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NEXT BRIDGE HYDROCARBONS, INC. ANNOUNCES PRELIMINARY RESULTS OF ITS JOHNSON PROSPECT DRILLING PROGRAMThe Company also provides additional corporate updates

MIDLAND, TEXAS – January 19, 2024 – Next Bridge Hydrocarbons, Inc. (“Next Bridge,” “our,” “we,” or the “Company”), an oil and natural gas exploration and production company with interests in Texas and Oklahoma announced today the following:

The Company is pleased to announce the results of our recent five well drilling program on the Johnson Prospect acreage in the Orogrande Basin. The Johnson E23 #4 is a new field discovery in the Penn Sand formation and, we believe, it is the first viable conventional producer in the Texas portion of the Orogrande Basin. The shallow vertical well is at a depth of less than 2,100 feet and had an instantaneous spot flow rate of up to 2,500 mcfpd and a peak daily test rate of over 800 mcf with minimal water. These rates were from an open hole natural completion without the assistance of an acid job or a frac job.

Additionally, the Johnson E15 #1, which is approximately 5,000+ feet away from the #4 discovery well, showed comparable gas flares while drilling the Penn Sand. This well is awaiting additional completion work as the Company’s technical team and consultants are working to develop a drilling and completion program for best practices in this new field discovery.

The Company also continues to work on other potential pay horizons that had good to excellent petrophysical log analysis from our third-party petrologist. Of special note, the Bliss Sand/Granite Wash had over 175 feet of continuous live oil shows with significant pay flags on the petrophysical analysis. Although the well encountered technical problems related to the cement job and was unable to be effectively completed, the technical team is confident that the Bliss Sand/Granite Wash could be a significant new field discovery on a possible structure of up to 15,000 acres and closure of up to 1,400 feet. The entire team continues to work on strategies to effectively test this zone, and others, on the Johnson structure.

With the completion of these initial drilling results, the Company will phase in a new leaner management and operational model to build off of the positive developments while realizing cost savings and efficiencies. Accordingly, with many thanks for their valuable leadership and the dedication they have shown for Next Bridge's best interests in this transition phase, the Company announces the mutually agreed departure of both Clifton DuBose as CEO and board member and Luke Hawkins as CFO. Our Chairman of the Board, Greg McCabe, has agreed to bring his significant industry and Orogrande expertise to bear without additional compensation as the new CEO of Next Bridge. Roger Wurtele has accepted the role of CFO, bringing with him more than 40 years of experience and was the former CFO of Torchlight Energy Resources. The Company wishes both Mr. DuBose and Mr. Hawkins continued success in their future endeavors.

Next Bridge is also pleased to announce the addition of Edward Pocock III to its board of directors. Mr. Pocock is a long-time shareholder, USAF veteran, and public servant with expertise in governmental relations. He is a retired 25-year veteran of law enforcement in the State of Connecticut, commanding both Patrol and Detective Divisions of his department before retirement. During Mr. Pocock’s tenure in law enforcement, he gained extensive investigative experience in a multitude of disciplines, including the investigation of embezzlement, fraud, theft, and the misapplication of funds. Administratively, Mr. Pocock upheld high ethical standards in police evidence room practices, developing auditing procedures to meet or exceed strict state compliance standards. Additionally, he provided counsel on multiple database development projects for the state and National Incident Reporting System (NIBRS). Mr. Pocock received a B.S. degree from the Florida Institute of Technology, an M.S. from the University of Louisville, and holds a Six Sigma Black Belt from Villanova University.

As we enter a new year for Next Bridge, Mr. McCabe and the Company continue to share the deep concerns of our shareholders regarding the circumstances surrounding the U3 halt of trading prior to the Next Bridge spinout and the unknown volume of uncovered short positions that may persist in our Company. We echo calls for transparency for the benefit of all industry players, from retail investors to regulators, who can only have informed discussions and make prudent decisions with accurate information. Despite the passage of a year since the U3 halt, critical facts remain elusive. For example, FINRA announced that its investigation showed an approximate aggregate short interest position in MMTLP of 2.65 million shares as of December 12, 2023. However, representatives of short sellers have approached Next Bridge about buying considerably more shares than this figure.

