Page 6 - Condensed Interim Financial Information - Nine Months Ended March 31, 2018

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Directors’ Report
In the name ofALLAH, TheMost Gracious, TheMost Merciful
The Directors have pleasure in presenting a brief review of the operations and financial results of the
Company for the ninemonths endedMarch 31, 2018.
During the period, the Company has made a profit after tax of Rs. 7,867.9 million (March 31, 2017: Rs.
7,465.6 million), which is higher by 5.4% as compared to the corresponding period last year. The profit
translates into earnings per share of Rs. 33.26 (March 31, 2017: Rs. 31.56 per share). Increase in
production volume of crude oil, gas and LPG increase by 9.03% and 13.67% and 8.89% respectively in
comparison to corresponding period last year. Average crude oil price increase by 21.5 % in
comparison to corresponding period last year. During the period the Company made a consolidate
profit after tax of Rs. 7,892.8 million (March 31, 2017: Rs. 7,580.1 million) which translate into
consolidated earnings per share of Rs. 33.31 (March 31, 2017: Rs. 31.93 per share).
The following is a comparison of production from the Company's fields including proportionate share
fromall operated and non-operated joint ventures:
Crude Oil/Condensate
(US Barrels)
(Million Cubic Feet)
(Metric Tonnes)
(Metric Tonnes)
Solvent Oil
(US Barrels)
The Company's share in production, including that from joint ventures, for the period under review
averaged 7,338 barrels per day (bpd) of crude, 87.29 million standard cubic feet per day (mmscfd) of
gas, 59 bpd of solvent oil, 173.12metric tonnes per day (MTD) of LPGand 1.87MTD of Sulphur.
At Balkassar field (100% owned by POL), 3D Seismic Data acquisition of 191.25 Square kilometers
has been completed. 3D seismic data processing is in progress.
At Joyamair field (100% owned by POL), Joyamair Deep-1 (an exploratory well) has been spuded on
October 14, 2017 and drilled down to target depth of 8,776 ft. Presently, the well is under testing phase.
At Khaur Lease (100%owned by POL), Khaur North-1 (an exploratory well) was spuded on November
08, 2017, drilled down to 14,586 ft and declared well target depth. Preparation is underway for taking
well logs and performwell testing procedures.
Financial results
Exploration and development activities
Producing Fields
Nine months period ended
Mar. 31, 2018
Mar. 31, 2017