Terraoil Brent Ticker Integration
NEWS
Terraoil Announces
Results of Albanian Government Audit

11
April 2022
Zug, Switzerland, April 11, 2022 - Terraoil Swiss AG, an energy company with a strong focus on the Mediterranean is pleased to announce that it has received the final audit report for its activities at the Visoka oil field during 2019 in Albania from the National Agency of Natural Resources ("AKBN") which represents the Government of Albania in its relations with contractors under Production Sharing Agreements.

The audit is conducted each year by the AKBN to confirm the revenue, royalties paid, and the eligibility of expenditures incurred to be utilized by the company for cost recovery purposes from oil sales. The audit confirmed total revenues, net of royalties of USD 3.5 million and total operating and capital costs of USD 5.9 million for 2019. The AKBN determined that USD 132,000 was not eligible for cost recovery.
If you are an Terraoil shareholder and would like additional information, contact Peter Krempin either via email investors@terraoil.swiss or by telephone at +41 71 544 01 20.

About Terraoil Swiss AG
Terraoil is an international energy company with a focus to identify and rapidly advance business opportunities in the upstream oil and gas and renewable energy sectors in the Mediterranean region.
https://terraoil.swiss

Peter Krempin
Chief Executive Officer
Terraoil welcomes the completion of the audit which had been delayed by the AKBN due to the impacts of COVID-19. We expected good results for this audit and are pleased to confirm that only 2.3% of the expenditures incurred were deemed to be ineligible for cost recovery. From inception to the end of 2019, the audits have confirmed total expenditures exceeding USD 91 million and the company has a cost pool net of revenues and royalties totalling USD 54.9 million available to provide a tax shelter for future revenues from oil production. I would like to thank our team for their diligence in conducting operations in accordance with our agreements and the Government of Albania for their continuing cooperation.
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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 is available electronically and free of charge under https://terraoil.swiss/prospectus. The shares described in the prospectus will publicly be 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.