CITIC RESOURCES (01205) has announced an update regarding the legal proceedings initiated by its indirect, wholly-owned subsidiary, Seram Energy Limited, against SKK Migas concerning the Seram Block. The company has been informed by its Indonesian legal counsel of the latest development in this case.

The Indonesian State Administrative Court has issued a ruling stating that it lacks jurisdiction over the claim submitted by Seram Energy and has declared the claim inadmissible. The court's decision was based on the finding that, although a letter dated August 11 possesses the characteristics of an administrative decision, the core of the dispute between the parties originates from contractual arrangements. Consequently, the matter should be resolved through the dispute resolution mechanism stipulated in the Production Sharing Contract, rather than through administrative adjudication.

As a result, the State Administrative Court did not review or rule on the merits of Seram Energy's claim. Unless an appeal is filed, the court's judgment will become effective and binding after February 23, 2026.

In light of this recent development, the company is currently seeking further legal advice and evaluating its options. CITIC RESOURCES will continue to take appropriate actions to protect its rights and legitimate interests related to the Seram Block under applicable laws and contractual arrangements.