Top Resource Energy (300332.SZ) terminates participation in SINO OIL & GAS restructuring deal.

Top Resource Energy (300332.SZ) announced that the company had planned to participate in the restructuring transaction of SINO OIL & GAS Limited (702.HK). Recently, the company received a notice from SINO OIL & GAS that the High Court of Hong Kong rejected the appeal of SINO OIL & GAS creditors' restructuring plan at the hearing held on September 13, 2024. This event triggered the termination clause of the comprehensive restructuring agreement signed by all parties. The company has decided to terminate its participation in the restructuring transaction with SINO OIL & GAS and to release all parties from their rights, responsibilities, and obligations under the restructuring agreement. The termination of this restructuring transaction will not have any adverse impact on the company's financial condition and business operations, and there is no situation that would harm the interests of the company and its shareholders. The company will continue to strengthen communication, coordination, and scheduling with upstream gas sources and downstream large industrial customers to ensure a stable gas supply and promote the long-term and steady development of the company, enhancing overall enterprise value.