Page 22 - 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)
17. CASH AND BANK BALANCES
Bank balance on
Short term deposits 65,451,220 62,969,880
Interest / mark-up bearing saving accounts 12,645,493 7,279,702
Current accounts 129,765 42,198
78,226,478 70,291,780
Cash in hand 5,023 4,001
78,231,501 70,295,781
Balances with banks include foreign currency balances of US $ 210,307 thousand (June 30,
2023: US $ 201,024 thousand).The balances in saving accounts and short term deposits
earned interest / mark-up ranging from 4% to 22.15% per annum (June 30, 2023: 2.69% to
21.75% per annum).
(Unaudited) (Unaudited)

Three months ended Six months ended
Dec. 31, 2023 Dec. 31, 2022 Dec. 31, 2023 Dec. 31, 2022

Rupees ('000)
18. NET SALES
Crude oil 9,358,566 7,716,409 19,001,964 17,154,290
Gas - note 18.1 5,359,648 4,244,450 10,923,403 8,570,989
Less : Shrinkages/Own use 838,405 677,251 1,674,527 1,374,392
4,521,243 3,567,199 9,248,876 7,196,597
POLGAS - Refill of cylinders 3,349,957 2,602,458 5,488,001 5,368,760
Solvent oil 134,201 106,284 307,419 249,104
Sulphur - 29,088 - 29,088
17,363,967 14,021,438 34,046,260 29,997,839

18.1 On August 28, 2015, the Company signed the Supplemental Agreement with the
Government of Pakistan (the Government) for conversion of TAL Block Petroleum
Concession Agreement (PCA) signed under the 1997 Petroleum Policy to Petroleum
(Exploration & Production) Policy 2012 (Petroleum Policy 2012). Price regimes prevailing
in Petroleum Policy 2007, Petroleum Policy 2009 and Petroleum Policy 2012 shall be
applicable correlated with the spud date of wells in the respective policies starting from
November 27, 2007 and for future exploratory efforts under the above mentioned block.
The conversion package included Windfall levy on Natural gas only. Draft statements
specifying sums aggregating US $ 34,213 thousand (Rs 3,393,389 thousand) till June 30,
2015 due to the Company in respect of Mamikhel, Maramzai & Makori East discoveries in
TAL block were submitted to the Government on December 8, 2015. On October 9, 2017
Oil and Gas Regulatory Authority (OGRA) issued gas price notifications of the subject
arrears.
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