January 19, 2026 (MLN): Pakistan Petroleum Limited (PSX:PPL) has discovered gas from the Lockhart Formation at its exploratory well Bilitang-1 in the TAL Block, located in district Kohat, Khyber Pakhtunkhwa Province.

The TAL Joint Venture comprises MOL Pakistan Oil & Gas Co. B.V. as operator with 10% working interest, Oil & Gas Development Company Limited (OGDCL) with 30% working interest, PPL with 30% working interest, Pakistan Oilfields Limited (POL) with 25% working interest, and Government Holdings Private Limited (GHPL) with 5% working interest.

The well was spudded-in on August 10, 2025, and successfully reached a target depth of 4,011 meters True Vertical Depth (TVD).

Based on interpretation results of Logging While Drilling (LWD) and wireline logs data, the Lockhart formation was successfully tested at a flow rate of 1.37 Million Standard Cubic Feet Per Day (MMSCFD) of gas at 32/64" choke against a Wellhead Flowing Pressure (WHFP) of 254 Pounds per Square Inch (Psi).

This discovery has de-risked further exploration play in the TAL Block, leading to new upside opportunities, according to the company's issued today.