External broker reports(aggregated public sources), Topline Securities

Topline Securities

Topline Securities is one of the fastest growing brokerage houses in Pakistan. It has strong equity brokerage, economic / equity research, mutual fund distribution, commodity trading and corporate finance & advisory functions. Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

External broker reports(aggregated public sources)

Equity Bottom-Up

<ul><li>Mari Energies (MARI) held its corporate briefing session today to discuss 9MFY26 performance and future outlook.</li><li>Regarding Ghazij/Shawal, management stated that production from the fields is currently around 75 mmcfd and is expected to reach the targeted level of 222 mmcfd after regulatory approvals.</li><li>Management noted that the drilling costs in the KPK region are significantly higher, with a well costing approximately US$35-45mn compared to a US$ 5mn at Mari field.</li></ul>

Mari Energies (MARI) held its corporate briefing session today to discuss 9MFY26 performance and future outlook.Regarding Ghazij/Shawal, management stated that production from the fields is currently around 75 mmcfd and is expected to reach the targeted level of 222 mmcfd after regulatory approvals.Management noted that the drilling costs in the KPK region are significantly higher, with a well costing approximately US$35-45mn compared to a US$ 5mn at Mari field.

Topline Flash Note: Mari Energies Limited (MARI) – Corporate Briefing Key Takeaways