Saba Energy Ltd. Declines Acquisition of Laprise Assets

Calgary, Alberta — August 18, 2026 — Leads & Copy — Saba Energy Ltd. (TSXV: SABA) announced today that it has elected not to proceed with the transfer of the gas producing assets located in Northeast British Columbia, referred to as the Laprise Assets, from Blue Sky Resources (BSR). This decision comes after previously announcing the right to have the assets, which consist of 58 natural gas wells and related interests, transferred back to Saba on an "as is, where is" basis for nominal consideration.

The Company has determined that the security deposit required by the BC Energy Regulator is not acceptable, and therefore, it is not in Saba's best interest to proceed with the acquisition of the Laprise Assets. With this decision, Saba has now satisfied all of the settlement conditions with the Court-appointed Receiver and Manager of BSR.

Saba Energy Ltd. is a publicly traded entity listed on the TSXV under the symbol SABA, with oil and natural gas assets located in Alberta.

Source: Saba Energy Ltd.