Avila Energy Corporation Is Pleased To Announce Its $0.06 per Share Earnings As Stated in Its Financial Report for the Three and Nine Months Ended September 30, 2022 and Provides a Corporate Update - Seite 2

Further, our asset base and our established land positions in Canada along with the plans we have for their current and future un-booked potential are generating an air of excitement within the Company's engineering and operational teams. Our shareholders should look forward to participating in the realization of our past efforts and the fruits of our employees' and contractors' future efforts going forward into 2023 through to 2027", said President & CEO Leonard B. Van Betuw.

For further details shareholders and other interested parties are encouraged to review the Company's financial results and the Management Discussion and Analysis, available on the Company's website at www.avilaenergy.com.

FUTURE GROWTH:

"The Company is extremely focused on the integration of the assets owned by the Company for future growth. In accordance therewith, these reported results are a reflection of the increased earnings made effective from September 1, 2022 (post-closing of, and the result of, the consolidation of the acquisition of 100% of the assets in West Central Alberta), as recently approved by the shareholders of the Company at a Special Meeting of the Company held on August 31, 2022. The Company's extreme focus remains on increasing earnings and as a result increasing the value of the Company for the future." said President & CEO Leonard B. Van Betuw.

Avila Energy's financial position on September 30, 2022, remains strong.

Avila Energy is focused on obtaining our first goal of reaching consistent production of 6,000 BOE/d; followed by incremental steps to increase production to 8,000 BOE/d and thereafter to 12,000 BOE/d.

The continuing creation of shareholder value is the foundation of the business which is being built by Avila Energy. Avila Energy is pleased to report the envisioned plan is progressively evolving.

CURRENT FINANCIAL POSITION:

The Company's financial position is as follows.

Working Capital $ 1,902,424

Total Assets $ 59,823,671

Drawn lines of Credit Nil

Long Term Debt and Accrued Labilities $ 12,657,064

Decommissioning Provisions $ 14,160,967

Total Shareholder's Equity $ 32,572,562

"The current rate of growth in revenues are projected to continue (upstream) for the next 24 months as we progress with the development, firstly, of our proven developed non-producing assets (PDNP), in parallel with the development of our proven reserves (TP) in Alberta and British Columbia in 2023.