News

Novus Delivers Industry Record Results and Technical Excellence

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

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