Cuda Oil and Gas Inc. announced a 100% success rate with the wells drilled to date as part of the Company’s ongoing drilling program at its Shannon Secondary Recovery Unit (“SSRU”) in the Powder River Basin, Wyoming, resulting in higher corporate production. The Company is also pleased to confirm that the reservoir response to the previously announced gas injection in oil producers around the first injection well at SSRU is translating into increased production. Oil production from several wells surrounding the first injector (William Valentine) have increased in response to the injected volumes delivered in 2019. Field estimates for January 2020 continue to confirm this upward trend. The BFU 32-27 V Well increased to 65 bbls/d based on current field estimates, as compared to 44 bbls/d in August 2019, a 48% increase with only a minimal amount of injected volumes. The Company is expecting further increases in production as full commercial injection is implemented in first quarter, 2020 and the flood advances in the reservoir. The Company is very pleased with this initial gas flood response, allowing the operator to accelerate development drilling of the project. Drilling commenced in late September 2019, with 13 wells successfully drilled and completed. Seven (7) wells are now on-stream and have increased current field estimates of production at SSRU to 1,250 bbls/d, 343 bbl/d net to the Company. A total of 41 oil wells, including the eight (8) injector patterns, will be operating by the end of first quarter, 2020. Injection is currently ongoing at higher rates than the predicted reservoir modelling. The improved injectivity could be an indication of better permeability which could lead to oil production response ahead of forecast and acceleration of the predicted recovery cycle of the project.