Altura Energy Inc. announced an operational update. The 102/16-14-049-26W4 Rex horizontal well ("16-14") that was completed in February 2021 continues with strong production performance exceeding management's expectations. The 16-14 well was completed with 74 fracs which is a 35% increase in fracs compared to earlier wells with 55 fracs. This innovative completion design is an exciting optimization that is proving to be a game changing advancement for future wells at Leduc-Woodbend. Altura is planning to drill one well mid-July and a second well in September at Leduc-Woodbend. Altura will continue to improve upon its extended reach horizontal well design by increasing the lateral length in the first well from 2,000 to 2,300 meters (a 15% increase). This extension will again increase the total number of fracs for the well from 74 to 85. The wells are scheduled to commence production in August and October 2021, respectively. Previous success with longer horizontal laterals and increased frac stages in the Rex pool illustrates improved production rates and reserve capture. The optimization of longer lateral length is expected to result in even greater well performance and reduce the number of required wells and capital required to develop the remainder of the Rex pool.