Anton Oilfield Services announced that it has signed an in-depth strategic cooperation agreement with China Oil HBP Science & Technology Co. Ltd. (HBP) and Geo-Jade Petroleum Corporation (Geo-Jade Petroleum). Geo-Jade Petroleum and HBP will also take a stake in Anton Oilfield Services as strategic investors.

Under the strategic agreement, the parties will set a long-term goal to form an industry alliance with the core edge of optimizing the value of oil and gas resources, which will also have a high risk tolerance capacity. Taking oil and gas resources business as a core, supported by an engineering technology business, the alliance will distribute its businesses globally with a focus on the 'One Belt and One Road' region, while scaling and integrating all businesses in each targeted country and region. Serving as a preferred partner to each other, the three parties will collaborate and jointly develop in a comprehensive manner, providing complementary support in the markets where they are strong in, as well as sharing resources and information.

The strategic agreement is based on a framework, with its specific scope of cooperation subject to the contract to be signed by the parties. In terms of capital cooperation, Geo-Jade Petroleum has signed a share subscription agreement with the Group to subscribe to approximately 9.09% of the total existing shares of the Group as a strategic investor. The board of HBP has applied for a stake of no more than 5% of all the Group's existing shares, and will seek an opportunity to make the purchase upon shareholder approval at the general meeting.

The three partners are all committed to achieving long-term development in the oil and gas industry, and have broadly similar markets and highly complementary businesses. It is in the fundamental interests of these three companies to establish long-term and in-depth strategic cooperation, through partnering each other in business and capital.