Molori Drills 48 Net Feet of Pay in Red Cave, and Successfully Completes Largescale Frac of 23-1R Well

Borger, Texas--(Newsfile Corp. - January 22, 2018) - Molori Energy Inc. (TSXV: MOL) (OTCQB: MOLOF) ("Molori" or "the Company") is pleased to announce that it has drilled to target depth the first of eight planned Red Cave Appraisal wells (''The Thompson 23-1R Well'') upon the Company's Moore County, Texas acreage upon which Molori now holds a 75% working interest. The 23-1R well was drilled to a total measured depth of approximately 2,500 feet and was immediately logged.

After evaluating the open hole logs late last month, it was determined that production pipe should be run on the Thompson 23-1R.

The 'targeted' Red Cave zone covered 255 gross feet, of which 48 net feet was perforated. 42,000 gallons of treated water, chemical and ball sealers were used to break down the approximately 50 feet of pay in order to prepare for the frac of the Red Cave zone.

On January 20^th the well was successfully fracked with approximately 400,000 gallons of slick water and 250,000 lbs of sand.

Molori's Borger, Texas based operations team will next install a pumpjack over the 23-1R well and begin to flow the well to surface. A full analysis of the well will be completed and reported within the next two weeks.

About Molori

Molori Energy Inc. is an oil and gas production company with current operations in the Texas Panhandle West Field. The focus of the Company's exploration arm is the underdeveloped Red Cave formation, and Molori along with its partners have engaged in a broad drilling program to assess and develop its Red Cave acreage. Molori's business model is to deliver sustainable growth in shareholder value by focusing on exploiting its existing reserves, commercializing and developing discoveries and pursuing selective acquisitions.

Molori's operating team, based in Borger, Texas have extensive experience in the oil and gas industry in the Texas Panhandle. The Company believes that the area represents a significant hydrocarbon basin in a well-developed region. By employing leading-edge exploration and frac techniques, Molori believes that the Company is well positioned to increase its production and reserves and further benefit from the opportunities that exist in the Texas Panhandle region.

For further information, please visit the Company's website at www.molorienergy.com or contact

Judy-Ann Pottinger
Communications Director
Molori Energy Inc.
(604) 617-5290
judy-ann@molorienergy.com
www.molorienergy.com

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This News Release contains forward-looking statements. Forward-looking statements include but are not limited to those with respect to the prices of oil and gas, the estimation of oil and gas resources and reserves, the realization of oil and gas reserve estimates, the timing and amount of estimated future production, costs of production, capital expenditures, costs and timing of the development of new deposits, success of exploration activities, permitting time lines, currency fluctuations, requirements for additional capital, Government regulation of oil and gas operations, environmental risks, unanticipated reclamation expenses, title disputes or claims and limitations on insurance coverage and the timing and possible outcome of pending litigation. In certain cases, forward-looking statements can be identified by the use of words such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes" or variations of such words and phrases, or statements that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Such risks and uncertainties include, among others, the actual results of current exploration activities, conclusions or economic evaluations, changes in project parameters as plans continue to be refined, possible variations in grade and or recovery rates, failure of plant, equipment or processes to operate as anticipated, accidents, labor disputes or other risks of the oil & gas industry, delays in obtaining government approvals or financing or incompletion of development or construction activities, risks relating to the integration of acquisitions, to international operations, and to the prices of oil & gas. While 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 statements, 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 forward-looking 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. The Company expressly 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.