Mr. Craig Steinke reports

BLUENERGIES ANNOUNCES FINANCIAL ADVISORY AGREEMENTS WITH HAYWOOD SECURITIES INC. AND CANACCORD GENUITY CORP.

Bluenergies Ltd. has entered into new strategic advisory service agreements with each of Haywood Securities Inc. and Canaccord Genuity Corp., together the co-advisers, pursuant to which the co-advisers will provide the company with certain strategic advisory services. Haywood is a full-service investment dealer with assets under management of $21-billion. Canaccord Genuity is a global independent financial service company with $145-billion in client assets.

Pursuant to the terms of the advisory agreements and subject to the acceptance of the TSX Venture Exchange, the company has agreed to issue after 30 days, subject to receipt and verification of documentation evidencing completed services under the advisory agreements, to each of the co-advisers, 125,000 common shares of the company, at a deemed issue price of $2.43 per initial advisory share, and 125,000 common share purchase warrants of the company. Each initial advisory warrant shall entitle the co-advisers to acquire one common share of the company. The initial advisory warrants shall have an exercise price of $2.43 for a period of 24 months from the date of the advisory agreements.

The advisory agreements have initial terms of three months from the date of signing of the respective advisory agreements and may be extended by a further three months at the mutual agreement of the company and the co-advisers, at which time the company shall issue to each of the co-advisers an additional 125,000 common shares of the company, at a deemed issue price equal to the closing price of the company's common shares on the exchange on the date immediately prior to the issuance of the additional advisory shares and an additional 125,000 common share purchase warrants of the company. Each additional advisory warrant shall entitle the co-advisers to acquire one common share of the company. The additional advisory warrants shall have an exercise price equal to the closing price of the company's common shares on the exchange on the date of issuance of the additional advisory warrants for a period of 24 months from the date of the advisory agreements.

If either advisory agreement is not extended beyond the initial term, then the additional advisory warrants and the additional advisory shares will not be issued to Haywood and/or Canaccord, as applicable.

The initial advisory shares, the additional advisory shares, the initial advisory warrant shares and the additional advisory warrant shares will have a hold period of four months and one day from the date of issuance in accordance with applicable securities laws.

In addition, under the advisory agreements, the company will pay each co-adviser a monthly consulting fee of $20,000, plus applicable taxes, payable each three-month period following the date of the advisory agreements in arrears, and the consulting fee will be settled through the issuance of common shares of the company at a deemed issue price per consulting fee share equal to the closing price of the common shares of the company on the exchange on the date immediately prior to the issuance of the consulting fee shares, subject to the acceptance of the exchange. The consulting fee shares will have a hold period of four months and one day from the date of issuance in accordance with applicable securities laws.

About Bluenergies Ltd.

Bluenergies is a Canadian-based oil and gas exploration and development company focused on offshore West Africa. The company has recently partnered with TotalEnergies to explore its basin floor fan play in blocks LB-26, LB-30 and LB-31 covering an area of approximately 8,924 square kilometres (approximately 2.2 million acres) located in the Harper basin, in the deepwater offshore Liberia. Additionally, the company recently acquired a previously discovered and tested sand channel play offshore Louisiana in the shallow water Gulf of America.

We seek Safe Harbor.