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Birchcliff Energy Ltd. Releases 2021 ESG Report

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CALGARY, Alberta, May 17, 2022 (GLOBE NEWSWIRE) -- Birchcliff Energy Ltd.
(“Birchcliff” or the “Corporation”) (TSX: BIR) is pleased to announce
the release of its 2021 ESG Report, which details the Corporation’s
environmental, social and governance (“ESG”) activities and performance
metrics for the year ended December 31, 2021.

Birchcliff continues to be a leader in all aspects of its ESG performance and
is committed to the safe and responsible production and delivery of clean,
reliable natural gas and oil. Birchcliff remains steadfast on putting the
environment and the safety of its people and all of its stakeholders at the
forefront of its corporate strategy.

Environment – Low Emissions Intensity Producer

Birchcliff continued to be one of the lowest greenhouse gas (“GHG”)
emitters in Canada’s oil and natural gas industry, with GHG emissions
intensity (Scope 1+2) in 2021 of 0.01353 tonnes of carbon dioxide equivalent
per barrel of oil equivalent (“tCO2e/boe”), which is approximately 38%
lower than its peer group’s average of 0.02193 tCO2e/boe(()(1)()).

Birchcliff has implemented its “LEIP” initiative, meaning Low Emissions
Intensity Producer. The LEIP program reminds Birchcliff, its stakeholders and
others interested in our industry’s emissions reduction initiatives, of
Birchcliff’s commitments and successes as a company to reducing its
environmental impact.

Birchcliff continues to be a leader in emissions reduction initiatives, which
have resulted in notable environmental, operational and financial benefits. By
constructing well sites with zero vented emissions, removing all high bleed
devices, retrofitting pneumatic devices and capturing or destroying vent gas
from compressor seals, Birchcliff is doing its part to help meet Alberta’s
provincial methane emissions reduction commitment while generating emission
offset credits under Alberta’s voluntary Vent Reduction Protocol.

Indigenous Relationships

Trust is the foundation of Birchcliff’s successful relationships with the
Indigenous communities in its operating areas. The Corporation has invested
significant time and resources to build strong, long-lasting partnerships and
believes it has earned the trust of its Indigenous partners through years of
cooperation and interaction. Trust comes from honest, sincere engagement and
consultation.

September 30, 2021 marked the first National Day for Truth and Reconciliation
in Canada. In order to honour the survivors of the residential school system,
Birchcliff commemorated the National Day for Truth and Reconciliation by
inviting Indigenous speaker, Bee Calliou Schadeck, to its Calgary office to
educate its employees about the history of colonialism and residential schools
in Canada, and the impacts they have on Indigenous communities today.
Birchcliff plans to host similar events on an annual basis to commemorate this
important day.

Commitment to Innovation

Birchcliff is proud to be a partner in the NGIF Capital Corporation through
two of its divisions: NGIF Industry Grants and NGIF Cleantech Ventures Equity
Fund, which invest in and support early-stage clean technology companies. NGIF
Industry Grants has approved grant funding to over 65 projects, committing
approximately $17.7 million, and have leveraged federal and provincial grant
funding of over $35 million to help early-stage clean technology companies
develop solutions to reduce emissions, increase energy efficiency and
accelerate the use of natural gas to support environmental goals in Canada.
NGIF Industry Grants anticipates that the technologies supported by these
grants will result in an estimated 7 megatonne reduction in emissions by 2030
as the technologies are commercialized.

Health & Safety

Birchcliff is committed to continually evolving its health and safety program
and instilling a culture of unconditional dedication to safety. In 2021,
Birchcliff received Canada’s Safest Employer Excellence awards presented by
Canadian Occupational Safety magazine in the categories “Best Health, Safety
and Environment Management Program”, “MSA Safety Award for Canada’s
Safest Oil and Gas Employer” and the “WSPS Award for CEO of the Year”.

For more information on Birchcliff’s ESG performance metrics and other
detailed information on Birchcliff’s ESG initiatives, please see the
Corporation’s 2021 ESG Report on its website at www.birchcliffenergy.com.

Forward-Looking Statements and Third-Party Information

Certain statements contained in this press release constitute
forward‐looking statements and forward-looking information (collectively
referred to as “forward‐looking statements”) within the meaning of
applicable Canadian securities laws. The forward-looking statements contained
in this press release relate to future events or Birchcliff’s future plans,
operations, strategy, performance or financial position and are based on
Birchcliff’s current expectations, estimates, projections, beliefs and
assumptions. Such forward-looking statements have been made by Birchcliff in
light of the information available to it at the time the statements were made
and reflect its experience and perception of historical trends. All statements
and information other than historical fact may be forward‐looking
statements. Such forward‐looking statements are often, but not always,
identified by the use of words such as “seek”, “plan”, “focus”,
“future”, “outlook”, “position”, “expect”, “project”,
“intend”, “believe”, “anticipate”, “estimate”, “forecast”,
“guidance”, “potential”, “proposed”, “predict”, “budget”,
“continue”, “targeting”, “may”, “will”, “could”,
“might”, “should”, “would”, “on track” and other similar words
and expressions.

