Potential Hengxin: QK18-9-7 well has completed all drilling, logging, well testing, and trial production operations, with a final well depth of 4,820 meters.

Golden Ten Data reported on April 7th that Potential Hengxin announced its wholly owned overseas subsidiary, Smart Petroleum Investment Co., Ltd., has acquired exploration and development rights for Block 09/17 in China's Bohai Sea through participation in an international cooperation tender organized by China National Offshore Oil Corporation. As of now, well QK18-9-7 has completed all drilling, logging, well logging, and oil testing operations, with a final well depth of 4,820 meters. This well has achieved another exploration breakthrough in the lower area of the northeast direction of the 09/17 contract area, with oil and gas discoveries made in the Ordovician, Jurassic, and Shahejie formations. Drilling into the Ordovician buried hill target layer reached 528 meters, encountering oil and gas layers in the Ordovician with gas readings exceeding 60%, featuring a complete range of hydrocarbon components. Formation tests of the Ordovician buried hill open-hole section confirmed a condensate gas reservoir. The successful drilling of this well has further expanded the oil and gas bearing area of the contract zone. The drilling success of QK18-9-7 well means that all expenses related to pre-drilling preparation, drilling, and supporting service contracts for this well will be temporarily capitalized and will have no impact on the company's operating performance in 2026.