Zhongman Petroleum (603619.SH) intends to acquire 49% equity of Xinhua Shadi in Dubai for 563 million yuan through its subsidiary.

ZMM Petroleum (603619.SH) announced that in order to further increase the reserves and production of oil and gas resources, its wholly-owned subsidiary ZMM Petroleum Natural Gas Group (Gulf) Co., Ltd. (referred to as "ZMM Gulf") plans to acquire Rising Energy International Middle East FZCO (referred to as "Rising Energy Dubai"), a wholly-owned subsidiary of China Rising Energy International (Cayman) Co., Ltd. (referred to as "Rising Energy Cayman"), owned by China Rising Energy International (Cayman) Co., Ltd. The transaction amount for this equity acquisition is 563 million RMB (equivalent to 79.3183 million US dollars). After the acquisition, ZMM Gulf will hold 100% of Rising Energy Dubai's equity, thereby indirectly holding 100% of the rights and interests in the Jiangge Block.