September 10, 2023
JH Energy Corp (“JH Energy”) is pleased to announce the results of an independent assessment conducted by Ultrado Geoscience on the estimated recoverable resources in the DOA oil block, located in Chad. Ultrado has determined that the block contains an estimated 754 million barrels of recoverable oil, based on its analysis of the 2023 SE-1 well and extensive geological data. JH Energy is currently focusing its development on three key zones, with significant upside potential across additional untapped areas within the DOA block. This assessment highlights the immense resource base JH Energy is positioned to develop over the coming years. The standard recovery rate for conventional oil fields is typically between 10-25% (Journal of Petroleum Technology, September 2019). JH Energy is actively exploring opportunities to improve oil recovery through advanced drilling techniques and enhanced oil recovery (EOR) technologies.
Our team is encouraged by the findings of this independent report, which confirms the vast potential of the DOA block,” said Joe Zhang, CEO of JH Energy. “This assessment underscores our commitment to unlocking value from this highly prospective asset, and we are excited about the future opportunities it presents for the company and our shareholders.”
About JH Energy
JH Energy Corp is an international oil and natural gas company focused on the exploration, development, and production of energy assets. The company’s flagship project is the DOA oil block in Chad, where it holds exclusive development rights under a Production Sharing Agreement (PSA) with the Republic of Chad. JH Energy is dedicated to creating long-term value for its shareholders through sustainable development practices and cutting-edge technology.
For more information, visit our website at www.jhenergycorp.com.
Contact Information:
Joe Zhang
CEO, JH Energy Corp
Email: joe_zhang@jhenergycorp.com
Phone: (409) 223-6625
Michael Miao
President & CFO, JH Energy Corp
Email: michael_miao@jhenergycorp.com
Phone: (647)629-3051