Potential Hengxin: The QK18-9-7 well has completed all drilling, logging, measurement, and oil testing work, with a total drilled depth of 4,820 meters.

Gelonghui April 7 | Potential恒信 Announcement, the company’s overseas wholly-owned subsidiary Wisdom Petroleum Investment Co., Ltd. has obtained exploration and development rights for the China Bohai 09/17 block by participating in the external cooperation bidding organized by China National Offshore Oil Corporation. As of now, well QK18-9-7 has completed all drilling, logging, testing, and oil testing work, reaching a total depth of 4,820 meters. The well achieved an exploration breakthrough again in the lower part of the northeast of the 09/17 contract area, with oil and gas discoveries in the Ordovician, Jurassic, and Shahejie formations. It drilled into the target layer of the Ordovician formation at a depth of 528 meters, encountered oil and gas layers in the Ordovician, with a maximum gas detection of over 60%, and the hydrocarbon components are complete. The naked eye zone of the Ordovician formation’s potential reservoir was tested and confirmed as a condensate gas reservoir. The successful drilling of this well further expands the oil and gas-bearing area of the contract zone. The drilling success of well QK18-9-7, along with all expenses related to the well’s pre-drilling preparations, drilling, and supporting services contracts, will be temporarily capitalized and will not impact the company’s operating performance for 2026.