MARI successful drilling in Mari Ghazij formation

In a notification sent to PSX on 22/04/2024, Mari Petroleum Company Limited (MARI) has announced the successful drilling of third appraisal well in Mari D&PL.

MPCL has successfully drilled and tested the third appraisal well in the Ghazij formation in the Mari D&PL. This well is a part of the appraisal program for the Ghazij discovery which was disclosed vide letter no. MPCLlCS/CA-02/3386, dated January 25, 2023.
The well was spudded in on February 15, 2024, and drilled down to 1,483 meters. The post-acid gas flow rate from the well was 10.5 million standard cubic feet per day (MMSCFD) with a wellhead flowing pressure (WHFP) of 490 pounds per square inch (Psi) at 64/64-inch choke size.
The well shall be put into production in due course after the completion of requisite regulatory formalities. The company is also preparing a field development plan for submission to the relevant regulatory authority for approval.

The shares of MARI were last trading Rs. 2750.00 today.