Barrel Oil Corp. (“Barrel” or the “Company”) has engaged Sayer Energy Advisors to assist it with the sale of its oil and natural gas interests located in the Cynthia, Killam and Riviere areas of Alberta (the “Properties”).

Current daily sales production net to Barrel from the Properties is approximately 181 boe/d, consisting of 119 bbl/d of oil and natural gas liquids and 368 Mcf/d of natural gas.

Operating income net to Barrel from the Properties for the year ended December 31, 2026 is forecasted to be approximately $65,000 per month, or $777,000 on an annualized basis.

As of February 1, 2026, the Properties had a deemed liability value of $6.1 million.

At Cynthia, Barrel holds various working interests in 2.5 sections of land. Production from Cynthia is from the Viking and Rock Creek formations.

At Killam, Barrel holds primarily a 100% working interest in 3.75 sections of land. Production from Killam is from the Sparky Formation.

At Riviere, Barrel holds primarily a 100% working interest in 16.25 sections of land. Production from Riviere is from the Wabamun, Colony and Ellerslie formations.

Deloitte LLP (“Deloitte”) prepared an independent reserves evaluation of the Property (the “Deloitte Report”). The Deloitte Report is effective December 31, 2025 using an average of Deloitte, GLJ Ltd., McDaniel & Associates Consultants Ltd., and Sproule ERCE’s forecast pricing as at January 1, 2026. Deloitte estimated that, as at December 31, 2025, the Properties contained remaining proved plus probable reserves of 1.0 million barrels of oil and natural gas liquids and 1.6 Bcf of natural gas (1.3 million boe), with an estimated net present value of $12.8 million using forecast pricing at a 10% discount.

Summary information relating to this divestiture and a package of more detailed confidential information will be sent to any party executing a Confidentiality Agreement. More specific information is available at www.sayeradvisors.com. 

Cash offers relating to this process will be accepted until 12:00 pm on Thursday, April 16, 2026.

For further information please feel free to contact: Ben Rye, Sydney Birkett, or Tom Pavic at 403.266.6133.