Karachi: In response to recent queries regarding the unusual fluctuations in its share price, OilBoy Energy Limited ("OBOY") has officially stated that there are no internal developments influencing the market. The company addressed concerns following a notification from the Pakistan Stock Exchange (PSX) dated September 24, 2024, about the observed volatility.

OilBoy Energy Limited, in a communication to the PSX, confirmed that its operations and financial status remain stable and that it has not withheld any material information from its investors or the public. According to information available from the Pakistan Stock Exchange (PSX), the company is compliant with all necessary regulatory requirements to ensure transparency.

The inquiry by the PSX was prompted by a significant deviation in the trading pattern of OBOY’s shares, which raised suspicions of potential undisclosed developments that could affect the company's market valuation. However, OilBoy has reiterated that all pertinent data concerning its financial health and operational strategies have been fully disclosed in accordance with Section 97 of the Securities Act, 2015, and Clause 5.6.3 of the PSX Regulations.

The management of OilBoy Energy Limited reassured its stakeholders that the company maintains rigorous adherence to disclosure standards, which are designed to prevent any miscommunication or speculative trading based on incomplete information.