(MENAFN- Newsfile Corp) 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
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For more information regarding Robinson, please contact J. Cameron Bailey, the Chief Executive Officer of Robinson.

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