Karachi: Mari Energies Ltd has reported a notable gas discovery at the Shams-1 exploratory well in District Ghotki, Sindh. The well, fully owned by Mari Energies, was tested in the Mari Dand PL reservoir, yielding a gas flow rate of 48 million cubic feet per day. Additionally, the site recorded a condensate flow of 64 barrels per day. The discovery is anticipated to impact the company's annualized earnings per share by approximately 6.4 Pakistani Rupees, accounting for 11 percent of the projected earnings for the fiscal year 2026.

According to AKD Securities Limited, the recent discovery supports a positive outlook for Mari Energies Ltd, with a 'BUY' recommendation and a target price of 935 Pakistani Rupees per share by December 2026. This outlook is based on the company's expanding self-operated production capabilities, reduced dependency on fluctuating oil prices, advancements in the Abu Dhabi Offshore Block-5 project, and strategic diversification into minerals and artificial intelligence/data centers.