Mr. Leonard Van Betuw reports

AVILA ANNOUNCES CFO REPLACEMENT

Jennifer Ottosen, CPA, has resigned as chief financial officer of Avila Energy Corp. The reason for her resignation is due to unexpected health (personal) reasons, which she advised will require rest before surgery as well as a substantial recovery period thereafter, all of which would have rendered her incapable of performing her duties at Avila. The company thanks her for her contribution to the management team and wishes her a speedy return to health.

The company also announces the interim appointment of Lars Glimhagen (former CFO) as the CFO in the interim while the company completes a search for a replacement.

"In the interim Lars, who is familiar to its shareholders and its alignment with its vision, has accepted the appointment by the board of directors. This interim decision provides the company the ability to and necessary time to complete searches and conduct interviews for a CFO replacement with Nasdaq experience, in accordance with, and while it completes, the business combination as announced on April 3, 2023, with Insight Acquisition Corp.," said Leonard B. Van Betuw, president and chief executive officer.

About Avila Energy Corp.

The company is an emerging Canadian Securities Exchange-listed corporation trading under the symbol VIK, and, in combination with an expanding portfolio of 100-per-cent-owned-and-operated oil and natural gas production, pipelines and facilities, is a licensed producer, explorer and developer of energy in Canada. The company, through the implementation of a closed system of carbon capture and sequestration and an established path under way toward the material reduction of Tier 1, Tier 2 and Tier 3 emissions, continues to work toward becoming a vertically integrated, low-cost, carbon-neutral energy producer. The company continues to grow and achieve its results by focusing on the application of a combination of proven geological, geophysical, engineering and production techniques.

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