Zhongman Petroleum announced that Zhongman Babylon Oil & Gas Co., Ltd., a wholly-owned subsidiary of the company, and Xinhuaxia Energy Beijing Branch signed an agreement for research service projects such as geological research and reservoir research in the MF block in Iraq, with a total bid amount of US$4.4 million. The deal was reviewed and approved by the company's board of directors, and the relevant directors avoided voting. The transaction price is fair, follows the principle of market-based pricing, and does not harm the interests of the company and shareholders.

Zhongman Petroleum announced that Zhongman Babylon Oil & Gas Co., Ltd., a wholly-owned subsidiary of the company, and Xinhuaxia Energy Beijing Branch signed an agreement for research service projects such as geological research and reservoir research in the MF block in Iraq, with a total bid amount of US$4.4 million. The deal was reviewed and approved by the company's board of directors, and the relevant directors avoided voting. The transaction price is fair, follows the principle of market-based pricing, and does not harm the interests of the company and shareholders.