Valeura Energy Inc. Announces Türkiye Joint Venture Agreement

CALGARY, AB / ACCESS Newswire / October 15, 2025 / Valeura Energy Inc. (TSX:VLE)(OTCQX:VLERF) ("Valeura" or the "Company") is pleased to announce that via a wholly-owned subsidiary, and together with its partner, Pinnacle Turkey, Inc. ("Pinnacle"), it has entered into an agreement with a subsidiary of Transatlantic Petroleum LLC ("Transatlantic") to explore for and develop hydrocarbons in the deep rights formations of the Thrace basin of northwest Türkiye (the "Joint Venture").

Dr. Sean Guest, President and CEO commented:

"Despite our strategic pivot toward the Asia-Pacific region, we have maintained our conviction that the deep gas play we discovered in northwest Türkiye offers significant potential to add value to the Company. Our drilling programme from 2017 to 2019 demonstrated that there are multiple Tcf of gas in place across Valeura's lands in a deep tight gas play. We drilled three wells into this play and tested 12 separate zones - every one of which flowed gas. It is my hope that with a reinvigorated push to test the play, we will see this evolve into a commercial success, especially when coupled with the higher European gas prices that exist today.

Valeura has a proven history of creating cost-efficient structures to pursue exploration ventures, and this Joint Venture is no different. Moreover, this agreement will result in near-term action in the field with re-entry and testing of new zones in our key Devepinar-1 well expected this quarter. With success in that testing operation, Transatlantic can fully earn a 50% working interest across the play by drilling and testing a new deep appraisal well.

We are pleased to be working again with Transatlantic, who, given their strong presence in Türkiye and proven unconventional operating credentials both in Türkiye and the United States, are well-placed to operate this next phase of the play to drive value generation for all stakeholders."

Thrace Deep Gas Play

Valeura has held various blocks and operated in Türkiye for almost 15 years. The Company continues to hold the deep rights (being below 2,500 metres or a pressure gradient of 0.6 psi/ft, whichever is shallower) in various exploration licences and production leases covering a total of 955 km² (gross) in the Thrace basin, located just west of Istanbul. For the majority of the acreage (those lands held under exploration licences), the current exploration phase expires on June 27, 2026, but discussions are underway with the government in relation to a two-year appraisal period extension.