CALGARY - Parex Resources Inc. ('Parex' or the 'Company') (TSX: PXT) is pleased to announce that on May 14, 2020 it held its annual general and special meeting of shareholders (the 'Meeting') and all matters presented for approval have been fully authorized and approved.

At the Meeting, shareholders approved the election of nine nominees as directors of Parex to serve until the next annual meeting of shareholders or until their successors are elected or appointed.

In addition, a non-binding advisory resolution concerning the Company's approach to executive compensation was approved.

Full voting results on all matters considered at the Meeting are available on our profile on SEDAR, located at www.sedar.com.

Contact:

Michael Kruchten

Tel: (403) 517-1733

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