Terraoil Brent Ticker Integration
Terraoil Announces Initial Production Test Results Since Resuming Drilling Operations on Visoka Block
Terraoil Swiss AG, an E&P company with a strong focus on the Mediterranean, is pleased to announce that it has promising initial production test results from its first vertical well drilled since resuming drilling operations in April 2021. The G14-b vertical well in Visoka (100% working interest) targeted the limestone formation. The well was drilled and cased to a depth of 1215 meters and completed with an open hole by drilling out to a total depth of 1265 meters. The results show a 100% oil production with 0% of water cut and strong pressure support from the reservoir with pressure at 141 bar. The well is continuing to be optimized.

Terraoil has produced approximately 1.3 million Barrels of Oil from the Visoka field since 2012. In the business year 2020, after implementation of a cost cutting program, production from the Visoka field was approximately 103,000 Barrels of Oil.

July 2021
We are extremely relieved with this decision as it proves that the communication we have received over the years from various tax authorities and auditors, has been correct and there was no misconduct from the Company's side.

The coronavirus crisis has injected real urgency into our work as management team and the strength of our recovery will depend crucially on how well we can access the investment opportunities and market financing we need. Moreover, the investigation obviously has taken a big toll on our Company and our employees; hence we are most pleased that we can now fully focus on the future to make our business more sustainable, digital, inclusive, and resilient. We also look forward to a final decision of the Albanian courts by year-end so finally paving the way for completion of the PSA's with Albpetrol, taking over the operations of Cakran, Gorisht and Amonice following our successful bid for these oilfields in 2018.

Chief Executive Officer
Peter Krempin
If you are an Terraoil shareholder and would like additional information, please contact
Peter Krempin, CEO
T: +41 71 544 01 20
About Terraoil Swiss AG
Terraoil is an international E&P company with a focus to identify and rapidly advance undeveloped transformational production potential through state-of-the-art technology with comparably low production cost.
Legal Notice
This media release serves informational purposes and constitutes neither an offer to sell nor a solicitation or an advertisement to buy any shares of Terraoil Swiss AG in any jurisdiction. This media release does not constitute a prospectus within the meaning of Article 35 et seqq. of the Swiss Federal Act on Financial Services. Investors should base their decision to purchase shares of Terraoil Swiss AG exclusively on the official prospectus, which can be downloaded from the company's website. The shares described in the prospectus are publicly offered in Switzerland only. In addition, investors should seek advice from their bank or their financial adviser.

This media release and the information contained therein are not being issued in the United States of America, Australia, Canada, Japan, the United Kingdom or the European Economic Area and must not be distributed within or to such countries or via publications with a general circulation in such countries.

This media release contains forward-looking statements such as projections, forecasts, and estimates. Such forward-looking statements are subject to certain risks and uncertainties which may cause actual results, performance, or events to differ materially from those anticipated in this media release. Readers should therefore not rely on these forward-looking statements. The forward-looking statements contained in this media release are based on the views and assumptions of Terraoil Swiss AG as of this date and Terraoil Swiss AG does not assume any obligation to update or revise this media release.