WCFN GIVES NOTICE TO OBSIDIAN ENERGY LTD. (NYSEAMERICAN: OBE) (TSX:OBE) - APPLICATION TO EXPAND OPERATIONS ON THEIR TRADITIONAL TERRITORY HAS BEEN REJECTED BY CHIEF AND COUNCIL

CADOTTE LAKE, AB, May 6, 2024 /CNW/ - Woodland Cree First Nation is formally notifying Obsidian Energy Ltd. and their shareholders that the proposed expansion of their drilling operations on their Traditional Territory has been rejected by the WCFN and its Chief and Council.

"WCFN is known across the energy sector as one of the most business-friendly nations in the province and in the country. We support responsible resource development, and enthusiastically partner with companies that are willing to comply with their legal obligations," said Chief Isaac Laboucan-Avirom. "However, the conduct of Obsidian Energy and their staff has been the worst we have ever seen from a company. The business practices and intimidation tactics of their executives has made it impossible for us to allow their expansion to proceed."

"Canada is a signatory to UNDRIP, Treaty 8 and other historical and statutory requirements which guarantee that our Indigenous Rights and title are respected when projects like this are proposed. Obsidian and their CEO Stephen Loukas, being run by people out of Greenwich, Connecticut, does not seem to understand this. We vehemently reject their most recent misleading and dishonest media release. If they want to work in our territory, they're going to have to do that work with respect for the people and the land in which they want to work." said Chief Laboucan-Avirom.

As this is a material development of a publicly traded company, we expect Obsidian Energy Ltd. to notify their shareholders immediately. 

SOURCE Woodland Cree First Nation