Avila Energy Corporation Provides Corporate Update

(TheNewswire)

Calgary, Alberta – April 9, 2025- TheNewswire - Avila Energy Corporation (“Avila” or “Company”),trading symbol, (CSE: VIK, OTCM: PTRVF and FRA:6HG0), announces thefollowing corporate updates:

1.     The company held its Creditors Meeting on March 21, 2025. The creditors voted overwhelmingly in favour of the Proposal. Going forward the unsecured creditors will receive shares of thecompany in exchange for their debt.  The secured creditor will havethe repayment terms amended and unaffected creditors will be dealtwith individually.

2.     The company has an April 28, 2025, hearing scheduled in theCourt of King’s Bench to have the Proposal ratified.  In addition,the company will be seeking an extension to May 30, 2025, to have theCease Trade Order lifted and regain trading on the CSE.  The Proposaloriginally called for the Cease Trade Order to be lifted by April 11,2025, however difficulty in obtaining accounting information from aprevious accounting system has held up the process.  The company isworking to have the 2024 year-end completed by month end.

3.     Upon having the Cease Trade Order lifted the company intendsto commence a Private Placement to raise the capital necessary to fundthe Proposal.

4.     The company also announces that the Mr. Lars Glimhagen hasbeen replaced by Director, Mr. George Mendez as Chief FinancialOfficer and Corporate Secretary.  Mr. Mendez is a graduate of theLondon School of Economics.

About Avila Energy Corporation

The Company is an emerging CSE listed corporationtrading under the symbol (‘VIK’), and in combination with anexpanding portfolio of 100% Owned and Operated oil and natural gasproduction, pipelines and facilities is a licensed producer, explorer,and developer of Energy in Canada. The Company’s long-term vision isto achieve through the implementation of a closed system of carboncapture and sequestration, an established path towards the materialreduction of Tier 1, Tier 2 and Tier 3 emissions and continues to worktowards becoming a vertically integrated Carbon Neutral EnergyProducer. The Company’s goals are to be achieved by focusing on theapplication of proven geological, geophysical, engineering, andproduction techniques in combination with the delivery ofDirect-to-Consumer energy sales to both residential and commercialconsumers.

For further information, please contact:

Donald Benson, President and Chief Executive Officer ofAvila Energy Corporation at (403) 451-2786, Ext.201, or by email at donald.b@avilaenergy.com

ON BEHALF OF THE BOARD

Donald Benson

Chief Executive Officer

Abbreviations

bbls/d - barrels per day
BOE/d - barrels oil equivalent per day
NGLs - Natural Gas Liquids
Mboe - Thousands of barrels of oil equivalent
MMboe - Millions of barrels of oil equivalent
PDP - Proved Developed Producing
TP - Total Proved Reserves
TPP - Total Proved and Probable Reserves
IFRS - International Financial Reporting Standards as issued by theInternational Accounting Standards Board
WTI - West Texas Intermediate, the reference price paid in U.S.dollars at Cushing, Oklahoma for the crude oil standard grade

Forward-Looking Information &Forward-Looking Statements Cautionary Statement

Certain information in this news release, including theoperations at the Company’s properties, constitute forward-lookingstatements under applicable securities laws. Although Avila EnergyCorporation believes that the expectations reflected in theseforward-looking statements are reasonable, undue reliance should notbe placed on them because Avila Energy Corporation can give noassurance that they will prove to be correct. Since forward-lookingstatements address future events and conditions, by their very naturethey involve inherent risks and uncertainties. The forward-lookingstatements contained in this news release are made as at the date ofthis news release and the Company does not undertake any obligation toupdate publicly or to revise any of the included forward-lookingstatements, whether as a result of new information, future events orotherwise, except as may be required by applicable securities laws.This release includes certain statements that may be deemed“forward-looking statements.” All statements in this release,other than statements of historical facts, that address futureproduction, reserve potential, exploration drilling, exploitationactivities and events or developments that the Company expects areforward looking statements. Although the Company believes theexpectations expressed in such forward-looking statements are based onreasonable assumptions, such statements are not guarantees of futureperformance and actual results or developments may differ materiallyfrom those in the forward-looking statements. Factors that could causeactual results to differ materially from those in forward lookingstatements include market prices, exploitation, and explorationsuccesses, continued availability of capital and financing, andgeneral economic, market or business conditions. It should not beassumed that the estimates of net present value of future net revenueattributable to the Company's reserves presented above represent thefair market value of the reserves. The recovery and reserve estimatesfor the Company's oil, NGL, and natural gas reserves provided hereinare estimates only and there is no guarantee that the estimatedreserves will be recovered. Further, there is no assurance that theforecast prices and cost assumptions will beattained, and variances could be material. Investors are cautionedthat any such statements are not guarantees of future performance andthose actual results or developments may differ materially from thoseprojected in the forward-looking statements. Barrel ("bbl")of oil equivalent ("boe") amounts may be misleadingparticularly if used in isolation. All boe conversions in this reportare calculated using a conversion of six thousand cubic feet ofnatural gas to one equivalent barrel of oil (6 mcf=1 bbl) and is basedon an energy conversion method primarily applicable at the burner tipand does not represent a value equivalency at the well head. This newsrelease shall not constitute an offer to sell or the solicitation ofany offer to buy, nor shall there be any sale of these securities inany jurisdiction in which such an offer, solicitation or sale would beunlawful. The securities offered have not been and will not beregistered under the U.S. Securities Act of 1933, as amended, and maynot be offered or sold in the United States absent registration orapplicable exemption from the registration requirements of the U.S.Securities Act and applicable state securities laws. Trading in thesecurities of Avila Energy Corporation should be considered highlyspeculative. Neither the Canadian Share Exchange nor its RegulationServices Provider (as that term is defined in the policies of theCanadian Share Exchange) accepts responsibility for the adequacy oraccuracy of this release. For more information on the Company,Investors should review the Company’s registered filings which areavailable at www.sedar.com.

Copyright (c) 2025 TheNewswire - All rights reserved.