Foran Energy subsidiary secures gas supply deal with Hebei Natural Gas

Foran Energy Group announced on November 1, 2025, that its controlled subsidiary, Wuqiang Zhongshun Natural Gas Co., Ltd., officially signed a natural gas supply and consumption cooperation agreement with Hebei Province Natural Gas Co., Ltd. on October 31, 2025. This agreement followed approvals from the company's board of directors on October 15, 2025, and shareholders at the Fourth Extraordinary General Meeting on October 31, 2025.

Under the agreement, Wuqiang Zhongshun prioritizes purchasing at least 10 million cubic meters of natural gas annually from Hebei Natural Gas, contingent on competitive pricing. This collaboration is expected to diversify Wuqiang Zhongshun's gas sources, moving from a single to multiple suppliers, thereby enhancing supply security and reducing procurement costs.

The Fourth Extraordinary General Meeting of 2025 approved the related party transaction, with 99.9299% of effective voting shares in favor. This strategic move is anticipated to strengthen Foran Energy Group's market position without significantly impacting its current or future financial results or operational independence.