TOURMALINE ANNOUNCES CLOSING OF BONAVISTA ACQUISITION

About this update from Tourmaline Oil Corp.

[{"type":"text","content":"\n \n \n \n TOURMALINE ANNOUNCES CLOSING OF BONAVISTA ACQUISITION\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prngen3{\nVERTICAL-ALIGN: TOP; TEXT-ALIGN: LEFT; PADDING-LEFT:0.17em; PADDING-RIGHT:0.17em; BORDER-TOP:black 0pt; BORDER-RIGHT:black 0pt; BORDER-BOTTOM:black 0pt; BORDER-LEFT:black 0pt\n}\n.prngen2{\nVERTICAL-ALIGN: TOP; TEXT-ALIGN: LEFT; PADDING-LEFT:0.17em; PADDING-RIGHT:0.33em; BORDER-BOTTOM:black 0.5pt solid\n}\n.prnml4{\nMARGIN-TOP:0em; MARGIN-BOTTOM:0em; MARGIN-LEFT:0.33em !IMPORTANT\n}\n.prnbcc{\nBORDER-COLLAPSE: COLLAPSE; BORDER-TOP:1pt black; BORDER-RIGHT:1pt black; BORDER-BOTTOM:1pt black; BORDER-LEFT:1pt black\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n CALGARY, AB\n \n \n ,\n \n \n Nov. 17, 2023\n \n \n /CNW/ - Tourmaline Oil Corp. (TSX: TOU) (\"Tourmaline\" or the \"Company\") is pleased to announce the completion of its previously announced acquisition of Bonavista Energy Corporation for\n \n $1.45 billion\n \n , consisting of\n \n $725 million\n \n in Tourmaline common shares and\n \n $725 million\n \n of cash, less\n \n Bonavista's\n \n net debt\n \n (1)\n \n . The Company expects exit 2023 production of over 600,000 boepd, including the acquired\n \n Bonavista\n \n volumes.\n \n \n \n \n \n \n \n \n \n \n Reader Advisories\n \n \n \n \n Currency\n \n \n \n All amounts in this news release are stated in Canadian dollars unless otherwise specified.\n \n \n \n Forward-Looking Information\n \n \n \n This news release contains forward-looking information and statements (collectively, \"forward-looking information\") within the meaning of applicable securities laws. The use of the word \"expects\", and similar expressions is intended to identify forward-looking information. More particularly this news release contains forward-looking information concerning the Company's expected 2023 exit production. This estimate is based on certain key expectations and assumptions made by Tourmaline and is subject to a number of inherent risks and uncertainties, including those outlined in the Company's most recently filed  Management's Discussion a...

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