Calgary, Alberta: September 4, 2019 – Cuda Oil and Gas Inc. (“Cuda” or the “Company”) (TSXV:
CUDA) is pleased to announce that it has closed Asset Purchase Agreements (the “APAs”) to sell all of
its oil and gas assets and related liabilities located in the Province of Quebec (“Quebec”) at a total
transaction value of CAD $10.59 million, including cash consideration at closing of CAD $4.29 million,
to arm’s-length purchasers (the “Transaction”).