PYTHEAS ENERGY WILL REVITALIZE THE PERMIAN, BAKKEN AND MINERVA-ROCKDALE WELLS WITH THREE NEW OIL AND GAS ASSETS.

SOURCE: Wordl Oil

Pytheas Energy, Inc has announced the addition of three oil and gas producing properties to its growing portfolio: the Andrews Crane asset, the Bakken asset and the Minerva-Rockdale asset. These involve operating and non-operating interests in 620 oil and gas wells, with a combined current gross production of approximately 357 bpd.

Pytheas has reached an agreement to acquire the remaining 85% of SPVI.

The AC asset currently generates 128 bpd and has a market value of about $11 million. Management used AI technology and the company's proprietary industry insights to identify Andrews Crane as a recently abandoned asset by a large company. Although no guarantees can be made, Management's preliminary analysis estimates that bpd of the AC asset may increase by up to 120 bpd over the next 12 months, to a forecast 200-250 bpd, thus potentially doubling its market value. Active Bakken. The Bakken asset consists of a 12% non-operating interest in 19 wells in the Bakken region of North Dakota, where more than 10% of all oil produced in the US comes from. This asset is worth market of about 2 million dollars and generates annual income of about 450,000 dollars thanks to the production of about 19 bpd. Management identified that the Bakken asset had a motivated seller. As such, Pytheas was able to acquire a non-operating interest in the asset at a discount, and with the aim of increasing the value of the Company. Minerva-Rockdale "MR" asset. The MR asset is located in the Minerva-Rockdale oil field in Milam County, Texas, and consists of a 50% non-operating interest in approximately 488 wells. According to Pytheas internal management reports for the fourth quarter of 2023, the MR asset has an estimated market value of 9.1

millions of dollars. It generates a continuous revenue stream of $8.0 million annually through the production of approximately 210 bpd from a portion of the property's wells. Currently, only a portion of the property's wells are in production, producing between 100 and 150 bpd as management begins to stabilize the property and rehabilitate the wells.