HONG KONG, CHINA – Media OutReach – 13 February 2019 – Yanchang Petroleum International Limited (“Yanchang Petroleum International” or the “Company”; stock code: 00346), is pleased to announce that its wholly owned subsidiary, Novus Energy Inc. (“Novus”), which explores for, develops and produces crude oil and natural gas in Saskatchewan and Alberta in Canada, continues to deliver industry record results and achieve technical excellence.
Novus was recognized by Smith Bits, a Schlumberger company, for record drill times and footage in developing new Mannville zone play within its major operational areas, with 1,245 meters drilled in total and the overall rate of penetration achieving 37.2 meters per hour.
Mr. Bruno Deruyck, Chief Executive Officer and Executive Director of Yanchang Petroleum International said, “Novus team dedicate themselves to improving drilling and completion efficiency. By doing so, we are making the best of our foot print in the Saskatchewan and Alberta resource play and maximize value for Yanchang International shareholders.”
About Yanchang Petroleum International (stock code: 00346)
Yanchang Petroleum International is principally engaged in the following activities (i) exploration, exploitation and operation of oil and gas; and (ii) fuel oil trading and distribution. In its upstream operations, Yanchang Petroleum International possesses operating oilfields in Saskatchewan and Alberta, Canada, through its wholly owned subsidiary Novus, a Canadian enterprise. Novus engages in the business of acquiring, exploring for, developing and producing crude oil and natural gas. In its downstream operations, Yanchang Petroleum International is principally engaged in wholesale, retail, storage and transportation of oil products through its 70% owned subsidiary, Henan Yanchang Petroleum Sales Co., Limited, and which has been granted valid licenses for distribution and sales of oil products in China.
For details, please refer to http://www.yanchanginternational.com