Calgary, Alberta--(Newsfile Corp. - September 11, 2026) - Journey Energy Inc. (TSX: JOY) (OTCQX: JRNGF) ("Journey" or the "Company") is pleased to announce that it has closed the acquisition of a private company ("PrivateCo"), for total consideration of $8.0 million subject to customary closing adjustments. PrivateCo's primary asset is a 0.98% working interest in the Keyera Rimbey natural gas processing facility and associated infrastructure (the "Asset"). The Asset generates third party processing revenue of approximately $0.7 million per year. Most significantly, the acquisition is expected to deliver a net reduction in operating expenses for processing Journey's working interest gas production from the Duvernay Joint Venture. Journey forecasts the purchase will payout within two to three years, based on forecast revenues and operating cost reductions.

Journey also announces that it has posted a new corporate presentation on the Company's website at www.journeyenergy.ca. The September Corporate Presentation contains updated 2026 guidance, reflecting the removal of recently completed divestments, and preliminary initial guidance for 2027.

Journey is presenting at the Peters & Co. Limited 30^th Annual Energy Conference in Toronto on Wednesday, September 16 at 11:40 AM Eastern Time.

About the Company

Journey is a Canadian exploration and production company focused on oil-weighted operations in Alberta, Canada. Journey's strategy is to grow its production base by drilling on its existing core lands, implementing secondary and tertiary flood projects on its existing lands, and by executing on accretive acquisitions. The Company continues to shift its focus to the development of its unconventional Duvernay light oil resource play. In addition, Journey is continuing with its plans to grow its power generation business through its projects at Gilby and Mazeppa.

Journey Energy Inc.
1800, 215 - 9^th Avenue SW
Calgary, AB T2P 1K3
403-294-1635
www.journeyenergy.ca

ADVISORIES

This press release contains forward-looking statements and forward-looking information (collectively "forward-looking information") within the meaning of applicable securities laws. Forward-looking information typically uses words such as "anticipate", "believe", "project", "expect", "goal", "plan", "intend" or similar words suggesting future outcomes, statements that actions, events or conditions "may", "would", "could" or "will" be taken or occur in the future. Without limiting the generality of the foregoing, this press release contains forward-looking information regarding the expected benefits of the acquisition of PrivateCo, including anticipated reductions in operating expenses and processing costs; expected third party processing revenue; the anticipated payout period for the acquisition; the Company's updated 2026 guidance; initial 2027 guidance; and the Company's plans, strategy and growth opportunities, including with respect to its Duvernay assets and power generation business.

The forward-looking information is based on certain key expectations and assumptions made by management, including expectations and assumptions concerning prevailing commodity prices and differentials, exchange rates, interest rates, future production rates and estimates of operating costs; the state of the economy and the exploration and production business; results of operations; performance; business prospects and opportunities; the availability and cost of financing, labour and services; the impact of increasing competition; the ability to efficiently integrate assets and employees acquired through acquisitions, the ability to market oil and natural gas successfully and the ability to access capital. Although we believe that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because Journey can give no assurance that they will prove to be correct. Since forward-looking information addresses future events and conditions, by its very nature they involve inherent risks and uncertainties. The actual results, performance or achievement could differ materially from those expressed in, or implied by, the forward-looking information and, accordingly, no assurance can be given that any of the events anticipated by the forward-looking information will transpire or occur, or if any of them do so, what benefits that we will derive therefrom.

Forward-looking information involves substantial known and unknown risks and uncertainties, most of which are beyond the control of Journey, including, without limitation, those listed under "Risk Factors" and "Forward-Looking Statements" in the Annual Information Form filed on www.sedarplus.ca on March 24, 2026. Additional information on these and other factors that could affect the operations or financial results are included in reports on file with applicable securities regulatory authorities and may be accessed through the SEDAR+ website (www.sedarplus.ca). These forward-looking statements are made as of the date of this press release and we disclaim any intent or obligation to update publicly any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.

This press release contains future-oriented financial information and financial outlook information (collectively, "FOFI") including with respect to anticipated payout timing, expected revenues, expected cost reductions and updated 2026 or initial 2027 guidance, all of which are subject to the same assumptions, risk factors, limitations and qualifications as set forth in the above paragraphs. FOFI contained in this press release was made as of the date of this press release and was provided for providing further information about Journey's anticipated future business operations. Journey disclaims any intention or obligation to update or revise any FOFI contained in this press release, whether as a result of new information, future events or otherwise, unless required pursuant to applicable law. Readers are cautioned that the FOFI contained in this press release should not be used for purposes other than for which it is disclosed herein.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/314065

Source: Journey Energy Inc.