Further to the approval of the Plan of Development of SC49 by DOE, on 24 February, 2018, at 9:00 a.m., Polyard Petroleum International Group's sixth appraisal well, Polyard-9 Well, successfully spudded in. The Polyard-9 Well, with a designed total depth of 1,150 meters, will mainly target at the Maingit Sandstone in the west flank of Alegria Anticline to acquire parameters of the oil and gas reservoir, which will provide the reliable basis for future production and development. It is expected that Polyard-9 Well will reach the target depth in 16 days. Upon completion of all the appraisal works, Polyard-9 Well will convert into a production well.

Dated：Feb. 26th, 2018