Parex Resources Provides Update on Northern Llanos Operations as well as Announces Timing of Q4 2023 Results - Seite 3

In particular, forward-looking statements contained in this document include, but are not limited to, statements with respect to: the Company’s focus, plans, priorities and strategies; that Parex is working towards resuming operations at the Capachos and Arauca Blocks; the Company's annual average production guidance for 2024; the anticipated timing of when Parex will release its full year and fourth quarter 2023 financial and operating guidance and independent reserves assessment; and the anticipated timing of Parex's conference call to discuss its full year and fourth quarter 2023 results.

These forward-looking statements are subject to numerous risks and uncertainties, including but not limited to, the impact of general economic conditions in Canada and Colombia; prolonged volatility in commodity prices; industry conditions including changes in laws and regulations including adoption of new environmental laws and regulations, and changes in how they are interpreted and enforced in Canada and Colombia; determinations by OPEC and other countries as to production levels; competition; lack of availability of qualified personnel; the results of exploration and development drilling and related activities; obtaining required approvals of regulatory authorities in Canada and Colombia; the risks associated with negotiating with foreign governments as well as country risk associated with conducting international activities; volatility in market prices for oil; fluctuations in foreign exchange or interest rates; environmental risks; changes in income tax laws or changes in tax laws and incentive programs relating to the oil industry; changes to pipeline capacity; ability to access sufficient capital from internal and external sources; failure of counterparties to perform under contracts; the risk that Brent oil prices may be lower than anticipated; the risk that Parex's evaluation of its existing portfolio of development and exploration opportunities may not be consistent with its expectations; the risk that Parex may not resume operations at the Capachos Block or the Arauca Block when anticipated, or at all; the risk that Parex's average annual production in 2024 may be less than anticipated; the risk that Parex may not meet its production guidance for the year ended December 31, 2024; the risk that production growth does not occur as forecasted; the risk that Parex may not release its full year and fourth quarter 2023 financial and operating guidance and independent reserves assessment when anticipated, or at all; the risk that Parex may not hold a conference call to discuss its full year and fourth quarter 2023 results when anticipated, or at all; and other factors, many of which are beyond the control of the Company. Readers are cautioned that the foregoing list of factors is not exhaustive. Additional information on these and other factors that could affect Parex's operations and financial results are included in reports on file with Canadian securities regulatory authorities and may be accessed through the SEDAR+ website (www.sedarplus.ca).