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Pieridae Energy Announces Executive Appointments and 2023 Exit Production

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CALGARY, Alberta, Jan. 31, 2024 (GLOBE NEWSWIRE) — Pieridae Energy Limited (“Pieridae” or the “Company”) (TSX: PEA) is pleased to announce changes to its executive leadership team (“ELT”) focused on improving execution of the Company’s strategic objectives, cost reduction initiatives and sustainability. Following recent appointments, Pieridae’s ELT, reporting to Darcy Reding, President and Chief Executive Officer, is comprised of:

These changes conclude a planned leadership renewal process at Pieridae and ensure the Company retains strong continuity in leadership at all levels of the organization.

“I am extremely pleased to announce these important changes to the executive team at Pieridae”, said Darcy Reding, President and CEO. “The team we have assembled brings the right mix of technical skill, commercial acumen, and proven leadership ability that will enable Pieridae to execute its corporate strategy and create value for our shareholders.”

2023 EXIT PRODUCTION

Pieridae is also pleased to announce strong December 2023 production rates of approximately 37,500 boe/d, reflecting, among other factors, a recovery of production following the conclusion of the Waterton turnaround in October 2023. Average 2023 production was approximately 33,000 boe/d.

ABOUT PIERIDAE

Pieridae is a Canadian energy company headquartered in Calgary, Alberta. The Company is a significant upstream producer of conventional natural gas, NGLs, condensate and sulphur from the Canadian Foothills of Alberta and northeast British Columbia. Pieridae’s vision is to provide responsible, affordable natural gas and derived products to meet society’s energy security needs. Pieridae’s common shares trade on the TSX under the symbol “PEA”.

For further information, visit www.pieridaeenergy.com, or please contact:

Darcy Reding, President and Chief Executive Officer
Telephone: (403) 261-5900
Adam Gray, Chief Financial Officer
Telephone: (403) 261-5900

Investor Relations
investors@pieridaeenergy.com

Neither TSX nor its Regulation Services Provider (as that term is defined in policies of the TSX) accepts responsibility for the adequacy or accuracy of this release.


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