Core Viewpoint - Zhongman Petroleum (603619) announced the acquisition of a 49% stake in Rising Energy International Middle East FZCO from its subsidiary, aiming to enhance its oil and gas resource volume and production rights [1] Group 1: Acquisition Details - The acquisition amount is 563 million yuan [1] - Upon completion of the acquisition, Zhongman Haibay will hold 100% equity in Rising Energy International Middle East FZCO [1] - This acquisition will indirectly grant Zhongman Haibay 100% rights in the Jiange Block [1]

Core Viewpoint - Zhongman Petroleum (603619.SH) announced the acquisition of a 49% stake in Rising Energy International Middle East FZCO from Xinhua International Energy Development Co., Ltd. for 563 million RMB (approximately 79.32 million USD), aiming to enhance oil and gas resource volume and production rights [1] Group 1: Acquisition Details - The acquisition will allow Zhongman Haibay to hold 100% of Rising Energy International Middle East FZCO, thereby indirectly owning 100% rights in the Kenge block [1] - The transaction amount is 563 million RMB, which is equivalent to 79.32 million USD [1] Group 2: Strategic Goals - The company adheres to the core development philosophy of "resources are king, technology is fundamental" and is focused on strengthening its oil and gas exploration and development business [1] - The Kenge block in Kazakhstan has begun to form a scalable production capacity, and the overall project development has entered a phase of efficient implementation [1] - This acquisition is expected to improve exploration and development efficiency, achieve increased reserves and production, and lower costs while enhancing the company's rights reserves and production scale [1]