P.I.D.C. House, Dr. Ziauddin Ahmed Road,
P. O. Box 3942, Karachi-75530, Pakistan
Tel: 92-21-35651480-89, 92-21-35657730-39
UAN: 92-21-111-568-568
Fax: 92-21-35680005 & 92-21-35682125
Website: https://www.ppl.com.pk/
Our reference: CS/PSX-0002 Your reference: Date: 2ndJanuary 2026
Mr. Syed Ahmad Abbas Chief Listing Officer Listing Department
Pakistan Stock Exchange Limited Stock Exchange Building
Stock Exchange Road Karachi
Dear Sir,
Re: Discovery of Hydrocarbons in TAL Block at Bilitang-1 Exploratory Well, Khyber Pakhtunkhwa Province, Pakistan
We are pleased to disclose that TAL Joint Venture comprising MOL Pakistan Oil & Gas Co.
B.V. (as Operator) with 10% Working Interest (WI), Oil & Gas Development Company Limited (OGDCL) 30% WI, Pakistan Petroleum Limited (PPL) 30% WI, Pakistan Oilfields Limited (POL) 25% WI and Government Holdings Private Limited (GHPL) 05% WI, have discovered gas from Hangu/ Lumshiwal formations at its exploratory well Bilitang-1, located in district Kohat, Khyber Pakhtunkhwa Province.
The exploratory well was spudded-in on 10th August 2025 and successfully reached target depth of 4011m TVD. Based on interpretation results of LWD/wireline logs data, Hangu/ Lumshiwal formations (Exploratory Targets) were initially tested successfully at rate of 1.58 Million Standard Cubic Feet per day (MMSCFD) gas at 40/64" choke against Wellhead Flowing Pressure (WHFP) 164 Pounds per Square Inch (Psi).
This discovery has de-risked further exploration play in TAL Block, leading to new upside opportunities. The said discovery will also help and contribute towards improving energy security of the country from indigenous resources and add to the hydrocarbon reserves base of PPL, its Joint Venture Partners and the country.
The foregoing information is submitted in compliance of Section 96 of the Securities Act, 2015 and Clause 5.6.1 of the Pakistan Stock Exchange Limited Regulations, for dissemination amongst your members.
Yours truly,
Ali Jaffar
Company Secretary
Copy: Executive Director/HOD, Offsite-II Department, Supervision Division, SECP, Islamabad.