伦敦——G3 Exploration Ltd 是一家专注于煤层气 (CBM) 勘探和开发的独立专家，扎根于中国并专注于国际扩张，很高兴为您提供勘探和开发活动的最新进展其宝田-青山（GGZ）2区块位于中国贵州省。

截至 2017 年底，GGZ 区块亮点：

• 成功钻探 45 口 CBM 生产井（23 口垂直井、19 口定向井和 3 口 LiFaBriC），降低了 30 Bcf 天然气的风险，P10 NPV 超过 3 亿美元
• 15 口井投入生产，7 口井已显示出初步商业产气率。公司正在监测每日油井表现，以评估长期生产范围
• 在此期间共采集了 219,827 英尺（67 公里）的二维地震数据
• 获得了煤炭局先前钻探的 585 口井的选定小井眼数据，并提供了重要的煤层和地面数据
• 现在已经创建了高度可靠和可信的地下地质模型，以确定 107 公里园区区块的未来开发计划和地下优化
• 除目前已上线的7口生产井外，2017年已钻的45口井将于2018年下半年增产上线，开始GGZ区块的首次天然气销售
• 中国探明储量报告 (CRR) 在总体开发计划 (ODP) 批准之前提交，预计将于 2018 年下半年编制
• GGZ 区块的预期商业性将创造额外的股东价值，因为该区块跟随 GCZ 和 GSS 从开发到生产

区块概览

G3E是拥有GGZ区块60%权益的运营商，该区块覆盖贵州省PSC总面积947 km ^{2 。}中石油是运营权益合作伙伴，拥有剩余40%权益。该区块位于六盘水煤田内，含煤地层位于上二叠统龙滩组。该区块共有 30 个煤层，其中 7 个目前被认为有开发前景。测试区域中预期煤层的总净煤层厚度约为 66 英尺（20.1 m），其中三个煤层（17、19 和 29）的煤层厚度均超过 16 英尺（5 m）。接缝处的平均气体含量约为 529 Scf/吨（15 m ³ /吨）。总地质储量估计为 6.04 Tcf (171.1 Bcm)。截至 2016 年底，公司拥有 30 Bcf 的 2P 储备和 106 Bcf 的 3P 储备。

2017年高工区成果

2017年，G3E在贵州完成了超前勘探，成功钻完12口煤层气生产井。这些生产井钻探于三个主要煤层；即煤层号。17、19 和 29 日。这 12 口井共成功钻探 33,151 英尺（10,104 m）。该井由 Greka Drilling Ltd. 钻探，最快钻井记录为 431 m/天。

截至2017年底，勘探项目已在GGZ成功钻探45口煤层气生产井（直立井23口、定向井19口、LiFaBriC井3口），其中15口井投产，7口井初见商业产气量。公司经验丰富的煤层气生产工程师正在监控初始产气量和油井日常性能。

G3E 已获得总计 219,827 英尺（67 公里）的 2D 地震、钻探和记录的 45 口煤层气生产井，覆盖了所有七个预期煤层，并获得了煤炭局先前钻探的 585 口井的选定小井眼数据。随着重要煤层和地面数据的可用性，用于确定未来开发计划和地下优化的高度可靠和可信的地下地质模型已经完成超过 107 公里。

外表

公司成功向合作伙伴中石油提交CRR。CRR 预计将于 2018 年上半年提交给国土资源部 (MLR)。CRR 是批准 ODP 的先导，ODP 预计将于 2018 年下半年编制。

除目前已上线的7口生产井外，2017年已钻探的井将于2018年下半年增产并上线，开始GGZ区块的首次天然气销售。

市场机会

GGZ资产邻近中缅油气管道和贵州天然气管道，这两条管道均可用作从GGZ区块向最终用户输送天然气的方式。

贵州省位于中国南部，目前大部分天然气需求都是通过其他省份的管道供应的。作为市场价格晴雨表的门站定价中包含了鼓励向贵州输送的运输溢价，预计贵州境内天然气资源的开发将实现更高的利润率。贵州采购和生产的天然气应会受益于这一溢价。

LONDON -- G3 Exploration Ltd., an independent specialist in the exploration and development of coal bed methane gas (CBM), with roots in China and a focus on international expansion, is pleased to provide a progress update of the exploration and development activities for its Baotian-Qingshan (GGZ)2 Block, situated in the Guizhou Province, China.

