Mr. Anthony Marino reports

TENAZ ENERGY CORP. ANNOUNCES 2023 ANNUAL MEETING RESULTS

Tenaz Energy Corp. has released the results from its annual meeting of shareholders held on June 1, 2023. A total of 9,693,440 common shares, representing approximately 35 per cent of the company's issued and outstanding common shares, were represented in person or by proxy at the meeting.

All of the matters put forward before the shareholders, as set out in the company's management information circular dated April 28, 2023, were approved by the requisite majority of votes cast at the meeting.

Election of directors

Nominees were elected as directors of the company for the ensuing year, with the specific voting results set out in the attached table.

              VOTING RESULTS FOR ELECTION OF DIRECTORS

Nominee           Votes for    % for    Votes withheld    % withheld

Anna Alderson     9,543,405   98.665%          129,154         1.335%   
John Chambers     7,911,367   81.792%        1,761,192        18.208%  
Anthony Marino    9,668,939   99.963%            3,620         0.037%   
Marty Proctor     8,320,183   86.018%        1,352,376        13.982%  
Mark Rollins      9,555,183   98.787%          117,376         1.213%   

Other matters

At the meeting, the shareholders of the company also: (i) fixed the number of directors at five for the ensuing year; and (ii) approved the appointment of KPMG LLP, chartered professional accountants, as the company's auditor and authorized the directors to fix its remuneration.

About Tenaz Energy Corp.

Tenaz is an energy company focused on the acquisition and sustainable development of international oil and gas assets capable of returning free cash flow to shareholders. Tenaz has domestic operations in Canada along with offshore natural gas assets in the Netherlands. The domestic operations consist of a semi-conventional oil project in the Rex member of the Upper Mannville group at Leduc-Woodbend in central Alberta. The Netherlands natural gas assets are located in the Dutch sector of the North Sea. Tenaz's common shares are listed for trading on the Toronto Stock Exchange under the symbol TNZ.