After 14-day well testing operation, the single oil zone of the main interval of Polyard-8 Well is reported a steady daily light crude oil production of 153.22 barrels, with an associated daily gas production of 1,387 cubic meters. Later on, Polyard-8 Well, together with Polyard-1 and Polyard-3 Well oil blocks, will submit the Plan of Development (“POD”) to the Department of Energy (“DOE”). Upon the approval of the POD by DOE, oil production will officially commence and more production wells will be drilled to achieve scale of oil production.

Dated：Dec. 29th, 2016