Good Progress of Drilling at Tuzi 4 Deep Well in Xinjiang with Rich Gas Reserves Discovered

[For Immediate Release]

Good Progress of Drilling at Tuzi 4 Deep Well in Xinjiang with Rich Gas Reserves Discovered

(27 August 2015 - Hong Kong) Brightoil Petroleum (Holdings) Limited ("Brightoil Petroleum" or the "Group"; stock code: 933.HK) is pleased to announce that the drilling at its new deep well at Tuzi Gas Field in Xinjiang, i.e., the Tuzi 4 Deep Well, is progressing positively. The well is designed to reach the Jurassic Ahe Formation, which was expected to be at a depth of 4,270 meters. The drilling has now reached the formation at a depth of 4,170 meters. During the drilling rich gas reserves were discovered, thereby laying a solid foundation for the Group's upstream development.

Promising gas reserves were detected at the Jurassic Kizilnur Formation at a depth of about 3,210 meters and at the Yangxia Formation at a depth of 3,700 meters. While the overlaying mud pressure on top of the Kizilnur Formation was as high as 66 MPa, daily gas production is estimated to be 80,000 cubic meters per well and while the overlaying mud pressure on top of the Yangxia Formation was as high as 81 MPa, the daily gas production is estimated to be 150,000 cubic meters per well. The Group's natural gas reserves will see a significant boost upon completion of the Tuzi 4 Deep Well, and will hence strengthen the cross-sector development of upstream operations.

Dr. SIT Kwong Lam, Chairman of Brightoil Petroleum, said, "The wide fluctuations in the energy market are creating valuable opportunities for the Group to expand its upstream business. With an aim of developing Brightoil Petroleum into a renowned international resource-based energy conglomerate, we will actively explore various viable ways to boost our oil and gas reserves as well as production, which would thereby reinforcing our upstream operations. The smooth progress of the drilling work at the Tuzi 4 well marks a milestone for us in achieving this goal."

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For additional information about Brightoil Petroleum, please visit the Company's website at www.brightoil.com.hk.

Press Release distributed by: Brightoil Petroleum (Holdings) Limited For media enquiry, please contact: Hill+Knowlton Strategies Asia Fax: (852) 2576 1990 David Shiu Tel: (852) 2894 6372 david.shiu@hkstrategies.com Jobie Cheung Tel: (852) 2894 6260 jobie.cheung@hkstrategies.com