ISSUANCE OF STOCK OPTIONS

Calgary, March 30, 2021: Valeura Energy Inc. (TSX:VLE, LSE:VLU) (the “Company” or “Valeura”), an upstream oil and gas company with assets in the Thrace Basin of Turkey, announces that on March 26, 2021 it issued an aggregate of 2,262,500 incentive stock options to a number of employees, officers, directors, and consultants, including an individual engaged in investor relations activities on behalf of the Company.  This award follows the Company’s normal course annual issuance having been reviewed and recommended by the Governance and Compensation Committee and subsequently approved by the Board of Directors on March 24, 2021.

The stock options are exercisable for a period of seven years at an exercise price of C$0.52 per share and will vest over a period of three years.  The stock options were granted in accordance with the terms of the Company’s stock option plan, which has been approved by the Company’s shareholders and the TSX.

Certain persons discharging managerial responsibilities (“PDMR”) were recipients of stock options as detailed below.

PDMR Position Volume
Sean Guest Executive Director, President and Chief Executive Officer 550,000
Heather Campbell Chief Financial Officer 330,000
Gordon Begg Vice President, Commercial 275,000
Rob Sadownyk Vice President, Exploration 220,000
Tim Marchant Non-Executive Chairman 100,000
Tim Chapman Non-Executive Director 100,000
Russell Hiscock Non-Executive Director 100,000
Jim McFarland Non-Executive Director 100,000
Ron Royal Non-Executive Director 100,000
Kimberley Wood Non-Executive Director 100,000

For further information please contact:

Valeura Energy Inc. (General and Investor Enquiries)                       +1 403 237 7102
Sean Guest, President and CEO
Heather Campbell, CFO
Robin Martin, Investor Relations Manager
Contact@valeuraenergy.com, IR@valeuraenergy.com

Auctus Advisors LLP (Corporate Broker)                                          +44 (0) 7711 627 449
Jonathan Wright
Valeura@auctusadvisors.co.uk

CAMARCO (Public Relations, Media Adviser)                                   +44 (0) 20 3757 4980
Owen Roberts, Billy Clegg, Monique Perks, Hugo Liddy
Valeura@camarco.co.uk

 

This announcement does not constitute an offer to sell or the solicitation of an offer to buy securities in any jurisdiction, including where such offer would be unlawful. This announcement is not for distribution or release, directly or indirectly, in or into the United States, Ireland, the Republic of South Africa or Japan or any other jurisdiction in which its publication or distribution would be unlawful.

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

This announcement does not contain inside information.

 

 

DEALING NOTIFICATION FORM FOR USE BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITY AND THEIR CLOSELY ASSOCIATED PERSONS

 1.        Details of the person discharging managerial responsibilities/person closely associated
a) Name: William Sean Guest
2.        Reason for the notification
a) Position/status: Chief Executive Officer
b) Initial notification/Amendment: Initial Notification
3.        Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a) Name Valeura Energy Inc.
b) LEI: 2549003ZBCOPPO06GY48
4.        Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a) Description of the financial instrument, type of instrument:

Identification code:

Common shares

 

 

ISIN: CA9191444020

b) Nature of the transaction: Grant of option to purchase common shares under Valeura’s Stock Option Plan for a period of seven years from the date of grant, with an option price of C$0.52 per share.
c) Price(s) and volume(s):  

Price(s) Volume(s)
C$0.00 550,000
d) Aggregated information:

–       Aggregated volume

–       Price

 

550,000
C$0.00

e) Date of the transaction: March 26, 2021
f) Place of the transaction: Outside of trading venue

 

DEALING NOTIFICATION FORM FOR USE BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITY AND THEIR CLOSELY ASSOCIATED PERSONS

 1.        Details of the person discharging managerial responsibilities/person closely associated
a) Name: Heather Campbell
2.        Reason for the notification
a) Position/status: Chief Financial Officer
b) Initial notification/Amendment: Initial Notification
3.        Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a) Name Valeura Energy Inc.
b) LEI: 2549003ZBCOPPO06GY48
4.        Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a) Description of the financial instrument, type of instrument:

Identification code:

Common shares

 

 

ISIN: CA9191444020

b) Nature of the transaction: Grant of option to purchase common shares under Valeura’s Stock Option Plan for a period of seven years from the date of grant, with an option price of C$0.52 per share.
c) Price(s) and volume(s):  

