Bonterra Energy Corp. reiterated operating guidance for the year 2021 and provided operating guidance for the year 2022. The Company reiterate its previous 2021 average annual production guidance range of 12,800 to 13,200 BOE per day, supported by average production of approximately 14,000 BOE per day in October 2021. The company plans to announce the Board approved 2022 guidance before the end of December 2021. The 2022 preliminary budget estimates production will be in excess of the Company's 2021 average annual guidance range. Assuming this level of production and current forward strip pricing, Bonterra anticipates a meaningful deleveraging of the balance sheet which would result in an improved debt to cash flow ratio between 1.0x and 1.5x by the end of 2022.