TENAZ ENERGY CORP. ANNOUNCES CLOSING OF NETHERLANDS ACQUISITION

/NOT FOR DISSEMINATION IN THE UNITED STATES. FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF UNITED STATES SECURITIES LAW/

CALGARY, AB, July 3, 2023 /CNW/ - Tenaz Energy Corp. ("Tenaz", "Our", "We", or the "Company") (TSX: TNZ) is pleased to announce that it has closed the previously announced acquisition of 100% of the shares (the "Acquisition") of XTO Netherlands Ltd. from XH LLC, a wholly owned subsidiary of ExxonMobil Corporation. For further information on the Acquisition, please see our news release dated June 26, 2023, or go to our website at www.tenazenergy.com.

About Tenaz Energy Corp.

Tenaz is an energy company focused on the acquisition and sustainable development of international oil and gas assets capable of returning free cash flow to shareholders. Tenaz has domestic operations in Canada along with offshore natural gas assets in the Netherlands. The domestic operations consist of a semi-conventional oil project in the Rex member of the Upper Mannville group at Leduc-Woodbend in central Alberta. The Netherlands natural gas assets are located in the Dutch sector of the North Sea.

For further information on Tenaz, please go to the Tenaz website at www.tenazenergy.com. Further information on NGT can be found at https://noordgastransport.nl.

SOURCE Tenaz Energy Corp.

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