China Petroleum Holdings received notice on 1 November 2024 that Crescent Spring appointed Hon Siu Fai of Global Vision CPA Limited as the receiver to handle Crescent Spring's assets, including shares in Weiyuan and Soperton. Weiyuan and Soperton are investment holding companies registered in the Cayman Islands and the British Virgin Islands respectively, holding shares in Oriane Energy International Limited and Megabit Capital Limited. The Company is assessing the legal, financial and operational impact of the acquirer and will closely monitor developments.THE COMPANY IS DISCUSSING SOLUTIONS WITH CONSULTANTS TO PROTECT STAKEHOLDER INTERESTS AND ENSURE THE LONG-TERM DEVELOPMENT OF THE GROUP. THE COMPANY WILL ACTIVELY COMMUNICATE WITH CREDITORS TO SEEK RESTRUCTURING SOLUTIONS. Shareholders and potential investors should exercise caution when buying and selling company shares.

China Petroleum Holdings received notice on 1 November 2024 that Crescent Spring appointed Hon Siu Fai of Global Vision CPA Limited as the receiver to handle Crescent Spring's assets, including shares in Weiyuan and Soperton. Weiyuan and Soperton are investment holding companies registered in the Cayman Islands and the British Virgin Islands respectively, holding shares in Oriane Energy International Limited and Megabit Capital Limited. The Company is assessing the legal, financial and operational impact of the acquirer and will closely monitor developments.THE COMPANY IS DISCUSSING SOLUTIONS WITH CONSULTANTS TO PROTECT STAKEHOLDER INTERESTS AND ENSURE THE LONG-TERM DEVELOPMENT OF THE GROUP. THE COMPANY WILL ACTIVELY COMMUNICATE WITH CREDITORS TO SEEK RESTRUCTURING SOLUTIONS. Shareholders and potential investors should exercise caution when buying and selling company shares.