SOURCE ROCK ROYALTIES RECOGNIZED AS A TOP 50 TSX VENTURE EXCHANGE COMPANY

/Not for distribution to U.S. news wire services or dissemination in the U.S./

Source Rock Royalties Ltd. ("Source Rock") (TSXV: SRR) (TSXV: SRR.WT), a pure-play oil and gas royalty company with an established portfolio of oil royalties, announces that it has been recognized by the TSX Venture Exchange (the "TSXV") as a 2024 Top 50 company. The TSX Venture 50 showcases the strongest performance on the TSXV over the last year. Comprised of 10 companies from five industry sectors, the ranking is based on market capitalization growth, share price appreciation and trading volume. More details can be found at: www.tsx.comVenture50 .

"We are proud to be named as a top performing TSXV company in the energy sector. Our balanced growth and yield business model allowed us to materially expand and diversify our portfolio of royalty production and lands, while also paying a strong dividend to shareholders, which was increased by 20% in 2023", stated Brad Docherty , President & CEO.

About Source Rock Royalties Ltd.

Source Rock is a pure-play oil and gas royalty company with an existing portfolio of oil royalty interests concentrated in southeast Saskatchewan , central Alberta and west-central Saskatchewan . Source Rock targets a balanced growth and yield business model, using funds from operations to pursue accretive royalty acquisitions and to pay dividends. By leveraging its niche industry relationships, Source Rock identifies and acquires both existing royalty interests and newly created royalties through collaboration with industry partners. Source Rock's strategy is premised on maintaining a low-cost corporate structure and achieving a sustainable and scalable business, measured by growing funds from operations per share and maintaining a strong netback on its royalty production.

Forward-Looking Statements

This news release includes forward-looking statements and forward-looking information within the meaning of Canadian securities laws. Often, but not always, forward-looking information can be identified by the use of words such as "plans", "is expected", "expects", "scheduled", "intends", "contemplates", "anticipates", "believes", "proposes" or variations (including negative and grammatical variations) of such words and phrases, or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Forward-looking statements in this news release include statements regarding Source Rock's dividend strategy and the amount and timing of future dividends (and the sustainability thereof), the potential for future drilling on Source Rock's royalty lands, expectations regarding commodity prices, Source Rock's growth strategy and expectations with respect to future royalty acquisition and partnership opportunities, the ability to complete such acquisitions and establish such partnerships, and the estimated costs for Source Rock to run its business. Such statements and information are based on the current expectations of Source Rock's management and are based on assumptions and subject to risks and uncertainties. Although Source Rock's management believes that the assumptions underlying these statements and information are reasonable, they may prove to be incorrect. The forward-looking events and circumstances discussed in this news release may not occur by certain dates or at all and could differ materially as a result of known and unknown risk factors and uncertainties affecting Source Rock. Although Source Rock has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements and information, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. No forward-looking statement or information can be guaranteed. Except as required by applicable securities laws, forward-looking statements and information speak only as of the date on which they are made and Source Rock undertakes no obligation to publicly update or revise any forward-looking statement or information, whether as a result of new information, future events or otherwise.

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 of this release.

SOURCE Source Rock Royalties Ltd.

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Source Rock Royalties SRR:CC TSXV:SRR Oil and Gas Investing

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SOURCE ROCK ROYALTIES ANNOUNCES Q1 2024 RESULTS INCLUDING RECORD ROYALTY PRODUCTION

/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE U.S./

Source Rock Royalties Ltd. ("Source Rock") (TSXV: SRR), a pure-play oil and gas royalty company with an established portfolio of oil focused royalties, announces results for the three-month period ended March 31, 2024 ("Q1 2024").

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SOURCE ROCK ROYALTIES ANNOUNCES INCREASED MONTHLY DIVIDEND

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Source Rock Royalties Ltd. ("Source Rock") (TSXV: SRR), a pure-play oil and gas royalty company with an established portfolio of oil royalties, announces that its board of directors has declared a monthly dividend of $0.0065 per common share, payable in cash on May 15, 2024 to shareholders of record on April 30, 2024 . This represents an increase of 8% to the monthly dividend. Source Rock has now increased its monthly dividend by 30% since March 2023 .

