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MIE Holdings Corporation (“MIE”) is one of the leading independent upstream oil and gas companies in China. It focuses on the exploration and development of oil and natural gas. Through years of operation, MIE has been able to demonstrate its technical advantages in low permeability and unconventional projects, and its management capability and development level have reached international leading level.
After more than 10 years of development, MIE has operated two oil and gas exploration projects and 9 oil and gas development projects, with more than 5,000 wells and a cumulative oil and gas production capacity of more than 2 million tons of oil equivalent.
MIE has participated in the investigation of nearly 100 oil and gas blocks in North America, South America, East Asia, Southeast Asia, Central Asia and Europe.
MIE currently operates several oil and gas producing blocks in China and Kazakhstan, with total area of over 0.27 million acres. In China, MIE operates Daan Project in Jilin Province In Kazakhstan, MIE participates the operation of four production including Aksaz, Dolinnoe, Kariman and Emir and one exploration blocks.
Based on 2020 year-end reserves estimates reviewed by independent consultants, the MIE 2P net present value, before tax and discounted at 10% (NPV10) is approximately US$584 million.