Mr. Sean Guest reports

VALEURA ENERGY INC. ANNOUNCES PRECAUTIONARY SUSPENSION OF WASSANA PRODUCTION

Valeura Energy Inc. has suspended production at its 100-per-cent-owned Wassana field, offshore Gulf of Thailand.

During a scheduled underwater inspection of the field's production facility, the mobile offshore production unit Ingenium (MOPU), a crack was identified within one of the MOPU's steel jack-up legs. The company believes such an anomaly may potentially pose a risk to the structural integrity of the MOPU.

Out of the abundance of caution, and in keeping with its strict standards for safety, the company has chosen to suspend production operations at the Wassana field while further inspection and analysis is conducted.

Valeura stresses that there has been no incident in relation to this development, and hence no adverse impact to people or the environment.

Valeura is working with a team of internal and external experts to define the optimal course of action and will provide an update in due course, including by way of a Q2 2024 operations update, which it intends to announce within the second week of July, 2024.

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 Turkiye. 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.

We seek Safe Harbor.