Petro king Oilfield Services : Announcements and Notices - DELAY IN DESPATCH OF CIRCULAR IN RELATION TO (I) MAJOR AND CONNECTED TRANSACTION IN RELATION TO THE DISPOSAL AND DEEMED DISPOSAL OF EQUITY INTERESTS IN SUBSIDIARIES; AND (II) DISCLOSEABLE AND CONNECTED TRANSACTIONS

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.

PETRO-KING OILFIELD SERVICES LIMITED

百勤油田服務有限公司

(Incorporated in the British Virgin Islands with limited liability)

(Stock Code: 2178)

DELAY IN DESPATCH OF CIRCULAR IN RELATION TO

1. MAJOR AND CONNECTED TRANSACTION IN RELATION TO THE DISPOSAL AND DEEMED DISPOSAL OF EQUITY INTERESTS IN SUBSIDIARIES;

AND

(II) DISCLOSEABLE AND CONNECTED TRANSACTIONS

Reference is made to the announcement of Petro-king Oilfield Services Limited (the "Company") dated 15 November 2020 (the "Announcement") in relation to, among others, the Transactions and the Loan Facilities. Capitalised terms used herein shall have the same meanings as defined in the Announcement unless the context requires otherwise.

As disclosed in the Announcement, a circular (the "Circular") containing, among other things, further particulars of the Transactions, a letter from the Independent Board Committee, a letter from the Independent Financial Adviser, valuation reports of Petro-king Huizhou and Star Petrotech, other information as required under the Listing Rules, and the notice of EGM to consider and, if thought fit, to approve the resolutions relating to the Transactions will be despatched to the Shareholders on or before 31 December 2020.

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As additional time is required for the Company to finalise certain information for inclusion in the Circular, the despatch date of the Circular will be postponed to a date on or before 12 January 2021.

By Order of the Board

Petro-king Oilfield Services Limited

Wang Jinlong

Chairman

Hong Kong, 31 December 2020

As at the date of this announcement, the executive Directors are Mr. Wang Jinlong and Mr. Zhao Jindong; the non-executive Directors are Mr. Lee Tommy and Ms. Ma Hua; and the independent non-executive Directors are Mr. Leung Lin Cheong, Mr. Tong Hin Wor and Mr. Xin Junhe.

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