TOURMALINE PROVIDES WILDFIRE UPDATE

CALGARY, AB, May 8, 2023 /CNW/ - Tourmaline Oil Corp. (TSX: TOU) ("Tourmaline" or the "Company") provides an update on operations impacted by Alberta wildfires.

Tourmaline staff and families have been safely evacuated from certain operated facilities and homes in the greater Edson area. The Company evacuated and shut down nine South and West Deep Basin gas processing facilities between the afternoon of Friday, May 5 and the afternoon of Saturday, May 6 as nearby fires expanded and new wildfires rapidly emerged.

Tourmaline is not aware of any damage to those facilities to date, and access to the sites is currently prohibited.

Tourmaline will quantify the timeline for production resumption at the 9 sites and the total production impact on Q2 in subsequent updates.

Tourmaline is extremely thankful for the efforts of all personnel engaged in fighting these dangerous fires and hopes all remain safe.

ABOUT TOURMALINE OIL CORP.

Tourmaline is Canada's largest and most active natural gas producer dedicated to producing the lowest-emission and lowest-cost natural gas in North America. We are an investment grade exploration and production company providing strong and predictable operating and financial performance through the development of our three core areas in the Western Canadian Sedimentary Basin. With our existing large reserve base, decades-long drilling inventory, relentless focus on execution and cost management, and industry-leading environmental performance, we are excited to provide shareholders an excellent return on capital, and an attractive source of income through our base dividend and surplus free cash flow distribution strategies.

Forward-Looking Information

This news release may contain forward-looking information and statements (collectively, "forward-looking information") within the meaning of applicable securities laws that involve risks, uncertainties and assumptions, including with respect to the potential damage to the Company's facilities and other impacts on operations and production from the Alberta wildfires. The forward-looking information made herein speak only as of the date of this news release and, unless otherwise required by law, Tourmaline does not undertake any obligation to publicly update such forward-looking information to reflect subsequent events or circumstances. Additional information on factors that could affect Tourmaline, or its operations or financial results, are included in Tourmaline's most recently filed Management's Discussion and Analysis (See "Forward-Looking Statements" therein), Annual Information Form (See "Risk Factors" and "Forward-Looking Statements" therein) and other reports on file with applicable securities regulatory authorities and may be accessed through the SEDAR website (www.sedar.com) or Tourmaline's website (www.tourmalineoil.com).

SOURCE Tourmaline Oil Corp.

Tourmaline Oil Corp., Michael Rose, Chairman, President and Chief Executive Officer, [phone] OR; Tourmaline Oil Corp., Brian Robinson, Vice President, Finance and Chief Financial Officer, [phone], [email protected] OR; Tourmaline Oil Corp., Scott Kirker, Chief Legal Officer, [phone]; [email protected] OR; Tourmaline Oil Corp., Jamie Heard, Manager, Capital Markets, [phone]; [email protected] OR; Tourmaline Oil Corp., Suite 2900, 250 - 6th Avenue S.W., Calgary, Alberta T2P 3H7, Phone: [phone]; Facsimile: [phone], E-mail: [email protected], Website: www.tourmalineoil.com