Mr. Mohammad Fazil reports

SABA ENERGY ELECTS NOT TO ACQUIRE THE LAPRISE OIL AND GAS ASSETS IN BRITISH COLUMBIA

Saba Energy Ltd. has provided an update further to the news releases issued on June 29, 2026, and July 20, 2026. It was previously announced that Saba had the right to have the gas producing assets located in northeastern British Columbia, consisting of 58 natural gas wells and related interests (the Laprise assets), transferred by Blue Sky Resources (BSR) back to Saba on an as is, where is basis for nominal consideration. Saba has elected no to have the Laprise assets transferred back from BSR.

The security deposit required by the B.C. Energy Regulator is not acceptable to Saba so the company has determined it is in its best interest no to proceed with the acquisition of the Laprise assets.

Saba has now satisfied all of the settlement conditions with the court-appointed receiver and manager of BSR.

About Saba Energy Ltd.

The company is a publicly traded entity listed on the TSX Venture Exchange under the symbol SABA, with oil and natural gas assets in Alberta.

We seek Safe Harbor.