Avila Energy Corporation is Pleased to Announce an Increase in its 3rd Party Processing Volumes and an Operational Update

CALGARY, AB / ACCESSWIRE / March 20, 2024 / Avila Energy Corporation ("Avila" or the "Company" or "Avila Energy"), trading symbol trading symbol, (CSE:VIK)(OTCM:PTRVF)(FRA:6HG0), is pleased to announce an expected increase in its 3rd Party Processing Volumes and an Operational Update.

On November 14, 2023, Avila Energy reported that the Company, as part of its long-term plans, it would initially be focused until the end of the first Quarter of 2024 on one of three goals, the establishment of a resilient mid-stream business from which it would continue to grow. The foundation for this resilient business would become an integral part of a Company that can produce, upstream production of low emissions Oil, Natural Gas and Liquids in combination with mid-stream processing, power generation, carbon capture and CO² sequestration. These are the initial two revenue streams of the three revenue streams that Avila has identified as being the core components of its Vertically Integrated Energy Business.

Mid-stream 3^rd Party Processing Services

Avila recently received notice from its 3^rd party customer that Avila should expect additional volumes of up to 4,000 mcf/d before the end of March of 2024. Furthermore, it is expected that by October of 2024, upon the completion of the tie-in of a proposed pipeline to the Company's gathering system, the customer is prepared to continue to increase its delivery of natural gas to over 10,000 mcf/d.

This increase in 3^rd party revenues, in combination with Avila's production growing to over 1,000 BOE/d by early 3^rd quarter of 2024, solidifies the Company's initial two segments of its three revenues streams. These revenue streams are to be established as part of Avila's focus on the development of the Corporation's ability to become a Carbon Neutral Vertically Integrated Energy Company, capable of delivering economically sustainable carbon neutral energy products directly to industrial customers and retail consumers.

Upon the stabilization of its mid-stream business, Avila, as previously disclosed, sees this as being an important precursor to the sanctioning and construction of Phase I, of its CCS plan a 10 MW natural gas fired low emissions Power Generation facility. This is designed to be tied into a Carbon Capture and CO² Sequestration facility to be on-site also by Avila Energy Corporation. The Company's two (2) facilities in West Central Alberta are currently capable of producing 15,000 mcf per day and are expected to be operating at capacity by the end of 2024 prior to construction being completed on the 10 MWs of power generation.

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