Price(s) Volume(s)
C$0.00 330,000
d) Aggregated information:

–       Aggregated volume

–       Price

 

330,000
C$0.00

e) Date of the transaction: March 26, 2021
f) Place of the transaction: Outside of trading venue

 

DEALING NOTIFICATION FORM FOR USE BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITY AND THEIR CLOSELY ASSOCIATED PERSONS

 1.        Details of the person discharging managerial responsibilities/person closely associated
a) Name: Gord Begg
2.        Reason for the notification
a) Position/status: Vice President, Commercial
b) Initial notification/Amendment: Initial Notification
3.        Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a) Name Valeura Energy Inc.
b) LEI: 2549003ZBCOPPO06GY48
4.        Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a) Description of the financial instrument, type of instrument:

Identification code:

Common shares

 

 

ISIN: CA9191444020

b) Nature of the transaction: Grant of option to purchase common shares under Valeura’s Stock Option Plan for a period of seven years from the date of grant, with an option price of C$0.52 per share.
c) Price(s) and volume(s):  

Price(s) Volume(s)
C$0.00 275,000
d) Aggregated information:

–       Aggregated volume

–       Price

 

275,000
C$0.00

e) Date of the transaction: March 26, 2021
f) Place of the transaction: Outside of trading venue

 

DEALING NOTIFICATION FORM FOR USE BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITY AND THEIR CLOSELY ASSOCIATED PERSONS

 1.        Details of the person discharging managerial responsibilities/person closely associated
a) Name: Rob Sadownyk
2.        Reason for the notification
a) Position/status: Vice President, Exploration
b) Initial notification/Amendment: Initial Notification
3.        Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a) Name Valeura Energy Inc.
b) LEI: 2549003ZBCOPPO06GY48
4.        Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a) Description of the financial instrument, type of instrument:

Identification code:

Common shares

 

 

ISIN: CA9191444020

b) Nature of the transaction: Grant of option to purchase common shares under Valeura’s Stock Option Plan for a period of seven years from the date of grant, with an option price of C$0.52 per share.
c) Price(s) and volume(s):  

Price(s) Volume(s)
C$0.00 220,000
d) Aggregated information:

–       Aggregated volume

–       Price

 

220,000
C$0.00

e) Date of the transaction: March 26, 2021
f) Place of the transaction: Outside of trading venue

 

DEALING NOTIFICATION FORM FOR USE BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITY AND THEIR CLOSELY ASSOCIATED PERSONS

 1.        Details of the person discharging managerial responsibilities/person closely associated
a) Name: Timothy R. Marchant
2.        Reason for the notification
a) Position/status: Non-Executive Chairman
b) Initial notification/Amendment: Initial Notification
3.        Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a) Name Valeura Energy Inc.
b) LEI: 2549003ZBCOPPO06GY48
4.        Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a) Description of the financial instrument, type of instrument:

Identification code:

Common shares

 

 

ISIN: CA9191444020

b) Nature of the transaction: Grant of option to purchase common shares under Valeura’s Stock Option Plan for a period of seven years from the date of grant, with an option price of C$0.52 per share.
c) Price(s) and volume(s):  

Price(s) Volume(s)
C$0.00 100,000
d) Aggregated information:

–       Aggregated volume

–       Price

 

100,000
C$0.00

e) Date of the transaction: March 26, 2021
f) Place of the transaction: Outside of trading venue

 

DEALING NOTIFICATION FORM FOR USE BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITY AND THEIR CLOSELY ASSOCIATED PERSONS

 1.        Details of the person discharging managerial responsibilities/person closely associated
a) Name: Timothy Chapman
2.        Reason for the notification
a) Position/status: Non-Executive Director
b) Initial notification/Amendment: Initial Notification
3.        Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a) Name Valeura Energy Inc.
b) LEI: 2549003ZBCOPPO06GY48
4.        Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a) Description of the financial instrument, type of instrument:

Identification code:

Common shares of Valeura Energy Inc.

