Karachi: TPL REIT Fund I has disclosed the discovery of a shallow biogenic methane gas pocket encountered during a preliminary site investigation at their development near Korangi Creek. The information was shared in a material disclosure dated April 3, 2025, as per Section 96 of the Securities Act, 2015, and Clause 5.6.1 (a) of PSX Regulations.

The discovery was made while drilling a test well for water exploration. Initial technical evaluations, corroborated by independent industry experts, suggest that the gas originates from organic material decomposition. The site is not part of a known natural gas reservoir, and similar occurrences indicate that the gas is likely to dissipate naturally over time if the flame is allowed to burn.

The test was part of a broader series of studies conducted over the past two years, underscoring TPL REIT Fund I’s commitment to responsible development. These assessments were carried out in collaboration with national and international consultancy firms and included geotechnical studies, soil composition and contamination tests, Electrical Resistivity (ER) surveys, and a comprehensive Environmental and Social Impact Assessment (ESIA), among other baseline studies.

The hydrological study and other field investigations were conducted with the necessary approvals from relevant authorities and complied fully with regulatory standards. TPL REIT Fund I emphasized their commitment to transparency, safety, health, and sustainability in all projects.

According to information available from the Pakistan Stock Exchange (PSX), TPL REIT Fund I has taken all necessary measures to contain the situation since the discovery on March 28, 2025. The company has kept stakeholders informed through press releases on various media platforms.

The Trading Right Entitlement Certificate Holders of PSX have been advised to take note of this development, as stated in the company’s communication.