Mari finds third consecutive gas discovery, improving hydrocarbon reserves

Mari Petroleum Company Limited (MPCL) has made a new significant gas discovery resulting from its new exploratory efforts at Tipu -1 Exploration Well, drilled in Mari D&P Lease Area, located in District Ghotki, Sind Province.

Mari Petroleum Operator of Mari D&P Lease Area with 100 percent working interest share. The said well was spud-in July 2017 and has been successfully drilled down to the depth of 3,944 meters, the company said in a filing to Pakistan Stock Exchange.

The well was drilled with the objectives to test the hydrocarbon potential of Northern Compartment at Lower Goru B Sand level as well as assess the hydrocarbon potential of Sembar as a probable shale/tight gas potential.

The well produced 21.4 MMSCFD gas @ 40/64 inch choke size.

The company would like to highlight that this is the 3 rd consecutive new discovery. Limestone levels which have been primarily achieved from the results of the Company's extensive investment on acquisition of 1,079 sq.km wide-land.

The Company is highly encouraged with the positive results of said seismic data which has identified additional new prospects at different reservoir levels, which the Company plans to drill in the next 2-3 years to chase significant additional hydrocarbon in the area. MPCL presently, operates four Development & Production Leases, eight Exploration Licenses and has joint venture interest share in five other Exploration Blocks.