Dr. Sean Guest reports

VALEURA CHARTERS THE ENTERPRISE DRILLING RIG

Valeura Energy Inc. has agreed to charter the Shelf Drilling Enterprise jack-up drilling rig for a three-year term that runs to Dec. 31, 2029. Valeura has an option on the start date and currently plans to commence drilling operations with the rig in Q4 2026, initially focused on delivering production acceleration projects.

Dr. Sean Guest, president and chief executive officer, commented: "Three consecutive years of an approximately 200-per-cent reserves replacement ratio has materially transformed our asset base. With 57.8 million barrels of proved plus probable reserves as of Dec. 31, 2025, we see more opportunity and a larger inventory of drilling targets within our core Gulf of Thailand portfolio.

"At the same time, we see a favourable pricing environment within the rig market, so we are moving decisively to capitalize on the opportunity before us by locking in the Enterprise rig for a term of three years.

"Our business remains robust, even at the relatively low commodity prices we saw in late 2025. With that position now coupled with a robust balance sheet, we intend to pursue further development, appraisal and exploration drilling across our portfolio with a program of continual drilling through the end of 2029."

The Enterprise is a premium jack-up drilling rig owned by Shelf Drilling (Southeast Asia) Ltd., a subsidiary of ADES Holding Company, which is suitable for drilling operations anywhere in the offshore Gulf of Thailand.

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 Turkey. The company is executing a growth-oriented strategy, reinvesting into its producing asset portfolio while deploying capital toward further organic and inorganic growth across Southeast Asia. Valeura is committed to delivering value-accretive growth for all stakeholders, underpinned by high standards of environmental, social and governance responsibility.

We seek Safe Harbor.