On May 14, 2024, Geo-Jade Co., Ltd. (hereinafter referred to as the "Company") disclosed the “Announcement on Winning the Development Rights for Iraq Oil and Gas Blocks.” The company participated in the fifth (+) and sixth rounds of oil and gas block bidding organized by Iraq’s Ministry of Oil and successfully won the bid for exploration, development, and production contracts for the Zurbatiya and Jabel Sanam blocks.

On October 21st, Geo-Jade held a Semi-annual Performance Briefing where the company addressed investor questions on topics including Mergers and Acquisitions, Market Value Management, Iraq Project Development, and Helium Reserves.

At 18:34 local time on October 4, 2024, a significant milestone was reached in the Naft Khana (NK) seismic acquisition project on the challenging yet opportunity-filled land of Iraq—the 2D project successfully fired its first shot! Production is currently progressing steadily, injecting strong momentum into the entire project. Meanwhile, preparations for the 3D project are also in full swing, and it will soon begin blasting operations.

The company has not yet signed a formal contract with the Iraqi Ministry of Oil. The oilfield development plan for the bid-winning blocks needs to be clarified through negotiation with the Iraqi Ministry of Oil, and the specific investment amount for the blocks cannot be determined yet.

On April 24-25, 2024, Geo-jade Petroleum, upon the grand invitation of the The Ministry of Energy of Turkmenistan, jointly participated in the "2024 Turkmen Energy Investment Forum" (TEIF, 2024) in Paris, France, together with Beijing Huineng Company.