Mr. Leonard Van Betuw reports

AVILA ENERGY CORPORATION IS PLEASED TO ANNOUNCE THE PUBLISHING OF ITS INAUGURAL ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT FOR 2023

Avila Energy Corp. has published its inaugural environmental, social and governance report for 2023.

The report can be found on the company's website.

Highlights

Avila Energy, since the past announcement of its vertically integrated energy business, was made on Nov. 14, 2022, the company has remained committed to its long-term vision for the delivery of a diversified choice of environmentally and socially responsible energy in North America with a formula to become a best-in-class alternative energy provider in Canada and the United States prior to offering its integrated solution worldwide.

To achieve its goal of becoming a carbon-neutral energy business, Avila Energy and its team continued in 2023 to refine the company's engineering and budgets for the harnessing of two complementary proven technologies, which the company has been focused on for more than 10 years, to the company's upstream production, which is forecasted to average more than 1,000 barrels of oil equivalent per day in 2024.

In 2024, the company is also working toward the finalization of engineering and the approval for the commencement of construction of a power-generating facility that is part of its mid-stream business unit and is expected to be approximately 10 megawatts and, if approved, up to 30 megawatts. The facility is being designed to include carbon capture, processing and sequestration of carbon dioxide emissions locally within a closed system.

Downstream, Avila's first series of installations of its integrated energy solutions utilizing a combined-cycle microturbine technology (CHP) are in the final stages of negotiation and are planned to be installed in 2024 as a sustainable fully integrated off-grid energy solution and services sold directly to consumers, delivering, affordable electricity, heating, cooling and EV (electric vehicle) charging at home.

"Avila Energy Corp.'s focus is to sustainably deliver energy and to materially grow its business first in Western Canada and the United States as a carbon-neutral energy provider. Long term, Avila is focused on the delivery of an affordable energy solution that is attractively priced and accessible to consumers in all regions of the world," said Leonard B. Van Betuw, president and chief executive officer of Avila.

Avila Energy's carbon-neutral power generation and its direct-to-consumer business are expected to be launched as Avila IES (Avila's integrated energy solution), which positions Avila with an established foundation for sustainable growth starting in the second half of 2024 as a viable energy provider without boundaries that is formulated to become a best-in-class alternative energy solution for consumers now and beyond 2035.

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's long-term vision is to achieve, through the implementation of a closed system of carbon capture and sequestration, an established path toward the material reduction of Tier 1, Tier 2 and Tier 3 emissions and continues to work toward becoming a vertically integrated carbon-neutral energy producer. The company's goals are to be achieved by focusing on the application of proven geological, geophysical, engineering and production techniques in combination with the delivery of direct-to-consumer energy sales to both residential and commercial consumers.

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