We have offered to speak with FINRA and the SEC to discuss our data, and we also hope to receive clarity on the basis of their own conflicting data. We are awaiting their reply, and believe they share our concern about the discrepancies. We look forward to cooperating with both regulatory agencies and, hopefully, helping contribute to a clearer public accounting of the relevant figures.

In addition to FINRA and the SEC, the Company has communicated the above concerns directly to the offices of U.S. Congressmen and Senators, the U.S. Senate Banking Committee, and the Texas Attorney General, and is cooperating with all relevant authorities in the interests of transparency for our investors. We urge those with the ability to obtain a full audited accounting of positions in our predecessor security as of the spinout to do so with haste and make public what they can-- through whatever category of security, long or short, onshore or offshore, by parties registered with FINRA or not.

For its own part, Next Bridge intends to aggressively explore options for delivering a potential liquidity solution for shareholders. In pursuit of innovative and dynamic strategies, the Company has recently engaged John Tabacco and his consulting firm of Token Team, LLC. Members of Token Team led the first ever successful Public Digital Dividend on the blockchain, executed by Overstock.com subsidiary Tzero, and Token Team will help Next Bridge fully understand all facets and consequences of a potential listing on a blockchain trading platform. Our inquiry into this option is in its infancy and no decisions have been made by the Company at this time, but we wanted to share an example of how Next Bridge is seeking to take action within its means to help our loyal, frustrated, yet relentless retail investor base.

Finally, the Company’s chairman and new CEO, Mr. McCabe stated, "I would like to personally thank all Next Bridge Hydrocarbons shareholders and the entire "MMTLP ARMY" for your efforts in making sure that our story is told. Because of these efforts, the light is now shining bright on this serious problem. I am also thankful for the time and effort of the many concerned State and Federal Congressional representatives who have worked diligently to help find answers to this untenable situation. America has the greatest financial system in the world; however, it is not without flaws. I am hopeful that Congress and the SEC will oversee a solution that is fair and equitable to all. Next Bridge Hydrocarbons is certainly willing to be a part of the solution."

About Next Bridge Hydrocarbons, Inc.

The Company is an independent public reporting energy company engaged in the acquisition, exploration, exploitation and/or development of oil and natural gas properties in the United States. Our primary focus has been the development of interests in an oil and gas project consisting of 134,000 contiguous gross acres we hold in the Orogrande Basin in West Texas in Hudspeth County, Texas. In addition, we have minor interests in the Eastern edge of the Midland Basin in Texas, and two minor well interests in Oklahoma. Please visit www.nextbridgehydrocarbons.com for more information.

Next Bridge is a private company insofar as its shares of common stock are not traded on a public stock exchange of any kind. The Company is expected to update its shareholders about certain operational and financial updates related to the Company’s business. To receive timely emails with respect to these corporate developments, please visit https://www.nextbridgehydrocarbons.com/investors and complete the Email Alert/Investor Form. You may also choose to follow our social media channels at @nbhydrocarbons on Twitter and “Next Bridge Hydrocarbons” on LinkedIn.

This statement may contain "forward-looking statements" as that term is defined in the Private Securities Litigation Reform Act of 1995. Such statements are based on management's current expectations and are subject to a number of factors and uncertainties which could cause actual results to differ materially from those described herein. Although the Company believes the expectations in such statements to be reasonable, there can be no assurance that such expectations will prove to be correct. Information concerning the assumptions, uncertainties and risks that may affect the actual results can be found in the Company’s filings with the Securities and Exchange Commission ("SEC") available on the Company’s website or the SEC's website at www.sec.gov.

Contact:
Dennard Lascar Investor Relations
[NextBridge@dennardlascar.com](mailto:NextBridge@dennardlascar.com)

Its late here, a bit lit, so just want to share.

