Buenos Aires, Argentina - Centaurus Energy Inc. (TSXV: CTA) (OTC Pink: CTARF) ('Centaurus' or the 'Company') is pleased to announce its financial and operating results for the six months ended June 30, 2022.

Centaurus' CEO David Tawil commented: 'Since the disposition of working interests in Coiron Amargo Sur Este, the leadership of Centaurus has been able to turn its attention to investing in its conventional oil and gas assets, with an eye toward increasing the value of those assets for the benefit of the Company's stakeholders. The Company looks forward to increasing its conventional output and related revenue, continuing to right-size its cost-structure and restructure liabilities and, with the benefit of the cash-flow from the Coiron Amargo Sur Este recurring royalty revenue, boosting cash flow.'

CONFERENCE CALL

The Company will hold an investor conference call to discuss the Company's operating and financial results on Wednesday, August 31, 2022 at 8:00 a.m. MDT (10:00 a.m. EDT). Analysts and investors are invited to participate using the following dial-in numbers:

Local Dial-in Number: (+1) 416 764 8688

Toll Free Dial-in Number North America: (+1) 888 390 0546

Toll Free Dial-in Number United Kingdom: 0800 652 2435

Toll Free Dial-in Number Argentina: 0800 444 8221

SUMMARY FINANCIAL AND OPERATIONAL RESULTS

Selected information is outlined below and should be read in conjunction with Centaurus' unaudited condensed interim consolidated financial statements for the six months ended June 30, 2022 and the associated management's discussion and analysis ('MD&A'), which are available for review under the Company's profile at www.sedar.com and on the Company's website at www.ctaurus.com. The information has been prepared by management of Centaurus and is unaudited.

About Centaurus Energy

Centaurus is an independent upstream oil and gas company with both conventional and unconventional oil and gas operations in Argentina. The Company's shares trade on the TSX Venture Exchange under the symbol CTA and on the OTC Pink market under the symbol CTARF.

Contact:

David Tawil

Chief Executive Officer

Email: info@ctaurus.com

Forward-Looking Information

The information in this news release contains certain forward-looking statements. These statements relate to future events or our future performance. All statements other than statements of historical fact may be forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as 'seek', 'anticipate', 'plan', 'continue', 'estimate', 'approximate', 'expect', 'may', 'will', 'project', 'predict', 'potential', 'targeting', 'intend', 'could', 'might', 'should', 'believe', 'would' and similar expressions. These statements involve substantial known and unknown risks and uncertainties, certain of which are beyond the Company's control, including: the impact of the COVID-19 pandemic on the Company's business and operations (and the duration of the impacts thereof), the impact of general economic conditions; industry conditions; changes in laws and regulations including the adoption of new environmental laws and regulations and changes in how they are interpreted and enforced; fluctuations in commodity prices and foreign exchange and interest rates; stock market volatility and market valuations; volatility in market prices for oil and natural gas; liabilities inherent in oil and natural gas operations; uncertainties associated with estimating oil and natural gas reserves, changes in income tax laws or changes in tax laws and incentive programs relating to the oil and gas industry; geological, technical, drilling and processing problems and other difficulties in producing petroleum reserves; and obtaining required approvals of regulatory authorities. The Company's actual results, performance or achievement could differ materially from those expressed in, or implied by, such forward-looking statements and, accordingly, no assurances can be given that any of the events anticipated by the forward-looking statements will transpire or occur or, if any of them do, what benefits the Company will derive from them. These statements are subject to certain risks and uncertainties and may be based on assumptions that could cause actual results to differ materially from those anticipated or implied in the forward-looking statements. The forward-looking statements in this news release are expressly qualified in their entirety by this cautionary statement.

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