory Authority (OGRA) issued gas price notifications of the subject arears.

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