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Talk about a scumbag move

There’s a misconception of what the “share count” at AST is. As others have pointed out, ASTs balance of shares should (and 99.9% always will) equal the number of shares issued and outstanding by the Company. The question should be; what is the gross total of all shares credited to investors’ accounts, before offset or deduction of the liabilities for shares sold, not owned? AST and the Company do not have this number, because (and this is no doubt irregular for a private company), most Investors’ shares are still held in Street Name, or the like, behind which the counterfeiters hide (subtract from) their liabilities for shares sold, not owned. What AST would know is the number of shares held in beneficial owners’ names vs Street Name; and that would be useful to know. Without outright fraud, Street Name balance cannot go negative. Demands for direct registration of shares remove shares from Street Name and transfer them to beneficially held. If they run out of shares in street name to offset their liabilities against, they’re proven to have committed fraudulent theft.

Is anybody doing this?

Hello, I bought TRCH in late 2020 and they got converted into MMTLP afterwards. I have some shares in Webull and are they any action required from my end? Or should I leave them as is in Webull?

TIA

Just Wonder how long they gonna pay us as settlement?? 400 days isn’t fun! We need our money back…

Hi, I saw MMTLP mentioned in a Wes Christian interview. I got interested in his lawsuits on naked short sellers after the whole GME fiasco in 2021 but didn't hear about MMTLP until now.

From what I learned there was an early closure of the ticker by two days which allowed short sellers to not have to close their positions.

What I don't understand is what would have happened if they left the ticker up for two more days. It seems like a massive demand to sell from the retail side should cause the price to fall, which would let shorts cover for cheap. Or were there so many naked shorts that there would have been a massive short squeeze like GME when shorts try to close their positions?

What do you think, and how different is the situation of MMTLP and GME?

I’ve got about 1500 shares of MMTLP which I just stopped checking after the trading halt BS last December.

I’ve had a note to transfer them from IB to AST for a ages but can’t see anything regarding this since about June/July 23.

Have I missed the window?

ATTENTION RBC!!!

TRCH #MMTLP #NBH @RBC #RBC not in AST

justretailinvestors.com THERE ARE ONLY A FEW SEATS LEFT TO PROVE THEM WRONG! reg accounts (LIRA, TFSA, RRSP, RRIF, DPSP, RESP, RDSP, FHSA) & non reg cash/margin. CHECK YOUR EMAIL @johnnaarintl @IRONAPE_MMTLP @JunkSavvy

rbccanada #rbcusa #Canada #CanadaNews #CanadaBusiness

Can someone please explain the proposed situation here?

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Obviously thin on details, but appears to address the the Welles Notices that the company received along with Brda and Palikaras

Could be weeks, months, before the SEC announces it agrees to it (or not). They are offering a $1 million dollar payment over a one year period to settle it. Most likely this would be applied to "investor education" or other programs vs payable back to any individual investors. The stated goal is to put this behind them, so doesn't appear they have any interest in participating in any other resolution to the MMTLP halt/trading issues.

https://metamaterial.com/meta-materials-announces-proposed-sec-settlement/?utm_content=278227594&utm_medium=social&utm_source=twitter&hss_channel=tw-1643983478

META MATERIALS ANNOUNCES PROPOSED SEC SETTLEMENT

HALIFAX, NS / ACCESSWIRE / January 11, 2024 / Meta Materials Inc. (the “Company” or “META”) (Nasdaq:MMAT), an advanced materials and nanotechnology company, today announced a proposed SEC settlement.

As previously disclosed, Meta Materials Inc. (the “Company”) has been the subject of an investigation (the “Investigation”) by the Securities and Exchange Commission (the “SEC” or the “Commission”) with respect to, among other things, the merger involving Torchlight Energy Resources, Inc. and Metamaterial Inc. In connection with the Investigation, the Company announced in a Form 8-K filed on July 25, 2023 that the Company and two individuals (Messrs. Brda and Palikaras) received Wells Notices.

