FOX CREEK ENERGY PROVIDES CORPORATE UPDATE

VANCOUVER, BC, May 14, 2026 /CNW/ - Fox Creek Energy Ltd. (the "Company" or "Fox Creek Energy" or "FCE") is pleased to announce that director Hamid Velji will be taking on the role of Interim Chief Executive Officer, Interim Financial Officer and Corporate Secretary, effective May 14, 2026.

Hamid Velji is an experienced consultant specializing in M&A, business strategy, government relations, and regulatory compliance across the energy, technology, and real estate sectors.  Hamid's leadership and financial management skills make him well-suited for the roles of Interim CEO and CFO and Corporate Secretary. His expertise in navigating complex transactions and regulatory frameworks will serve him in providing strong governance and operational stability during the transition.

The Company also announces that Shams Patel has resigned as Interim Chief Executive Officer, Interim Chief Financial Officer and Corporate Secretary, but will remain as director at this time.

In connection with his appointment as Interim CEO, Interim CFO and Corporate Secretary, Mr. Velji will be acquiring certain common shares in the capital of the Company ("Common Shares") from Mr. Patel in order to allow Mr. Velji to participate in the equity ownership of the Company and to align his interests with that of the Company's shareholders.

Early Warning Disclosure

Pursuant to a share transfer agreement containing standard terms and conditions for a transaction of the nature of the Share Transfer (as defined below) between Mr. Patel and Mr. Velji (the "Purchaser") dated May 14, 2026, Mr. Patel transferred 347,888 common shares (the "Common Shares") at a price of $0.04 to Mr. Velji (the "Share Transfer").

Upon completion of the Share Transfer, Mr. Patel will hold no securities in the Company and Mr. Velji will hold 347,888 Common Shares, representing 40.65% of the issued and outstanding Common Shares. Prior to the Share Transfer, Mr. Velji did not hold any Common Shares.

The Common Shares were obtained by Mr. Velji for investment purposes. In the future, Mr. Velji may, directly or indirectly, acquire additional Common Shares or dispose of such Common Shares subject to a number of factors, including, without limitation, general market and economic conditions and other investment and business opportunities available.

A copy of each the early warning reports filed by Mr. Patel and Mr. Velji will be available on the Company's profile on SEDAR+ (www.sedarplus.ca) and may also be requested by mail at the Corporation's address c/o 210-233 West 1st Street, Vancouver, British Columbia, V7M 1B3, Canada or phone at 825-449-7527.

About Fox Creek Energy

Fox Creek Energy is a reporting issuer actively considering opportunities for strategic business acquisitions, combinations and financing.

On Behalf of the Board of Directors
Shams Patel, c/o 2700 -133 Melville Street Vancouver, BC V6J 4B7
Director

Forward-Looking Statements 

Certain statements included in this announcement, including statements concerning the change in officers, our plans, intentions and ‎expectations, which are not historical in nature are intended to be, and are hereby identified as, ‎‎"forward-looking statements". Forward-looking statements may be identified by words including ‎‎"anticipates", "believes", "intends", "estimates", "expects" and similar expressions, and are based on the ‎Company's current beliefs or assumptions as to the outcome and timing of such future events. The ‎Company cautions readers that forward-looking statements, including without limitation those relating ‎to Consolidation and the Company's ‎future operations and business prospects, are subject to certain risks and uncertainties that could cause ‎actual results to differ materially from those indicated in the forward-looking statements.‎ Investors should not place undue reliance on forward-looking information. The forward-looking information contained herein is made as of the date hereof and is not obligated to update or revise any forward looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws.

SOURCE Fox Creek Energy Ltd.

Hamid Velji, Interim CEO, Interim CFO, Corporate Secretary and Director, c/o 2700-1133 Melville Street, Vancouver, BC V6J 4B7, ‎Telephone: [phone]