Brightoil Petroleum : DELAY IN PUBLICATION OF 2020 INTERIM RESULTS ANNOUNCEMENT AND DESPATCH OF 2020 INTERIM REPORT

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

BRIGHTOIL PETROLEUM (HOLDINGS) LIMITED

光滙石油(控股)有限公司*

(Incorporated in Bermuda with limited liability)

(Stock Code: 933)

DELAY IN PUBLICATION OF 2020 INTERIM RESULTS ANNOUNCEMENT AND

DESPATCH OF 2020 INTERIM REPORT

This announcement is made by Brightoil Petroleum (Holdings) Limited (the "Company" and together with its subsidiaries, collectively the "Group") pursuant to Rule 13.09 of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the "Listing Rules") and the Inside Information Provisions under Part XIVA of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong).

Reference is made to the announcements of the Company dated 3 October 2017, 28 February 2018, 28 September 2018, 1 February 2019 and 31 January 2020 respectively in relation to the delay of the publication of annual results and interim results from the year ended 30 June 2017 to the year ended 30 June 2019 (the "Outstanding Financial Results") and the publication of the unaudited management accounts for the year ended 30 June 2017, 2018 and 2019 and six months ended 31 December 2017 and 2018 on 31 January 2020. As a result of the recent outbreak of Novel Coronavirus Disease and the consequential measures implemented by the government authorities of the People's Republic of China ("PRC"), the Company's current auditor (HLB Hodgson Impey Cheng Limited) cannot travel to PRC to perform any audit procedures on the Outstanding Financial Results. The Company is therefore unable to publish the unaudited management accounts and interim results announcement for the six months ended 31 December 2019 and to despatch the interim report for the six months ended 31 December 2019 by 31 March 2020.

CONTINUED SUSPENSION OF TRADING

Trading in the Company's shares on the Stock Exchange has been suspended since 3 October 2017 pending the publication of the Outstanding Financial Results, and will remain suspended until further notice. The Company will make further announcement(s) as and when appropriate.

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By Order of the Board

Brightoil Petroleum (Holdings) Limited

Tang Bo

Chairman

Hong Kong, 28 February 2020

As at the date of this announcement, the Board comprises (i) one Executive Director, namely Mr. Tang Bo; (ii) two Non-executiveDirectors, namely Mr. Dai Zhujiang and Mr. Zhao Liguo; and (iii) three Independent Non-executiveDirectors, namely Dr. Lo Wing Yan William, JP; Mr. Wang Tian and Mr. Chan Wai Leung.

* For identification purposes only

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