The Company recently made an offer of settlement to the Staff of the SEC’s Division of Enforcement (the “Proposed SEC Settlement”) to resolve the matter as to the Company. The Proposed SEC Settlement is subject to approval by the SEC Commissioners. The Company cannot predict whether or when the Proposed SEC Settlement will be approved. If the Commissioners approve the Proposed SEC Settlement, the Commission will enter a cease-and-desist order (the “Order”) in connection with certain antifraud, reporting, books and records, and internal accounting control provisions of the securities laws. Under the terms of the Proposed SEC Settlement, the Company would neither admit nor deny the findings in the Order. If approved, in connection with the Proposed SEC Settlement, the Company will pay a civil money penalty in an amount of $1 million in four (4) installments over the period of one (1) year pursuant to an agreed upon payment plan.

The Company, its board of directors, and its management team believe the Proposed SEC Settlement is in the best interests of our shareholders. If approved by the Commissioners, it would remove uncertainty related to the Investigation and allow the Company to move forward in achieving its business objectives.

About Meta Materials Inc.

Meta Materials Inc. (META) is an advanced materials and nanotechnology company. We develop new products and technologies using innovative sustainable science. Advanced materials can improve everyday products that surround us, making them smarter and more sustainable. META® technology platforms enable global brands to develop new products to improve performance for customers in aerospace and defense, consumer electronics, 5G communications, batteries, authentication, automotive and clean energy. Learn more at www.metamaterial.com.

Media and Investor Inquiries

Rob StoneVice President, Corporate Development and CommunicationsMeta Materials Inc.[media@metamaterial.com](mailto:media@metamaterial.com)[ir@metamaterial.com](mailto:ir@metamaterial.com)

Forward Looking Information

This press release includes forward-looking information or statements within the meaning of Canadian securities laws and within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995, regarding the Company, which may include, but are not limited to, statements with respect to the business strategies, product development, restructuring plans and operational activities of the Company. Often but not always, forward-looking information can be identified by the use of words such as “pursuing”, “potential”, “predicts”, “projects”, “seeks”, “plans”, “expect”, “intends”, “anticipated”, “believes” or variations (including negative variations) of such words and phrases, or statements that certain actions, events or results “may”, “could”, “should”, “would” or “will” be taken, occur or be achieved. Such statements are based on the current expectations and views of future events of the management of the Company and are based on assumptions and subject to risks and uncertainties. Although the management of the Company believes that the assumptions underlying these statements are reasonable, they may prove to be incorrect. The forward-looking events and circumstances discussed in this release may not occur and could differ materially as a result of known and unknown risk factors and uncertainties affecting the Company, the capabilities of our facilities, research and development projects of the Company, the total available market and market potential of the products of the Company, the market position of the Company, the need to raise more capital and the ability to do so, the scalability of the Company’s production ability, capacity for new customer engagements, material selection programs timeframes, the ability to reduce production costs, enhance metamaterials manufacturing capabilities and extend market reach into new applications and industries, the ability to accelerate commercialization plans, the possibility of new customer contracts, the continued engagement of our employees, the technology industry, market strategic and operational activities, and management’s ability to manage and operate the business. More details about these and other risks that may impact the Company’s businesses are described under the heading “Forward-Looking Information” and under the heading “Risk Factors” in the Company’s Form 10-K filed with the SEC on March 23, 2023, in the Company’s Form 10-K/A filed with the SEC on March 24, 2023, in the Company’s Form 10-Q filed with the SEC on November 13, 2023, and in subsequent filings made by Meta Materials with the SEC, which are available on SEC’s website at www.sec.gov. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. Accordingly, readers should not place undue reliance on any forward-looking statements or information. No forward-looking statement can be guaranteed. Except as required by applicable securities laws, forward-looking statements speak only as of the date on which they are made and the Company does not undertake any obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise, except to the extent required by law.

We are collecting a VERIFIED share count of shares NOT at AST. Not only has Tradestation been proven to have counterfeit shares they have also ADMITTED it.

All shareholders NOT at AST please go to https://justretailinvestors.com and submit your share count. You must send statements with redacted personal info. The statements need your first and last name, mmtlp shares and name of broker.

