Bonterra Energy Announces Unveiling of New Brand Identity, Website, Corporate Presentation and Participation at Peters & Co. Limited Energy Conference

CALGARY, Sept. 12, 2023 - Bonterra Energy Corp. (TSX: BNE) ("Bonterra" or the "Company") is pleased to announce a corporate branding transformation, including a new visual identity that aligns with our vision for the future, along with a refreshed website and corporate presentation, unveiled in concert with our participation at the Peters & Co. Limited 27^th Annual Energy Conference (the "Conference").

"Today marks an important milestone for Bonterra as we share a bold new look to reflect the Company's revitalized value creation strategy and ongoing evolution as one of Canada's longest standing junior oil and gas companies," said Patrick Oliver, Bonterra's President & Chief Executive Officer. "Since the Bonterra name literally means 'good earth', this vibrant new logo features a globe-like sphere and a subtle nod to the letter 'B', finished with a definitive period confirming that just our name says it all. Our new visual identity provides an enhanced platform for profiling the Company's strategy of focusing on free funds flow generation, balance sheet management, strategic acquisitions and returning to a capital returns model."

At the heart of our rebrand is an energy-inspired and future-forward logo, a renewed website (bonterraenergy.com) and a bolder approach to showcasing the Bonterra opportunity in our corporate presentation. This updated branding signals a new era for the business, as progressive and dynamic elements showcase the Company's strategy, refreshed leadership and positive outlook. Our tagline, "A grounded path forward for Canadian energy" sets us apart from peers and represents Bonterra's innovative approach to providing reliable and responsible energy designed to help meet growing global demand.

We are also pleased to confirm that members of Bonterra's leadership team will be participating at the 27^th Annual Energy Conference hosted by Peters & Co. Limited at the Ritz-Carlton Hotel in Toronto, Ontario from September 12 to 14^th, 2023. In addition to Bonterra's participation in a panel discussion, Mr. Patrick Oliver, President & CEO, and Mr. Brad Curtis, Senior VP, Business Development, will also be hosting one-on-one investor meetings at the conference.

Bonterra Energy Corp. is a conventional oil and gas corporation forging a grounded path forward for Canadian energy. Operations include a large, concentrated land position in Alberta's Pembina Cardium, one of Canada's largest oil plays. Bonterra's liquids-weighted Cardium production supports the Company's return of capital strategy, focused on generating long-term, sustainable growth and value creation for shareholders. An emerging Montney exploration opportunity is expected to provide enhanced optionality and an expanded potential development runway for the future. Our shares are listed on the Toronto Stock Exchange under the symbol "BNE".

Certain statements contained in this release include statements which contain words such as "anticipate", "could", "should", "expect", "seek", "may", "intend", "likely", "will", "believe" and similar expressions, relating to matters that are not historical facts, and such statements of our beliefs, intentions and expectations about development, results and events which will or may occur in the future, constitute "forward-looking information" within the meaning of applicable Canadian securities legislation and are based on certain assumptions and analysis made by us derived from our experience and perceptions. Forward-looking information in this release includes, but is not limited to: expansion and other development trends of the oil and gas industry; business strategy and outlook; and expansion and growth of our business and operations.

All such forward-looking information is based on certain assumptions and analyses made by us in light of our experience and perception of historical trends, current conditions and expected future developments, as well as other factors we believe are appropriate in the circumstances. The risks, uncertainties, and assumptions are difficult to predict and may affect operations, and may include, without limitation: foreign exchange fluctuations; equipment and labour shortages and inflationary costs; general economic conditions; industry conditions; changes in applicable environmental, taxation and other laws and regulations as well as how such laws and regulations are interpreted and enforced; the ability of oil and natural gas companies to raise capital or maintain its syndicated bank facility; the effect of weather conditions on operations and facilities; the existence of operating risks; volatility of oil and natural gas prices; oil and gas product supply and demand; risks inherent in the ability to generate sufficient cash flow from operations to meet current and future obligations; increased competition; stock market volatility; opportunities available to or pursued by us; and other factors, many of which are beyond our control.

The forward-looking information contained herein is expressly qualified by this cautionary statement.

The TSX does not accept responsibility for the accuracy of this release.

SOURCE Bonterra Energy Corp.