"Morita Energy Group Co., Ltd. (hereinafter referred to as "Morita Energy") is a two-level professional group company of China Morita Enterprise Group Co., Ltd., established in Beijing in 2010, has jurisdiction dozens of domestic and foreign member companies, mainly engaged in oil, natural gas, And other energy projects in the exploration and development. Morita Energy's Wolf Petroleum Ltd (ASX: WOF, hereinafter referred to as WOF) is the largest oil block owned company in Mongolia, holding 27 blocks in Mongolia, BU blocks and JINST Block three oil blocks 100% of the development rights, exploration and development permit a total area of 74000 square kilometers, and has been approved by the Mongolian government production contract. The assessment by the US independent professional assessment firm MHA shows that the 27 block is expected to have about 1.092 billion barrels of oil reserves. The implementation of international development is an important industrial strategic layout of Morita Energy. Zhongxian Oil & Gas Co., Ltd., which is incorporated in Mongolia, is mainly engaged in the investment and development of energy projects such as oil and gas and minerals. With the implementation of the project, will further broaden and improve the Group's energy industry chain, to achieve long-term strategic development goals, especially in promoting the Group's international and overseas mergers and acquisitions will play an important role. But also to ensure that the Mongolian oil and gas exploration and development process to accelerate, will achieve the smooth import of crude oil to the country, the Group and the future development of national economic development have a positive role in promoting.
Morita Energy relies on the strength of China's Morita, in response to the national "area along the way" development strategy, focusing on the global market layout, give full play to the market, capital, talent, mechanisms and other advantages, the business have achieved rapid development. Has been operating in a number of countries, oil and gas exploration and development blocks, the initial establishment of oil and gas exploration and development to the international oil trade, warehousing and transportation, oil refining industry chain. Morita Energy adhering to the concept of "limited resources, unlimited innovation and harmonious development", and unremittingly advocating and fulfilling the social responsibility of enterprises, always adhere to the scientific concept of development, by promoting scientific and technological progress and technological innovation, improve the comprehensive utilization of resources to protect the mining environment; Promote mining reclamation, environmental greening and ecological restoration, and strive to create wealth at the same time, to achieve economic and social benefits of the coordinated development."
WOF Price at posting:
4.5¢ Sentiment: Hold Disclosure: Held