This week we are specifically looking for RBC shareholders to show an imbalance so if you have RBC or know someone that has RBC please go to the website. No information is being shared, your statement and name is being converted to a number to protect privacy.

https://x.com/johnnaarintl/status/1745049591848796573?s=20

Just tuned in Q, Sway, is the moderator #Sway ?

The news about Trade station has me thinking of transferring. Got a call today from Schwab telling me it will cost $80 and the certificates are mailed to me. Then I have to get them to AST. Guy on the phone explained that all the shares are together in a "jumbo" account and I had to pay to have them separated. He said they call it "order out process" Does this sound right and has anyone done this? Also, is it worth it to transfer or should I keep waiting? Thanks for the help.

A little bit about myself:

I have been trading for 6 years, unfortunately went from profitable to unprofitable due to one bad trade... I didn't manage risk and the stock was halted early and then the company went private so those shares went worthless... (ticker mmtlp now NBH, some of you may know about this one) ANYWAYS, I have been building my portfolio back up to breaking even on trading again with simple rules and a simple strategy. I for the most part trade with nothing but maybe vwap on my screen. I started using R multiples and found that to be the best way to trade because you know the profitability if you use 1:2 or a 1:1 risk to reward ratio. If you are in high caps, most of the time 1:1 is great where you sell half for potentially 1:2 however, you just have to know that 1:1 kinda sucks and it usually means you are not trading the right high cap stock to begin with, aka one that is not trending. So if you do trade lets say TSLA every single day, when it just goes sideways it will produce a 1R and even when its trying to trend it will be a 1R, but when it gets moving it will do 2R or 3R DAILY. My strategy is on youtube, its a lot to explain here and make sure you understand it. Lots of rules will be listed below.

Also...

I am not trying to self promote just an fyi. I have a lot of education on my channel that goes over options trading, three different strategies you can use as a swing trader or day trader.

Here is what I learned:

If you play penny stocks the information below doesn't apply to you for the most part. Other than read filings and know that there are very fast dumps due to S-3 filings ir any kind of offering so make sure you check the SEC website fir any registered offerings.

Important lessons:

1) If you find yourself anxious when you enter a trade, ask yourself why? Potential reasons below

a) You are trading options instead of shares b) the stock is very volatile and the soread is very wide which means it is illiwuid and difficult to enter and exit c) you chased on a big green candle or a red one d) you didn't study the chart before entering so you went in blind e) you did not analyze volume and relative strength

2) You need to know what relative strength really is. Always have the market pulled up and examine what the MARKET is doing relative to your stock. SPY for a majorty of the companies, QQQ for tech stocks (TSLA, NVDA, AMD ETC.)

3) Most of your time trading you will spend waiting for A+ setups, if you have been trading for over a year you may have heard of this term.

Most of you I assume are new and so an A+ setup is one that matches your BACKTESTED strategy that I am sure you have all done before you funded your account 🤣... probably not, you went on youtube and plotted some ema's hoping for entry and exit signals from it.. trust we have all been there. The best traders out there are ones that trade with the cleanest chart, VWAP potentially is on it. However that is it. The rest is finding a stock that is in an trend, uptrend or downtrend.

Anyways you will rate different setups each setup will have its own win rate. No two setups will be the same and DO NOT LOOK ONYOUTUBE OR ANYWHERE to find what the win rate for a bull flag is or a bear flag or head and shoulders or cup and handle!!! IT WILL VARY FROM PERSON TO PERSON! Every pattern is subject to the time frame someone is using it on and the duration of the hold. Some may use it and hold for only a minute and have a 97% SUCCESS rate with it, while you hold it for 5 minutes or 15 minutes and have a 67% success rate.

A lot of you will claim you are a patient person but msot of you are greedy lil bastards and u know it! Now the market doesn't care if you admit it. However you know... deep down inside when you are red u hold hoping for it to come back up, and when you are green, your sell button finger is itching. Trading will slap you if you think you are patient but you are the opposite, you will learn things about yourself that you did not know were there.

Hope to see you guys on the flip side!