East Asia Oil Engineering Group Limited entered into Equity Transfer Agreement to acquire Mexford Holdings Limited from Polyard Petroleum International Group Limited (SEHK:8011) for HKD 1.8 million on November 2, 2021. Transferring HKD 1.8 million to the bank and setting-off against the down payment HKD 8 million payable by China International Mining Petroleum for the drilling service to be provided by the Transferee for SC49 project in the Philippines under the Turnkey Drilling Service Agreement. The board of Polyard Petroleum International passing a resolution approving the Equity Transfer Agreement and the transactions.

East Asia Oil Engineering Group Limited completed the acquisition of Mexford Holdings Limited from Polyard Petroleum International Group Limited (SEHK:8011) during December 31, 2021.