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The Privatisation Commission ("PC") on behalf of the Government of Pakistan ("GOP"), intends to divest its working interest in nine oil & gas concessions to investors with relevant upstream experience.
The Exploration and Production ("E&P") sector in Pakistan is active, with a total of 38 participating companies of various nationalities, including Pakistani firms. The combination of potentially significant growth in energy demand, the continuing deregulation, and recent large gas discoveries make Pakistan an attractive proposition for E&P

companies. In addition the historical exploration drilling success ratio is well above world average at better than 1 in 4.
The nine concessions offered for sale (Adhi, Badin I, Badin II (revised), Dhurnal, Mazarani, Minwal, Pariwali, Ratana, Turkwal) produced an average of approximately 19,000 boepd net to the working interests during 2000. www.gop-sale.com

Expressions of Interest ("EOI") are hereby invited from principals interested in acquiring the concessions detailed above. EOIs (three copies) should include the name and address of the party, the date and place of incorporation and contact details, along with the following information (although the PC reserves the right to request additional information from any party):

	1.	Background of the applicant and (if different) ultimate parent company;
	2.	Audited financial statements for the preceding three years for the applicant (and parent ) company;
	3.	Experience in the E&P sector including a three year track record;

The EOI along with a non refundable processing fee of US$ 500 or Rs.30,000/- payable in the form of a draft in favour of "The Privatisation Commission, Government of Pakistan", should reach the PC at the address given below as soon as possible but in any event no later than July 23, 2001.
Parties with relevant credentials who submit an EOI and satisfy the necessary financial and technical standards will be invited to sign a Confidential Agreement, following which a copy of the Information Memorandum will be provided, allowing a comprehensive assessment of the assets being offered. Qualified parties that wish to have access to the full data package for their own due diligence may do so on payment of further fee. Full details of the data package will be provided to qualified parties. All inquiries should be directed to the Financial Advisor Gaffney, Cline & Associates or JP Morgan.

H. Reza-ur-Rahim
JP Morgan, 2nd Floor
Bahria Complex II, M. T. Khan Road,
Karachi, Pakistan.
Tel:  92(0) 21 561 0868
Fax: 92(0) 21 561 0175
E-mail: reza.rahim@jfleming.com

Bob George/Brian Rhodes
Gaffney, Cline & Associates
Bentley Hall, Blacknest, Alton,
Hampshire GU34 4PU England
Tel:  44(0) 1420 23366
Fax: 44(0) 1420 22357
brhodes@gaffney.cline.com