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daily check

· As per the latest industry reserve figures from the PPIS for Dec’25, rising by 6%/4% for oil and gas, respectively.  · We reiterate our ‘BUY’ stance on OGDC, PPL, MARI and POL, with Dec’26 target prices of PkR522/412/935/850 per share, respectively. Industry reserves see modest upgrade in Dec'25: As per the latest reserve figures published by PPIS for Dec'25, the industry's balance recoverable reserves improved on both fronts, with oil balance recoverable rising to 253mn bbls (+6%YoY) from 238mn bbls and gas balance recoverable increasing to 18,854 bcf (+4%YoY) from 18,142bcf. The aforementioned increase during the period is behest of the accelerated exploration and appraisal activity, leading to estimate reserve replacement ratio of 1.2x/1.5x for oil and gas, respectively (assuming latest production levels). Critically, oil reserve depletion improved to 81% (vs. 82% in Dec'24), the first improvement in several years, while gas depletion stabilized at 72%, indicati...

NewsDaily

US, Iran agree to continue talks, says Pakistan The United States and Iran have agreed to continue indirect negotiations on the Islamabad Memorandum of Understanding (MoU) , following positive progress made during mediator-facilitated talks in Doha , the Foreign Office said on Thursday. Meanwhile, Prime Minister Shehbaz Sharif is leaving today (Friday) for Iran at the head of a delegation along with cabinet ministers and senior officials to participate in the funeral ceremony of Late Supreme Leader Ayatollah Seyyed Ali Khamenei . "The prime minister will convey condolences on behalf of the people and Government of Pakistan to the Iranian leadership and the bereaved families, while reaffirming solidarity with the brotherly nation in this hour of profound grief," announced Tahir Andrabi, Spokesperson at the Foreign Office , during the weekly media briefing. Later, the prime minister will leave for Turkiye and together with President Recep Tayyip Erdogan hold discussion...

Fire and Blood

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PREFACE MIKE MENTZER(1951-2001) Within 36 hours of signing the agreement for this book, Mike Mentzer died in his sleep of a heart attack. There had been a congenital predisposition to heart troubles in the Mentzer family. Mike’s father, Harry Mentzer, had also died prematurely from cardiac problems, and in what would seem like something out of a Greek tragedy, Mike’s younger brother, Ray, would die from the same cause a mere two days after Mike’s passing. Both his life and his death speak to the issue of genetics that Mike had stressed so often and so resolutely in his writings and seminars, for genes, as he often said, are the prime determinant of not only muscular success, but overall health and longevity. Mike received the genes to achieve muscular (and I dare say philosophical) greatness, but he was shortchanged, genetically speaking, in the department of overall health and longevity. We were lucky to have him as long as we did, and I believe that were it not for his traini...