Next Bridge Hydrocarbons Provides Update Regarding Ongoing SEC Filings

MIDLAND, Texas, June 18, 2025 /PRNewswire/ -- Next Bridge Hydrocarbons, Inc. ("Next Bridge," "our," "we," or the "Company"), an oil and natural gas exploration and production company with interests in Texas, Louisiana, and Oklahoma today announced the following:

The Company wishes to update shareholders on the status of our ongoing communications with the Securities and Exchange Commission (the "SEC") and the progress of the restatement of our prior years' financial statements.

In cooperation with their requests, Next Bridge has provided the SEC with advance previews of our in-progress restatements of the 2022 and 2023 financial statements to be set forth in an amendment to the Annual Report on Form 10-K for the 2023 fiscal year and restatements of quarterly financial statements to be set forth in the Annual Report on Form 10-K for the 2024 fiscal year. As previously disclosed, this process has proven to be a significant expenditure of both time and capital for the Company.

Upon examination of these advance previews, the SEC has communicated a set of additional questions seeking further clarification on certain matters regarding our 2023 and 2024 financial statements. Although the questions posed and changes requested are structural and procedural in nature, the time necessary to respond to the SEC's additional comments will further delay the filing of our amendment to the 2023 Annual Report on Form 10-K and the subsequent reports for 2024 and 2025 will be impacted as well.

The Company understands this may be frustrating to our valued shareholders who are patiently awaiting the effectiveness of our Registration Statement on Form S-1. For this reason, we have provided this update to reassure shareholders we continue to work diligently with both our independent auditors and other advisors to comply with all SEC requests in a timely and thorough manner.

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. Please visit 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 Company business. To receive emails regarding this, visit https://www.nextbridgehydrocarbons.com/investors and complete the Email Alert / Investor Form. You may also choose to follow our social media channels at @nbhydrocarbons on X (formerly Twitter) and "Next Bridge Hydrocarbons" on LinkedIn.

This statement 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 with the Securities and Exchange Commission ("SEC") available on the Company's website or the SEC's website at www.sec.gov.

Investor Relations Contact:
Dennard Lascar Investor Relations
[email protected]

SOURCE Next Bridge Hydrocarbons, Inc.