Antonoil's Pressure Pumping Service Enters Phase of Regular, Large-Scale Operation

HONG KONG, June 16, 2014 /PRNewswire/ -- Anton Oilfield Services Group ("Antonoil" or the "Group", HKEx stock code: 3337), the leading independent oilfield services provider in China, is pleased to announce the Group begins the operations of Pressure Pumping Service simultaneously for two wells in Erdos Basin in the provision of integrated stimulation solutions, both using horizontal oil well technologies to develop the low-efficiency unconventional oil and gas resources. Apart from providing Pressure Pumping Service, the Group also provides downhole tools and fluids to enable integrated stimulation solution. Antonoil has so far secured 18 Pressure Pumping Service contracts in Erdos Basin, all of which are framework contracts with fixed prices and a ceiling for contract volume, pursuant to which clients will notify the Group to begin operations according to the progress of their projects.

Since 2012, Antonoil has been building up the capacity for its Pressure Pumping Service and, to date, has established a capacity of 102,000 HHP. Securing the above contracts and the successful commencement of operations signal that the Group's Pressure Pumping Service has entered a phase of regular, large-scale operation. Meanwhile, both of the wells in pressure pumping operation this time involve integrated stimulation solution, illustrating that Antonoil's Pressure Pumping Service can drive the demand for other services of the Group.

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