Vancouver, British Columbia – TheNewswire - July 15, 2024 - G2 Energy Corp. (CSE:GTOO), (FWB:UD9) (the "Company" or "G2") is pleased to provide an operations update and June 2024 oil production.  

During the months of May and June 2024, G2 through its operator, continued work on the previously announced Workover Program. During this work, we have encountered additional work and repairs that needed to be completed and G2 is looking to complete the additional work as soon as possible. The extra work has caused a delay in achieving the anticipated production; however, the Company is confident that the additional production will be achieved once the works are complete. During the same period, there was downtime for irregular weather events also. As previously noted, once the Workover Program is complete, the Company will provide an update.

Masten Unit Production – June 2024

OIL	1,642.85 Barrels	2,126.60 BOE[1]
GAS	2,9002 MCF
Oil sold	1832.62 Barrels
Oil Gross Revenue	US $137,588
Estimated G2’s Oil Revenue	US $99,534
Oil in inventory pending sale	460 Barrels

Final amounts for May 2024

OIL	1385.41 Barrels	1,685 BOE[1]
GAS	1,798.59 MCF
Oil Gross Revenue	US $106,100.95
G2’s Oil Revenue	US $76,755.50

[1] NI51-101/5.14(d): "BOEs may be misleading, particularly if used in isolation. A BOE conversion ratio of 6 Mcf: 1bbl is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead."

On Behalf of the Board,

“Slawek Smulewicz”

Slawek Smulewicz

CEO

 

About G2 Energy Corp.

G2 is a junior oil and gas producer listed on the CSE exchange. Its primary focus is to acquire and develop additional overlooked, low-risk, high-return opportunities in the oil and gas sector. G2's strategy is to obtain a portfolio of risk-managed production and development opportunities onshore, the U.S.A. In May 2022, G2 acquired the Masten Unit in the Permian Basin, Texas. The Masten Unit is the Company's first producing asset. G2 is targeting top-tier projects with operating netbacks and infrastructure facilities which will fast track overall oil and gas production growth.

The Canadian Securities Exchange has neither approved nor disapproved the information contained herein.

Forward-Looking Statements Caution

Statements in this press release regarding the Company that are not historical facts are “forward-looking statements” that involve risks and uncertainties. Such information can generally be identified by the use of forwarding-looking wording such as “may”, “expect”, “estimate”, “anticipate”, “intend”, “believe” and “continue” or the negative thereof or similar variations. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties. The Company provides forward-looking statements for the purpose of conveying information about current expectations and plans relating to the future, including expectations regarding the Company's ability to meet its outstanding obligations, and readers are cautioned that such statements may not be appropriate for other purposes. By its nature, this information is subject to inherent risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections, or conclusions may not prove to be accurate, that assumptions may not be correct, and that objectives, strategic goals, and priorities may not be achieved. These risks and uncertainties include but are not limited to those identified and reported in the Company’s public filings under the Company’s SEDAR profile at www.sedar.com. The Company's ability to meet its outstanding obligations could differ materially from those currently anticipated due to factors such as the performance of facilities and pipelines, commodity prices, price volatility, price differentials and the actual prices received for the Company’s products, royalty regimes and exchange rates, the availability of capital, labour and services, the creditworthiness of industry partners, G2’s ability to acquire additional assets, unexpected increases in operating costs, and risks associated with potential future lawsuits and regulatory actions made against the Company including but not limited to being found in default of the Company's obligations to Cloudbreak. Although the Company has attempted to identify important factors that could cause actual actions, events, or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events, or results not to be as anticipated, estimated, or intended. There can be no assurance that such information will prove to be accurate as actual results and future events could differ materially.