CALGARY - Altura Energy Inc. ('Altura' or the 'Corporation') (TSXV: ATU) announces its financial and operating results for the three and nine months ended September 30, 2020.

The unaudited interim condensed consolidated financial statements and related management's discussion and analysis ('MD&A') are available at www.sedar.com and www.alturaenergy.ca. Selected financial and operating information for the three and nine months ended September 30, 2020 appear below and should be read in conjunction with the related financial statements and MD&A.

ABOUT ALTURA ENERGY INC.

Altura is a junior oil and gas exploration, development and production company with operations in central Alberta. Altura predominantly produces from the Rex member in the Upper Mannville group and is focused on delivering per share growth and attractive shareholder returns through a combination of organic growth and strategic acquisitions.

Forward-looking Information and Statements

This press release contains certain forward-looking information and statements within the meaning of applicable securities laws. The use of any of the words 'expect', 'anticipate', 'budget', 'forecast', 'continue', 'estimate', 'objective', 'ongoing', 'may', 'will', 'project', 'should', 'believe', 'plans', 'intends', 'strategy' and similar expressions are intended to identify forward-looking information or statements. In particular, but without limiting the foregoing, this press release contains forward-looking information and statements pertaining to: uncertainty about the COVID-19 pandemic and the impact it will have on Altura's operations, the demand for Altura's products, and economic activity in general; Altura's plan to bring shut-in wells on production at Leduc-Woodbend in January 2021; plans to test the up-dip portion of the Entice pool through the recompletion of an existing vertical well in 2021; forecasted production volumes to range between 900 and 1,000 boe per day for the second half of 2020; the expected closing of two additional dispositions of a 1.375% working interest for $875,000 each on January 31, 2021 and June 30, 2021 and forecasted reduction of net debt to approximately $4.2 million by the end of the year.

Contact:

Tel: (403) 984-5197

Web: www.alturaenergy.ca

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