Securities Code: 300191
Securities Abbreviation: Poten Environment
Announcement No.: 2026-057
Poten Environment Energy Technology Co., Ltd.
Progress Announcement for Major Contract in the South China Sea 22/05 Block
The Company and all members of the Board of Directors guarantee the truthfulness, accuracy, and completeness of the information disclosed, and there are no false records, misleading statements, or material omissions.
I. Background
On February 15, 2022, Poten Environment Energy Technology Co., Ltd. ("Poten Environment" or "the Company"), through its wholly-owned overseas subsidiary Smart Oil Investment Ltd. ("Smart Oil"), officially signed a Production Sharing Contract—the "South China Sea 22/05 Block Oil Contract" ("Oil Contract") with China National Offshore Oil Corporation ("CNOOC"). Smart Oil became the operator for exploration, development, and production operations in the contract area. According to the Oil Contract, Smart Oil holds 100% exploration rights in the block for a 6-year exploration period, undertaking detailed seismic data processing and interpretation, integrated geological and geophysical research, and overall oil and gas evaluation, including well site selection and drilling operations. If commercial oil and gas discoveries are made in the block, Smart Oil will hold a 49% production interest, with a production period of 15 years.