Obsidian Energy’s Peace River team has been conducting an in-depth analysis of our ~500 sections of prospective land holdings in the area with the encouraging results from our first half 2023 capital program, which has established a new development area at Walrus as well as provided key information about the development potential in multiple formations across our acreage. This information, combined with data from other wells and historic vertical oil test wells drilled in the area, has allowed us to generate a detailed study of the area, including regional mapping and well inventory identification.

We announced the details of our three-year development and appraisal plan for the Company on September 21, 2023. In association, we are hosting a live webcast presentation online later today, Thursday, September 21, 2023, at 9:00 a.m. Mountain Daylight Time (11:00 a.m. Eastern Daylight Time) to further discuss the three-year corporate growth plan.

Mr. Stephen Loukas, our President and CEO, and other members of management will be presenting the growth plan and hold a question-and-answer session following the Presentation. The Presentation may be accessed through webcast portal. Those who wish to listen to the Presentation via phone should connect five to 10 minutes prior to the scheduled start time through the following numbers:

Canada / USA: 1-800-319-4610 (toll-free)
Toronto:  1-416-915-3239
Calgary:  1-403-351-0324

The Presentation and the associated updated corporate presentation will be available later today. 

We encourage you to read the release and attend the webcast for more details.