Attock: Pakistan Oil Fields (POL) has successfully tapped into new oil and gas reserves at its Jhandial-3 well in the Ikhlas Block of Attock District, Punjab, promising to bolster its production capabilities significantly.

According to AKD Securities Limited, the discovery includes 715 barrels of oil per day and 9 million cubic feet of gas per day, marking a significant advancement in the field's development. The drilling of the Jhandial-3 well, which commenced in October 2023, was aimed at appraising previously discovered hydrocarbons in the area, where POL holds an 80% interest.

The financial outlook for POL is also optimistic, with projections of a positive impact on earnings per share by PKR 12 for the fiscal year 2025. AKD Securities maintains a 'BUY' rating on POL, setting a target price of PKR 600 per share by June 2025, accompanied by an expected dividend yield of 17% for the fiscal year 2025.