IGI Securities Limited - Day Break.

Karachi -- April 18, 2019 (PPI-OT)

Oil and Gas Exploration Companies - Pakistan Oil reserves down by 19% while gas reserves ramp up by +12% at Dec-18; Nashpa revised down by 55%, Uch upgraded by +76%

As per latest data published by Pakistan Petroleum Information Service (PPIS), Pakistan's total oil gas reserves are down by 19% to 282mnbbls as at Dec-18 compared to 348mnbbls at Jun-18. Gas reserves are up by +12% to 21.90tcf as at Dec-18 compared to 19.54tcf at Jun-18.

Nashpa oil field's reserve has been revised down by +55% to 57mnbbls as at Dec-18, which is the largest oil field in Pakistan. Mela oil field reserves have been revised upwards by +6.0x to 21mnbbls as at Dec-18 which is located close to Nashpa field,

Uch and Qadirpur gas field reserves have been revised upwards...