Property Divestiture

BID DEADLINE: JUNE 20, 2024 AT 4:00 PM MST

Kennibar Resources Ltd. (“Kennibar”) has retained Trimble Energy Group (“TEG”) as its exclusive financial advisor to assist with the marketing of its Fee Title Land and Royalty Interests in Alberta and Saskatchewan.

DIVESTITURE OVERVIEW

• In Alberta, Kennibar holds fee title interests in an aggregate of 4,389 acres (~ 6.85 sections) and receives lessor royalty revenue of approximately $2,300 per year from the Herronton/Arrowwood area. Additional revenue from the area is expected to recommence in May 2024.

• There is potential for additional revenue from the Alberta properties in the Duvernay and Sparky Formations due to offsetting production and potential for pooling of land. There are a number of producing formations that are proximal to Kennibar’s unleased fee title.

• In Saskatchewan, Kennibar holds fee title interests and various GORR interests in an aggregate of 2,120 acres (~3.3 sections). Kennibar’s Saskatchewan properties provide the majority of its lessor royalty and GORR revenue. In 2023, Kennibar received approximately $173,000 in revenue from wells producing from the Alida, Midale and Watrous Formations. There is drilling upside on the fee title and/or the GORR interests held by Kennibar.

For more information visit Trimble Energy Group’s website at www.trimbleenergygroup.com or contact Ryan Ferguson Young, Executive Vice President of TEG at Ryan@trimbleenergygroup.com or
(403) 615-2975.