Tamarack Valley Energy Announces Declaration of Monthly Dividend

Press Release

Calgary, Alberta  – Tamarack Valley Energy Ltd. (“Tamarack” or the “Company”) (TSX: TVE) is pleased to announce that it has successfully closed the previously announced Clearwater Infrastructure Limited Partnership (the “CIP”) transaction, as outlined in the Company’s December 13, 2023 press release.

The Board of Directors has also declared a monthly cash dividend on its common shares of C$0.0125 per share in accordance with the Company’s dividend policy. The dividend will be payable on January 15, 2024, to shareholders of record at the close of business on December 29, 2023. This monthly cash dividend is designated as an “eligible dividend” for Canadian income tax purposes.

About Tamarack Valley Energy Ltd.

Tamarack is an oil and gas exploration and production company committed to creating long-term value for its shareholders through sustainable free funds flow generation, financial stability and the return of capital. The Company has an extensive inventory of low-risk, oil development drilling locations focused primarily on Charlie Lake, Clearwater and EOR plays in Alberta. Operating as a responsible corporate citizen is a key focus to ensure we deliver on our environmental, social and governance (ESG) commitments and goals. For more information, please visit the Company’s website at www.tamarackvalley.ca.

For additional information, please contact:

Brian Schmidt
President & Chief Executive Officer
Tamarack Valley Energy Ltd.
Phone: 403.263.4440
www.tamarackvalley.ca

Steve Buytels
Chief Financial Officer
Tamarack Valley Energy Ltd.
Phone: 403.263.4440
www.tamarackvalley.ca

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