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SOURCE ROCK ROYALTIES ANNOUNCES RECORD ANNUAL ROYALTY PRODUCTION & REVENUE

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Source Rock Royalties Ltd. ("Source Rock") (TSXV: SRR), a pure-play oil and gas royalty company with an established portfolio of oil royalties, announces unaudited operational and financial highlights for fiscal 2023 and the fourth quarter of 2023 ("Q4 2023"). Annual royalty production and revenue were the highest results in Source Rock's 11-year history.

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SOURCE ROCK ROYALTIES DECLARES MONTHLY DIVIDEND

Not for distribution to U.S. news wire services or dissemination in the U.S.

Source Rock Royalties Ltd. ("Source Rock") (TSXV: SRR ), a pure-play oil and gas royalty company with an established portfolio of oil royalties, announces that its board of directors has declared a monthly dividend of $0.006 per common share, payable in cash on April 15, 2024 to shareholders of record on March 29, 2024 .

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Green Hydrogen Market Projected To Reach $30 Billion By 2030, Growing At 61.1% CAGR From 2023 To 2030

FN Media Group News Commentary - The green hydrogen market is experiencing rapid growth, driven by global efforts to reduce carbon emissions and advancements in electrolysis and renewables. Government support through policies and investments is also boosting growth. Its versatility and scalability make green hydrogen a key player in the transition to sustainable energy. The market is even being propelled by its increasing use in fuel cell electric vehicles (FCEVs) and high-energy-intensive industries like steel and ammonia production, further driving demand and market expansion. A report from MarketsAndMarkets said: "The green hydrogen market was valued at USD 1.1 billion in 2023 and is projected to reach USD $30.6 Billion by 2030, growing at 61.1% CAGR from 2023 to 2030." The report said: "Hydrogen's versatility has expanded beyond its traditional role in fuel cells for electric vehicles, now encompassing the production of alternative fuels like ammonia, methanol, and synthetic liquids. These energy carriers are gaining prominence and are poised to drive future demand. In developing economies, green hydrogen presents a pathway to a low-carbon future, offering a nearly carbon-free fuel option for marine transportation, hydrogen fuel cells in electric vehicles (EVs), and industrial backup power. The diverse array of applications positions the green hydrogen sector as a lucrative venture with significant growth potential. The market for green hydrogen in vehicle fuel cells is rapidly evolving, providing the convenience of fossil fuels without the associated emissions." Active companies in the markets this week include Charbone Hydrogen Corporation (OTCQB: CHHYF) (TSXV: CH), Bloom Energy (NYSE: BE), NANO Nuclear Energy Inc. (NASDAQ: NNE), Plug Power Inc. (NASDAQ: PLUG), FuelCell Energy, Inc . (NASDAQ: FCEL).

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BPH Energy Limited Investor Webinar Presentation

Perth, Australia (ABN Newswire) - BPH Energy Ltd (ASX:BPH) is pleased to announce its participation in the ShareCafe Small Cap "Hidden Gems" Webinar, to be held Friday 21st of June 2024 from 12:30pm AEST.

David Breeze - Executive Director will provide an overview of the Company, BPH is a diversified company holding investments in medical technology and resources. BPH holds a significant interest (36%) in unlisted oil and gas exploration company Advent Energy Ltd.

This webinar can be viewed live via Zoom and will provide viewers the opportunity to hear from, and engage with, a range of ASX-listed leading micro/mid cap companies.

To access further details of the event and to register at no cost, please visit:
https://www.abnnewswire.net/lnk/50L95CS4

A recorded copy of the webinar will be made available following the event

About BPH Energy Limited:

BPH Energy Limited (ASX:BPH) is an Australian Securities Exchange listed company developing biomedical research and technologies within Australian Universities and Hospital Institutes.

The company provides early stage funding, project management and commercialisation strategies for a direct collaboration, a spin out company or to secure a license.

