Mr. Sean Guest reports

VALEURA ENERGY INC. ANNOUNCES PRECAUTIONARY SUSPENSION OF WASSANA PRODUCTION

Valeura Energy Inc. has temporarily suspended production operations at the Wassana oil field, offshore Gulf of Thailand.

On July 6, 2023, the floating storage and offloading vessel (FSO) stationed at the Wassana oil field deviated from its intended position and contacted the field's catenary anchor leg mooring (CALM) buoy. No personnel were injured in the event, no hydrocarbons were discharged, and there was no damage to the vessel or the CALM buoy.

As a precautionary measure, Valeura has opted to temporarily suspend production operations at the field, which had been producing approximately 2,400 barrels of oil per day at the time of the event, representing approximately 10 per cent of Valeura's aggregate net production. The company is undertaking a thorough review of safety and operating practices on the third party operated FSO before restarting the production.

Valeura adheres to high environmental, social and governance standards and holds its third party contractors to the same expectations in the work they perform for the company. Additional details will be provided in due course.

About Valeura Energy Inc.

Valeura Energy is a Canadian public company engaged in the exploration, development and production of petroleum and natural gas in Thailand and in Turkey. The company is pursuing a growth-oriented strategy and intends to reinvest into its producing asset portfolio and to deploy resources toward further organic and inorganic growth in Southeast Asia. Valeura aspires toward value accretive growth for stakeholders while adhering to high environmental, social and governance standards.

We seek Safe Harbor.