Mr. Lyle Whitmarsh reports

STAMPEDE DRILLING ANNOUNCES GRANTING OF STOCK OPTIONS

Stampede Drilling Inc. has granted an aggregate of 1.97 million stock options to purchase common shares of the company to officers, employees and the newly elected directors of the company.

The options were granted on May 16, 2023, and have a term of five years from the date of grant, with one-quarter of the options vesting on the day of the grant and one-quarter subsequently vesting on each of the first, second and third anniversaries of the date of grant. The options may be exercised at a price of 32 cents per common share.

Stampede has chosen to issue the options at an exercise price of 32 cents per common share (which is equal to the price per common share Stampede received for its last public financing in August, 2022), even though the closing price today on the TSX Venture Exchange was 24 cents per common share. This was done in order to align the exercise price of the options with the company's commitment to preserving shareholder value.

The options were granted pursuant to the amended and restated stock option plan of the company, as recently approved by the shareholders of the company on May 16, 2023.