BPH provides funding for commercial strategies for proof of concept, research and product development, whilst the institutional partner provides infrastructure and the core scientific expertise.

BPH currently partners with several academic institutions including The Harry Perkins Institute for Medical Research and Swinburne University of Technology (SUT).

Source:
BPH Energy Limited

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	Three Months Ended March 31,
FINANCIAL ($, except as noted)	2024	2023	Change
Royalty revenue	1,728,050	1,380,251 ⁽¹⁾	25 %
Adjusted EBITDA ⁽²⁾	1,504,104	1,157,520	30 %
Per share (basic)	0.033	0.026	27 %
Funds from operations ⁽²⁾	1,331,106	1,111,471	20 %
Per share (basic)	0.029	0.025	16 %
Total comprehensive income (loss)	217,968	222,235	-2 %
Per share (basic)	0.005	0.005	-
Per share (diluted)	0.005	0.005	-
Dividends declared	814,176	673,450	21 %
Per share	0.018	0.015	20 %
Payout ratio ⁽²⁾	61 %	61 %	-
Cash and cash equivalents	2,445,179	11,372,848	-78 %
Per share (basic)	0.05	0.25	-80 %
Average shares outstanding (basic)	45,231,865	44,896,645	1 %
Shares outstanding (end of period)	45,232,645	44,896,645	1 %
OPERATING
Average daily production (boe/d)	241	180 ⁽³⁾	34 %
Percentage oil & NGLs	95 %	90 %	6 %
Average price realizations ($/boe)	78.78 ⁽⁴⁾	85.16	-7 %
Operating netback ⁽²⁾ ($/boe)	68.58	71.45	-4 %
Corporate netback ⁽²⁾ ($/boe)	60.70	68.61	-12 %

(1)	Source Rock also benefited from $148,281 of sales proceeds from royalty production that occurred after the effective date but prior to the closing date of an acquisition completed in March 2023. These sales proceeds were accounted for as a reduction to the purchase price of the acquisition.
(2)	This is a non-GAAP financial measure or non-GAAP ratio. Refer to the disclosure under the heading "Non-GAAP Financial Measures & Ratios" for more information on each non-GAAP financial measure or ratio.
(3)	Source Rock also benefited from 19 boe/d (100% oil) for Q1 2023, of royalty production that occurred after the effective date but prior to the closing date of an acquisition completed in March 2023.
(4)	Average price realization was lowered by Q1 2024 being the first full quarter of Source Rock owning the heavy oil Clearwater GORR.

	Three Months Ended December 31,			Year Ended December 31,
FINANCIAL ($, except as noted)	2023	2022	Change	2023	2022	Change
Royalty revenue	1,720,264 ⁽¹⁾	1,504,421 ⁽²⁾	14 %	6,646,326 ⁽¹⁾	6,490,519 ⁽²⁾	2 %
Adjusted EBITDA ⁽³⁾	1,525,386	1,399,621	9 %	5,793,204	5,736,622	1 %
Per share (basic)	0.034	0.031	10 %	0.129	0.136	-5 %
Funds from operations ⁽³⁾	1,663,376	1,411,440	18 %	5,653,618	5,128,706	10 %
Per share (basic)	0.037	0.031	19 %	0.126	0.121	4 %
Total comprehensive income (loss)	382,367	559,447	-32 %	1,566,310	2,558,054	-39 %
Per share (basic)	0.008	0.012	-33 %	0.035	0.060	-42 %
Per share (diluted)	0.008	0.012	-33 %	0.034	0.059	-42 %
Dividends declared	812,850	673,450	21 %	2,968,990	2,693,798	10 %
Per share	0.018	0.015	20 %	0.066	0.06	10 %
Payout ratio ⁽³⁾	49 %	48 %	2 %	53 %	53 %	-
Cash and cash equivalents	1,462,040	13,152,502	-89 %	1,462,040	13,152,502	-89 %
Per share (basic)	0.03	0.29	-90 %	0.03	0.29	-90 %
Average shares outstanding (basic)	45,139,091	44,896,645	1 %	45,022,140	42,344,911	6 %
Shares outstanding (end of period)	45,231,645	44,896,645	1 %	45,231,645	44,896,645	1 %
OPERATING
Average daily production (boe/d)	218 ⁽⁴⁾	169 ⁽⁵⁾	29 %	208 ⁽⁴⁾	166 ⁽⁵⁾	25 %
Percentage oil & NGLs	94 %	92 %	2 %	93 %	92 %	1 %
Average price realizations ($/boe)	85.86	96.55	-11 %	87.54	107.28	-18 %
Operating netback ($/boe) ⁽³⁾	76.06	90.02	-16 %	76.30	94.68	-19 %
Corporate netback ($/boe) ⁽³⁾	82.94	90.78	-9 %	74.47	84.65	-12 %

