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Voluntary Announcement 3rd Quarter 2018 Operations Update

Release date: 30-Oct-2018

AAG Energy’s Operations Remain Strong in 2018Q3
 
AAG Energy Holdings Limited (HKEX stock code: 2686) is pleased to announce its operations update for 2018Q3, i.e. three months ended September 30, 2018.
 
Key Quarterly Highlights:
  • By the end of September 2018, The National Development and Reform Commission of the People’s Republic of China officially announced its Approval of Overall Development Plan for Cooperation on Southern Block in Mabi CBM Concession in Shanxi Qinshui Basin initiated by the Company
  • AAG continues to outperform the HSE target with zero injury in 2018Q3
  • AAG’s gross average daily production for 2018Q3 achieved 2.24 MMCM per day (‘‘MMCMD’’) (Panzhuang 1.96 MMCMD, Mabi 0.28 MMCMD), a 3.2% increase compared to the 2018Q2, and a 24.4% increase compared to 2017Q3
  • Panzhuang drilled 15 SLH wells (2017Q3: 10 SLH wells) and 2 PDW wells in 2018Q3 (2017Q3: 1 PDW wells), and 13 wells were put into production
  • Panzhuang Average Well-head Sales Price (‘‘ASP’’) was 1.66 RMB per cubic meter (‘‘rmb/m3’’) in 2018Q3, an increase of 10.7% over 2018Q2, and an increase of 31.7% over 2017Q3
  • Mabi ASP increased by 21% to 1.39 rmb/m3 in 2018Q3 from 1.15 rmb/m3 in 2017Q3
 
For details, please refer to the announcement: http://www3.hkexnews.hk/listedco/listconews/sehk/2018/1030/LTN20181030253.pdf
and you can also find the document on the announcements page of AAG's website: http://www.aagenergy.com/en-US/file/files/2018-10-30/13584883235.pdf
  • Press Contact

    Jiayi Wu, Supervisor of the Board Office, +86 1592-859-9449, jiayi.wu@aagenergy.com