Core Viewpoint - Obsidian Energy has announced a partial redemption of $30 million of its outstanding Senior Unsecured Notes, reflecting a strong balance sheet and liquidity position, which will help reduce future interest expenses [1][2]. Group 1: Redemption Details - The redemption date is set for August 29, 2025, with a redemption price of $1,029.88 per $1,000 principal amount of the redeemed Notes, equating to 102.988 percent of the principal amount, plus accrued interest [2]. - After the redemption, Obsidian Energy will have $80.8 million of Notes outstanding, and the maximum semi-annual free cash flow offer required under the trust indenture will be $17.0 million [2]. Group 2: Company Overview - Obsidian Energy is an intermediate-sized oil and gas producer with a diverse portfolio of high-quality assets, primarily located in Alberta's Peace River, Willesden Green, and Viking areas [5]. - The company focuses on exploring, developing, and holding interests in oil and natural gas properties and related production infrastructure within the Western Canada Sedimentary Basin [5][6].

Obsidian Energy Ltd. Corporate Presentation July 2025 TSX:/NYSE American: OBE O V E R V I E W ADVISORY This presentation should be read in conjunction with the Company's unaudited interim consolidated financial statements and MD&A for the three and six months ended June 30, 2025. All dollar amounts contained in this presentation are expressed in millions of Canadian dollars unless otherwise indicated. Certain financial measures included in this presentation do not have a standardized meaning prescribed by I ...

Throughout this MD&A and in other materials disclosed by the Company, we adhere to generally accepted accounting principles ("GAAP"), however the Company also employs certain non-GAAP measures to analyze financial performance, financial position, and cash flow, including funds flow from operations, netback, sales, gross revenues, net operating costs, net debt and free cash flow. Additionally, other financial measures are also used to analyze performance. These non-GAAP and other financial measures do not ha ...

Industry Overview - The Zacks Oil and Gas - Exploration and Production - Canadian industry is facing challenges due to weaker commodity prices and a stronger Canadian dollar, which are eroding margins and cash flows [1][3] - Dividend growth and share buybacks are becoming unsustainable for many companies under current strip prices, leading to tighter capital spending [1][4] - The long-term impact of electric vehicle (EV) adoption and climate policies is contributing to a cautious outlook for the industry [1][6] LNG Breakthrough - Canada's first shipment of LNG to Asia marks a significant milestone, opening access to premium markets and reducing the natural gas discount [1][5] - The LNG Canada project, valued at $40 billion, is expected to ramp up exports to 14 million tonnes per annum (mtpa) and potentially double output in Phase 2, which will strengthen Canadian natural gas prices [5] Key Companies - **ARC Resources Ltd. (AETUF)**: The largest pure-play Montney operator in Canada, focusing on cost leadership and LNG market opportunities. It aims to triple free funds flow per share by 2028 and has a Zacks Consensus Estimate indicating 11% year-over-year earnings growth for 2025 [22][23] - **Ovintiv Inc. (OVV)**: A leading independent E&P company with a diverse portfolio. It has maintained a disciplined cost reduction approach and benefits from a proactive hedging program, with a trailing four-quarter earnings surprise of approximately 27.8% [27][28] - **Obsidian Energy Ltd. (OBE)**: Focused on oil-weighted assets, aiming to increase production from 34,000 boe/d to 50,000 boe/d by 2026. The company has a Zacks Consensus Estimate indicating 199.5% year-over-year earnings growth for 2025 [31][32] - **InPlay Oil Corp. (IPOOF)**: A junior upstream company with a focus on light oil development, expected to exceed production of 18,750 boe/d in the second half of the year. It prioritizes sustainability and shareholder returns [18][19] Market Performance - The Zacks Oil and Gas - Canadian E&P industry has underperformed compared to the S&P 500 and the broader Zacks Oil – Energy sector, declining 9.4% over the past year [11] - The industry's Zacks Industry Rank is 165, placing it in the bottom 33% of 245 Zacks industries, indicating challenging near-term prospects [7][8] Valuation Metrics - The industry is currently trading at a trailing 12-month EV/EBITDA ratio of 4.76, significantly lower than the S&P 500's 17.98 and slightly below the sector's 4.84 [15]

Core Viewpoint - Obsidian Energy has received a non-binding offer from a third party to acquire its entire common share position in InPlay Oil Corp, which consists of approximately 9,139,784 shares, representing about 32.7% of InPlay's outstanding shares, at a price exceeding the closing price on July 15, 2025 [1][2]. Group 1: Transaction Details - The negotiations regarding the potential acquisition (Disposition Transaction) are ongoing, and Obsidian Energy has agreed to engage exclusively with the third party until August 1, 2025 [1][2]. - The company will not proceed with its previously announced exchange offer to purchase approximately $10 million of its common shares from shareholders in Canada during this exclusivity period [1]. Group 2: Company Overview - Obsidian Energy is an intermediate-sized oil and gas producer with a diverse portfolio of high-quality assets primarily located in Alberta's Peace River, Willesden Green, and Viking areas [4]. - The company focuses on exploring, developing, and holding interests in oil and natural gas properties and related production infrastructure within the Western Canada Sedimentary Basin [4]. Group 3: Market Position - Obsidian Energy is listed on both the Toronto Stock Exchange and NYSE American under the symbol "OBE" [5][13].

