Green Flame Hosts Successful Investment Webinar

Exciting Pre-IPO Oil Project Combining Existing Infrastructure, Rapidly Expandable Production Capacity, Deeply Experienced LargeCo Management Team and Local Taxation Benefits

Toronto, Ontario--(Newsfile Corp. - August 10, 2022) - Green Flame Energy ("Green Flame", or "the Company") today reported it held a successful webinar on FLAIA, where management introduced the Company to prospect investors.

The Company

Green Flame is an exciting, Oil project in Trinidad & Tobago, the third most prosperous country in the Americas as measured by GDP per capita. The Company to date has invested around $20 million, resulting in 110 existing wells that are production ready, enabling rapid growth.

The project is located in a region that has fully developed infrastructure for oil & gas operations, including an operational CO2 pipeline (Texaco). Access to low-cost CO2 through the Texaco pipeline will enable the Company to implement enhance oil recovery technologies, enabling further expansion of production capacity, while making operations carbon neutral.

Trinidad & Tobago - Tax Benefits

T&T is the third wealthiest country in the Americas as measured by GDP per capita. Around 40% of the country's economy relies on oil & gas, which has resulted in an exceptionally friendly business climate with tax benefits both for corporates and investors. Consequently its favourable tax regime, operating in T&T creates an environment in which projects have the potential to generate an outsized Return on Investment. The country's stable political climate has a very positive impact on the risk/reward metrics of projects in the region.

Investor Interest - Webinar

The Company is currently raising funds to expand its operations. To this end, management hosted a webinar to inform interested investors on the capabilities, assets and outlook for the Company. Those investors interested in the Company's presentation, a replay of the webinar can be accessed here:

https://flaia.org/events/high-oil-prices-cheap-natural-gas-supply-lng-facility-and-winter-coming

For those interested to invest in green flame Energy, please contact via [email protected] for more information

The webinar was hosted by CEO Dr. David Khan and CTO Steven Byle, both deeply experienced senior executives in the oil & gas sector, both with significant operational, technological and financial know how.

Dr. David Khan

Dr. Khan is an accomplished senior executive with significant experience in the Oil & Gas sector. He was CIO at Valkor energy, as well as founder and principal of the largest heavy oil company in the U.S. Dr. Khan also served as the COO of NASDAQ listed Ivanhoe Energy, Director Technology at Baker Hughes & Haliburton. He holds a PhD in Chemistry from the Ecole Nationale Superior in France.

Steven Byle, CTO

Steven Byle is a seasoned executive and serial entrepreneur who has created, owned and/or operated companies with a combined value exceeding US$2B. He has been a founder and/or executive at a number of start-ups and mid-sized companies, both public and private, that have achieved revenues as high as $500M with over 1500 employees. Steven has broad experience across the energy, technology and industrial construction sectors, and is specialized in applying emerging technologies and innovative business models towards making energy businesses green. He has recently overseen the development of water, waste and emission free oil sands, conversion of heavy sweet oil to biodiesel, and carbon sequestration associated with oil & gas production.

About Green Flame Energy

Green Flame Energy is an oil producer out of Trinidad & Tobago ("T&T"), the 3rd wealthiest country in the Americas as measured by GDP per capita. The Company is developing a property with production ready wells. With significant infrastructure in the area, including access to a pipeline supplying CO2 for enhanced oil recovery, the Company is well positioned to rapidly drive growth towards cash flow positive operations.

For more information

Marc Lakmaaker
[email protected]
T: +1.647.289.6640
www.greenflameoil.com

Forward-Looking Statements

Cautionary Note Regarding Forward-Looking Statements: This release includes certain statements and information that may constitute "forward-looking information" within the meaning of applicable Canadian securities laws. All statements in this news release, other than statements of historical facts, including statements regarding future estimates, plans, objectives, timing, assumptions or expectations of future performance, are forward-looking statements and contain forward-looking information. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as "intends" or "anticipates", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "should", "would" or "occur". Forward-looking statements are based on certain material assumptions and analysis made by the Company and the opinions and estimates of management as of the date of this news release. These forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking statements or forward-looking information. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial out-look that are incorporated by reference herein, except as required by applicable securities laws.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/133376