Decklar Resources Inc. Announces Trucking of Crude Oil to Market From Oza Oil Field in Nigeria

CALGARY, Alberta, May 26, 2022 (GLOBE NEWSWIRE) -- Decklar Resources Inc. (TSX-V: DKL) (OTCQX: DKLRF) (FSE: A1U1) (the “Company” or “Decklar”) is pleased to announce the initial successful shipments of crude oil via trucks from the Oza Oil Field to the Umugini Pipeline Infrastructure Limited (“UPIL”) crude handling facilities.

Decklar and its co-venturer Millenium Oil & Gas Company Limited (“Millenium”) have successfully trucked approximately 4,000 barrels of crude oil from storage tanks at the Oza Oil Field to the UPIL crude handling facilities, from which the oil will then be transferred to the Shell Petroleum Development Company of Nigeria Limited (“SPDC”) Joint Venture Forcados Oil Export Terminal via the Umugini Pipeline.

The trucks continue to be loaded from crude oil storage tanks at the Oza site that hold approximately 22,000 barrels of oil. During an initial trial trucking period, a reduced volume of crude oil was shipped by a small convoy of trucks to evaluate possible logistics and security issues and to determine optimum routes and infrastructure requirements. The initial trial period for trucking activities was successful, and the number of trucks to be used is now being increased and optimized. When sufficient shipment of crude oil volume from storage tanks has been completed, production from the Oza-1 well will be re-started to supply continued shipments by truck to UPIL.

Duncan Blount, CEO of Decklar Resources, said “We are very pleased to announce the Company’s first delivery of oil to the export facilities. This represents a significant milestone for the Company achieving full-time commercial production, transforming Decklar into a producing company with cash flow to follow in the very near future. We continue to look forward positively to future development drilling activities at the Oza Field and continued progress on development activities at the Company’s other fields.”

For further information:

Duncan T. Blount
Chief Executive Officer Telephone: [phone]
Email: [e-mail]

David Halpin
Chief Financial Officer Telephone: [phone]
Email: [e-mail]

Investor Relations: [e-mail]

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Language

Certain statements made and information contained herein constitute "forward-looking information" (within the meaning of applicable Canadian securities legislation), including, but not limited to, statements regarding: restarting production at the Oza-1 well and the timing thereof, the timing for export or sale of barrels of oil being held in storage, the future commercial production of the Oza-1 well, the use of additional trucks for the transport of oil to the export facilities, the timing for cash flow and future development drilling activities at the Oza Field . All statements in this news release, other than statements of historical facts, are forward-looking statements. Such statements and information (together, "forward looking statements") relate to future events or the Company's future performance, business prospects or opportunities. There is no certainty that definitive agreements in respect of the Transaction will be entered into, or that any conditions precedent contained therein will be satisfied on terms satisfactory to the parties or at all.