SINOGEO(SZ:300191) news flash·2025-06-19 11:47Core Viewpoint - The company Wisdom Oil Investment Co., Ltd., a wholly-owned subsidiary of Potential Energy Holdings (300191), has secured exploration and development rights in the Bohai Sea Block 9/17 through a bidding process organized by China National Offshore Oil Corporation (CNOOC) [1] Group 1: Contract and Exploration Details - Wisdom Oil signed a 30-year production sharing contract with CNOOC on April 12, 2019, for the exploration area, with all exploration costs to be covered by Wisdom Oil [1] - If commercial oil and gas discoveries are made in the 9/17 block, Wisdom Oil will hold at least 49% of the extraction rights, with a production period of 15 years [1] - Since the start of exploration activities, six exploratory wells have been drilled in four exploration layers, all yielding oil and gas discoveries [1] Group 2: Upcoming Drilling Operations - To confirm the oil and gas reserves in the Ordovician carbonate rock structure QK18-9, Wisdom Oil has completed various preparatory works for the QK18-9-6 well, including geological design and drilling engineering design [1] - The drilling operation for QK18-9-6 is expected to commence on June 20, 2025, with the total drilling and associated costs projected to be no more than $16 million [1] - The drilling contractor is CNOOC Oilfield Services Co., Ltd., and the supporting service company is CNOOC AIP Oil and Gas Testing (Tianjin) Co., Ltd. [1]