Cobra Venture Corporation Provides Update on Proposed Reverse Takeover with Robinson Energy Limited

Vancouver, British Columbia--(Newsfile Corp. - November 3, 2025) - Cobra Venture Corporation (TSXV: CBV) (the "Corporation" or "Cobra") is pleased to provide an update, further to its news release dated July 17, 2025, with respect to negotiations between the Corporation and Robinson Energy Limited ("Robinson") regarding an arm's length "Reverse Takeover" of Cobra, as such term is defined by the Exchange Policy 5.2 Changes of Business and Reverse Takeovers (the "Transaction"). The Corporation and Robinson continue to diligently negotiate and work together in good faith to finalize the terms of a definitive agreement with respect to the Transaction (the "Definitive Agreement").

The Transaction will ultimately form a resulting issuer (the "Resulting Issuer") that will continue on the business of Robinson, subject to the terms and conditions outlined herein. Following completion of the Transaction, the Resulting Issuer intends to maintain its listing as a Tier 2 Oil and Gas Issuer on the TSX Venture Exchange (the "Exchange"), subject to Exchange approval.

About Robinson

Robinson, a privately held company incorporated in Alberta on March 4, 2022, was established to acquire and develop strategic petroleum licenses in the Western Province of Papua New Guinea. Robinson has been granted its first petroleum license, PRL 62.

Robinson has completed its private placement financing (the "Private Placement"), raising approximately CAD$4,080,351.50 in gross proceeds. Proceeds of the Private Placement will be used towards Robinson's expenses in connection with the Transaction, work to advance the PRL 62 license, and general working capital purposes.

Further Information

The parties will provide further details in respect of the Transaction by way of updating press releases as the Transaction progresses.

All information contained in this press release with respect to Cobra and Robinson (but excluding the terms of the Transaction) was supplied by the parties respectively, for inclusion herein, without independent review by the other party, and each party and its directors and officers have relied on the other party for any information concerning the other party.

Investors are cautioned that, except as disclosed in the disclosure document to be prepared in connection with the Transaction (in accordance with the policies of the Exchange), any information released or received with respect to the Transaction may not be accurate or complete and should not be relied upon.

The Exchange has in no way passed upon the merits of the Transaction and has neither approved nor disapproved the contents of this press release. Trading in the listed securities of the Corporation has been halted and remain halted pursuant to Policy 5.2 Section 2.5.

For more information regarding Cobra, please contact Daniel Evans, the Chief Executive Officer of the Corporation.

Daniel Evans, CEO 
cbv@telus.net

For more information regarding Robinson, please contact J. Cameron Bailey, the Chief Executive Officer of Robinson.

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

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: This news release includes certain "forward-looking statements" under applicable Canadian securities legislation. Forward-looking statements include, but are not limited to, statements with respect to: the Transaction and certain terms and conditions thereof; the completion of the Transaction and anticipated results thereof; the parties' continued negotiations and good faith with respect to the Transaction and Definitive Agreement; the business of Robinson, financing details, expectations regarding future financings and the use of proceeds thereof; the negotiation and completion of the Definitive Agreement; and future press releases and disclosure. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: future prices and the supply of hydrocarbons; future demand for hydrocarbons; the results of drilling; inability to raise the money necessary to incur the expenditures required to retain and advance the property; environmental liabilities (known and unknown); general business, economic, competitive, political and social uncertainties; results of exploration programs; risks of the oil and gas industry; delays in obtaining governmental approvals; and failure to obtain regulatory or shareholder approvals. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. Cobra disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

This news release shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any state in the United States in which such offer, solicitation or sale would be unlawful. The securities referred to herein have not been and will not be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.

NOT FOR DISTRIBUTION TO THE U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/272917