Beiken Energy Group (002828.SZ) is planning to participate in an oil and gas exploration and development project in Canada. The total investment for the project is expected to be 156 million Canadian dollars.

Announcement from Beiken Energy Group (002828.SZ): The company's wholly-owned subsidiary, Beiken Energy Group (Chengdu) Co., Ltd. (referred to as "Beiken Chengdu"), has signed a cooperation agreement with EVERGO RESOURCES LIMITED, regarding the establishment of a joint venture company, Benke Resources Limited, and cooperation on overseas projects. According to the agreement, the parties will jointly invest in oil and gas rights projects in Alberta and Saskatchewan, Canada, with a total estimated investment of 156 million Canadian dollars. The announcement states that the joint venture company will acquire oil and gas rights in 10 leases in Alberta and Saskatchewan, totaling 1510.038 hectares, including related oil and gas assets, ground leases, and all related rights under exploration, operation, processing, sales, collection, storage, transportation and other related agreements. The geological reserves of the aforementioned rights are estimated to be approximately 100 million barrels. The announcement further mentions that the signing of this cooperation agreement is an effort to push the company towards upstream oil and gas resource development and is expected to have a positive impact on the company's medium-to-long-term development.