Next Bridge Hydrocarbons Announces Completion of Amended Financial Statements

MIDLAND, Texas, Dec. 11, 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 has recently filed amended Quarterly Reports on Form 10-Q/A for the first three quarters of 2024. This marks the successful completion of the amending and restatement processes for fiscal years 2023 and 2024 which had been requested by the Securities and Exchange Commission (the "SEC"). As a result, an Annual Report on Form 10-K for the year ending December 31, 2024 was filed on December 10, 2025.

As previously announced, Next Bridge has received a letter from the SEC confirming their review of our amended Form 10-K/A for fiscal year 2023. These amended Form 10-Q/A filings now resolve all open comments regarding those statement periods and with that, the Company has honored all restatement requests made by the SEC and fulfilled our commitment to the lengthy process required to do so.

The Company also updates that drilling activities on the Panther Prospect in Louisiana have drawn to a close and will now move on to the Valentine Prospect in nearby La Fourche Parish. Geologic logging data revealed minimal output potential and a decision was made to discontinue work on Panther and progress to Valentine. The Valentine Prospect, Broncho Prospect, and other Wildcat SPV acquisitions all remain key assets with the potential to become substantial and impactful reserves.

Next Bridge Chairman and CEO Greg McCabe stated, "I take great pleasure in informing our extremely patient shareholders that this lengthy chapter of restating prior years' financials is behind us. It has taken a tremendous expenditure of time, effort, and money to get us here, but we are now able to move on to our other highly important endeavors. And move on we will. I look forward to updating everyone as our journey progresses, including our strategic shift into Louisiana as our focus area."

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 and available to view at www.sec.gov or on the Company's website.

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

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SOURCE Next Bridge Hydrocarbons, Inc.