February 23, 2023

Stocks in play: Obsidian Energy Ltd.

Newsfile

Obsidian Energy Announces Fourth Quarter and Full Year 2022 Results

Board Appoints Stephen Loukas President and Chief Executive OfficerFourth quarter average production increased to 31,742 boe/d (20 percent increase from 2021)Funds flow from operations was $450.7 million in 2022 (107 percent increase from 2021)Net debt decreased to $316.8 million at December 31, 2022 (23 percent decrease from 2021)Normal Course Issuer Bid Approved by TSXCalgary, Alberta–(Newsfile Corp. – February 23, 2023) – OBSIDIAN ENERGY LTD. (TSX: OBE) (NYSE American: OBE) (“Obsidian Energy

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