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MarketScreener Homepage  >  Equities  >  KARACHI STOCK EXCHANGE (GUARANTEE) LIMITED, THE  >  Pakistan Petroleum Ltd.    PPL   PK0081801018

PAKISTAN PETROLEUM LTD.

(PPL)
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Pakistan Petroleum : What 'good quality reservoir' Pakistan found in oil, gas drilling project

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05/19/2019 | 01:55pm EDT

(AFP file)

Petroleum Division (PD) of Pakistan'sEnergy Ministry on Sunday said the results of the four-month offshore drilling at Indus G-Block called Kekra-I, some 230-km off the Karachi coast, had shown good quality hydrocarbon reservoir but unfortunately these were water wet.

"After the well control operations, the 6? Open Hole section drilling was resumed on Friday. The reservoir was encountered at 5,492 meters and so far about 140 meters of reservoir have been drilled. The log results show a good quality reservoir but unfortunately water wet without any gas effect," a Petroleum Division press release said.

Current depth of the well is 5,634 meters 'Managed Depth' and as per the plan; while another 55 meters would be drilled before proceeding with P&A (plug and abandon) operations, which has already been approved by Joint Venture Partners including Exxon.

The offshore drilling is a joint venture of ENI, Exxon Mobil, Oil and Gas Development Company Limited and Pakistan Petroleum Limited.

The consortium had started drilling activities on January 13, 2019.

(c) 2019 Khaleej Times. All Rights Reserved. Provided by SyndiGate Media Inc. (Syndigate.info)., source Middle East & North African Newspapers

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Financials (PKR)
Sales 2019 164 B
EBIT 2019 82 051 M
Net income 2019 59 892 M
Debt 2019 -
Yield 2019 7,41%
P/E ratio 2019 4,98x
P/E ratio 2020 4,96x
Capi. / Sales2019 1,86x
Capi. / Sales2020 1,69x
Capitalization 306 B
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Income Statement Evolution
Consensus
Sell
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Mean consensus OUTPERFORM
Number of Analysts 14
Average target price 202,28  PKR
Last Close Price 134,88  PKR
Spread / Highest target 68,2%
Spread / Average Target 50,0%
Spread / Lowest Target 33,5%
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Managers
NameTitle
Moin Raza Khan Chief Executive Officer & Managing 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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