Dr. Sean Guest reports

VALEURA ENERGY INC. ANNOUNCES MANORA DRILLING EXCEEDS MANAGEMENT'S EXPECTATIONS

Valeura Energy Inc. has completed a successful infill drilling campaign at its Gulf of Thailand Manora field (block G1/48, 70-per-cent operated working interest).

Dr. Sean Guest, president and chief executive officer, commented: "Our Manora drilling campaign illustrates that we can continue adding to the ultimate production potential of our Gulf of Thailand fields. Our approach is to take every opportunity to appraise potential future development locations while developing known reservoir intervals. We have once again delivered new production from the field and also laid the basis for further development in the future."

Valeura successfully drilled a campaign comprised two infill development targets and one appraisal well from the Manora A platform. All wells were successful, and, notably, the appraisal well was found to be optimally positioned for use as a production well. As a result, all three wells have been completed as oil producers and are now on stream. Manora's oil production has increased from an average of 1,950 barrels per day, prior to the first new well coming on stream, to a more recent average of 2,626 bbl/d (working-interest-share oil production before royalties).

Valeura's management expects that the newly encountered reservoir intervals will be considered in the next evaluation of reserves and could therefore be additive to the ultimate potential and economic life of the asset.

MNA-41 was drilled as a deviated appraisal well to evaluate the potential of two reservoir intervals. The well encountered oil pay in the 300-series sand reservoir, which will be analyzed to identify future prospects in this zone. In addition, the well encountered five oil pay zones in the 400/500-series reservoir. It has been completed as a commingled oil producer and is now on production. Results have exceeded management's expectations, which sought only to assess the potential for future development of these intervals.

MNA-35ST1 was drilled as a sidetrack to the pre-existing MNA-35 well, with the objective of developing the same two reservoir intervals accessed in MNA-41. Two pay zones were encountered in the 300 sands, which will be completed for production in the future. In the meantime, the well has been completed as a producer of five oil pay zones within the 400/500 reservoir sands and is now on production.

MNA-42H was geo-steered as a horizontal development well within the 300 series sand reservoir. The well's 1,046-foot lateral section encountered 556 feet of net oil pay, which has exceeded management's expectations. The well has been completed and is now on line as a horizontal oil producer.

The Manora drilling campaign was completed safely, on time and on budget. Valeura's contracted drilling rig has now been mobilized to the Nong Yao field on block G11/48 (90-per-cent operated working interest), where the company is planning to drill a production-oriented campaign from the Nong Yao A and Nong Yao B wellhead facilities.

Future disclosure

Valeura intends to release its audited financial results for the year ended Dec. 31, 2025, along with its annual information form for 2025 and its estimates of reserves and resources, in accordance with the requirements of National Instrument 51-101, Standards of Disclosure for Oil and Gas Activities, on March 18, 2026.

About Valeura Energy Inc.

Valeura Energy is a Canadian public company engaged in the exploration, development and production of petroleum and natural gas in Thailand and in Turkey. The company is pursuing a growth-oriented strategy and intends to reinvest into its producing asset portfolio and to deploy resources toward further organic and inorganic growth in Southeast Asia. Valeura aspires toward value-accretive growth for stakeholders while adhering to high standards of environmental, social and governance responsibility.

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