Page 19 - Condensed Interim Financial Statements for thesix months ended December 31, 2023

Notes to and forming part of the Condensed Interim
Financial Statements (Unaudited)
For the six months ended December 31, 2023

(Unaudited) (Audited)
Dec. 31, 2023
Jun. 30, 2023
Rupees ('000)
4. REVENUE RESERVES
Insurance reserve 200,000 200,000
Investment reserve 1,557,794 1,557,794

Unappropriated profit 63,638,502 63,090,864
65,396,296 64,848,658
5. PROVISIONS
Provision for decommissioning costs 25,975,503 26,090,656
Provision for staff compensated absences 2,382 2,949
25,977,885 26,093,605
6. TRADE AND OTHER PAYABLES

These include balances due to joint operating partners amounting to Rs 3,109,416 thousand
(June 30, 2023: Rs 2,580,128 thousand) and balances due to related parties amounting to
Rs 1,726,296 thousand (June 30, 2023: Rs 2,073,676 thousand).
These also include payments received from a customer on account of additional revenue and
related sales tax due to enhanced gas price incentive of Rs 29,830,474 thousand (June 30,
2023: Rs 27,020,337 thousand) as explained in note 18.1.
7. UNPAID DIVIDEND - AWAITING REMITTANCE BY THE AUTHORIZED BANK
This represents dividend payable to parent company (non-resident), The Attock Oil Company
Limited in United Kingdom (UK), for the year June 30, 2022 and interim and final dividend for
the year ended June 30, 2023 awaiting remittance by the authorized bank due to regulatory
constraints.
8. CONTINGENCIES AND COMMITMENTS
8.1 There were no material contingencies which warrant disclosure as at December 31, 2023
(June 30, 2023: Nil).
(Unaudited) (Audited)
Dec. 31, 2023
Jun. 30, 2023
Rupees ('000)
8.2 Commitments:
Share in joint operations 17,398,512 15,026,127

Own fields 922,586 4,586,947
Letter of credit issued by banks on behalf
of the Company 82,572 818,030

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