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

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

CALGARY, Alberta, March 27, 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 ongoing crude oil injection volumes into the Trans Niger Pipeline (“TNP”) for transport to and export from 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

Decklar and Millenium have injected over 18,400 barrels of crude oil (“bbls”) into the TNP for transport to the Bonny Export Terminal thus far in 2024. Decklar and Millenium have injected a total of 34,600 barrels of crude oil into the Bonny Export Terminal from commencement of TNP pipeline operation in late 2023. Crude oil production from the Oza Oil Field through the TNP to the Bonny Export Terminal is being sold to Shell Western Supply and Trading Limited (“Shell”). Crude oil held in storage at the Oza Oil Field and crude oil being produced into storage tanks from the Oza-1 and Oza-4 wells is being transported by truck a short distance in-field to the transfer pumping station at the Oza Oil Field for injection into the TNP. The first crude oil export cargo of 15,000 bbls to Shell was loaded on board a vessel with a bill of lading date of February 7, 2024, with sales proceeds expected in the last week of March. Decklar and Millenium are expecting another crude oil export nomination notice from Shell before the end of March 2024 for the export of another 15,000 barrels of crude oil currently held in the Bonny Export Terminal tanks.

In addition, total deliveries to date in 2024 to the Edo refinery totalled over 15,000 bbls.

Sanmi Famuyide, CEO of Decklar Resources, said, “We are very pleased to be announcing the significant milestone of the first crude oil exports from the Oza Oil Field through the TNP and Bonny Export Terminal. In addition, crude oil is still being trucked to the local refinery customer in Edo State. The restoration and continued operation and availability of the Trans Niger Pipeline connection between the Oza Oil Field and the Bonny Export Terminal and delivery and sales of crude oil to the local refinery has allowed Decklar and Millenium to deliver a steady stream of crude oil to market and to generate a continuing revenue stream. With continued revenues, the Company’s financial position will improve enabling progress with additional field development activities including re-entries and 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 coming thereafter.”