BGX.CN · 2024-05-22 12:00:00

BGX Welcomes a New Era for Argentina's Oil Industry

Corporate Updates

BGX WELCOMES A NEW ERA FOR ARGENTINA’S OIL INDUSTRY

The Company Comments on How the New Government Policies Bolster Growth, Innovation and the Stability

required for investment

VANCOUVER, BC - May 22, 2024 – BGX – Black Gold Exploration Corp. (the " Company" or "BGX ") (CSE: BGX), a

leading oil exploration company in Argentina, is pleased to recognize the signiﬁcant changes unfolding in the nation's

economic and regulatory landscape with the incoming government's decision to reduce price controls on the oil

sectori. This monumental shift heralds a new era of opportunity, growth, and sustainable development.

The reduction of price controls is a crucial step forward in aligning Argentina’s oil market with global economic

principles. This policy shift allows for more ﬂexible, market -driven pricing that is essential for the health and

expansion of the oil sector and environmental protection and sustainability. It enables companies like ours to plan

with greater certainty, invest conﬁdently in exploration and production activities.

The new government’s approach promises to invigorate the industry by fostering a more competitive environment

and respect for international rule of law. This is not only beneﬁcial for oil companies but also for the entire Argentine

economy.

“As market constraints loosen, we are well situated to introduce more innovative and eﬃcient exploration and

extraction technologies. These advancements are crucial for minimizing environmental impact, reducing operational

costs, and enhancing safety measures, all while increasing production capacity in the active oil producing region we

are operating, where over 4 billion barrels of oil have been produced to date ”, stated Francisco Gulisano, the Chief

Executive Oﬃcer of BGX.

BGX looks forward to a productive dialogue with all stakeholders, including the government, local communities, and

our industry peers, to ensure that the beneﬁts of these policy changes are realized, for our local stakeholders, and

shareholders.

On behalf of the Company,

Francisco Gulisano

Chief Executive Oﬃcer

About BGX

BGX – Black Gold Exploration Corp. (CSE: BGX) is an oil and gas exploration company dedicated to creating

shareholder value through the acquisition, exploration and development of oil and gas projects. It is currently

developing the El Carmen Project located in the San Jorge Basin in the Chubut Province of Argentina with proximity

to existing and functioning pipelines in a well -established oil production area. For more inform ation visit

https://www.bgxcorp.com

For further information: [email protected] or 236-259-0279

Forward-Looking Statements

The information in this news release includes certain information and statements about management’s view of

future events, expectations, plans, and prospects that constitute forward-looking statements. These statements are

based upon assumptions that are subject to risks and uncertainties. Forward- looking statements in this news release

include, but are not limited to, the impact of any new Argentinean Policies on the Argentinean oil sector,

environmental protection and sustainability, the Company’s operations, including but not limited to introduction

more innovative and eﬃcient exploration and extraction technologies. Although the Company believes that the

expectations reﬂected in forward-looking statements are reasonable, it can give no assurances that the expectations

of any forward-looking statement will prove to be correct. Except as required by law, the Company disclaims any

intention and assumes no obligation to update or revise any forward -looking statements to reﬂect actual results,

whether as a result of new information, future events, changes in assumptions, changes in factors aﬀecting such

forward-looking statements, or otherwise. For a comprehensive overview of all risks that may impact the Company,

please see the Final Long Form Prospectus a copy of which was ﬁled on January 29, 2024 and is available on SEDAR+.

Neither the CSE nor the CSE’s Regulation Services Provider (as that term is deﬁned in the policies of the CSE) accept

responsibility for the accuracy of this release.

i https://www.economicsobservatory.com/what-economic-challenges-does-argentina-face-

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