Gulf Resources (NASDAQ-GURE) discovered high levels of brine resources and natural gas in Tian Bao Town, Daying County, Sichuan Province.

In 2019, the government of Sichuan Province began to initiate a full-scale environmental plan for the mining resources, including natural gas and brine. We closed our existing well and postponed the drilling of additional wells until the government finalized its plans.

At roughly the same time, Petro-China, one of the Chinese state-owned oil companies, made what was then believed to be the largest discovery of natural gas in China in the same town as our facilities. Based on Petro-China’s discovery, we believe this area could offer very substantial opportunities.

We are still awaiting the final plan of the government before reopening. However, because China is currently facing a series of energy issues, we are optimistic that we will ultimately receive permission to reopen our existing well and drill new wells in Sichuan.

the is pleased to announce it has completed the construction of its first brine water and natural gas well field in Sichuan Province.

Photos of our facilities are shown below.