SPT Energy : ANNOUNCEMENT ON WINNING THE BID FOR THE DRILLING SERVICES PROJECT IN THE KEY BLOCK OF CUCBM

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SPT Energy Group Inc. ശذঐ๕ණྠϞࠢʮ̡*

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 1251)

ANNOUNCEMENT ON WINNING THE BID FOR THE DRILLING

SERVICES PROJECT IN THE KEY BLOCK OF CUCBM

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

The board of directors (the "Board") of the Company (together with its subsidiaries, the "Group") is pleased to announce that, recently, a subsidiary of the Company has successfully won the bid for the drilling services project of a tight gas block of China United Coalbed Methane Corp. Ltd. ("CUCBM") (the "Project"). CUCBM is the only company of CNOOC Limited ("CNOOC") to develop unconventional oil and gas on land. The Project is a key project of CUCBM on tight gas block, with a tender amount of approximately RMB115,240,000. For the lot under the winning bid, the planned workload for 2021 is the provision of drilling engineering procurement construction ("EPC") services for 40 vertical/directional wells and three horizontal wells, which is expected to be completed within this year.

The Group believes that the successful bidding represents CUCBM's high recognition of the Group's technical strength, operational capability and corporate reputation, marking the Group's further expansion into the coalbed gas market of CNOOC. Drilling EPC services is a core business segment of the Group. Through years of site operation practices, the Group has optimised and improved the technology, process and collaboration in all aspects, and achieved enhancement of speed, quality and efficiency by optimising the allocation of various resources, so as to achieve win-win cooperation with customers. The Group will also continue to promote technological upgrade, deepen market expansion and maintain its leading position in the industry.

By Order of the Board

SPT Energy Group Inc.

Wang Guoqiang

Chairman

The PRC, 4 March 2021

As of the date of this announcement, the executive directors are Mr. Wang Guoqiang, Mr. Ethan Wu and Mr. Li Qiang, the non-executive directors are Mr. Wu Jiwei and 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