Financial results of Oil and Gas Development Company Limited for period ended June 30, 2016

General Press Release

Karachi, Oil and Gas Development Company Limited informed Pakistan Stock Exchange about the recommendations made by the board of directors in the meeting held at Islamabad on August 24, 2016.

The agenda of the meeting was discussion of profit and loss account for year ended June 30, 2016 which portrayed a profit of Rs. 59,970,802 with earnings per share 13.94 basic and diluted.

Further, Rs. 2 per share i.e. 20% payment of cash dividend, nil bonus shares and right shares was agreed.

Furthermore, the share transfer books of the company will remain closed from October 19, 2016 to October 26, 2016 (both days inclusive).

Oil and Gas Development Company Limited was incorporated in Pakistan on October 23, 1997 under the Companies Ordinance, 1984. The operations of the company include exploration, drilling operation, process and plants production, reservoir management, engineering support and commercials. The registered office of the company is located in Islamabad. The stocks of the company are quoted on the Karachi, Lahore and Islamabad stock exchanges of Pakistan. The global depositor’s shares of the company are listed on the London Stock Exchange.

The company has oil and gas fields located in all the four provinces of Pakistan. The equipment and operational base of the company include drilling rigs, work over rigs, geological field party, seismic parties, engineering field parties, gas gathering and pipeline construction party, seismic data processing centre, geological analysis laboratory, wire line logging unit, cementing units and data logging unit.

The associated company of OGDCL is Mari Petroleum Company Limited. The membership of the company is of Petroleum Institute of Pakistan, Pakistan Petroleum Exploration and Production Companies Association, Management Association of Pakistan, Society of Petroleum Engineers, Pakistan Association of Petroleum Geoscientist, World Wild Fund and World Energy Council.

The symbol “OGDC” is being used by the stock exchange for the shares of Oil and Gas Development Company Limited.