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MarketScreener Homepage  >  Equities  >  Hong Kong Stock Exchange  >  SPT Energy Group Inc.    1251   KYG8405W1069

SPT ENERGY GROUP INC.

(1251)
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SPT Energy : VOLUNTARY ANNOUNCEMENT IN RELATION TO AWARD OF A TENDER FOR A SHALE GAS DRILLING PROJECT

09/25/2019 | 10:18am EST

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

SPT Energy Group Inc.

華油能源集團有限公司*

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 1251)

VOLUNTARY ANNOUNCEMENT IN RELATION TO

AWARD OF A TENDER FOR A SHALE GAS DRILLING PROJECT

This announcement is made by SPT Energy Group Inc. (the "Company") on a voluntary basis.

The board of directors of the Company (the "Board") is pleased to announce that Sinopetroleum Technology Inc., a subsidiary of the Company, has recently won a tender for a drilling project of a shale gas exploration block in the Guizhou region of China (the "Project"). The contract value of the Project is approximately RMB70 million, and the scope of services covers the drilling turnkey project of two wells.

In order to secure the national energy safety, optimize and adjust the energy structure and increase the supply of clean energy, policies have been introduced by the Chinese government successively, and the exploration and development of shale gas continue to prosper in China. The Company and its subsidiaries (the "Group") have accumulated abundant experience in the integrated services of shale gas wells through the in-depth development of shale gas and other non-conventional oil and gas exploration and development businesses by closely following the national strategy. The successful tender award of the Project means that the Group has further obtained more market recognition in terms of technical strength in the field of exploration and development of shale gas and new development opportunities have been brought to the Group.

The non-conventional oil and gas development business has become one of the important sources of business growth for the Group. Through the implementation of the Project, the Group will further optimize its industrial plan, promote technology research and development and innovation, and provide customers with better services to expand market shares and explore broader development prospects.

By order of the Board

SPT Energy Group Inc.

Mr. Wang Guoqiang

Chairman

Hong Kong, 25 September 2019

As at the date of this announcement, the executive directors are Mr. Wang Guoqiang, Mr. Ethan Wu, Mr. Li Qiang and Mr. Wu Jiwei; the non-executive director is Ms. Chen Chunhua; and the independent non-executive directors are Ms. Zhang Yujuan, Mr. Wu Kwok Keung Andrew and Mr. Wan Kah Ming.

  • For identification purpose only

Disclaimer

SPT Energy Group Inc. published this content on 25 September 2019 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 25 September 2019 14:17:05 UTC


© Publicnow 2019
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Financials
Sales 2020 1 486 M 225 M 225 M
Net income 2020 54,6 M 8,29 M 8,29 M
Net cash 2020 292 M 44,3 M 44,3 M
P/E ratio 2020 10,3x
Yield 2020 -
Capitalization 575 M 74,1 M 87,2 M
EV / Sales 2020 0,19x
EV / Sales 2021 0,22x
Nbr of Employees 4 461
Free-Float 64,9%
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Mean consensus OUTPERFORM
Number of Analysts 4
Average target price 0,22 CNY
Last Close Price 0,31 CNY
Spread / Highest target -14,2%
Spread / Average Target -28,2%
Spread / Lowest Target -36,8%
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Managers
NameTitle
Dong Fang Wu Chief Executive Officer & Executive Director
Guo Qiang Wang Chairman & Secretary
Zhi Guo Li COO & Manager-Project Expansion Department
Qiang Li Chief Financial Officer, Executive Director & VP
Wen Jiang Wan Vice President & Head-Engineering Technology
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