MARI GAS FAIR VALUE RS. 420/-

MARI GAS FAIR VALUE RS. 420/-

Mari Gas Company Limited is one of the largest oil and gas exploration and production companies in Pakistan which is actively contributing to the national economy. Mari Gas Company Limited was incorporated in mid 80’s by Fauji Foundation ,Govt of Pakistan and Oil & Gas Development Corporation (now Oil & Gas Development Company Limited) to takeover the assets, liabilities and operation of Fauji Foundation (Mari Gas ) and Pak Stanvac Petroleum project. The company commenced business in its own name on December. Mari Gas is listed as a public limited company on all the stock exchanges of Pakistan.


SHAREHOLDER PERCENTAGE

Fauji Foundation 40% Rs 147.00 million

Government of Pakistan 20% Rs 73.50 million

OGDCL 20% Rs 73.50 million

General Public 20% Rs 73.50 million


IMPORTANT BASIS FOR FAIR VALUE:

Mari Gas reported its profit after tax of Rs. 1.4 billion in 9moinths’08 as against Rs0.4 billion in the same period of the last year, a robust growth of 219% was demonstrated.

Earning per share of the company showed an increase of 220% from Rs.12.51 to Rs.39.97 YOY basis.

Mari Gas sales rose by 82% to Rs.4.4 billion.

Operating expenses of the company increased by 12%.

Surging oil & gas prices led the operating profit of the company at the highest pace from Rs.925 million to Rs. 2.4 billion during the period under review.