NEXT BRIDGE HYDROCARBONS, INC. RELEASES STATEMENT REGARDING EQUINITI'S SHARE TRANSFER PROCEDURES

MIDLAND, Texas, Feb. 21, 2024 /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 and Oklahoma today provided the following statement:

There has been some confusion among the Public and Brokers as to the transfer process for Next Bridge Hydrocarbons (NBHC) shares. As such, Equiniti (formerly AST) has shared with us that it wishes to inform both domestic and international NBHC retail shareholders alike of the official workflow and protocol for transference of Next Bridge Common Stock shares into the Equiniti system. 

The transfer process is always initiated by shareholders themselves through the respective Brokerage firm holding their shares. At no time is it the responsibility of retail shareholders to "open" an Equiniti account for themselves. The Brokerage firm previously holding shares in "Street Name" for the holder will supply Equiniti with a Transfer of Ownership form indicating the holder's personal and financial information.  Equiniti will create an account for the shareholder from those instructions.  Shortly thereafter, Equiniti will mail shareholders an account statement with their account number, which can then be used to register for and enter our Shareholder Central online portal. The account statement will also contain Equiniti's contact information for shareholder's reference. From that point forward, shareholders may at any time access either the online portal or telephone system for future communications and information regarding their accounts.

In some instances, shareholders may receive a paper Stock Certificate from their Brokerage firm, if so arranged. In this case, shares will be recorded in "Certificate" form within Equiniti's system, but physically possessed by the holder.  If they so wish, shareholders can ship the stock certificate directly to Equiniti, along with instructions to convert the paper certificate into "Book Entry" shares to be held electronically.  Either way, the holder's share balance and account information will be securely recorded with the Equiniti system.

To reach the Equiniti Shareowner Services, email [email protected] or use the information below:  

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. Our primary focus has been the development of interests in an oil and gas project consisting of 134,000 contiguous gross acres we hold in the Orogrande Basin in West Texas in Hudspeth County, Texas. In addition, we have minor interests in the Eastern edge of the Midland Basin in Texas, and two minor well interests in Oklahoma. Please visit www.nextbridgehydrocarbons.com for more information.

Next Bridge is a private company insofar as its shares of common stock are not traded on a public stock exchange of any kind.  The Company is expected to update its shareholders about certain operational and financial updates related to the Company's business.  To receive timely emails with respect to these corporate developments, please 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 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.

Contact:
Dennard Lascar Investor Relations
[email protected]

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SOURCE Next Bridge Hydrocarbons, Inc.