Mr. Anthony Marino reports

TENAZ ENERGY CORP. ANNOUNCES CLOSING OF SENIOR UNSECURED NOTES OFFERING

Tenaz Energy Corp. has closed its previously announced private placement offering of $140-million aggregate principal amount of senior unsecured notes due 2029. The notes replace the $90-million delayed-draw term loan provided by National Bank of Canada to facilitate the acquisition of NAM Offshore BV. Completion of the offering provides significant liquidity to pursue its merger-and-acquisition strategy, as well as financing the closing of the NOBV acquisition. National Bank Financial Inc. served as sole bookrunner and placement agent in connection with the offering, and is acting as financial adviser to Tenaz with respect to the NOBV acquisition.

About Tenaz Energy Corp.

Tenaz is an energy company focused on the acquisition and sustainable development of international oil and gas assets. Tenaz has domestic operations in Canada along with offshore natural gas and mid-stream assets in the Netherlands. The domestic operations consist of a semi-conventional oil project in the Rex member of the Mannville group at Leduc-Woodbend in central Alberta. The Dutch natural gas assets are located in the Dutch sector of the North Sea. Tenaz's common shares are listed for trading on the Toronto Stock Exchange under the symbol TNZ.

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