Next Bridge Hydrocarbons Provides Update on Continued Efforts to Engage Regulators

MIDLAND, Texas, Aug. 25, 2026 /PRNewswire/ -- Next Bridge Hydrocarbons, Inc. ("Next Bridge," "our," "we," or the "Company"), an independent oil and natural gas exploration and production company today provided an update regarding two additional, unsuccessful attempts to engage federal securities regulators in direct discussions.

For more than three years, the Company has repeatedly sought direct dialogue with regulators regarding the unprecedented events surrounding FINRA's U3 halt of MMTLP, the resulting share imbalances it left, and the continuing concerns the Company and shareholders have regarding these matters. In this regard, we recently sent the following correspondences:

August 7, 2026 - U.S. Securities and Exchange Commission (SEC).

Next Bridge Chairman and CEO Greg McCabe sent a letter to David Woodcock, the newly appointed Director of the SEC's Division of Enforcement, requesting to meet and present what the Company believes is clear evidence of unauthorized Next Bridge shares being created by U.S. broker-dealers. The letter requested a response by August 14, 2026. At this time, the Company has received no response from Mr. Woodcock and no meeting is forthcoming.

August 14, 2026 - Financial Industry Regulatory Authority (FINRA).

Mr. McCabe subsequently contacted Robert Colby of FINRA, provided copies of the recent SEC correspondence, and again requested direct communication. This letter emphasized that broker-dealers at the center of our concerns fall within FINRA's regulatory purview and reiterated our desire to identify common ground and pursue a constructive path forward.

To date, this outreach has likewise not resulted in a response or a meeting being scheduled.

Both of these recent communications are available to view and download at: www.nextbridgehydrocarbons.com/correspondences and additionally, an archive of past correspondences is available to view there as well.

The Company adds that although it intends to move forward with exploring all legal avenues open to us, it remains our preference to work with regulators to find solutions. We will work ceaselessly on behalf of shareholders to correct what we believe is a serious miscarriage of justice and prolonged inaction regarding our circumstances. 

Next Bridge Chairman and CEO Greg McCabe stated: "I am deeply troubled that our system continues to turn a blind eye to an issue affecting tens of thousands of investors. My message remains exactly as it was on day one: I am here to help. We are asking for nothing more than a seat at the table, an honest examination of the facts, and a path toward resolution that is fair to all parties."

About Next Bridge Hydrocarbons, Inc.

The Company is an independent public reporting energy company engaged in the acquisition, exploration, exploitation and/or development of oil and natural gas properties in the United States. We have minor well interests in the eastern edge of the Midland Basin in Texas, two minor well interests in Oklahoma and exploration prospect leaseholds in the onshore southern Louisiana Gulf Coast area. Visit our website www.nextbridgehydrocarbons.com for more information.

Next Bridge is a private company insofar as its common stock is not traded on a public stock exchange of any kind. The Company is expected to update shareholders about certain operational and financial matters related to our business. To receive emails regarding this, visit our investors page and complete the "Investor Email Form". You may also follow our social media channels @nbhydrocarbons on X (Twitter) and "Next Bridge Hydrocarbons" on LinkedIn.

Forward Looking Statements

This press release may contain "forward-looking statements" as that term is defined in the Private Securities Litigation Reform Act of 1995. Such statements are based on management's current expectations and are subject to a number of factors and uncertainties which could cause actual results to differ materially from those described herein. Although the Company believes the expectations in such statements to be reasonable, there can be no assurance that such expectations will prove to be correct. Information concerning the assumptions, uncertainties and risks that may affect the actual results can be found in the Company's filings at www.sec.gov or on our website.

Investor contact:
Next Bridge Hydrocarbons Investor & Public Relations
[email protected]

SOURCE Next Bridge Hydrocarbons, Inc.