Karachi: Hydrocarbon has been discovered by Pakistan Oilfields Limited (POL) in its production and lease area in Khaur, Attock, according to a news report. Referring to a notice sent to Pakistan Stock Exchange, Taurus Securities revealed that POL has a 100% stake in the area.
The well for this purpose had been drilled at a depth of 14,586 feet, with a pressure of 776-1,090 pounds per square inch (psi). Tests conducted in the initial stages showed that 502 barrels per day (bpd) of oil and 1.4 million cubic feet per day of gas would be produced. Taurus Securities said, “For POL, we estimate the production flows to have an annualised earnings of Rs2.88 for $70 per barrel of crude oil and the rupee valued at Rs129 against the dollar.”
