08:06 AM EDT, 06/26/2025 (MT Newswires) -- Gold Reserve ( GDRZF ) overnight Wednesday said that its Delaware subsidiary, Dalinar Energy, has submitted a further revised topping bid for the purchase of PDV Holding, the indirect parent company of CITGO Petroleum.

The sales process is being conducted by the U.S. District Court. Dalinar Energy submitted an initial topping bid on June 3.

The court is scheduled to hold a sale hearing starting on August 18. The successful bid will have to be approved by the U.S. Department of Treasury' s Office of Foreign Assets Control.