Pursuant to paragraph 9.04(g) of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad (“Bursa Malaysia”), Barakah Offshore Petroleum Berhad ("the Company") wishes to announce that its wholly owned subsidiary, PBJV Group Sdn. Bhd. (“PBJV”) has, on 28 February 2023, received notification from its appointed solicitors that a Writ and Statement Claim had been served against Chew Theam Hock (“CTH”) and Samling Resources Sdn. Bhd. (“SAMLING”) on 23 February 2023 for the total sum of RM40,100,000.00 (“the Claim”), breakdown of which are as follows:-

(a) A declaration that CTH and SAMLING have misrepresented PBJV when PBJV has been made to believe that a project will be obtained from Petronas and will be jointly carried out;
(b) An order for special damages of RM100,000.00 being the charges for services rendered and work done towards completion of working papers relating to the tender;
(c) Damages of RM40,000,000.00 as a result of loss of income from the said project which was supposed to be jointly acquired with the second defendant (i.e. SAMLING);
(d) General damages to be assessed by the Court;
(e) Alternatively, damages to be assessed by the Court as a result of loss of project;
(f) Costs; and
(g) Such other Relief as the Court may deem fit and reasonable.

This is a claim by PBJV for the existence of mutual understanding between parties involved and subsequent misrepresentation by CTH and SAMLING which further led into PBJV having been side-lined and deprived of its entitlement as earlier agreed.

The Company will make the appropriate announcements to Bursa Malaysia as and when there are material developments in relation thereof.

This announcement is dated 28 February 2023.