Corporate History & Milestones

Yanchang Petroleum Group exercises the conversion rights of the USD60 million convertible bonds which converted to approximately 6.19 billion conversion shares at the conversion price of HKD0.076 per conversion share, reflecting the financial and strategic support from the parent company

Announces business turnaround in 2018, operating profit surged 25 times to HK$99.7 million, while profit for the year was HK$6.3 million

Yanchang Petroleum Group enters into a New Supply Agreement with Henan Yanchang to continuously supply refined oil for the three years ending 31 December 2022. The aggregate purchase amount will not exceed RMB4,020 million

The Canadian business arm - Novus Energy Inc. achieves turnaround with oil and gas production of 1.055 million BOE

Yanchang Petroleum International successfully issues convertible bonds in the principal amount of US$60,000,000

Issues a USD60 million convertible bonds to its parent company - Yanchang Petroleum Group

Canadian Novus ranks among top producing wells in Viking Play

Completed its first market rasing by issuing CB of USD 46.3 million to CCBI, and successfully introduced CCBI as a strategic investor

Novus' results consolidated into the Company and Novus becomes its core growth engine

The net profit attributable to the Company’s core businesses achieved approximately HKD211 million, almost three times increase year on year

Continuing M&A of international upstream projects while developing its downstream business

Acquisition of Novus Energy Inc., a Canadian oil and gas company, at CAD230 million, expanding its international upstream business

Issued Convertible Bonds of $1.6 billion to Yanchang Petroleum Group, which become the largest shareholder with equity interest increased to 53.03% (being granted whitewash waiver)

Refined oil business achieved significant growth

Yanchang Petroleum Group received placement of 1.3 billion new shares, and become the single largest shareholder with equity interests increased to 29.69%

Change of company name to Yanchang Petroleum International Limited

Acquired 70% interests in Henan Yanchang and embarked operation of refined oil trading and storage business

Yanchang Petroleum Group acquired 917 million shares, and became a major shareholder with 15% equity interests

Acquired 100% interests in Madagascar oil exploration blocks 3113 and 2104