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MarketScreener Homepage  >  Equities  >  KARACHI STOCK EXCHANGE (GUARANTEE) LIMITED, THE  >  Pak PetroleumXDXB    PPL   PK0081801018

PAK PETROLEUMXDXB (PPL)
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Pakistan Petroleum Limited : Discovers Gas At Its Exploration Well In Sujawal

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12/07/2018 | 12:11pm CET

Pakistan Petroleum Limited (PPL) has made a gas discovery at its exploration well Benari X-1 (ST-2) located in Sujawal, Sindh.

The discovery will add additional hydrocarbon reserves and also enable the energy sector to reduce the gap between supply and demand of oil and gas during the current energy crisis in the country, said a press release issued here on Thursday.

The operator of the Block 2467-16 (Shah Bandar) EL with 63% working interest (WI) along with its joint venture partners Mari Petroleum Company Limited (MPCL) with 32% WI, while Sindh Energy Holding Company Limited (SEHCL) and Government Holdings Private Limited (GHPL) with 2.

5% WI each made the discovery.

Exploration well Benari X-1 (ST-2) was spudded-in on May 22 and drilled to a depth of 3,470m to test the hydrocarbon potential of Lower Goru Formation. Based on wire line logs, potential hydrocarbon bearing zones were identified inside target reservoir. Drill Stem Testing in A-Sand Unit of Upper Sand, Lower Goru Formation flowed 9.05 million cubic feet per day of gas at Flowing Well Head Pressure of 855 psi on 48/64" choke.

(c) 2018 The Times of Israel. All rights reserved. Provided by SyndiGate Media Inc. (Syndigate.info)., source Middle East & North African Newspapers

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Financials (PKR)
Sales 2019 134 B
EBIT 2019 -
Net income 2019 46 804 M
Debt 2019 -
Yield 2019 6,82%
P/E ratio 2019 6,58
P/E ratio 2020 6,40
Capi. / Sales 2019 2,75x
Capi. / Sales 2020 2,43x
Capitalization 368 B
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Mean consensus OUTPERFORM
Number of Analysts 11
Average target price 201  PKR
Spread / Average Target 23%
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Managers
NameTitle
Saeed Ullah Shah Chief Executive Officer, MD & Director
Salman Akhtar Chairman
Syed Ehtesham Ahmad Chief Financial Officer
Mohammad Ahmed Kauser General Manager-Information Technology
Muhammad Sajid Farooqi Independent Non-Executive Director
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