Mr. Peter Wilson reports

SPARK ENERGY PROVIDES THIRD DEFAULT STATUS UPDATE

Spark Energy Minerals Inc. has provided its third biweekly default status report under National Policy 12-203 (Management Cease Trade Orders), pursuant to which Spark Energy issued its original default announcement indicating that the filing of its annual audited financial statements, annual management's discussion and analysis, and related certifications for the year ended July 31, 2023, would be delayed beyond the filing deadline of Nov. 28, 2023. Spark Energy reports that since its news releases dated Nov. 23, 2023, Dec. 1, 2023, Dec. 14, 2023, and Dec. 27, 2023, there have been no material changes to the information contained therein that has not been disclosed, nor any failure by Spark Energy to fulfill its intentions as stated therein, other than as set forth below.

As a result of circumstances reasonably linked to the company's delay in filing the required disclosure, in addition to the default to which this default status report relates, the company did not meet the deadline for filing its interim unaudited financial statements, interim management's discussion and analysis, and related certifications for the three-month period ended Oct. 31, 2023. As a result of the company's delay in preparing the required disclosure, the interim filings could not be properly completed in accordance with Canadian securities law and regulation. Under the securities laws of the provinces in which Spark Energy is a reporting issuer, the interim filings were to be filed by Dec. 30, 2023.

The company's board of directors and management confirm that the audit is continuing and that they are working expeditiously to meet the company's obligations related to the filing of the required disclosure and the interim filings. However, as a result of continuing work with respect to the audit, the company now expects to be in a position to file the required disclosure by Jan. 12, 2024, and the interim filings by Jan. 17, 2024.

Until the required disclosure and the interim filings have been filed, the company intends to continue to satisfy the provisions of the alternative information guidelines specified in NP 12-203 by issuing biweekly default status reports in the form of further press releases for so long as the company remains in default of the financial statement filing requirement. In the event that the company does not file the required disclosure and the interim filings in a timely manner, the Canadian securities regulatory authorities may impose an issuer cease trade order on the outstanding securities of the company.

We seek Safe Harbor.