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Six Years Performance

30 Oil & Gas Development Company Limited

2007-08 2008-09 2009-10 2010-11 2011-12 2012-13

Operational Performance

Seismic Survey - 2D L. Kms 2,889 5,129 2,493 1,500 2,589 1,584

- 3D Sq. Kms 1,067 1,128 290 660 654 1,121

Wells Drilled Numbers 31 30 26 21 17 24

Oil & Gas Discoveries Numbers 5 2 6 2 2 3

Quantity SoldCrude Oil Thousand BBL 15,037 14,438 13,343 13,224 13,713 14,183

Gas MMcf 358,868 364,036 354,327 362,924 381,863 392,513

LPG Tons 125,482 79,145 73,881 71,061 75,005 41,003

Sulphur Tons 29,065 24,673 20,018 34,400 21,400 14,493

White Petroleum Products Thousand BBL 547 148 64 30 19 -

Financial Results

Net Sales Rs in billion 125.91 130.83 142.57 155.63 197.84 223.37

Other Revenues Rs in billion 3.91 3.43 3.36 3.38 9.75 15.80

Profit before Taxation Rs in billion 78.31 80.93 88.55 90.98 133.08 145.82

Profit after Taxation Rs in billion 44.34 55.54 59.18 63.53 96.91 90.78

Balance Sheet

Share Capital Rs in billion 43.01 43.01 43.01 43.01 43.01 43.01

Capital Reserve and Unappropriated Profit Rs in billion 67.41 83.16 114.38 158.56 225.36 280.65

Non-Current Liabilities Rs in billion 20.46 30.53 36.63 38.44 45.36 51.61

Current Liabilities Rs in billion 21.44 21.29 34.84 21.78 24.59 38.74

Total Equity & Liabilities Rs in billion 152.31 177.99 228.87 261.78 338.32 414.01

Fixed Assets Rs in billion 67.71 87.69 103.18 106.03 116.04 134.53

Long Term Investments, Loans, Rec. & Prepayments Rs in billion 4.78 4.84 5.25 6.14 7.40 145.15

Current Assets Rs in billion 79.82 85.46 120.43 149.60 214.88 134.33

Total Assets Rs in billion 152.31 177.99 228.87 261.78 338.32 414.01

Cash Flow Summary

Net Cash from Operating Activities Rs in billion 51.60 52.98 61.51 67.88 48.58 185.68

Net Cash used in Investing Activities Rs in billion (15.59) (22.91) (22.84) (15.92) (14.66) (164.80)

Net Cash used in Financing Activities Rs in billion (41.47) (39.41) (28.77) (18.66) (30.61) (33.92)

Increase/(Decrease) in Cash and Cash Equivalents Rs in billion (5.46) (9.34) 9.90 33.30 3.31 (13.04)

Cash and Cash Equivalents at beginning of the Year Rs in billion 23.74 18.28 8.94 18.84 52.14 55.45

Cash and Cash Equivalents at end of the Year Rs in billion 18.28 8.94 18.84 52.14 55.45 42.41

Key Indicators

Profitability Ratios

Gross Profit Margin % 69% 70% 71% 66% 70% 71%

Net Profit Margin % 35% 42% 42% 41% 49% 41%

EBITDA Margin to Sales % 69% 70% 71% 71% 74% 69%

Return on Average Capital Employed % 41% 47% 42% 35% 41% 31%

Liquidity Ratios

Current Ratio Times 3.72 4.01 3.46 6.87 8.74 3.47

Acid Test/Quick Ratio Times 2.94 3.25 3.03 6.22 8.21 3.03

Cash to Current Liabilities Times 0.86 0.43 0.54 2.40 2.26 1.10

Cash Flow from Operations to Sales % 73% 75% 66% 87% 59% 124%

Activity/Turnover Ratios

Debtor Turnover in Days (1) No. of days 100 135 178 189 200 158

Total Assets Turnover Ratio % 87% 79% 70% 63% 66% 59%

Investment/Market Ratios

Earnings per Share Rupees 10.31 12.91 13.76 14.77 22.53 21.11

Price Earning Ratio Times 12.06 6.09 10.32 10.36 7.12 10.84

Dividend Yield Ratio % 8% 10% 4% 4% 5% 4%

Dividend Payout Ratio % 92% 64% 40% 37% 32% 39%

Dividend Coverage Ratio Times 1.09 1.57 2.50 2.69 3.11 2.56

Cash Dividend per Share Rupees 9.50 8.25 5.50 5.50 7.25 8.25

Market Price per Share (2) - As on 30 June Rupees 124.36 78.64 142.00 153.00 160.44 228.75

- High during the Year Rupees 140.80 125.49 142.00 179.70 170.70 254.81

- Low during the Year Rupees 104.90 40.56 80.71 128.80 120.29 167.41

Break-up Value per Share Rupees 25.67 29.34 36.60 46.87 62.40 75.25

Contribution to National Exchequer Rs in billion 99.75 86.45 80.24 76.84 100.55 129.12

Note: Previous years gures have been rearranged and/or reclassied, wherever, necessary for the purpose of comparison1 - 366 days have been used for the year 2007-08 & 2011-12

2 - Source: Karachi Stock Exchange (KSE)

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Graphical PresentationSix Years Operational & Financial Performance

Earnings and Dividend per Share

(Rupees)

2007-08 2008-09 2009-10 2010-11 2011-12 2012-13

Earnings per Share Dividend per Share

Net Sales Vs Prot after Tax

(Rs in billion)

2007-08 2008-09 2009-10 2010-11 2011-12 2012-13

Net Sales Profit after Tax

Quantity Sold - Crude Oil/Condensate

(Thousand Barrels)

2007-08 2008-09 2009-10 2010-11 2011-12 2012-13

100% Owned Fields Operated JV F ields Non-Operated JV F ields

Quantity Sold - Gas

(MMcf)

2007-08 2008-09 2009-10 2010-11 2011-12 2012-13

100% Owned Fields Operated JV F ields Non-Operated JV F ields

Return on Average Capital Employed

2007-08 2008-09 2009-10 2010-11 2011-12 2012-13

Assets and Liabili ties

(Rs in billion)

2007-08 2008-09 2009-10 2010-11 2011-12 2012-13

N on-Cu rrent As set s Net -Cu rrent As set s Lon g Term In vest men ts ,

Loans, Receivables and

Prepayments

Long Term Liabilities

A N N U A L R E P O R T 2 0 1 3 31