TSX: TVE

CALGARY, AB, Dec. 13, 2023 /CNW/ - Tamarack Valley Energy Ltd. ("Tamarack" or the "Company") (TSX: TVE) and 12 First Nation and Métis communities (the "Indigenous Communities") are pleased to announce they have entered into a series of definitive agreements (collectively, the "Agreements") whereby the Indigenous Communities, collectively through a newly formed entity called Wapiscanis Waseskwan Nipiy Holding Limited Partnership ("WWN"), will acquire an 85% non-operated working interest in the newly formed Clearwater Infrastructure Limited Partnership (the "CIP") and Tamarack will transfer $172.0 million of certain Clearwater midstream assets to the CIP for total consideration consisting of $146.2 million in cash and a 15% operated working interest in the CIP (collectively the "Transaction"). The Transaction is expected to close on or about December 15, 2023.