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Canlin Energy Project
Canlin Energy Project is an oil and gas exploration and development company in Canada with a total net equity area of 2.176 million acres. On September 29, 2017, MIE successfully acquired 100% partnership interests of CQ Energy Canada Partnership ("CQ", subsequently dissolved by operation of law due to having one partner being the Group’s subsidiary, Canlin Energy Corporation or "Canlin Energy").
Canlin Energy Project owns part or whole of the interests of the 11 major natural gas processing plants, with a processing capacity of 630 million cubic feet per day within its interests. As of the end of 2017, the 2P reserves owned by Canlin Energy were 335 million barrels of oil equivalent, and the net present value of 2P reserves before tax (discounted at 10%) was C$1.56 billion. In February 2015, output of equity peaked 71,390 barrels of oil equivalent per day. The annual production of oil equivalent had historically ever reached 10 million tons in this area.