Next Bridge Hydrocarbons Secures Additional Funding

MIDLAND, Texas, Aug. 21, 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 announce it has successfully completed a six-million-dollar ($6,000,000) capital raise through private equity debt financing. The details of the transaction will be disclosed in a forthcoming Form 8-K to be filed with the SEC and available for review on the EDGAR database.

Next Bridge will use this capital to meet funding commitments required to participate in the drilling and completion of our working interest in the "Panther Prospect", which is anticipated to begin shortly and continue into Q4 in the onshore Louisiana coastal area.

Other uses for these funds will be the retirement of a previously disclosed third-party debt obligation in the principal amount of $2 million, as well as general corporate and accounting purposes. These include, but are not limited to, the ongoing costs of restating prior filings with the SEC and costs associated with certain previously disclosed litigation. None of these funds will be used for repayment of any debts owed Next Bridge Chairman and CEO Greg McCabe.

Mr. McCabe stated, "It is with great pleasure that I announce this successful capital raise. We wish to make clear to our valued shareholders that we remain steadfast in our commitment to move Next Bridge forward, and the continued support of our private equity investors only further solidifies this resolve. Participating in the Panther Prospect is an exciting new chapter for us and the official beginning of our diversification into Louisiana and East Texas. We look forward to sharing this adventure with you all as it progresses."

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]

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SOURCE Next Bridge Hydrocarbons, Inc.