Pakistan Well Delivers for MOL

MOL Hungarian announced successful test results in the Tolanj X-1 exploration well.

Oil and gas have been encountered in the exploratory well, Tolanj X-1, which is being drilled in TAL Block, Pakistan. Tolanj X-1 well was spudded on June 21 2010.

In the Lumshiwal Formation, upper 48 meters of the drilled section produced around 16.3 MMcfd gas (462,000 cmpd, 2,900 boepd) during Barefoot DST at 32/64 inch fixed choke size at flowing wellhead pressure of 2392 psi (164 bar). The drilling shall be continued to penetrate and test the deeper prospective horizons.

Mr. Zoltán Áldott, Exploration & Production Vice President of MOL Group commented, "The successful well test continues the queue of the discoveries recently announced by MOL Group and justifies the Group's strategic focus to maintain the long-term Upstream growth, based on organic, exploration projects. Pakistan is one of the core areas for the implementation of this strategy, where operations in TAL Block provided not only significant exploration results, but in cooperation with the Government of Pakistan and our JV Partners intensive field development resulted continuously increasing hydrocarbon production which is expected to be further expanded due to these new discoveries."

Mr. János Fehér, Managing director of MOL Pakistan said, "This new discovery, which is the 6th in TAL Block, underlines our hard work, the professionalism of my colleagues and our commitment to make Pakistan a less energy indigent country. While MOL Pakistan is one of the flagship Upstream companies of MOL Group, its business successes and social responsible projects prove our commitment to the country, as well."