Record annual revenue of US$12.0 million up from US$1.8 million in 2022 Record quarterly revenue of US$4.6 million in Q4 2023 up from US$1.8 million in Q4 2022 The Company achieved a 314% increase in 2P reserves to Company gross 161.6 Bcf up from 39.0 Bcf in 2022 The Company achieved a 551% increase to 3P reserves to Company gross 304.8 Bcf up from 46.9 Bcf in 2022 CALGARY, AB, April 29, 2024 /CNW/ - NG Energy International Corp. ("NGE" or the "Company") (TSXV:GASX) (OTCQX:GASXF) is pleased to announce that it has filed on SEDAR+ its annual audited consolidated financial statements, annual management's discussion and analysis and its certification of annual filings for the fiscal year ended December 31, 2023. The Company has also filed on SEDAR+ its Annual Information Form, dated April 26, 2024, Form 51-101F1 - Statement of Reserves Data and Other Oil and Gas Information, Sproule International Limited's Form 51-101F2 - Report on Reserves Data, Contingent Resources Data and Prospective Resources Data by Independent Qualified Reserves Evaluator or Auditor and the Company's Form 51-101F3 - Report of Management and Directors on Oil and Gas Disclosure for the fiscal year ended December 31, 2023. Highlights – Q4 2023 The Company achieved record quarterly revenue of US$4.6 million versus US$1.8 million in Q4 2022. The Company achieved record average gross production of 10.0 MMcf/d, a 136% increase versus average gross production of 4.2 MMcf/d in Q4 2022. Highlights – Fiscal Year Ended December 31, 2023 The Company achieved record annual revenue of US$12.0 million versus US$1.8 million in the fiscal year ended December 31, 2022. The Company exited the year with average gross production of 15.1 MMcf/d in December 2023 versus 4.9 MMcf/d in December 2022. The Company achieved a 241% increase in Proved (1P) reserves to Company gross 51.7 Bcf versus 21.5 Bcf in the fiscal year ended December 31, 2022. The Company achieved a 314% increase in Proved + Probable (2P) reserves to Company gross 161.6 Bcf versus 39.0 Bcf in the fiscal year ended December 31, 2022. The Company achieved a 551% increase in Proved + Probable + Possible (3P) reserves to Company gross 304.8 Bcf versus 46.9 Bcf in the fiscal year ended December 31, 2022. Highlights – Company Oil and Natural Gas Properties: At the Maria Conchita Block, in fiscal year ended December 31, 2023, the Company drilled, successfully completed and tied-in the Aruchara-3 well allowing the Company to ramp up production to 18.0 MMcf/d in December 2023. The Company expects to maintain gross production levels of approximately 20 MMcf/d throughout 2024. The Company continues its efforts on the re-scoping of the Maria Conchita Block based on the success of the Aruchara-3 well. At the Sinu-9 Block, the Company signed midstream agreements pursuant to which, following the expected completion of construction in Q2 2024, the Company will bring 30 MMcf/d of processing and transportation capacity online with an additional 10 MMcf/d online no later than the end of Q1 2025; however, the Company expects this to occur prior to the end of Q4 2024. With significant operational objectives met in the fiscal year ended December 31, 2023, at both the Maria Conchita Block and the Sinu-9 Block, the Company is well positioned to achieve substantial production growth in 2024. About NG Energy International Corp.   NG Energy International Corp. is a natural gas exploration and production company with operations in Colombia. The Company is on a mission to discover, delineate and develop meaningful natural gas fields in developing countries to support energy transition and economic growth. In Colombia, the Company is executing on this mission with a rapidly growing production base that is being delivered to the premium priced Colombian market. NGE's team has extensive technical expertise and a proven track record of building companies and creating value in South America. For more information, please visit SEDAR+ (www.sedarplus.ca) and the Company's website (www.ngenergyintl.com).