Mr. Garth Johnson reports

PULSE OIL ANNOUNCES OPERATIONAL RESULTS AND IMMINENT START OF DRILLING

Pulse Oil Corp. has completed Pulse's first operation since the close of its rights offering.

Workover update

The company is pleased to announce that the workover and stimulation of Pulse's 100-per-cent-owned 5-09 well, located in Pulse's Bigoray Nisku E pool has resulted in new oil and gas production. The well has been producing for 14 days and, as of the date of this news release, the well is producing approximately 200 barrels of oil per day (bopd) plus a small amount of natural gas. Pulse is happy with these results and will continue to advance its 2024 work program that its recently completed rights offering has allowed the company to do.

Drilling update

Pulse is also happy to announce that drilling within Pulse's 100-per-cent-owned Bigoray Nisku D pool is anticipated to begin on Feb. 19, 2024. Pulse intends to drill the well to a total depth of 2,686 metres over an anticipated timeline of 12 days.

The well is being drilled to accomplish a number of goals.

1. Grow near-term production and cash flow upon completion of drilling;
2. Increase the efficiency of Pulse's EOR (enhanced oil recovery) program by adding an ideally located production well in which to produce from;
3. Materially increase production rates and ultimate reserve recovery from the EOR program within the Nisku D pool.

Garth Johnson, Pulse Oil's chief executive officer, commented: "We are really happy with the workover results and we expect this new oil and gas production to payback the roughly $575,000 in capital costs invested in approximately 45 days, which is quicker than we anticipated when planning the program. The purpose of our recent financing and the resultant operational plan for 2024 is to increase near-term production, cash flow and reserves that will continue to fund our Bigoray enhanced oil recovery project that we feel will materially increase ultimate reserve recovery at Bigoray, while also enhancing the efficiency of increased production rates that we expect from the EOR. We anticipate the drilling of our new well, that should spud in the next few days, will continue to achieve our goals."

About Pulse Oil Corp.

Pulse is a Canadian company incorporated under the Business Corporations Act (Alberta) that is primarily focused on a 100-per-cent working interest enhanced oil project, located in west-central Alberta, Canada. The project includes two established Nisku pinnacle reef reservoirs that have been producing sweet light crude oil for over 40 years.

The company plans to institute a proven recovery methodology (NGL (natural gas liquid) solvent injection) to further enhance the ultimate oil recovery from these two proven pools. With under 10 million barrels of oil recovered to date and representing approximately 30-per-cent recovery factor from the pools, Pulse is moving forward to execute the EOR (enhanced oil recovery) project and unlock significant value for shareholders. Pulse's total reclamation liabilities are just $2.7-million, which, when compared with many peers in the industry in Western Canada, are very low.

We seek Safe Harbor.