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Tuesday, 14 November 2017, 20:05 HKT/SGT

Source: Persta Resources Inc.
Persta Resources Signs a Turnkey Services Agreement with CNPC Greatwall Drilling Company's Subsidiary

HONG KONG, Nov 14, 2017 - (ACN Newswire) - Persta Resources Inc. ("Persta" or the "Company," stock code: 3395), a Calgary-based energy company principally engaged in natural gas and crude oil exploration and production in Western Canadian Sedimentary Basin, with a focus on natural gas, is pleased to announce that the Company and Advance Drilling Limited, a direct wholly-owned subsidiary of CNPC (China National Petroleum Corporation) Greatwall Drilling Company ("GWDC") have signed a turnkey services master agreement on drilling/ completion/ testing integration on 13 November 2017.

Mr. BO Le, President, Chairman of the Board and Chief Executive Officer of Persta, said, "We will accelerate the development of our oil and gas fields in the region of the Alberta Foothills, our core asset area, especially the newly discovered zones from recent explorations in Voyager as disclosed in our announcement dated 7 November 2017. With the support of the strong technical capabilities of GWDC as well as its provision of services with safety, high quality and high efficiency, Persta and GWDC would be able to achieve win-win outcomes and share the fruit of growth."

About Persta Resources Inc. (stock code: 3395)
Persta Resources Inc. is a Calgary-based company principally engaged in natural gas and crude oil exploration and production, with a focus on natural gas. It focuses on long-term growth through acquisition, exploration, development and production in the Western Canadian Sedimentary Basin ("WCSB").

It commenced operations in March 2005 with the objective of building a successful Canadian natural gas and crude oil exploration, development and production company with a long-term business strategy. It acquired its first 6,400 net acres of land in an area in the WCSB in January 2007 known as the Alberta Foothills and drilled and commercially produced liquids-rich natural gas from its first deep well in this area in December 2008. Its natural gas and oil production rate has grown organically since then. As of 31 December 2016, it held 115,968 net acres of land in the WCSB, which it intends to explore through drilling in locations listed in its multi-year inventory.

For additional information, please visit website: http://www.persta.ca

About Advance Drilling and GWDC
Advance Drilling is the direct wholly-owned subsidiary of GWDC. GWDC is a specialized petroleum engineering and technical services company directly under the China National Petroleum Corporation. GWDC currently employs approximately 30,000 staff and is principally engaged in three sectors of drilling, technical services and risk general contracting. Its scope of business covers geological exploration, drilling, logging, mud logging, downhole operations and other petroleum engineering technology industrial chain, and extends to fields such as pre-geology research of oil and gas fields, exploration and development design program, development of natural gas (coalbed methane and shale gas), geothermal development and production management of oilfields, with the capability of integrated services for petroleum engineering and technology. Its domestic markets mainly include Liaohe, Changqing, Daqing and the domestic oil contracting market for international oil companies. Its overseas operations are located amongst 33 countries in Africa, Central Asia, the Middle East and America providing services for more than 130 customers.

For additional information, please visit website: http://www.gwdc.com.cn/

For press enquiries:
Strategic Financial Relations Limited
Joanne Lam Tel: (852) 2864 4816 Email: [email protected]
Davis Li Tel: (852) 2864 4892 Email: [email protected]
Ovina Zhu Tel: (852) 2114 4955 Email: [email protected]

Topic: Press release summary
Sectors: Energy, Daily News
From the Asia Corporate News Network

Copyright © 2017 ACN Newswire. All rights reserved. A division of Asia Corporate News Network.

Mr. BO Le, President, Chairman of the Board and Chief Executive Officer of Persta Resources Inc. (right) and Mr. FAN Jiang, President of Advance Drilling Limited (left) sign a turnkey services master agreement to establish a strategic partnership of the two companies.
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(From left to right) Mr. LANG Rui, Business Development Manager of Advance Drilling Limited; Mr. FAN Jiang, President of Advance Drilling Limited; Mr. BO Le, President, Chairman of the Board and Chief Executive Officer of Persta Resources Inc.; Mr. Dave WANG, Senior Vice President, Exploration of Persta Resources Inc.; Mr. DAI Binyou, Vice President, Engineering of Persta Resources Inc.
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