Blue Sky Global Energy Corp. Announces Acquisition and Sale Agreements

July 2, 2025 — NewsWall — Blue Sky Global Energy Corp. (TSXV: BGE) announced it has signed an agreement to acquire oil and gas assets in British Columbia and Alberta from Blue Sky Resources Ltd. (BSR), a non-arm’s length party. The company also agreed to sell its Belize and Indonesian assets to Kinara Resources Ltd. (KRL), an arm’s length party.

The acquisition includes the remaining 50% working interest in certain oil and gas assets in Northeastern British Columbia, 100% working interest in the Taber Properties near the town of Taber with 51 active wells producing approximately 140 bopd of light oil, 100% working interest in the Columbia Properties east of Edmonton with 43 active wells producing approximately 3 mmcfd plus 80 bopd of liquids, and the remaining 50% working interest in certain heavy oil and gas assets in the Cold Lake area.

The Utikuma Assets in Alberta will no longer be part of the purchase transaction. The total purchase price has decreased from CAD $23,000,000 to CAD $21,000,000, to be paid in cash at closing to BSR, subject to financing and other conditions. BGE expects to complete a debt financing to fulfill the payment. If BGE cannot obtain funding, BSR will provide a Vendor Take Back Loan at Closing for a 2-year term with 10% interest payable per annum.

The sale includes Fire Creek (Barbados) Ltd., which holds the Production Sharing Agreement issued by the Government of Belize, and Blue Sky Paus Ltd., which holds the Production Sharing Contract issued by the Government of Indonesia. KRL will pay BGE CAD $500,000 cash within 90 days after the Closing Date and shall sign a Promissory Note. BGE will retain a 3% Gross Over Riding Royalty on the Belize and Indonesia assets.

The Acquisition is subject to shareholder approval, due diligence, customary representations, warranties, closing conditions, and approval of the TSX Venture Exchange. Trading in the company's shares has been halted pending review and approval of the Acquisition by the TSXV.

Mohammad Fazil
President, Chief Executive Officer, Corporate Secretary and Director
Email: mofazil@gmail.com
Phone Number: +1 (403) 613-7310

Source: Blue Sky Global Energy Corp.