Valeura Energy Inc.

Q1 2024 Operations and Financial Update - Seite 3

Results Timing and AGM

Valeura intends to release its full unaudited financial and operating results for Q1 2024 on May 9, 2024, and will discuss the results in more detail through a management webcast hosted in conjunction with its Annual and Special Meeting of Shareholders (the "meeting") later that day. The notice of meeting and related Management's Information Circular have been mailed to shareholders and are available on the Company's website and on www.sedarplus.ca.

For further information, please contact:

Valeura Energy Inc. (General Corporate Enquiries)                       [phone]
Sean Guest, President and CEO
Yacine Ben-Meriem, CFO
[e-mail]

Valeura Energy Inc. (Investor Enquiries)                             [phone] / [phone]
Robin James Martin, Vice President, Communications and Investor Relations
[e-mail]

CAMARCO (Public Relations, Media Adviser to Valeura)  [phone]
Owen Roberts, Billy Clegg
[e-mail]

Contact details for the Company's advisors, covering research analysts, and joint brokers, including Auctus Advisors LLP, Cormark Securities Inc., Research Capital Corporation, Schachter Energy Report, and Stifel Nicolaus Europe Limited, are listed on the Company's website at www.valeuraenergy.com/investor-information/analysts/.

About the Company

Valeura Energy Inc. is a Canadian public company engaged in the exploration, development and production of petroleum and natural gas in Thailand and in Türkiye. The Company is pursuing a growth-oriented strategy and intends to re-invest into its producing asset portfolio and to deploy resources toward further organic and inorganic growth in Southeast Asia. Valeura aspires toward value accretive growth for stakeholders while adhering to high standards of environmental, social and governance responsibility.

Additional information relating to Valeura is also available on SEDAR+ at www.sedarplus.ca.

Advisory and Caution Regarding Forward-Looking Information

Certain information included in this news release constitutes forward-looking information under applicable securities legislation. Such forward-looking information is for the purpose of explaining management's current expectations and plans relating to the future. Readers are cautioned that reliance on such information may not be appropriate for other purposes, such as making investment decisions. Forward-looking information typically contains statements with words such as "anticipate", "believe", "expect", "plan", "intend", "estimate", "propose", "project", "target" or similar words suggesting future outcomes or statements regarding an outlook. Forward-looking information in this news release includes, but is not limited to: the Company's reiteration of its guidance outlook for 2024 (including anticipated 2024 oil production rates, Price realisations, Opex, Capex, and Exploration Expense); the Company being in a strong position at the close of Q1 2024, and its ability to translate that strength into value growth; the Company's expectation that its increased inventory will be sold in Q2 2024; the Company's intent to provide an update shortly in regards to its exploration drilling campaign; Valeura's intent to, later in April 2024, mobilise its sole contracted drilling rig to the Nong Yao field to commence a development drilling campaign on the Nong Yao C accumulation; the Company's target production rates from the greater Nong Yao area; and Valeura's intended timing to release financial and operating results for Q1 2024. In addition, statements related to "reserves" are deemed to be forward-looking information as they involve the implied assessment, based on certain estimates and assumptions, that the resources can be discovered and profitably produced in the future.