Decklar Resources Announces Crude Oil Injection Volumes From the Oza Oil Field Through the Trans Niger Pipeline and Additional Sales to Local Refinery

• Decklar Resources Inc. and its co-venturer Millenium Oil & Gas Company Limited announce an update on crude oil injection from the Oza Oil Field through the Trans Niger Pipeline to the Bonny Export Terminal.
• Decklar and Millenium continue to sell additional crude oil production from the Oza Oil Field to a local refinery in Edo State.

CALGARY, Alberta, Jan. 22, 2024 (GLOBE NEWSWIRE) -- Decklar Resources Inc. (TSX-V: DKL) (OTC: DKLRF) (FSE: A1U1) (the “Company” or “Decklar”) and its co-venturer Millenium Oil & Gas Company Limited (“Millenium”) are pleased to announce initial crude oil injection volumes into the Trans Niger Pipeline (“TNP”) for transport to the Bonny Export Terminal from the Oza Oil Field and continued sales to a local refinery in Edo State.

Delivery of Crude Oil from the Oza Oil Field

During the period from November 28, 2023 through January 21, 2024 Decklar and Millenium injected over 20,000 barrels of crude oil (“bbls”) into the TNP for transport to the Bonny Export Terminal. Crude oil production from the Oza Oil Field through the TNP to the Bonny Export Terminal will be sold to Shell Western Supply and Trading Limited. Crude oil held in storage and crude oil being produced into storage tanks from the Oza-1 and Oza-4 wells is being transported 15 km by truck to the transfer pumping station at the Oza Oil Field then injected into the TNP.

Injection into the TNP experienced some delays in December 2023 due to the export permit volumes for the fourth quarter 2023 being reached and additional volume approvals were required. The first quarter 2024 export and volume allowable permits were issued on December 29, 2023 and the infield trucking permits received on January 8, 2024. Injection is currently ongoing into the TNP.

In addition, between December 18, 2023 and January 21, 2024, over 10,000 bbls were delivered by truck to a refinery customer in Edo state.

Sanmi Famuyide, CEO of Decklar Resources, said, “We are very pleased with these initial crude oil injection operations into the TNP from the Oza Oil Field. This is a significant milestone, and the Company expects to receive a vessel nomination for the first batch of crude oil export and sale in the next few weeks. The restoration and continued operation and availability of the Trans Niger Pipeline connection between the Oza Oil Field and the export terminal will allow Decklar and Millenium to deliver a steady stream of crude oil to market and to generate revenue to improve the Company’s financial position and enable progress with additional field development drilling plans. In addition, the approximately 8,000 barrels of crude oil Decklar and Millenium previously delivered to the Forcados export terminal is expected to have a vessel nomination in the next few weeks with export and sales comes thereafter.”