Government in process of issuing Bonds exchangeable into Oil & Gas Development Company shares

Karachi: Government of Pakistan is in process of issuing Bonds exchangeable into shares of Oil & Gas Development Company Limited (OGDCL). The Bonds will be traded on Singapore Stock Exchange.

OGDCL in a communication Monday to Karachi Stock Exchange gave following information: Preliminary Reserves Report – Executive Summary, Latest Operational Highlights, Development & Production Lease Map, Exploration License Map, Accounts for period July 2010-April 2011 compared with correspondence period of last year along with Auditors Review. It is being provided to KSE in compliance with requirements of Clause No. (xxiii) of the Code of Corporate Governance.

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