Mr. Brian Paes-Braga reports

NG ENERGY ANNOUNCES ADDITIONAL LONG TERM NATURAL GAS SALES CONTRACTS

NG Energy International Corp., further to the company's press release dated Dec. 4, 2023, has signed additional long-term agreements for natural gas sales from the Maria Conchita block, expanding on its previous commitments with Vanti SA ESP, Gases del Caribe SA ESP and Gases del Occidente SA ESP, and entering into additional commitments with GEAM Grupo Energetico de las Americas SAS ESP and Empresas Publicas de Medellin ESP.

With these agreements in place, the company has now sold approximately 14.8 MMcf/d (million cubic feet per day) of production under long-term natural gas sales contracts for a period of three to five years, with the balance of production from the Maria Conchita block being sold into the spot market on an interruptible basis. Pricing in the Caribbean coast, specifically in the Ballena section, for the month of March was $8.87 (U.S.) per MMBtu (million British thermal units). Price for the region is up 36.5 per cent from the same time last year, due to the overall economic growth of the region, the demand for natural gas outpacing the supply during this time of El Nino and the unique characteristics of natural gas as a critical energy source for Colombia.

Brian Paes-Braga, chief executive officer of NG Energy, commented: "We are experiencing continued unprecedented demand for our natural gas throughout the ramp-up of production at Maria Conchita, and are proud to be a critical and reliable solution in this environment for our highly valued customers. Given the continued demand for natural gas in Colombia as a critical transition fuel, rescoping of Maria Conchita, after three DSTs tested a combined 65 MMcf/d across three zones last year at Aruchara-3, continues to be a top priority, as we endeavour to bring additional and much-needed energy to the Caribbean region of Colombia."

About NG Energy International Corp.

NG Energy is a natural gas exploration and production company with operations in Colombia. The company is on a mission to discover, delineate and develop meaningful natural gas fields in developing counties to support energy transition and economic growth. In Colombia, the company is executing on this mission with a rapidly growing production base that is being delivered to the premium-priced Colombian market. NG Energy's team has extensive technical expertise and a proven record of building companies and creating value in South America.

We seek Safe Harbor.