NG Energy International Corp. provided an update on the Company's oil prospects and provide further details on its previously announced option to acquire a 25% working interest (WI) in the VMM39 Block. The Option is exercisable by the Company, in its sole discretion and for no additional consideration, upon completion of the San Diego-1X exploration well located in the VMM39 Block.

The Company intends to advance prospective resources (leads) at both VMM39, as a non-operating partner of Clean Energy, and Sinu-9 blocks to serve as a complementary strategy and based on success, provide potential cash flow to further advance the Company's growing natural gas business. VMM39 Block: VMM39 is located in the center of Colombia in the Middle Magdalena Basin, which is responsible for historic production of greater than 1.4 billion barrels of oil. The VMM39 block hosts significant potential for light oil with associated gas and is well-positioned in the middle of strategic oil and gas infrastructure in Colombia, located just 60km from the largest refinery in the country, the Barrancabermeja Refinery.

The Company will participate in the San Diego-1X exploration well with an option to acquire a 25% WI in the block. Sinu-9 Block (72% WI) ? Oil Prospect: In 2022, the Company identified light crude resources in the Western Region of the Sinu-9 block.

Using Isochron data and the previously drilled ANH LA X-1 stratigraphic well, which contains good oil shows in various sections of the cores, the Company identified unrisked best estimate prospective resources (leads) of 279 million barrels of oil. The Company is preparing to submit an application to the ANH in order to test these prospective resources upon receipt of approval to drill.