Mr. Michael Rose reports

TOURMALINE ANNOUNCES CLOSING OF BONAVISTA ACQUISITION

Tourmaline Oil Corp. has closed its previously announced acquisition of Bonavista Energy Corp. for $1.45-billion, consisting of $725-million in Tourmaline common shares and $725-million of cash, less Bonavista's net debt. The company expects exit 2023 production of over 600,000 boepd (barrels of oil equivalent per day), including the acquired Bonavista volumes.

About Tourmaline Oil Corp.

Tourmaline is Canada's largest and most-active natural gas producer, dedicated to producing the lowest-emission and lowest-cost natural gas in North America. The company is an investment-grade exploration and production company providing strong and predictable operating and financial performance through the development of its three core areas in the Western Canadian sedimentary basin. With its existing large reserve base, decades-long drilling inventory, relentless focus on execution and cost management, and industry-leading environmental performance, Tourmaline is excited to provide shareholders an excellent return on capital, and an attractive source of income through its base dividend and surplus free cash flow distribution strategies.

We seek Safe Harbor.