Cuda Oil and Gas Inc. released the results of its June 30th, 2021 Oil and Gas Reserves Evaluation ("2021 Mid-Year Reserves Report") for Wyoming and Alberta. Cuda continues to advance its major asset at Barron Flats Shannon Secondary Recovery Unit ("SSRU") in the Powder River Basin of Wyoming. In the 2021 Mid-Year Reserves Report, Ryder Scott has identified increases to the Company's estimated Proven Developed Producing ("PDP") reserves, increasing by 12% as compared to December 31st, 2020. Furthermore, with the improved pricing environment, the net present value at a discount rate of 10% ("NPV10") increased by over 40% compared to the NPV10 at December 31st, 2020. It is important to note that these increases are realized in the absence of any additional drilled or completed wells validating the positive performance of the miscible gas flood project. Cuda emphasizes that oil production continues to increase in wells proximal and adjacent to the injection wells. These results and bookings align the SSRU project to ultimate recovery results of the adjacent analogue field, the Sand Dunes Miscible Gas Flood ("Sand Dunes"). Over its project life, Sand Dunes recovered approximately 50% of the 48 MMbbls of OOIP or 25 MMbbls. For perspective, the Company's SSRU Project was assigned 121 MMbbls of OOIP in the 2021 Mid-Year Reserves Report, volumetrically 60% larger than Sand Dunes. Current simulation modeling by a third-party expert indicates up to 51 MMbbls, based on 100% WI, could ultimately be recovered in a full field development scenario inclusive of future development capital. Proven Developed Producing Reserves ("PDP"): The Company's PDP reserves grew 12% over 2020 reserves to 4,318 Mboe (84% oil and liquids). NPV10 of $58.1 million. Reserve Life Index ("RLI") of 21.4 years, based on Second Quarter 2021 production. Total Proved Reserves ("1P"): The Company's 1P reserves grew by 6% from 2020 reserves, to 7,859 Mboe (89% oil and liquids). NPV10 of $83.1 million. RLI of 37.9 years. Proved plus Probable Reserves: The Company's 2P reserves grew by 1% as compared to 2020 reserves, to 14,530 Mboe (92% oil and liquids). NPV10 of $148.7.2 million. RLI of 71.4 years. Future development costs associated with the 1P and 2P categories are $60.9 million and $103.3 million respectively. Operations highlights as reported at September 1, 2021 by the operator Canadian Overseas Petroleum Limited ("COPL") identified that the Wyoming assets current oil production at August 31, 2021 is 2,720 bbls/d (gross). Furthermore, the assets continue to perform significantly ahead of expectation, oil production at SSRU is increasing weekly and will continue to increase due to strong gas injection response and enhanced surface well site production facilities.