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TEXEGY Announces Gulf Coast Operating Divesture to Fortify Energy Using Energy Advisors Group

HOUSTON, May 5, 2022 /PRNewswire/— TEXEGY LLC ("TEXEGY"), a Texas-based oil and gas venture, and Chato Energy LLC ("Chato"), an affiliate of Fortify Energy ("Fortify"), today announced the closing of a transaction whereby TEXEGY has sold to Chato all of its leasehold in the South Bearhead Creek ("SBC"), Raccoon Bend and AWP fields, as well as a non-operating interest in the South Burr Ferry field for an undisclosed amount.     Following the transaction, TEXEGY has retained an 18-month exclusive farmout over SBC. The transaction is in line with its strategy to focus on its the upside potential of the undeveloped proven reserves in SBC. TEXEGY Royalty LLC ("TEXEGY Royalty") holds full mineral ownership over approximately 80,000 acres, 50,000 of which are contiguous unleased acres in the Austin Chalk. "We view Chato as a great fit for our divested assets and look forward to partnering with them on the SBC farm-out. Through this transaction, we can sharpen our focus on exploiting our substantial mineral position in Austin Chalk of over 50,000 unleased contiguous acres, utilizing technical studies including fully processed 3D seismic that was shot recently over the entire footprint. Such a unique and a serious position in the Austin Chalk deserves our full attention," said Sherif Wadood, Co-Founder of TEXEGY group. The TEXEGY assets add meaningful production and cash flow to Fortify's existing portfolio of conventional, low decline assets, while also providing exposure to high quality, low risk recompletion opportunities and additional upside via the South Bearhead Creek farmout agreement." The acquisition of the TEXEGY assets fits well into Fortify's strategy of acquiring low risk producing properties, and their proximity to our existing operations along the Gulf Coast provide the opportunity for further operational efficiencies.  Fortify is creating value via accretive acquisitions, current production optimization and exposure to high-quality, low-risk recompletion opportunities. We look forward to continuing this growth strategy with the acquisition of the TEXEGY assets," said Tony Schnur, CEO of Fortify Energy. AdvisorsEnergy Advisors Group served as exclusive financial advisor to TEXEGY. Energy Advisors Group (EAG) has been a trusted advisor to clients in both the upstream and midstream energy industry for more than 30 years. The firm assists clients with portfolio rationalization and optimization, and offers advice on commercial alternatives and transaction strategy. EAG’s proprietary CRM tools offer extensive market intelligence on past transaction activity, current M&A appetite, and forward plans. Comprised of engineering, geoscience, finance and marketing professionals, EAG does the heavy lifting for clients by efficiently organizing data, carrying out in-depth technical analysis, preparing tailored marketing materials, and leveraging complementary marketing channels to promote a successful sale process. EAG provides sellside, buyside, prospect marketing, and select capital markets services. EAG typically closes 30 to 35 deals per year and has successfully completed over 1,000 transactions since 1989. About TEXEGYTEXEGY was formed in late 2014 and has made a series of acquisitions of leaseholds across Texas and Louisiana. TEXEGY Royalty LLC owns full mineral rights of over 80,000 acres in the Austin Chalk. Additional information about TEXEGY can be found on the website at www.texegy.com. About Chato EnergyChato Energy was formed in 2020 as an affiliated entity of Arena Investors managed by  Fortify Energy.  Fortify is a private oil & gas merchant company acquiring and managing assets across Texas, Louisiana, Utah and Colorado with a focus on low risk producing properties.  Arena Investors, LP is an institutional asset manager founded in partnership with The Westaim Corporation (TSXV: WED).  With $3.4 billion of committed assets under management as of March 1, 2022, and a team of over 100 employees in offices globally, Arena provides creative solutions for those seeking capital in special situations.  

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Rene McKale promoted to Managing Director at Energy Advisors Group

