*Disclaimer Regarding Hydrocarbon Estimation
“Management Estimates” represent management’s evaluation and estimation of data based on internal evaluations and modelling and by their nature have not yet been reviewed by an independent qualified reserves evaluator or auditor in compliance with the requirements of National Instrument 51-101 – Standards of Disclosure for Oil and Gas Activities or Form 51-101F1 - Statement of Reserves Data and Other Oil and Gas Information. Readers are cautioned against relying on Management Estimates until such estimates are verified and reported in a public filing summarizing the data. Possible reserves are those additional reserves that are less certain to be recovered than probable reserves. There is a 10% probability that the quantities actually recovered will equal or exceed the sum of proved plus probable plus possible reserves. There is no certainty that any portion of resources will be discovered. If discovered, there is no certainty that it will be commercially viable to produce any portion of the resources. The estimates of reserves and future net revenue for individual properties may not reflect the same confidence level as estimates of reserves and future net revenue for all properties, due to the effects of aggregation. References to reserves in herein are excerpted from the DeGolyer and MacNaughton reserves report entitled “Report as of December 31, 2022 on reserves and revenue of the SSJN-1 block in the Sinu-San Jacinto Basin, Colombia with interests attributable to Lewis Energy Colombia, S.A.” dated December 31, 2022. For more information, please review the Company’s filing statement dated August 14, 2023 available on www.sedar.com.