On June 10, 2022, Tamarack Valley Energy Ltd. completed the acquisition of Rolling Hills Energy Ltd., a Clearwater oil producer, for a total consideration that included 9.3 million Tamarack common shares and $46.5 million in cash. This acquisition has allowed Tamarack to gain full control and operatorship of assets in the Southern Clearwater area, which are expected to produce approximately 2,100 barrels per day for the rest of 2022 and generate around $65 million in annualized operating field netback. Following the acquisition, Tamarack announced a 20% increase in its base monthly dividend to $0.01, starting with the June declaration, payable on July 15, 2022. This dividend boost is a reflection of the sustainable free funds flow enhancement from both organic growth and strategic acquisitions, including Crestwynd and Rolling Hills, calculated based on flat oil pricing of US$55 per barrel and $2.50 per GJ AECO. In addition to the successful acquisition, Tamarack's sustainability-linked lending facility has been extended to May 31, 2024, with a slight increase to $650 million on the revolving facility, recognizing the added value from the acquisition. The company also anticipates realizing synergies in gas conservation and infrastructure projects that are already planned, aiming to reduce the greenhouse gas intensity of the acquired assets.