Tourmaline Declares Quarterly Dividend

Press Release

Calgary, Alberta – Tourmaline Oil Corp. (TSX – TOU) (“Tourmaline” or the “Company”) is pleased to announce that its Board of Directors has declared a quarterly cash dividend on its common shares of C$0.35 per common share. The dividend will be payable on December 31, 2024 to shareholders of record at the close of business on December 16, 2024. This quarterly cash dividend is designated as an “eligible dividend” for Canadian income tax purposes.

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CURRENCY

All amounts in this news release are stated in Canadian dollars unless otherwise specified.

ABOUT TOURMALINE OIL CORP.

Tourmaline is Canada’s largest and most active natural gas producer dedicated to producing the lowest-cost natural gas in North America. We are an investment grade exploration and production company providing strong and predictable operating and financial performance through the development of our three core areas in the Western Canadian Sedimentary Basin. With our existing large reserve base, decades-long drilling inventory, relentless focus on execution and cost management, and industry-leading environmental performance, we are excited to provide shareholders an excellent return on capital, and an attractive source of income through our base dividend and surplus free cash flow distribution strategies.

FOR FURTHER INFORMATION, PLEASE CONTACT:

Tourmaline Oil Corp.
Michael Rose
Chairman, President and Chief Executive Officer
(403)266-5992

OR

Tourmaline Oil Corp.
Brian Robinson
Chief Financial Officer
(403) 767-3587; brian.robinson@tourmalineoil.com

OR

Tourmaline Oil Corp.
Scott Kirker
Chief Legal Officer
(403) 767-3593; scott.kirker@tourmalineoil.com

OR

Tourmaline Oil Corp.
Jamie Heard
Vice President, Capital Markets
(403) 767-5942; jamie.heard@tourmalineoil.com

OR

Tourmaline Oil Corp.
Suite 2900, 250 – 6th Avenue S.W.
Calgary, Alberta   T2P 3H7
Phone: (403) 266-5992; Facsimile: (403) 266-5952
E-mail: info@tourmalineoil.com
Website: www.tourmalineoil.com

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