Strathcona Resources Ltd. Confirms Closing of Sale of Montney Business and Provides Update on MEG Strategic Alternatives Process

About this update from Strathcona Resources Ltd.

Strathcona Resources Ltd. Confirms Closing of Sale of Montney Business and Provides Update on MEG Strategic Alternatives Process /* Style Definitions */ span.prnews_span { font-size:8pt; font-family:"Arial"; color:black; } a.prnews_a { color:blue; } li.prnews_li { font-size:8pt; font-family:"Arial"; color:black; } p.prnews_p { font-size:0.62em; font-family:"Arial"; color:black; margin:0in; } .prngen2{ PADDING-RIGHT:0.17em; PADDING-LEFT:0.17em; VERTICAL-ALIGN: TOP; TEXT-ALIGN: LEFT; BORDER-TOP:black 1pt; BORDER-RIGHT:black 1pt; BORDER-BOTTOM:black 1pt; BORDER-LEFT:black 1pt } .prngen4{ PADDING-RIGHT:0.33em; PADDING-LEFT:0.17em; VERTICAL-ALIGN: TOP; TEXT-ALIGN: LEFT; BORDER-TOP:black 1pt; BORDER-RIGHT:black 1pt; BORDER-BOTTOM:black 1pt; BORDER-LEFT:black 1pt } .prngen3{ PADDING-RIGHT:0.33em; PADDING-LEFT:0.17em; VERTICAL-ALIGN: TOP; FONT-SIZE: 8PT; FONT-FAMILY: ARIAL; COLOR: BLACK; MARGIN:0em; BORDER-TOP:black 1pt; BORDER-RIGHT:black 1pt; BORDER-BOTTOM:black 1pt; BORDER-LEFT:black 1pt } .prnml4{ MARGIN-TOP:0em; MARGIN-RIGHT:0em; MARGIN-BOTTOM:0em; MARGIN-LEFT:0.33em !IMPORTANT } .prnbcc{ BORDER-COLLAPSE: COLLAPSE } Canada NewsWire CALGARY, AB , July 2, 2025 /CNW/ - Strathcona Resources Ltd. ("Strathcona" or the "Company") (TSX: SCR) is pleased to confirm the closing of its previously announced Montney asset sales, for total value of approximately $2.86 billion including closing adjustments (1) . The sale of its Groundbirch asset closed on June 1, 2025 , and the sale of its Kakwa and Grande Prairie assets closed today. Strathcona is now a pure-play heavy oil company producing approximately 120 Mbbls / d (100% oil) with a 50-year 2P reserves life index and plans to grow to 195 Mbbls / d by 2031. In addition, Strathcona currently has approximately $200 million in positive net cash and marketable securities (2) after deducting all debt, inclusive of approximately 4.6 million shares in Tourmaline Oil Corp. (TSX: TOU) and 23.4 million shares in MEG Energy Corp. (TSX: MEG) ("MEG"). MEG Strategic Alternatives Process Update While Strathcona is pleased that the board of directors of MEG (the "MEG Board") has elected to pursue a strategic alternatives process, it is disappointed that in the nine weeks since Strathcona submitted its original written offer to the MEG Board on April 28, 2025 , the MEG Board has declined to have any dialogue with Strathcona to learn more...

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