Greenfire resources announces updated reserves, 72% increase in 2p reserves with a $2.7 billion npv10 at and an evaluation that incorporates the company's future growth plans at the hangingstone facilities

Calgary, alberta--(newsfile corp. - december 5, 2024) - greenfire resources ltd. (nyse: gfr) (tsx: gfr) ("greenfire" or the "company"), a calgary-based energy company focused on the production and development of thermal energy resources from the athabasca region of alberta, canada, is pleased to announce a summary of the results from the company's updated independent reserves evaluation, which includes a 72% increase in total proved and probable ("2p") reserves with a net present value after-tax ("npv10 at") of $2.7 billion, or $32.89 per diluted share net of debt.
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