Calima Energy Limited confirmed Pisces #8 and #9 are equipped and tied-in. The wells were flowing to testers since late last week, with initial production rates meeting expectations. Production from the two wells at the end of the test was 500 boe/d. The Company drilled and placed on production a total of 9 Pisces wells in 2022 and 2023.

The Pisces program has performed above expectations adding impactfully to corporate production levels and future reserve bookings. The Company sold its interest in its subsidiary H2Sweet to its partner as part of a focus on lowering overhead costs. As part of the deal the partner will continue to supply gas sweetening chemicals utilized at the 2-29 battery to the Company at a fixed price until the end of 2029.

This sale will have no impact on the operating and maintenance costs of the H2Sweet plant at the 2-29 facilities. Brooks & Thorsby produced over 1.4 million boe in 2022. Current output is 4,700 boe/d (65% oil), more than doubled in 18 months.

Brooks production averaged 2,750 boe/d for Fourth Quarter 2023. 108 net sections, 69,000 net acres in total, with year-round access and >70 wells drilled to date. Owned and operated infrastructure; large development capacity with 140 net locations identified.

Thorsby production averaged 1,390 boe/d for Fourth Quarter 2023. 98 net sections on 62,800 net acres total. 86 net Sparky; 12 net Nisku inventory identified with multiple pools to be delineated.