CORRECTION FROM SOURCE: Valeura Energy Inc. Announces Q1 2024 Operations and Financial Update - Seite 3

Opex⁽¹⁾

US$205 - 235 million

Capex⁽²⁾

US$135 - 155 million

Exploration Expense

Approximately US$8 million

(1) Represents Adjusted Opex, a Non-IFRS financial measure. For details refer to the "Non-IFRS Financial Measures and Ratios" section with the Company's Management's Discussion and Analysis for the year ended December 31, 2023, dated March 26, 2024.

(2) Represents Adjusted Capex, a Non-IFRS financial measure. For details refer to the "Non-IFRS Financial Measures and Ratios" section with the Company's Management's Discussion and Analysis for the year ended December 31, 2023, dated March 26, 2024.

Operations Update

Valeura provided an operations update on March 26, 2024, along with its announcement of results for Q4 and the full year 2023. Since that time, the Company has been conducting an exploration drilling campaign, and will provide an update shortly. Thereafter, later in April 2024, Valeura intends to mobilise its sole contracted drilling rig to the Nong Yao field to commence a development drilling campaign on the Nong Yao C accumulation targeting production rates from the greater Nong Yao area to 11.0 mbbls/d (working interest share, before royalties).

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