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AAG garners the CAPITAL 10th Outstanding China Enterprise Awards – CAPITAL Outstanding Unconventional Gas Enterprise

Release date: 24-Jun-2015

(Hong Kong, 24 June 2015) – AAG Energy Holdings Limited (‘AAG Energy’ or the ‘Group’,  stock code:2686), the leading independent CBM producer in China, has been honoured at the 10th Outstanding Enterprise Awards, organised by Capital Magazine after stringent selection, as the‘CAPITAL Outstanding Unconventional Gas Enterprise’.

 

Dr. Steve Zou, Chairman and Executive Director of AAG Energy, said, ‘We are pleased to be named the‘CAPITAL Outstanding Unconventional Gas Enterprise’ in China by Capital Magazine. On behalf of the Company, I would like to thank our strategic partners, shareholders, investors and staff for their steadfast support of our development. As a leading independent CBM producer in China, we were listed on the Main Board of theHong Kong Stock Exchange on 23 June 2015, recognition of our dedication and success. CBM representsa new green energy with high potential, andthe related industry will soon embark on fastgrowth in China.AAG Energy, bolstered by its recent listing, is consolidating our existing advantages and capitalising on an outstanding management and innovativeness of our teams. As national policies support the development of clean energy, we are continuing to explore new investment projects that hold strong potential, striving to promote the development and usage of CBM and consolidate our industry-leading presence so as to reward our shareholders, investors and staff for their trust and support through continued achievements.’

 

AAG Energy was listed on the Main Board of Hong Kong Stock Exchange on 23 June 2015. As one of the first international energy companies toengage in the CBM business in China, it is primarily engaged in exploration, development, production and sales of CBM in China. AAG Energy’s key assets, the Panzhuang and Mabi concessions, are located in the southern Qinshui Basin in Shanxi Province which contains the largest proven CBM geological reserves in China. With suitable technologies and production techniques, the Group is able to ramp-up production volumes more quickly and achieve lower costs than its competitors. Moreover, the Group’s experienced management team has been actively involved in the CBM/energy resources industry for more than 20 years and is supported by a local workforce which has contributed to its strong track record of securing Government approvals on CBM projects and full commercial production for the Panzhuang concession. Through its considerable experience in evaluating and applying the appropriate technology for the commercial development of CBM, AAG Energy is in a leading position in China’s CBM development industry.

 

The ‘Outstanding Enterprise Awards’are annually presentedto leading companies wthin the commercial sector of Hong Kong. The results are evaluated and selected by the judging panel comprising Capital Magazine’s Editorial Board and business leaders, who select one outstanding company in each specific industry. As China’s influence expands in the global economy, Chinese companies are playing an increasingly important role in the global commercial stage, as they bring new momentum to the global commercial world. To recognise their contribution to the stability and prosperity of both China and the global economy, Capital Magazinehas organisedthe Outstanding Enterprise Awards for the past nine consecutive years. At the 10th Outstanding Enterprise Awards this year, 14 companies from China have been selected in recognition for their outstanding performance during the past year. 

 

About AAG Energy Holdings Limited

AAG Energy is the leading independent CBM producer in China, focusing on the development and value optimization of unconventional gas resources to supply clean energy to the Chinese economy.AAG Energy’s key assets, Panzhuang and Mabi concessions are located in the southern Qinshui Basin, which contains the largest amount of proved CBM geological reserves of any basin in China.The Panzhuang concession is the most commercially advanced Sino-foreign CBM asset in China and is the first and only Sino-foreign CBM concession in China to have received overall development plan approval.The Mabi concession received preliminary ODP approval in November 2013. The proven ability to commercialize CBM, along with a highly regarded management team has attracted support from leading international and Chinese investors including Warburg Pincus, Baring Private Equity Asia, and Ping An.

 

Photo caption

On behalf of AAG Energy, Mr Wu Yingjiang, PR Director, accepted the ‘CAPITAL 10th Outstanding China Enterprise Awards – CAPITAL Outstanding Unconventional Gas Enterprise’ from Dr Gavin K. Y. Chau, President of the Hong Kong Quality Management Association.

 
  • Press Contact

    Jiayi Wu, Joint Company Secretary's Assistant, +86 1592-859-9449, jiayi.wu@aagenergy.com