Mr. Sean Guest reports

VALEURA ENERGY INC. ANNOUNCES APPROVAL OF STRATEGIC FARM-IN AGREEMENT WITH PTTEP

The cabinet of the government of Thailand has granted executive approval for the transfer of interest from PTTEP Energy Development Company Ltd., a subsidiary of PTT Exploration and Production Public Company Ltd., to Valeura Energy Inc., in connection with its strategic farm-in agreement to blocks G1/65 and G3/65 in the offshore Gulf of Thailand.

Under the terms of the farm-in, Valeura is to earn a 40-per-cent undivided working interest in the blocks by paying to PTTEP 40 per cent of the back costs incurred, plus the cost of a 163-square-kilometre 3-D seismic acquisition over the Nong Yao northeast focus area (carried by Valeura). Total costs to be paid by Valeura were estimated as $25.6-million (U.S.) at Aug. 31, 2026. This includes a deposit amount of $1.85-million (U.S.) already paid, and includes $2.8-million (U.S.) in respect of the aforementioned carried 3-D seismic acquisition in addition to its share of back costs for 1,184 square kilometres of 3-D seismic acquired over other focus areas on the blocks, four exploration wells drilled in 2025, geotechnical studies, licence award fees and development planning work.

As contemplated in the farm-in, Valeura and PTTEP are continuing to share information with each other to support planning the next phases of development and exploration on the blocks. The company intends to provide further details in due course.

About Valeura Energy Inc.

Valeura 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.

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