Ann: Trading Halt, page-5

Corporate and New Ventures
• Following the completion of the Alberta Plains Assets divestment, the Board has been
assessing a number of high impact large resource exploration drilling opportunities with a
view of executing a drilling program in Q1 2024;
• Additional long-term value accretive opportunities both in oil and gas have been identified
domestically as middle east tensions, lack of new supply, increasing demand, and
withdrawal of inventories continue to create a perfect storm of high oil prices and high
netback LNG prices globally;
• Sacgasco is currently undertaking a review of all its assets to better streamline cash flow
and corporate overheads; and
• The review includes implementing a strategy of majority operatorship of all its assets and
drilling high risk high reward exploration prospects complemented with cash flow to
manage corporate overheads.