Altura Energy Inc. announces the closing of a previously announced asset disposition

April 28, 2021

CALGARY, AB – As disclosed in the Corporation’s January 29, 2021 news release, Altura Energy Inc. (“Altura” or the “Corporation”) (TSXV: ATU) amended the payment schedule in respect to the timing of the second transaction in the December 4, 2019 definitive agreement with a private company. On April 27, 2021, Altura closed the sale of a 0.6875% working interest in the Corporation’s production, wells, lands and facilities for cash of $437,500. The disposition schedule for all transactions net of transaction costs is as follows:

Disposition	Closing Dates	Status	Disposition Interest	Cash Proceeds
First Transaction	December 4, 2019	Closed	7.0000%	$3,508,000
Second Transaction
Stage 1	June 30, 2020	Closed	1.3750%	$871,000
Stage 2	September 30, 2020	Closed	1.3750%	$875,000
Stage 3a	January 29, 2021	Closed	0.6875%	$437,500
Stage 3b	April 27, 2021	Closed	0.6875%	$437,500
Stage 4	June 30, 2021	Pending	1.3750%	$875,000
Total			12.5000%	$7,004,000

The cash proceeds from the asset sales strengthen the Corporation’s financial position and flexibility to continue development of the Rex pool at Leduc-Woodbend.

ABOUT ALTURA ENERGY INC.

Altura is a junior oil and gas exploration, development and production company with operations in central Alberta. Altura predominantly produces from the Rex member in the Upper Mannville group and is focused on delivering per share growth and attractive shareholder returns through a combination of organic growth and strategic acquisitions.