GP Petroleums Limited (GULFPETRO) — Announcement | 26 August 2026

GP Petroleums Limited announced on August 26, 2026 that it entered into an exclusivity agreement with Incubit DMCC to evaluate a potential strategic acquisition of assets across India, UAE, Mauritius and East Africa, referred to as Project Petroleum. The agreement grants exclusive rights for due diligence over a four-month period and includes a $100,000 fee payable within 10 business days, which will be credited against the final consideration if the transaction proceeds. The filing confirms no existing shareholding in Incubit DMCC and notes related party connections through director Harshavardhan Sinha. The company emphasized that the agreement does not obligate completion of the deal and remains subject to regulatory, due diligence and financing approvals.