GGZ Block highlights as of year-end 2017:

• Successfully drilled 45 CBM production wells (23 vertical, 19 directional and three LiFaBriC), de-risking 30 Bcf of gas with a P10 NPV of over $300 million
• 15 wells were put on production and seven wells have shown initial commercial gas rates. Daily well performance is being monitored by the Company to assess long term production ranges
• A total of 219,827 ft (67 km) of 2D seismic was acquired during the period
• Obtained selected slim-hole data for 585 wells previously drilled by the Coal Bureaus, with the availability of significant coal seam and surface data
• A highly reliable and credible geological subsurface model has now been created to determine future development plans and subsurface optimization over the 107-km² block
• In addition to the current seven online production wells, the 45 drilled wells in 2017 will be stimulated and put online in H2 2018 to commence initial gas sales from the GGZ Block
• Chinese Proved Reserves Report (CRR) submitted ahead of approval of the Overall Development Plan (ODP), which is anticipated to be compiled in H2 2018
• The anticipated commerciality of the GGZ Block will create additional shareholder value, as the block follows GCZ and GSS from development into production

Block overview

G3E is the operator with a 60% interest in the GGZ Block that covers a total PSC area of 947 km² in Guizhou Province. PetroChina is the working interest partner with the remaining 40% interest. The block is located within the Liupanshui coal field with coal bearing strata present in the Upper Permian Longtan formation. There are a total of 30 coal seams present in the block, of which seven are currently considered prospective for development. Total net coal thickness for the prospective seams in the areas tested is approximately 66 ft (20.1 m) with three of the seams (17, 19 and 29) showing coal thickness in excess of 16 ft (5 m) each. The average gas content across the seams is approximately 529 Scf/tone (15 m³/tone). The total gas-in-place is estimated to be 6.04 Tcf (171.1 Bcm). The Company has 30 Bcf of 2P reserves and 106 Bcf of 3P reserves as of year-end 2016.

2017 GGZ accomplishments

During 2017, G3E concluded advanced exploration in Guizhou by successfully drilling and completing 12 CBM production wells. These production wells were drilled in three major coal seams; namely coal seam no. 17, 19 and 29. A total of 33,151 ft (10,104 m) was successfully drilled in these 12 wells. The wells were drilled by Greka Drilling Ltd., with the fastest drilling record of 431 m/day.

As of year-end 2017, the exploration programme has successfully drilled 45 CBM production wells (23 vertical, 19 directional and three LiFaBriC) in GGZ, 15 wells were put on production and seven wells have shown initial commercial gas rates. Initial gas rates and well daily performance is being monitored by Company's highly experienced CBM production engineers.

G3E has acquired a total of 219,827 ft (67 km) of 2D seismic, drilled and logged 45 CBM production wells, covering all seven of the prospective seams and obtained selected slim-hole data for 585 wells previously drilled by the Coal Bureaus. With the availability of significant coal seam and surface data, a highly reliable and credible geological subsurface model to determine future development plans and subsurface optimization is complete over 107 km².

Outlook

The Company successfully submitted CRR to its partner, PetroChina. The CRR is expected to be submitted to Ministry of Land Resources (MLR) in H1 2018. CRR is a precursor to approval of the ODP, which is anticipated to be compiled in H2 2018.

In addition to the current seven online production wells, the drilled wells in 2017 will be stimulated and put online in H2 2018 to commence initial gas sales from the GGZ Block.

Market opportunity

The GGZ asset is proximate to both the China Myanmar Oil & Gas pipeline and the Guizhou Natural Gas pipeline, both of which could be used as a means to transport gas from the GGZ Block to end users.

Guizhou Province is in southern China and currently sources the majority of its gas needs by pipelines from other provinces. The development of gas resources within Guizhou itself is expected to realize enhanced margin as the city-gate pricing, which acts as a barometer for market price, includes a transportation premium to encourage delivery to Guizhou. Gas sourced and produced in Guizhou should benefit from this premium.