Obsidian Energy Announces Second Half 2025 Capital Program and GuidanceJuly 10, 2025 7:00 AM EDT | Source: Obsidian Energy Ltd.Development capital expenditures of $110 to $120 million resulting in 28 net operated wells drilledInfrastructure projects are underway in Open Creek and Nampa fields allowing for future growthIntend to initiate ~$10 million Canadian Exchange Offer to Acquire Obsidian Energy Common Shares for Common Shares of InPlay Oil Corp.Calgary, Alberta--(Newsfile Corp. - July 10, ...

Group 1 - Obsidian Energy has withdrawn its three-year growth plan, which aimed to increase production to 50,000 BOEPD by 2026, due to the sale of its Pembina asset [1] - The divestiture of the Pembina asset was completed on April 7 [1] - The article mentions Aaron Chow, a top-rated analyst with over 15 years of experience, who co-founded a mobile gaming company and has expertise in analytical and modeling skills [1] Group 2 - The investing group Distressed Value Investing focuses on value opportunities and distressed plays, particularly in the energy sector [1]

Core Insights - Obsidian Energy has successfully completed its first half 2025 capital program, achieving a new production high of 14,000 boe/d in the Peace River asset [4][5][6] - The company is focusing on enhanced oil recovery techniques and has initiated a Clearwater waterflood pilot project in the Dawson field, which is expected to increase reservoir recovery [7][8] - The macro-economic environment remains uncertain, prompting the company to adjust its capital allocation decisions for the second half of 2025 [2] Production Highlights - All 30 wells in the first half program were rig released by the end of May 2025, with all development wells now on production [1] - The Dawson Clearwater program has exceeded expectations, with all five waterflood pilot wells online [2] - Initial production rates from the Dawson field have significantly increased from 189 boe/d in Q4 2023 to over 3,000 boe/d in May 2025 [6] Development Program - The development drilling in the established fields of Harmon Valley South and Dawson has yielded strong production results [2][3] - The HVS field has seen successful results from the "waffle well" drilling design, enhancing initial production performance [6] - The company has identified follow-up locations for further drilling based on successful initial production rates from various pads [6] Waterflood Pilot Project - The Clearwater waterflood pilot project aims to test the potential for increased reservoir oil recovery in the Dawson field [7] - Successful execution of this project could lead to broader implementation of enhanced oil recovery techniques across Peace River assets [8] Light Oil Assets - Obsidian Energy participated in five non-operated wells at the Pembina Cardium Unit 11, achieving an average 30-day IP rate of 223 boe/d per well [9] - The wells were initially rate restricted due to gas takeaway capacity, with peak production rates ranging from 335 to 360 boe/d [9] Hedging Update - The company has added new oil and gas contracts to mitigate risks associated with potentially lower commodity prices [10] - Current oil contracts include WTI swaps and collars with varying volumes and prices, aimed at stabilizing revenue [10][12] Upcoming Events - Obsidian Energy will participate in the RBC Global Energy, Power and Infrastructure Conference on June 3-4, 2025, with a presentation by the President and CEO [14]

Exhibit 99.1 CDN.$235,000,000 CREDIT FACILITIES AMENDED AND RESTATED CREDIT AGREEMENT BETWEEN OBSIDIAN ENERGY LTD. as Borrower AND ROYAL BANK OF CANADA, BANK OF MONTREAL, ICBC STANDARD BANK PLC, and such other persons as become parties hereto as lenders, as Lenders AND ROYAL BANK OF CANADA as Agent of the Lenders MADE AS OF APRIL 4, 2025 RBC Capital Markets and Bank of Montreal as Co-Lead Arrangers and Joint Bookrunners v TABLE OF CONTENTS CREDIT AGREEMENT | ARTICLE 1 INTERPRETATION | | 1 | | --- | --- | -- ...

Core Points - Obsidian Energy's shareholders approved all resolutions at the 2025 Annual and Special Meeting held on May 7, 2025 [1] Group 1: Appointment of Auditor - KPMG LLP was appointed as the auditor for the Company for the upcoming year [2] Group 2: Election of Directors - Seven nominees proposed by management were elected as directors, with the following vote percentages: - Shani Bosman: 84.0% votes for [3] - John Brydson: 87.2% votes for [3] - Raymond D. Crossley: 92.4% votes for [3] - Michael J. Faust: 87.9% votes for [3] - Edward H. Kernaghan: 87.6% votes for [3] - Stephen Loukas: 93.6% votes for [3] - Gordon Ritchie: 94.3% votes for [3] Group 3: Executive Compensation Vote - An advisory resolution to approve the Company's approach to executive compensation received 80.2% votes for and 19.8% votes against [4] Group 4: Corporate Presentation and Webcast - The management team provided a corporate update and Q&A session through a live webcast, with the updated corporate presentation available on the Company's website [6]