HAIMO(SZ:300084)2022-12-06 11:31Group 1: Development of Oil and Gas Blocks - The company has two parts in the Niobrara block, covering a total area of 60,000 acres, with a 10% interest in the joint development with Carrizo [2] - The company has purchased two independent development blocks, totaling approximately 7,000 acres [2] Group 2: Impact of Oil Prices on Operations - Since the second half of 2014, the company has slowed down its oil and gas development pace due to the continuous decline in international oil prices [3] - The drilling cost for shale oil and gas development in 2015 decreased by approximately 30% compared to 2013 and 2014 [3] - The company has completed three vertical wells in its independent development block, achieving high production rates, but only one well is currently in production due to low oil prices [3] Group 3: Future Outlook and Opportunities - The current international oil price is below the extraction cost for high-cost oil-producing countries, indicating that low oil prices are unlikely to be sustained long-term [4] - The company's unconventional oil and gas development costs have also decreased by about 30% in 2015, which may lead to better performance once oil prices recover [4] - Low oil prices present opportunities for the company to invest in high-quality oil and gas assets and other energy investments [4]