Mari Petroleum : Material Information

MPCL-CA-23-3573

July 27, 2023

The Managing Director

Pakistan Stock Exchange Limited

Stock Exchange Building, Stock Exchange Road

Karachi-74000

Subject: Disclosure of Material/Price Sensitive Information

Dear Sir,

In accordance with Section 96 of the Securities Act, 2015 and Clause 5.6.l (a) of the PSX Regulations, we hereby convey the following information:

Drilling of Second Horizontal Well in HRL Reservoir of Mari Gas Field, Daharki, Sindh

We are pleased to inform that Mari Petroleum Company Limited (MPCL) has successfully drilled and tested a second horizontal development well Mari 123H in Habib Rahi Limestone (HRL) Reservoir of Mari Gas Field in Daharki, Sindh Province.

The well was drilled to a total measured depth of 1,846 meters with a horizontal section length of around 900 meters. After the acid stimulation job, the well was tested at a rate of around 20 MMSCFD of gas at a flowing wellhead pressure of 318 psig. The well has been put on production immediately after testing. The company is evaluating opportunities to drill additional horizontal wells to better manage the delivery pressure, while sustaining the current production rates from HRL Reservoir.

MPCL is the Operator of Mari Gas Field with 100% working interest.

You may disseminate this information to the TRE certificate holders of the Exchange.

Yours Sincerely,

For and on behalf of Mari Petroleum Company Limited

Muhammad Sajjad

Acting Company Secretary

Copy to:

Director (Enforcement),

Securities Market Division

Securities and Exchange Commission of Pakistan

NIC Building, Jinnah Avenue, Blue Area, Islamabad