OGDCL Discovers Oil at Palli Deep-1 Well in Pakistan's Sindh Province

Oil and Gas Development Company Limited (OGDCL) reported Wednesday an oil discovery at the exploratory well Palli Deep-I in District Tando Allah Yar, Sindh Province, Pakistan, the firm said in a filing with the London Stock Exchange.

The structure of Well Palli Deep # 01, drilled to a depth of 13,287 feet (4,050 meters) was delineated, drilled and tested using OGDCL's in house expertise.

"Significant reserves of oil have been found at Well Palli Deep # 01 in (Basal Sand & Middle Sand) Lower Goru Sand formation which produced 1,095 barrels of oil per day at 32/64 inch choke size. This discovery will add remarkable oil reserves to the reserve base of the Company," OGDCL said in the statement.

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