Oct 21, 2021 Decklar Resources Inc

Decklar Resources Inc. Announces Completion Operations for the Oza-1 Well

CALGARY, Alberta, Oct. 21, 2021  — Decklar Resources Inc.(TSX.V:DKL)(OTCQX:DKLRF) (the “Company” or “Decklar”) announces the commencement of completion operations for the Oza-1 well re-entry.

As previously announced, the Oza-1 well re-entry has been successfully flow-tested in the three target zones (L2.2, L2.4, and L2.6). The final well completion design and procurement have been concluded, with all completion equipment now having arrived on location at the Oza-1 well. Completion operations on the well have commenced, which include running 2 7/8” tubing, production packers, sliding sleeves, and gas lift equipment, with all activities anticipated to conclude within 7 to 10 days. The well will be initially configured for production from the L2.6 zone, which is tested at rates up to 2,463 bopd as previously announced.

All early production facilities have been installed and function tested including a 5,000 bopd three-phase separator, crude oil storage tanks, and export pumps.

Duncan Blount, CEO of Decklar Resources, remarked

“We look forward to completing the Oza-1 well and bringing the Oza Field into full-time commercial production for the first time since its discovery in the 1970s. This is an exciting milestone for us at Decklar as we transition to being an oil-producing company. With oil prices at a seven-year high, this is a very exciting time for the commencement of production for the company. From here, we will continue with full field development at Oza, and also look forward to pursuing similar re-entry strategies at our Asaramatoru and Emohua Fields.”

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Language

Certain statements made and information contained herein constitute “forward-looking information” (within the meaning of applicable Canadian securities legislation), including entering into definitive agreements in respect of the Transaction and satisfaction of conditions precedent to completion of the Transaction. All statements in this news release, other than statements of historical facts, are forward-looking statements. Such statements and information (together, “forward-looking statements”) relate to future events or the Company’s future performance, business prospects or opportunities. There is no certainty that definitive agreements in respect of the Transaction will be entered into, or that any conditions precedent contained therein will be satisfied on terms satisfactory to the parties or at all.

All statements other than statements of historical fact may be forward-looking statements. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as “seek”, “anticipate”, “plan”, “continue”, “estimate”, “expect, “may”, “will”, “project”, “predict”, “potential”, “targeting”, “intend”, “could”, “might”, “should”, “believe” and similar expressions) are not statements of historical fact and may be “forward-looking statements”. Forward-looking statements involve known and unknown risks, uncertainties, and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. The Company believes that the expectations reflected in those forward-looking statements are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward-looking statements should not be unduly relied upon. The Company does not intend and does not assume any obligation, to update these forward-looking statements, except as required by applicable laws. These forward-looking statements involve risks and uncertainties relating to, among other things, changes in oil prices, results of exploration and development activities, uninsured risks, regulatory changes, defects in title, availability of materials and equipment, timeliness of government or other regulatory approvals, the actual performance of facilities, availability of financing on reasonable terms, availability of third-party service providers, equipment and processes relative to specifications and expectations and unanticipated environmental impacts on operations. Actual results may differ materially from those expressed or implied by such forward-looking statements.

The Company provides no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Company does not assume the obligation to revise or update these forward-looking statements after the date of this document or to revise them to reflect the occurrence of future unanticipated events, except as may be required under applicable securities laws.

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6) This document contains forward-looking information and forward-looking statements, within the meaning of applicable Canadian securities legislation, (collectively, “forward-looking statements”), which reflect management's expectations regarding Decklar Resources Inc.’s future growth, future business plans and opportunities, expected activities, and other statements about future events, results or performance. Wherever possible, words such as “predicts”, “projects”, “targets”, “plans”, “expects”, “does not expect”, “budget”, “scheduled”, “estimates”, “forecasts”, “anticipate” or “does not anticipate”, “believe”, “intend” and similar expressions or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved, or the negative or grammatical variation thereof or other variations thereof, or comparable terminology have been used to identify forward-looking statements. These forward-looking statements include, among other things, statements relating to: (a) revenue generating potential with respect to Decklar Resources Inc.’s industry; (b) market opportunity; (c) Decklar Resources Inc.’s business plans and strategies; (d) services that Decklar Resources Inc. intends to offer; (e) Decklar Resources Inc.’s milestone projections and targets; (f) Decklar Resources Inc.’s expectations regarding receipt of approval for regulatory applications; (g) Decklar Resources Inc.’s intentions to expand into other jurisdictions including the timeline expectations relating to those expansion plans; and (h) Decklar Resources Inc.’s expectations with regarding its ability to deliver shareholder value. Forward-looking statements are not a guarantee of future performance and are based upon a number of estimates and assumptions of management in light of management’s experience and perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances, as of the date of this document including, without limitation, assumptions about: (a) the ability to raise any necessary additional capital on reasonable terms to execute Decklar Resources Inc.’s business plan; (b) that general business and economic conditions will not change in a material adverse manner; (c) Decklar Resources Inc.’s ability to procure equipment and operating supplies in sufficient quantities and on a timely basis; (d) Decklar Resources Inc.’s ability to enter into contractual arrangements with additional Pharmacies; (e) the accuracy of budgeted costs and expenditures; (f) Decklar Resources Inc.’s ability to attract and retain skilled personnel; (g) political and regulatory stability; (h) the receipt of governmental, regulatory and third-party approvals, licenses and permits on favorable terms; (i) changes in applicable legislation; (j) stability in financial and capital markets; and (k) expectations regarding the level of disruption to as a result of CV-19. Such forward-looking information involves a variety of known and unknown risks, uncertainties and other factors which may cause the actual plans, intentions, activities, results, performance or achievements of Decklar Resources Inc.’s to be materially different from any future plans, intentions, activities, results, performance or achievements expressed or implied by such forward-looking statements. Such risks include, without limitation: (a) Decklar Resources Inc.’s operations could be adversely affected by possible future government legislation, policies and controls or by changes in applicable laws and regulations; (b) public health crises such as CV-19 may adversely impact Decklar Resources Inc.’s business; (c) the volatility of global capital markets; (d) political instability and changes to the regulations governing Decklar Resources Inc.’s business operations (e) Decklar Resources Inc. may be unable to implement its growth strategy; and (f) increased competition.

Except as required by law, Decklar Resources Inc. undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future event or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events. Neither does Decklar Resources Inc. nor any of its representatives make any representation or warranty, express or implied, as to the accuracy, sufficiency or completeness of the information in this document. Neither Decklar Resources Inc. nor any of its representatives shall have any liability whatsoever, under contract, tort, trust or otherwise, to you or any person resulting from the use of the information in this document by you or any of your representatives or for omissions from the information in this document.

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