(MENAFN- Newsfile Corp) Calgary, Alberta--(Newsfile Corp. - November 20, 2025) - Axiom Oil and Gas Inc. (" Axiom " or the " Company ") is pleased to report that as a result of its recent successful drilling program of its highest cash netback property, Black Creek, the Company has initiated a sales process with Sayers Energy Advisors for several non-core properties with bid deadline November 27, 2025, including: Brazeau, Esther, Hamilton Lake/Consort, Killam/Iron Creek, Marten Creek and Mundare areas of Alberta. The properties also include Axiom's interest in certain midstream assets including natural gas processing plants, oil batteries, pipelines, and roads. The proceeds are intended to fund further development of the Black Creek property and general corporate purposes.

For further information on Axiom's divestiture offering please visit:

BRAZEAU - $110,000,000 LAWSUIT AGAINST TIDEWATER

Included in the sales process is Axiom's Brazeau property in West Central Alberta, which requires specific disclosure to the ability to process the properties natural gas reserves, as detailed under "Brazeau" in the above link to the Sayers process. The Brazeau property, and various liabilities, were sold to Axiom, in 2020 by Tidewater Midstream and Infrastructure Ltd. (" Tidewater "). The transaction included a separate Gas Handling Agreement (the " GHA ") which required Tidewater to process as Highest Priority "P1" the sour natural gas wells located in the Brazeau property, for life of the reserves and area dedication. The lawsuit includes provisions for loss of reserves and damages of $110 million. Axiom's claim arises from Tidewater's 2024 unilateral termination of the GHA and its subsequent change to the H2S specification from 300,000 ppm to 9 ppm. Axiom's position is that the termination and specification change were not undertaken "acting reasonably" as required by the GHA, that Axiom had already pre-paid its portion of the sour plant turn around costs of $4,500,000 under the GHA, which amounts to an unreasonable refusal to process Axiom's sour gas, which in turn amounts to an improper termination of the GHA. The Brazeau property contains approximately 650 boe/d of shut-in production and contains long life independently estimated reserves of 6.3 Bcf of natural gas and 931,000 barrels oil and natural gas liquids, with a net present value of $17.8 million, using commodity forecast pricing, a 10% discount rate, and other assumptions (see READER ADVISORY: Forward-Looking Information and Statements).

Axiom believes there were additional assurances that its sour gas would be processed long term. As disclosed in Tidewater's financial statements, Tidewater received a $20 million Alberta government grant. The Alberta Energy Regulator approved in December 2023 a cogeneration power project, a few months prior to the sour shut-in in early 2024. Sour gas processing service would be required for the long-term heat supply source for a future constructed cogeneration plant at Brazeau for the project to proceed.

ABOUT AXIOM OIL AND GAS INC.

Axiom Oil and Gas Inc. is a growth focused, private Canadian energy company dedicated to generating shareholder value by the responsible development of crude oil and natural gas in the Western Canadian Sedimentary Basin. Combined with an acquisition strategy targeting highly accretive, low decline, complementary opportunities, Axiom has assembled an attractive portfolio of free-cash flowing, low-decline operated assets in Central Alberta.

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