Prairie Thunder Resources Ltd. (“Prairie Thunder” or the “Company”) has engaged Sayer Energy Advisors to assist the Company with the sale of its oil and natural gas interests located in the Wapiti and Berland River areas of Alberta (the “Properties”).

The Properties include current oil and natural gas production from the Cardium Formation along with an extensive land base with Cardium P&NG rights for further development of the Cardium.

Average daily production net to Prairie Thunder from the Properties for the month of July 2023 was approximately 1,195 boe/d, consisting of 859 barrels of oil and natural gas liquids per day and 2.0 MMcf/d of natural gas.

Operating income net to Prairie Thunder from the Properties for the first half of 2023 averaged approximately $1.0 million per month, or $12.0 million on an annualized basis.

As of October 7, 2023, the Properties had a deemed net asset value of $16.4 million (deemed assets of $18.2 million and deemed liabilities of $1.8 million), with an LMR ratio of 10.35.

GLJ Ltd. (“GLJ”) prepared an independent reserves evaluation of the Properties (the “GLJ Report”) as part of the Company’s year end reporting. The GLJ Report is effective December 31, 2022 using an average of GLJ, McDaniel & Associates Consultants Ltd. and Sproule Associates Limited’s January 1, 2023 forecast pricing (“3C Average”). GLJ estimated that, as at December 31, 2022, the Properties contained remaining proved plus probable reserves of 2.2 million barrels of oil and natural gas liquids and 4.3 Bcf of natural gas (2.9 million boe), with an estimated net present value of $29.4 million using forecast pricing at a 10% discount.

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

Cash offers relating to this process will be accepted until 12:00 pm on Thursday, November 16, 2023.

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