Sino Oil and Gas : FURTHER POSTPONEMENT OF COMPLETION DATE FOR SUBSCRIPTION OF NEW SHARES UNDER GENERAL MANDATE

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.

(Incorporated in Bermuda with limited liability)

(Stock Code: 702)

FURTHER POSTPONEMENT OF COMPLETION DATE

FOR SUBSCRIPTION OF NEW SHARES UNDER GENERAL MANDATE

References are made to the announcements of the Company dated 19 June 2019, 19 July 2019, 20 August 2019, 21 August 2019 and 6 September 2019 (the "Announcements") in relation to the subscription of new shares under general mandate. Definitions and terms used in this announcement, unless the context requires otherwise, shall bear the same meanings as defined in the Announcements.

As disclosed in the announcement of the Company dated 6 September 2019, the Company and the Subscriber agreed in writing to postpone the Completion Date to on or before 20 September 2019. On 20 September 2019, the Company and the Subscriber agreed in writing to further postpone the Completion Date to on or before 11 October 2019 (or such other date as the parties thereto the Subscription Agreement may agree in writing) since additional time is required for the Subscriber to arrange funding for completion of the Subscription. Save and except for the aforesaid further postponement of the Completion Date, all other terms of the Subscription Agreement remain unchanged.

By order of the Board

Sino Oil and Gas Holdings Limited

Dai Xiaobing

Chairman

Hong Kong, 20 September 2019

As at the date of this announcement, the Board comprises three Executive Directors, namely, Dr. Dai Xiaobing, Mr. King Hap Lee and Mr. Wan Tze Fan Terence; three Non-executive Directors, namely, Mr. Chen Hua, Mr. Huang Shaowu and Ms. Chai Lin, and three Independent Non-executive Directors, namely, Professor Wong Lung Tak Patrick, Dr. Wang Yanbin and Dr. Dang Weihua.