OGDCL CONVERTIBLE BONDS DISCUSSED

Islamabad, March 25, 2010

The Acting Managing Director/ ED/Finance/CFO of Oil & Gas Development Company Limited (OGDCL) Mr. Asif Saeed Sindho called on Senator Waqar Ahmed Khan Federal Minister for Privatisation here today.

Senator Waqar Ahmed Khan Federal Minister for Privatisation said that all respective stakeholders would be taken on board prior to taking to the market the transactions listed on the Privatisation Program. Detailed discussions were held regarding the convertible bonds of OGDCL with the technical experts of the Privatisation Commission to take forward the transaction on fast track basis.