 

 

ISIN: CA9191444020

b) Nature of the transaction: Grant of option to purchase common shares under Valeura’s Stock Option Plan for a period of seven years from the date of grant, with an option price of C$0.52 per share.
c) Price(s) and volume(s):  

Price(s) Volume(s)
C$0.00 100,000
d) Aggregated information:

–       Aggregated volume

–       Price

 

100,000
C$0.00

e) Date of the transaction: March 26, 2021
f) Place of the transaction: Outside of trading venue

 

DEALING NOTIFICATION FORM FOR USE BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITY AND THEIR CLOSELY ASSOCIATED PERSONS

 1.        Details of the person discharging managerial responsibilities/person closely associated
a) Name: Russell Hiscock
2.        Reason for the notification
a) Position/status: Non-Executive Director
b) Initial notification/Amendment: Initial Notification
3.        Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a) Name Valeura Energy Inc.
b) LEI: 2549003ZBCOPPO06GY48
4.        Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a) Description of the financial instrument, type of instrument:

Identification code:

Common shares

 

 

ISIN: CA9191444020

b) Nature of the transaction: Grant of option to purchase common shares under Valeura’s Stock Option Plan for a period of seven years from the date of grant, with an option price of C$0.52 per share.
c) Price(s) and volume(s):  

Price(s) Volume(s)
C$0.00 100,000
d) Aggregated information:

–       Aggregated volume

–       Price

 

100,000
C$0.00

e) Date of the transaction: March 26, 2021
f) Place of the transaction: Outside of trading venue

 

DEALING NOTIFICATION FORM FOR USE BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITY AND THEIR CLOSELY ASSOCIATED PERSONS

 1.        Details of the person discharging managerial responsibilities/person closely associated
a) Name: James D. McFarland
2.        Reason for the notification
a) Position/status: Non-Executive Director
b) Initial notification/Amendment: Initial Notification
3.        Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a) Name Valeura Energy Inc.
b) LEI: 2549003ZBCOPPO06GY48
4.        Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a) Description of the financial instrument, type of instrument:

Identification code:

Common shares

 

 

ISIN: CA9191444020

b) Nature of the transaction: Grant of option to purchase common shares under Valeura’s Stock Option Plan for a period of seven years from the date of grant, with an option price of C$0.52 per share.
c) Price(s) and volume(s):  

Price(s) Volume(s)
C$0.00 100,000
d) Aggregated information:

–       Aggregated volume

–       Price

 

100,000
C$0.00

e) Date of the transaction: March 26, 2021
f) Place of the transaction: Outside of trading venue

 

DEALING NOTIFICATION FORM FOR USE BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITY AND THEIR CLOSELY ASSOCIATED PERSONS

 1.        Details of the person discharging managerial responsibilities/person closely associated
a) Name: Ron Royal
2.        Reason for the notification
a) Position/status: Non-Executive Director
b) Initial notification/Amendment: Initial Notification
3.        Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a) Name Valeura Energy Inc.
b) LEI: 2549003ZBCOPPO06GY48
4.        Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a) Description of the financial instrument, type of instrument:

Identification code:

Common shares

 

ISIN: CA9191444020

b) Nature of the transaction: Grant of option to purchase common shares under Valeura’s Stock Option Plan for a period of seven years from the date of grant, with an option price of C$0.52 per share.
c) Price(s) and volume(s):  

Price(s) Volume(s)
C$0.00 100,000
d) Aggregated information:

–       Aggregated volume

–       Price

 

100,000
C$0.00

e) Date of the transaction: March 26, 2021
f) Place of the transaction: Outside of trading venue

 

DEALING NOTIFICATION FORM FOR USE BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITY AND THEIR CLOSELY ASSOCIATED PERSONS

 1.        Details of the person discharging managerial responsibilities/person closely associated
a) Name: Kimberley Wood
2.        Reason for the notification
a) Position/status: Non-Executive Director
b) Initial notification/Amendment: Initial Notification
3.        Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a) Name Valeura Energy Inc.
b) LEI: 2549003ZBCOPPO06GY48
4.        Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a) Description of the financial instrument, type of instrument:

Identification code:

Common shares

 

 

ISIN: CA9191444020

b) Nature of the transaction: Grant of option to purchase common shares under Valeura’s Stock Option Plan for a period of seven years from the date of grant, with an option price of C$0.52 per share.
c) Price(s) and volume(s):  

Price(s) Volume(s)
C$0.00 100,000
d) Aggregated information:

–       Aggregated volume

–       Price

 

100,000
C$0.00

e) Date of the transaction: March 26, 2021
f) Place of the transaction: Outside of trading venue

 

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