Mr. Richard McHardy reports

LOGAN ENERGY CORP. UPSIZES PREVIOUSLY ANNOUNCED EQUITY OFFERING TO $45 MILLION

As a result of excess demand, Logan Energy Corp. has agreed with the syndicate of underwriters led by National Bank Financial Inc. and Eight Capital, as joint bookrunners and co-lead underwriters, to increase the size of its previously announced bought deal private placement financing. Logan will now issue 61,644,000 common shares at a price of 73 cents per common share to raise aggregate gross proceeds of approximately $45-million pursuant to the equity offering. It is anticipated that certain directors, officers and employees of the company will subscribe for approximately $2.8-million of the equity offering. In all other respects, the terms of the equity offering will remain as previously disclosed in the Nov. 26, 2024, press release.

In connection with the equity offering, the company has reached a definitive agreement to acquire an operated 50-per-cent working interest in certain assets located in the company's core area at Simonette, Alta., and a 100-per-cent interest in certain Simonette gross overriding royalties, for a cash purchase price of $52-million, before closing adjustments.

The closing of the equity offering will be conditional on the completion of the acquisition and other customary closing conditions, including the receipt of all necessary regulatory approvals, including the approval of the TSX Venture Exchange. The closing of the acquisition and the closing of the equity offering are expected to occur on or around Dec. 17, 2024.

About Logan Energy Corp.

Logan is a growth-oriented exploration, development and production company formed through the spinout of the early-stage Montney assets of Spartan Delta Corp. Logan was founded with a strong initial capitalization and three high-quality and opportunity-rich Montney assets located in the Simonette and Pouce Coupe areas of northwestern Alberta and the Flatrock area of northeastern British Columbia, and has recently established a position within the greater Kaybob Duvernay oil play with assets in the North Simonette, Ante Creek and Two Creeks areas. The management team brings proven leadership and a record of generating excess returns in various business cycles.

We seek Safe Harbor.