MOL makes small gas discovery at Tolang West-1
According to a notice issued at the PSX by Pakistan Petroleum Limited (PPL), MOL has encountered gas reserves at Tolang West-01. During testing, the well flowed gas in Lumshiwal formation at a rate of 7.48mmcfd. POL, PPL and OGDC have respective post-commerciality working interests of 21.05%, 27.76% and 27.76%. We estimate earnings impact of Rs0.38/share on POL, Rs0.06/share on PPL and Rs0.03/share on OGDC. However, actual production may differ from test results.