Hungarian oil and gas company MOL Nyrt (MOL.BU) said Friday it made an oil discovery at the Halini-1 well in the Karak block in the northeastern region of Pakistan.

   MAIN FACTS:

-The Halini-1 well drilling began Jan. 7, 2011. The well has been drilled to a depth of 5,350 meters.

-During the initial short duration tests carried out, the well flowed at the average rate of 1,700 barrels/day of crude oil.

-The flow rates from the well are expected to increase with further testing and stimulation treatment which is planned to be conducted shortly.

-To determine the size of the prospect, the consortium is planning to drill additional wells to delineate the exact extent, size and reserves potential of this oil discovery.

-The operator of the Karak Block is Mari Gas Company Ltd. (MARI.KA) and MOL Pakistan has a 40% interest.

-Budapest Bureau, Dow Jones Newswires, +36-1-267-0622; budapest@dowjones.com