SPT Energy : ANNOUNCEMENT MADE PURSUANT TO RULES 13.51B(2) AND 13.51(2)(s) OF THE LISTING RULES

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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)

ANNOUNCEMENT MADE PURSUANT TO RULES 13.51B(2) AND

13.51(2)(s) OF THE LISTING RULES

This announcement is made pursuant to Rules 13.51B(2) and 13.51(2)(s) of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited.

Reference is made to an order made by a Disciplinary Committee (the "Committee") of the Hong Kong Institute of Certified Public Accountants (the "Institute") regarding Mr. Wu Kwok Keung Andrew ("Mr. Wu"), an independent non-executive director of SPT Energy Group Inc. (the "Company") on 29 August 2019.

According to a press release of the Institute dated 9 October 2019, the Committee reprimanded a firm of certified public accountants and Mr. Wu for their failure or neglect to observe, maintain or otherwise apply professional standards issued by the Institute for their involvement in the unmodified auditor's opinions on the consolidated financial statements of a listed company and its subsidiaries for the nine months ended 31 December 2002 and for the year ended 31 December 2003, and ordered that firm of certified public accountants and Mr. Wu to pay penalties of HK$350,000 and HK$100,000 respectively. In addition, that firm of certified public accountants and Mr. Wu were ordered to jointly pay costs of the disciplinary proceedings in the sum of HK$184,690.

Given the terms of the order and the absence of allegation or finding of fraud or dishonesty against Mr. Wu, the board of directors of the Company (the "Board") considers that the order would not affect Mr. Wu's ability to continue to discharge his duties as an independent non-executive director of the Company. So far as the Board is aware, there is no other information concerning the circumstances above that needs to be brought to the attention of the shareholders of the Company.

By order of the Board

SPT Energy Group Inc.

Mr. Wang Guoqiang

Chairman

Hong Kong, 11 October 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