Altura becomes 100% owner of Pinta South helium project

Mr. Robert Johnston reports ALTURA ENERGY CONSOLIDATES 100% INTEREST IN PINTA SOUTH, A SIGNIFICANT HELIUM REGION LOCATED IN THE HOLBROOK BASIN, OF NORTHEAST ARIZONA; THE COMPANY IS EXPLORING AN ARTIFICIAL LIFT PROGRAM FOR COMPLETION IN 2025, FOLLOWED BY THE DRILLING OF NEW WELLS IN 2026 Altura Energy Corp.'s wholly owned subsidiary, Brooks Range Corp., has acquired the outstanding 50-per-cent working interest from the company's three partners, increasing the company's working interest in the Pinta South area to 100 per cent and doubling the company's total position in northeast Arizona to 10,600 net acres. The northern portion of the project consists of seven shallow helium wells which were drilled in 2020. Each well initially produced between 150,000 and 200,000 cubic feet of raw gas from the Shinarump formation at an average depth of 1,000 feet. Of the raw gas, approximately 7 per cent was helium and the remainder was nitrogen. Following the company's acquisition of the initial 50-per-cent interest in the project in 2023, a sales line was constructed from the seven producing helium wells to a nearby gas plant. Production from the wells died within a few months thereafter due to the low pressure in the Holbrook basin. It is common for shallow, low-pressure gas wells to liquid load and cease to produce and the company is exploring multiple techniques to restore production. The company is currently reviewing each well for artificial lift. Work is expected to commence in the early part of the fourth quarter of 2025 with expectations that production will resume prior to the end of 2025. "We consider re-establishing production from previously producing wells to be the lowest hanging of fruit. What we are planning for these seven wells is relatively inexpensive and routinely done every day in hundreds of wells across the country. What is unusual, is that it was not done to the previously producing wells," says Rob Johnston, chairman of the board of directors. The company is also planning a Shinarump infill drilling program north of Saddle Horse Draw; and an exploratory play targeting the Coconino, Granite Wash and Basement slightly south in Puerco Ridge. New drilling is expected to begin in 2026. About Altura Energy Corp. Altura Energy is an exploration and production company with interests in the Holbrook basin of Arizona. We seek Safe Harbor.