Oil and Natural Gas - Utah Gas and Oil Field Project, USA

CHK Oil has acquired 100% exploitation interest of the Utah Gas & Oil Field project in the U.S. in 2010, which is located in Uintah Basin of Utah, Midwestern of the United States, which has a very long history and a good location for oil and gas business with matured infrastructure including water, electricity, roads and other logistic facilities around.

The Company has focused its business on oil and gas exploration, production and field operations in the Utah Gas and Oil Field, which is mostly a gas field. Being cleaner and cheaper energy, gas has more advantages than other traditional energy like coal and oil and has therefore been given priority to develop by the government of the United States. The Company would like to develop the field by cooperating with investors of solid financial strength to increase production and income of gas and oil business.