CITIC Resources Holdings Limited (CITIC Resources, 1205) has reported an update regarding the legal proceeding filed by its indirect wholly owned subsidiary, Seram Energy Limited (Seram Energy), against SKK Migas concerning the Seram Block. According to the announcement, the State Administrative Court in Indonesia (SAC) ruled that it lacks jurisdiction over the matter and declared Seram Energy’s claim inadmissible.

The SAC stated that while the contested letter in question contains attributes of an administrative decision, the dispute arises from contractual arrangements to be resolved under the Production Sharing Contract. The court did not evaluate the merits of Seram Energy’s claim. The judgment will become final and binding after 23 February 2026 unless appealed. CITIC Resources is currently seeking legal advice and considering possible options.

CITIC Resources confirms that it will continue to protect its rights and interests related to the Seram Block in accordance with applicable laws and contractual arrangements. Further announcements will be made if there are any significant developments. The announcement reminds shareholders and potential investors to exercise caution when dealing in the company’s securities.