TAL Block Well in Pakistan Tested Flowing 1.844 Mbbl Of Oil, 18.25 MMcf of Gas Per Day

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An oilfield discovery has been announced by operator MOL in the TAL Block in Pakistan’s Khyber Pakhtunkhwa Province. New reserves were discovered in the TAL concession on the Kohat Plateau at #2-Makori. According to the company, testing indicates that the well is capable of producing approximately 1.844 Mbbl of oil with 18.25 MMcf of gas per day. The new discovery has de-risked exploration in deeper fault blocks in the TAL Block leading to new upside opportunities. Production from the TAL Block accounts for about 20% of Pakistan’s oil production (approximately 17 Mbbl per day). The most recent discovery was made in 2011. Oil and Gas Development Co. and Pakistan Petroleum Ltd. each holds a 28% interest, and Pakistan Oilfields and MOL hold 21% and 23% interest, respectively. MOL is based in Budapest.