By their nature, forward-looking statements involve known and unknown risks,
uncertainties and other factors that may cause actual results or events to
differ materially from those anticipated in such forward‐looking statements.
Accordingly, readers are cautioned not to place undue reliance on such
forward-looking statements. Although Birchcliff believes that the expectations
reflected in the forward-looking statements are reasonable, there can be no
assurance that such expectations will prove to be correct and Birchcliff makes
no representation that actual results achieved will be the same in whole or in
part as those set out in the forward-looking statements. In particular, this
press release contains forward‐looking statements relating to the following:
the generation of emission offset credits under Alberta’s voluntary Vent
Reduction Protocol; and that the Corporation intends to hold similar employee
education events annually to honour the National Day for Truth and
Reconciliation.

In addition, this press release contains information obtained from third-party
sources, in particular, the statement that NGIF Industry Grants anticipates
that the technologies supported by grants provided by the organization will
result in an estimated 7 megatonne reduction in emissions by 2030 as the
technologies are commercialized. Birchcliff has not independently analyzed or
verified any underlying reports or ascertained the underlying assumptions
relied upon by such third-party. While Birchcliff believes that this statement
is true, there can be no assurance as to the accuracy or completeness thereof
and Birchcliff makes no representations or guarantees as to the accuracy or
completeness of such information.

With respect to the forward‐looking statements contained in this press
release, assumptions have been made regarding, among other things: the degree
to which the Corporation’s operations will be disrupted by circumstances
attributable to the COVID-19 pandemic; the state of the economy, financial
markets and the exploration, development and production business; the
political environment in which Birchcliff operates; the regulatory framework
regarding taxes, environmental, climate change and other laws; the
Corporation’s ability to comply with existing and future environmental,
climate change and other laws; results of operations; Birchcliff’s ability
to continue to develop its assets and obtain the anticipated benefits
therefrom; and the ability to obtain any necessary regulatory or other
approvals in a timely manner.

Birchcliff’s actual results, performance or achievements could differ
materially from those anticipated in the forward-looking statements as a
result of both known and unknown risks and uncertainties including, but not
limited to: the risks posed by pandemics (including COVID-19), epidemics and
global conflict and their impacts on operations; general economic, market and
business conditions which will, among other things, impact the demand for and
market prices of Birchcliff’s products and Birchcliff’s access to capital;
operational risks and liabilities inherent in oil and natural gas operations;
the occurrence of unexpected events such as fires, severe weather, explosions,
blow-outs, equipment failures, transportation incidents and other similar
events; an inability to access or implement some or all of the technology
necessary to operate its assets and achieve expected future results; changes
to the regulatory framework in the locations where the Corporation operates,
including changes to tax laws, Crown royalty rates, environmental laws,
climate change laws, carbon tax regimes, incentive programs and other
regulations that affect the oil and natural gas industry; actions by
government authorities, including those with respect to the COVID-19 pandemic;
an inability of the Corporation to comply with existing and future
environmental, climate change and other laws; the cost of compliance with
current and future environmental laws; political uncertainty and uncertainty
associated with government policy changes; environmental and climate change
risks, claims and liabilities; and the failure to obtain any required
approvals in a timely manner or at all.

Readers are cautioned that the foregoing lists of factors are not exhaustive.
Additional information on these and other risk factors that could affect
results of operations, financial performance or financial results are included
in Birchcliff’s most recent Annual Information Form under the heading
“Risk Factors” and in other reports filed with Canadian securities
regulatory authorities.

Management has included the above summary of assumptions and risks related to
forward-looking statements provided in this press release in order to provide
readers with a more complete perspective on Birchcliff’s future operations
and management’s current expectations relating to Birchcliff’s future
performance. Readers are cautioned that this information may not be
appropriate for other purposes.

The forward-looking statements contained in this press release are expressly
qualified by the foregoing cautionary statements. The forward-looking
statements contained herein are made as of the date of this press release.
Unless required by applicable laws, Birchcliff does not undertake any
obligation to publicly update or revise any forward-looking statements,
whether as a result of new information, future events or otherwise.

About Birchcliff:

Birchcliff is a Calgary, Alberta based intermediate oil and natural gas
company with operations focused on the Montney/Doig Resource Play in Alberta.
Birchcliff’s common shares and Series A and Series C preferred shares are
listed for trading on the Toronto Stock Exchange under the symbols “BIR”,
“BIR.PR.A” and “BIR.PR.C”, respectively.

 For further information, please contact:                                                                                                                                                                                                                                                                                                               
                                                                                                                                                                                                                                                                                                                                                        
 Birchcliff Energy Ltd. Suite 1000, 600 – 3 (rd)Avenue S.W. Calgary, Alberta T2P 0G5 Telephone: (403) 261-6401 Email: info@birchcliffenergy.com www.birchcliffenergy.com      Jeff Tonken – Chief Executive Officer  Chris Carlsen – President and Chief Operating Officer  Bruno Geremia – Executive Vice President and Chief Financial Officer        

(1) Average emissions intensity for Birchcliff’s peer group is calculated
as the simple average of the most recently disclosed Scope 1+2 emissions
intensity data publicly disclosed by those peers. For additional information,
see Birchcliff’s 2021 ESG Report under the heading “2.1 Low Emissions
Intensity Producer”. 

(https://www.globenewswire.com/NewsRoom/AttachmentNg/06500df7-717b-4abd-bae9-7c472190ab87)



GlobeNewswire, Inc. 2022

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