HOUSTON, February 7, 2022: Energy Advisors Group (EAG), a leading energy advisory firm ispleased to announce the promotion of Rene McKale to Managing Director. Rene McKaleoriginally joined EAG in June 2021 as a Director in the Houston office. Mr. McKale is responsible for sourcing and leading the execution of assignments for the firm,utilizing his extensive investment banking experience and strong petroleum engineeringbackground. He has more than 20 years of energy industry experience, and more than 15 yearsof transaction advisory experience in energy investment banking. His successful transactionexperience includes advising on asset and corporate deals, buyside and sellside, conventionaland unconventional, on-and-offshore, domestically and internationally. He developed extensiveUS experience advising on assets onshore in the Eagle Ford, Permian, Mid-Continent, Rockies,Appalachia, and Alaska as well as offshore GOM, supplemented by a broad international body ofwork across Latin America (primarily Argentina, Brazil, and Colombia), West Africa, and SE Asia. Prior to joining EAG, Mr. McKale was with Scotiabank/Scotia Waterous for over 15 years, and leftthe firm as a Director in their energy investment banking team out of Houston, specializing inupstream and midstream oil and gas M&A&D. While there, he closed 50+ transactions worthover $40B in aggregate value. Prior to that, Mr. McKale obtained worldwide oil and gas industryexperience in reservoir engineering, most recently working for Dubai Petroleum Company (thena subsidiary of ConocoPhillips) in the United Arab Emirates. He has also been employed withpetroleum engineering consulting firm Gaffney, Cline & Associates (GCA) in Houston, Texas, andbefore that was with a mid-size independent in Calgary, Canada. “Having worked with Rene at Scotiabank/Scotia-Waterous for more than a decade, I know firsthandthat Rene has the right skills and experience that will be a perfect complement to our growingenergy coverage franchise,” said Adrian Goodisman, Partner at EAG. “Rene’s years of investmentbanking experience and technical expertise will be incredibly beneficial as our upstream oil andgas clients seek advice on how best to optimize their portfolios.” Mr. McKale holds a degree in Petroleum Engineering from the University of Alberta, Canada, andhe completed studies in Renewable Energy Technologies in 2021. He is a member of theAssociation of Professional Engineers and Geoscientists of Alberta (APEGA), and the Society ofPetroleum Engineers (SPE), volunteering for the latter’s Gulf Coast Section BusinessDevelopment Study Group. About Energy Advisors GroupEAG has been a trusted advisor to clients in both the upstream and midstream energy industryfor more than 30 years. The firm assists clients with portfolio rationalization and optimization, andoffers advice on commercial alternatives and transaction strategy. EAG’s proprietary CRM toolsoffer extensive market intelligence on past transaction activity, current M&A appetite, and forwardplans. Comprised of engineering, geoscience, finance and marketing professionals, EAG doesthe heavy lifting for clients by efficiently organizing data, carrying out in-depth technical analysis,preparing tailored marketing materials, and leveraging complementary marketing channels topromote a successful sale process. EAG provides sellside, buyside, prospect marketing, andselect capital markets services. EAG typically closes 30 to 35 deals per year and has successfullycompleted over 1,000 transactions since 1989. For further information, please visit: www.energyadvisorsgroup.com

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Adrian Goodisman joins Energy Advisors Group as a Partner in the firm

HOUSTON, January 25, 2022:  Energy Advisors Group (EAG), a leading energy advisory firm is pleased to announce the appointment of Adrian Goodisman as a Partner in the firm. Adrian originally joined the firm in March 2021 as an Advisory Board Director and has been a key contributor to the firm in several areas, including assisting the firm in expanding its international and cross border business, while also taking on larger domestic mandates.  Goodisman joins EAG with over 30 years of investment banking and technical experience in the Oil & Gas Exploration & Production (E&P) sector.  He previously worked for Moelis & Co, a leading global independent investment bank where he provided financial and strategic advice to upstream oil and gas companies. Prior to Moelis & Co. he was a Managing Director at Scotiabank where he served in a variety of positions including Co-Head U.S. of Scotia Waterous – the firm’s oil and gas investment banking division. Prior to Scotiabank, Mr. Goodisman was a Managing Director and President at Waterous & Co USA, the predecessor to Scotia Waterous, where he was responsible for building out the firm’s US practice. Before Waterous & Co, he was a Senior Vice President at Ziff Energy Group. Mr. Goodisman also gained extensive technical experience earlier in his career serving in a variety of roles and locations at Phillips Petroleum (now ConocoPhillips). “Adrian’s experience building and developing businesses, as well as his deep client relationships particularly in the E&P space, will be a perfect complement to our growing energy coverage franchise,” said Ronyld Wise, Founder of EAG. “Given the improvement in oil and gas prices, we expect to see an increase in M&A activity. In particular, we expect significant acquisition and divestiture activity at the asset level, as companies look to re-balance their portfolio. Adrian’s years of investment banking experience and technical expertise will be incredibly beneficial as our upstream oil and gas clients seek advice on how to adapt to this dynamic.” Goodisman presently serves on the Advisory Board of the Bilateral Chamber (founded as the Bilateral U.S. – Arab Chamber of Commerce), as well as the Advisory Board of Globalturk Capital. Additionally, he is a Partner at Bancroft Guyana Investment Group. Goodisman holds an MS degree in Petroleum Engineering from the University of Texas, and previously served as a Society of Petroleum Engineers (SPE) distinguished lecturer. He is also a registered representative of FINRA, holding Series 24, 7 and 63 licenses. About Energy Advisors Group EAG has been a trusted advisor to clients in both the upstream and midstream energy industry for more than 30 years. The firm assists clients with portfolio rationalization and optimization, and offers advice on commercial alternatives and transaction strategy. EAG’s proprietary CRM tools offer extensive market intelligence on past transaction activity, current M&A appetite, and forward plans. Comprised of engineering, geoscience, finance and marketing professionals, EAG does the heavy lifting for clients by efficiently organizing data, carrying out in-depth technical analysis, preparing tailored marketing materials, and leveraging complementary marketing channels to promote a successful sale process.  EAG provides sellside, buyside, prospect marketing, and select capital markets services. EAG typically closes 30 to 35 deals per year and has successfully completed over 1,000 transactions since 1989.  For further information, please visit: www.energyadvisorsgroup.com

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