Orca Energy Group Inc. Publication of the sustainability report

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TORTOLA, British Virgin Islands, Aug. 31, 2022 (GLOBE NEWSWIRE) — Orca Energy Group Inc. (“orca“or the”Companyand includes its subsidiaries and affiliates) (TSX-V: ORC.A, ORC.B) today announces the publication of its first sustainability report (the “Sustainability report“).

The sustainability report reflects the company’s progress in implementing its sustainability principles and framework, laying the groundwork for a number of future projects. The company’s goal is to create long-term sustainable and accretive value for all our stakeholders, while contributing to Tanzania’s transition away from more carbon-intensive energy sources in the transition to a future low carbon.

Jay Lyons, Chairman and CEO, said:

“This is our first sustainability report and we are proud of the progress we have made in 2021, as well as the reach and impact of our ESG-focused initiatives, which continue with the same momentum in 2022. As a company active in the field of energy, we are intrinsically linked to the energy needs of Tanzania, our main objective being to provide reliable natural gas to support the energy and industrial sectors of the country, while looking for ways to minimize the environmental impact of our operations and maximize our positive contribution to our stakeholders. ”

The full report can be viewed on the Company’s website at www.orcaenergygroup.com.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward-looking information

This press release contains forward-looking statements or information (collectively, “forward-looking statements”) within the meaning of applicable securities laws. All statements, other than statements of historical facts included in this press release, that address activities, events or developments that Orca expects or anticipates in the future, are forward-looking statements. Forward-looking statements often contain words such as may, will, should, anticipate, expect, continue, estimate, believe, project, forecast, plan, intend, target, outlook, focus, might and words similar suggesting future results or statements regarding a outlook. In particular, this press release contains, but is not limited to, forward-looking statements regarding the following: the framework that the sustainability report provides for future plans; the Company’s goal of creating sustainable value for all of its stakeholders while contributing to Tanzania’s transition away from carbon-intensive energy sources; Tanzania’s transition to a low carbon future; the Company’s ESG-focused initiatives; and Orca’s goal of providing reliable natural gas to support Tanzania’s energy and industrial sectors while minimizing its impact on the environment.

These forward-looking statements involve important known and unknown risks and uncertainties, some of which are beyond the Company’s control, and many factors could cause the Company’s actual results to differ materially from those expressed or implied by the statements. forecasts made by the Company. , including, but not limited to: the Company is unable to create sustainable value for stakeholders; the risk that Tanzania will not shift away from more carbon-intensive energy sources; the Company’s ESG-focused initiatives are not as successful as expected; the Company is unable to minimize its environmental impact; the risk that recently enacted legislation will create additional costs and time associated with the Company’s operations in Tanzania; risks related to the uncertainty surrounding the evolution of Tanzanian legislation; the impact of general economic conditions in the regions in which the Company operates; changes in laws and regulations, including the adoption of new environmental laws and regulations, the impact of local content regulations and variations in how they are interpreted and applied; lack of availability of qualified personnel or management; competition for, among other things, capital, oil and gas services and skilled personnel; failure to obtain equipment required for field development; delays in development plans; and obtain required regulatory approvals. In addition, there are risks and uncertainties associated with oil and gas operations, therefore, the actual results, performance or achievements of the Company could differ materially from those expressed or implied by these forward-looking statements and, therefore, no There can be no assurance that any of the events anticipated by these forward-looking statements will occur, or if any of them occur, what benefits the Company will derive therefrom. Readers are cautioned that the above list of factors is not exhaustive.

These forward-looking statements are based on certain assumptions made by the Company in light of its experience and its perception of historical trends, current conditions and expected future developments, as well as other factors that the Company believes are appropriate in the circumstances. including, but not limited to: Tanzania is able to move away from more carbon-intensive energy sources; the Company is able to minimize its environmental impact; the Company’s ESG initiatives continue to bear fruit; the effects of regulation by governmental agencies; current or, if any, proposed industry terms, laws and regulations will remain in effect or as intended; the effect of new regulations relating to the environment and climate change will not have a negative impact on the Company; the Company is able to maintain strong business relationships with the Tanzanian government and other state and parastatal organizations; and other topics.

The forward-looking statements contained in this press release are made as of the date hereof, and the Company undertakes no obligation to publicly update or revise any forward-looking statement or information, whether as a result of new information, future events or otherwise, unless required by applicable securities laws.

For further information please contact:

Jay Lyons
Chief Executive Officer
+44 (0)20 8434 2754
[email protected]

Lisa Mitchell
Chief Financial Officer
+44 (0)20 8434 2754
[email protected]

For media enquiries please contact:

Mark Antelme
Jimmy Lea
+44 (0)20 8434 2754
[email protected]

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Source: Orca Energy Group Inc.

Jacob L. Thornton