Pakistan Oil Fields (POL): Discovery of Jhandial-3, Attock District, Punjab – By AKD Research

<p></p><ul><li><span style="font-family:Arial, Helvetica, sans-serif;font-size:medium;">Pakistan Oil Fields (POL) achieved success in its legacy Jhandial Field in the Ikhlas Block (POL interest: 80%), discovering 715bpd of oil and 9.0mmcfd of gas (based on average flow rate). The company began drilling the Jhandial-3 well in Oct'23 to appraise the already discovered hydrocarbons in the formation.</span></li></ul><ul><li><span style="font-family:Arial, Helvetica, sans-serif;font-size:medium;">We estimate a positive EPS impact of PkR12/sh for FY25E earnings. Overall, we have a 'BUY' rating on the company with June'25 target price of PkR600/sh, alongside an FY25E dividend yield of 17%.</span></li></ul><p></p>