Mr. Greg Kaiser reports

URIEL GAS HOLDINGS CORP. FILES JUNE 30, 2023 OIL AND GAS RESERVES DISCLOSURE

Uriel Gas Holdings Corp. has filed its National Instrument 51-101 oil and gas reserves disclosure, which is available on SEDAR+.

In summary (all numbers are gross):

• Proven developed producing reserves: 127,000 barrels of oil equivalent; before-tax net present value discounted at 10 per cent of $1.4-million;
• Total proven reserves: 925 Mboe; before-tax NPV discounted at 10 per cent of $14-million;
• Proven plus probable reserves: 2,413 Mboe; before-tax NPV discounted at 10 per cent of $26-million.

No value has been assigned to helium present in the sweet natural gas field at Greater Grande Prairie (GGP). This will be included in future reserves reports as the company's development plans continue on this front.

About Uriel Gas Holdings Corp.

Uriel is a growth-oriented oil and gas company focused on exploration, development and production of crude oil and natural gas assets in the Western Canadian sedimentary basin. With a 100-per-cent-operated working interest in the Richdale property, which covers approximately 5,867 acres and is located approximately 100 miles northeast of Calgary, Alta., Uriel seeks to acquire and optimize recoveries from underdeveloped hydrocarbon pools that offer compelling economics. Uriel is committed to providing superior long-term financial returns for shareholders while operating in a manner that protects the safety of workers, communities and the environment. Uriel's common shares are listed for trading on the Canadian Securities Exchange under the ticker UGH.

We seek Safe Harbor.