(1)	Source Rock also benefited from $211,892 (Q4 2023) and $373,437 (fiscal 2023) of sales proceeds from royalty production that occurred after the effective date but prior to the closing date of acquisitions. These proceeds were accounted for as a reduction to the purchase price of the acquisitions.
(2)	Source Rock also benefited from $85,268 (Q4 2022) and $25,268 (fiscal 2022) of sales proceeds from royalty production that occurred after the effective date but prior to the closing date of acquisitions. These proceeds were accounted for as a reduction to the purchase price of the acquisitions.
(3)	This is a non-GAAP financial measure or non-GAAP ratio. Refer to the disclosure under the heading "Non-GAAP Financial Measures & Ratios" for more information on each non-GAAP financial measure or ratio.
(4)	Source Rock also benefited from 29 boe/d (100% oil & NGLs) for Q4 2023 and 12 boe/d (100% oil & NGLs) for fiscal 2023, of royalty production that occurred after the effective date but prior to the closing date of acquisitions.
(5)	Source Rock also benefited from 9 boe/d (100% oil & NGLs) for Q4 2022 and 2 boe/d (100% oil & NGLs) for fiscal 2022, of royalty production that occurred after the effective date but prior to the closing date of acquisitions.

Contacts Charbone Hydrogen Corporation

Dave B. Gagnon
Chief Executive Officer and Chairperson of the Board
Charbone Hydrogen Corporation
Telephone:	+1 438 844-7170
Email:	dg@charbone.com

Daniel Charette
Chief Operating Officer
Charbone Hydrogen Corporation
Telephone:	+1 438 800-4946
Email:	dc@charbone.com

Benoit Veilleux
Chief Financial Officer and Corporate Secretary
Charbone Hydrogen Corporation
Telephone:	+1 438 800-4991
Email:	bv@charbone.com

Dave B. G agnon
Chef de la direction et président du conseil d'administration
Corporation Charbone Hydrogène
Téléphone bureau: +1 438 844-7170
Courriel: dg@charbone.com

Daniel Charette
Chef de l'exploitation
Corporation Charbone Hydrogène
Téléphone bureau : +1 438 800-4946
Courriel: dc@charbone.com

Benoit Veilleux
Chef de la direction financière et secrétaire corporatif
Corporation Charbone Hydrogène
Téléphone bureau: +1 438 800-4991
Courriel: bv@charbone.com

SOURCE ROCK ROYALTIES RECOGNIZED AS A TOP 50 TSX VENTURE EXCHANGE COMPANY

Source Rock Royalties Investor Kit

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Overview

Company Highlights

Royalty Assets

1. SE Saskatchewan Light Oil Gross Overriding Royalties

2. Clearwater Heavy Oil Gross Overriding Royalty

3. Hamilton Lake Unit Viking Light Oil Royalty

4. Central Alberta and Saskatchewan Gross Overriding Royalties

Management Team

Brad Docherty – President, Chairman and Chief Executive Officer

Cheryne Lowe – Chief Financial Officer

John Bell – Director

Dean Potter – Director

Gary McMurren – Director

Shaun Thiessen – Director

Scott Rideout – Director

June-Marie Innes – Director

Jordan Kevol – Director

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