BLUENERGIES ANNOUNCES CEO TRANSITION

BLUENERGIES ANNOUNCES CEO TRANSITION

VANCOUVER, BC, May 8, 2025 /CNW/ - BluEnergies Ltd. (TSXV: BLU) ("Blu" or the "Company"), announces that Mr. Craig Steinke has been appointed Chief Executive Officer ("CEO") and as a director of the Company effective immediately.  Mr. Steinke succeeds Mr. James Deckelman as CEO and director, following Mr. Deckelman's resignation from these roles for personal reasons, which the Company accepted effective today.

The Company would like to thank Mr. Deckelman for his service and contributions to the Company during the previously announced go public transaction with Canadian Global Energy Corp., helping to position the Company for continued success. The Company wishes Mr. Deckelman all the best in his future endeavours.

The Company has full confidence in Mr. Steinke to serve Blu as its CEO and as a director in order to deliver value to its shareholders. Mr. Steinke has a wealth of experience in identifying, successfully developing and financing oil and natural gas exploration and production projects in North America, Africa, Latin America, Europe and Asia, and has successfully held numerous senior executive roles throughout his career.

Leading up to Blu obtaining its ~2.2 million acre reconnaissance licenses in the Harper basin, offshore Liberia, the Company began operations as a private entity in September 2021. Mr. Steinke, together with long-time partners, guided the Company through a thorough, proactive, and technology-driven selection process, privately funding its growth prior to the recent go-public transaction.

The Company is assured that Mr. Steinke's knowledge of its assets and extensive leadership experience in international oil and gas exploration and development will be instrumental in the continued growth and success of the Company.

About BluEnergies Ltd.

BluEnergies Ltd. is Canadian based international oil and gas exploration and development company with a focus on operations in the Harper basin offshore Liberia. For further information on BluEnergies Ltd., please refer to the Company's profile on SEDAR+ (www.sedarplus.ca).

Forward-looking Information

This news release contains "forward-looking statements" and "forward-looking information" (collectively, "forward-looking information") within the meaning of applicable securities laws. Forward-looking information can be identified by words such as: "intend", "believe", "estimate", "expect", "may", "will" and similar references to future periods. Examples of forward-looking information include, among others, the future plans of Blu, the success of Mr. Steinke as CEO and as a director of the Company, and information herein relating to Blu and its business plans. Although Blu believes that, in light of the experience of its officers and directors, current conditions and expected future developments and other factors that have been considered appropriate, the expectations reflected in this forward-looking information are reasonable, undue reliance should not be placed on them because Blu can give no assurance that they will prove to be correct. Readers are cautioned to not place undue reliance on forward-looking information. Actual results and developments may differ materially from those contemplated by this information depending on, among other things, the risk that the future plans of Blu may differ from those that currently are contemplated. Additional risks include those disclosed in the management information circular of Canadian Global Energy Corp., which is available on the Company's profile at SEDAR+ at www.sedarplus.ca. Readers are cautioned not to place undue reliance on forward-looking information. The Company undertakes no obligation to update any of the forward-looking information in this news release, except as otherwise required by law. 

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

SOURCE BluEnergies Ltd.