ARC Energy Fund 7's Holdings in Tamarack Valley Energy Ltd.

CALGARY, AB, Oct. 13, 2022 /CNW/ - In connection with the previously announced acquisition ("Acquisition") of the shares of Deltastream Energy Corporation by Tamarack Valley Energy Ltd. (the "Corporation"), ARC Equity Management (Fund 7) Ltd. (as the general partner of ARC Equity Management (Fund 7) Limited Partnership, the general partner of ARC Energy Fund 7 Canadian Limited Partnership, ARC Energy Fund 7 United States Limited Partnership, ARC Energy Fund 7 International Limited Partnership and ARC Capital 7 Limited Partnership, collectively "ARC Energy Fund 7") of Calgary, Alberta announced that ARC Energy Fund 7 has acquired control and direction over 57,432,927 common shares ("Common Shares") of the Corporation pursuant to such Acquisition, representing approximately 10.3% of the current outstanding Common Shares.  ARC Energy Fund 7, collectively with the limited partnerships comprising ARC Energy Fund 9 ("ARC Energy Fund 9") and ARC Equity Management (Fund 7) Ltd. (both of which also received Common Shares in connection with the Acquisition) now exercise control or direction over an aggregate of 65,350,900 Common Shares, representing approximately 11.7% of the current outstanding Common Shares.  None of ARC Energy Fund 7, ARC Energy Fund 9 or ARC Equity Management (Fund 7) Ltd. (collectively, "ARC") previously owned or exercised control or direction over any other Common Shares.

ARC Energy Fund 7 is a fund specializing in the energy sector, and is part of the ARC Financial group.  ARC holds the Common Shares for investment purposes and may, depending on market and other conditions, acquire additional Common Shares through market transactions, private agreements, treasury issuances, dividend reinvestment programs, exercise of options, convertible securities or otherwise, or may sell all or some of the Common Shares it owns or controls, or may continue to hold the Common Shares.  This press release has been issued in order to comply with applicable securities legislation.

ARC Energy Fund 7 is filing an early warning report advising of these matters.  A copy of such early warning report may be found on the Corporation's profile at www.sedar.com or may be obtained from ARC Energy Fund 7 using the contact information below.

SOURCE ARC Energy Fund 7