Pieridae Energy Provides Wildfire Safety Update & Plans Temporary Shut-In of Uneconomic Production

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CALGARY, Alberta, May 17, 2024 (GLOBE NEWSWIRE) -- Pieridae Energy Limited (“Pieridae” or the “Company”) (TSX: PEA) has recently shut-in approximately 750 boe/d production from its Ekwan field in northeast British Columbia due to wildfires burning in the Fort Nelson and Sierra areas. All personnel have been safely evacuated. Pieridae’s Ekwan gas production flows to a third-party processing facility which was also recently shut-in and evacuated by the facility operator. Ekwan production will remain shut-in until it is safe to restart, and necessary third-party infrastructure is returned to service. The Company is not aware of any damage to Company-owned infrastructure or equipment at this time.

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