G2 Energy Corp. announced that oil and gas production continues to stay at a stable baseline at Masten Unit, acquired by G2 Energy TX1 Inc. on June 1, 2023, located in the Permian Basin in Levelland Texas. Despite the shorter month, production was higher than in the previous months.

The production stabilization is a direct result of the Production Enhancement Plan (PEP) as executed by G2's ground team, Oilwell Operators Inc. (OOI). The production (OIL & GAS) for the Masten Unit in the month of February was as follows: OIL - 2188 barrels, GAS - 4,264 MCF or 2,899 BOE. Estimated gross revenue for oil sold to Phillips 66®?

in February is expected to be as follows: 2184 barrels for gross revenue of USD 159,882 and G2's net revenue of USD 121,249. Oilwell Operators Inc. has conducted tests of the tubing on two wells, potential candidates for workovers, included in the PEP. The expected increase in production has not been estimated yet.

As mentioned in the news releases dated January 24, and February 13, 2024, the planned workovers will be conducted by the end of March and early April. The expected increase in production is estimated to be between 7 and 15 BOPD which represents an additional 10-20% increase in production.