Mr. Geir Liland reports

ORONOVA ENERGY INC. ANNOUNCES EFFECTIVE DATE OF SHARE CONSOLIDATION

The previously announced consolidation of Oronova Energy Inc.'s outstanding common shares on the basis of one new common share for every 10 outstanding common shares will become effective at market open on March 12, 2025. Following the consolidation, the company will have approximately 4,380,283 common shares issued and outstanding. The company's name and trading symbol will remain unchanged after the consolidation. The new Cusip number will be 687156208 and the new international securities identification number will be CA6871562089 for the postconsolidation shares.

The exercise or conversion price, and the number of shares issuable under any of the company's outstanding convertible securities, will be proportionately adjusted upon the effectiveness of the consolidation. Registered shareholders as of the effective date who hold shares represented by a physical certificate or direct registration advice will receive a letter of transmittal from the transfer agent for the company, Odyssey Trust Company, with instructions on how to exchange their existing certificates or DRS advices for certificates or DRS advices representing postconsolidation shares. Beneficial shareholders holding their shares through an intermediary, such as a brokerage firm, bank, dealer or similar organization, should note that such intermediary might have different procedures for processing the consolidation than the procedures for registered shareholders. Beneficial shareholders who have any questions in this regard are encouraged to contact their intermediary.

The consolidation is subject to final approval from the TSX Venture Exchange.

We seek Safe Harbor.