Mr. Wade Felesky reports

NEW STRATUS ENERGY ANNOUNCES VENEZUELA AND COLOMBIA UPDATES

New Stratus Energy Inc. has provided an update on the progress of its activities in Colombia as well as Venezuela, where it is focused on securing oil and gas properties under the renewed Venezuelan hydrocarbons legal regime and the evolving licensing and authorizations for oil and gas projects by the Office of Foreign Assets Control of the Department of the Treasury of the United States (OFAC).

For several years now the corporation has been identifying and assessing oil and gas assets in Venezuela, including the 2024 acquisition of working interests in several fields, which were relinquished due to a combination of non-compliance with contractual obligations by state-owned entity counterparties and the tightening of international sanctions on the Venezuelan oil and gas sector.

The recent interim government of Venezuela, together with U.S. authorities, has opened the oil and gas sector in Venezuela and has been awarding contracts and other rights based on the new 2026 Hydrocarbons Law, which allows fully private holding of oil and gas rights in the country. Since January, 2026, the corporation has used its knowledge and experience in the Venezuelan oil and gas sector to identify first-class assets and to partner with entities benefiting from the updated U.S. sanctions regime, in order to apply for and secure such assets. The corporation has, among other items:

• Incorporated in the United States a fully owned subsidiary called New Stratus Energy U.S. LLC, a U.S. entity with an operating subsidiary in Venezuela, and registered with the Center for Productive International Investments (Centro de Internacional de Inversons Productiva, or CIIP);
• Entered into memorandums of understanding with potential partners that have been cleared in principle by the United States and/or the government of Venezuela for being awarded oil and gas rights and have in place exclusivity and non-disclosure agreements to evaluate certain oil and gas assets vetted by the corporation and negotiate terms for such awards; the corporation is actively conducting technical due diligence and project assessment after receiving access to the respective data packages from the relevant state-owned entities; as part of this process, the New Stratus Energy team has visited the field facilities to complete the analysis prior to the negotiations of contractual terms with Petroleos de Venezuela SA (the Venezuelan National Oil Company) and its affiliates;
• Continued to actively seek available oil and gas assets in the country as well as to partner with entities positioned for the acquisition of such assets; with its vast experience in Venezuela and a technical team with extensive knowledge of the industry and operating in-country, New Stratus Energy is uniquely positioned to take advantage of the new policy of awarding oil and gas rights in Venezuela and expects its currently identified projects to be awarded in the coming months.

In Colombia, as has been previously disclosed on July 14, 2026, New Stratus Energy has entered into a joint venture agreement with a local operator, approved by the Agencia Nacional de Hidrocarburos in Colombia, to jointly operate existing oil and gas production blocks in Colombia.

After several months of negotiation, the definitive agreement was expected to be executed by the end of June, 2026. However, with the change in government in Colombia, following the run-off election on June 21, 2026, the definitive agreement is now expected to be signed after the official transition, which happened on Aug. 7, 2026, and the new officers are in place. The corporation has been assured that the signing of the contract will happen imminently.

Additional oil and natural gas operated production blocks are also being evaluated in Colombia as the new administration provides a more robust environment for hydrocarbon exploration and production projects.

We seek Safe Harbor.