CHK Oil Announces Third Extension of Cooperation MOU with Aral Petroleum to 12 May 2027

CHK Oil Limited disclosed that it has signed an additional addendum on 12 November 2026 to extend its Memorandum of Understanding (MOU) with Aral Petroleum Capital LLP for another six months, pushing the potential cooperation period to 12 May 2027.

Since the initial signing on 10 November 2025, the parties have executed three sequential extensions: • First Extension: exclusivity period prolonged by three months to 9 May 2026. • Second Extension: overall MOU period lengthened by six months to 11 November 2026; the exclusivity clause was terminated at this stage. • Third Extension: current six-month continuation to 12 May 2027, granted to allow more time for due-diligence work and negotiations.

The MOU remains non-binding, imposes no statutory obligations, and will terminate if a definitive agreement is not reached before the extended deadline. Shareholders and prospective investors are advised to exercise caution when trading CHK Oil shares.

Board composition at the announcement date comprises: Executive Directors Yu Zhibo (Chairman) and Jin Ailong; Non-executive Director Zheng Ye; and Independent Non-executive Directors Zhong Bifeng, Huang Qingwei, and Chen Yawei.

The company states it will make further disclosures in compliance with Hong Kong Listing Rules if a binding agreement is concluded.