Company Announcements

CALGARY, AB , June 14, 2024 /CNW/ - Tenaz Energy Corp. ("Tenaz", "We", "Our", "Us" or the "Company") (TSX: TNZ) is pleased to announce the results from its annual meeting of shareholders (the "Meeting") held on June 14, 2024. A total of 7,626,698 common shares, representing approximately 28% of the Company's issued and outstanding common shares, were represented in person or by proxy at the Meeting.

All of the matters put forward before the shareholders, as set out in the Company's management information circular dated May 10, 2024, were approved by the requisite majority of votes cast at the Meeting.

The following nominees were elected as directors of the Company for the ensuing year, with the specific voting results being as follows:

Other Matters

At the Meeting, the shareholders of the Company also (i) fixed the number of directors at six for the ensuing year, and (ii) approved the appointment Deloitte LLP, Chartered Professional Accountants, as the Company's auditors and authorized the directors to fix their remuneration.

Michael Kaluza has notified Tenaz of his intention to retire from the position of Chief Operating Officer, capping an extraordinarily successful forty-seven year career in the energy industry. Mr. Kaluza was a founding member of our executive team and has played an important role in Tenaz's progress since 2021. We extend our gratitude for his numerous contributions to Tenaz and to earlier ventures with members of the Tenaz team.

We are pleased to announce the appointment of Jenson Tan as Chief Operating Officer to replace Mr. Kaluza after an appropriate transition period. Mr. Tan brings twenty-two years of energy industry experience to his new role, most recently serving as Vice President of Business Development at Vermilion Energy.  He has extensive operating, engineering and management experience in a wide range of international, U.S. and Canadian projects, including engineering and asset management of a number of offshore production and development fields. Mr. Tan has a Bachelor of Science degree in Petroleum Engineering from the University of Texas.  

Tenaz is an energy company focused on the acquisition and sustainable development of international oil and gas assets. At present, Tenaz has domestic operations in Canada along with offshore natural gas assets in the Netherlands. Our domestic operations consist of a semi-conventional oil project in the Rex member of the Upper Mannville group at Leduc-Woodbend in central Alberta. Our Netherlands natural gas assets are located in the Dutch sector of the North Sea. Additional information regarding Tenaz is available on SEDAR and its website at www.tenazenergy.com. Tenaz's Common Shares are listed for trading on the Toronto Stock Exchange under the symbol "TNZ".

For further information, contact:
Tenaz Energy Corp.
investors@tenazenergy.com

Anthony Marino
President and Chief Executive Officer 
Direct: 587 330 1983

Bradley Bennett
Chief Financial Officer 
Direct: 587 330 1714

SOURCE Tenaz Energy Corp.