Mr. Brian Schmidt reports

TAMARACK VALLEY ENERGY ANNOUNCES UNPLANNED OUTAGE IN THE NIPISI AREA

On Saturday, April 13, 2024, there was an unplanned event at a third party gas plant at Mitsue, Alta. This plant processes Tamarack Valley Energy Ltd.'s solution gas from various batteries in the Nipisi area. Due to flaring limitations set by the Alberta Energy Regulator (AER), Tamarack has temporarily shut in approximately 6,200 barrels of oil equivalent per day of production, which comprises 5,250 barrels per day of oil, 50 bbl/d of natural gas liquids and 5.7 million cubic feet per day of natural gas.

Tamarack is evaluating several alternatives that may enable the company to accelerate bringing production back on stream as the operator is currently evaluating the timeline to return the facility to operation. Tamarack will provide a status update regarding production as additional information becomes available.

About Tamarack Valley Energy Ltd.

Tamarack is an oil and gas exploration and production company committed to creating long-term value for its shareholders through sustainable free funds flow generation, financial stability and the return of capital. The company has an extensive inventory of low-risk oil development drilling locations focused primarily on Charlie Lake and Clearwater plays in Alberta while also pursuing EOR (enhanced oil recovery) upside in these core areas. Operating as a responsible corporate citizen is a key focus to ensure Tamarack delivers on its environmental, social and governance (ESG) commitments and goals.

We seek Safe Harbor.