Tenaz Energy Corp. (TSX: TNZ) has acquired 100% of the shares of a private company with upstream and midstream assets in the Netherlands. The deal grants Tenaz control over natural gas production from nine offshore licenses in the Dutch North Sea. These licenses, operated by Neptune Energy, offer an 8.4% average working interest. Additionally, Tenaz now holds interests in five non-producing licenses, including the undeveloped Rembrandt and Vermeer oil discoveries managed by Wintershall Dea BG. The acquisition includes an 11.34% stake in Noordgastransport B.V. (NGT), a significant gas gathering and processing network in the DNS with a reliability record of 99.8% uptime. This asset is projected to generate a stable income stream for Tenaz. In the realm of carbon reduction, Tenaz is part of the L10 Carbon Capture and Storage Project, intending to capture 5 to 8 megatons of CO2e annually for up to 30 years. The Acquisition's financing involved Tenaz assuming future decommissioning liabilities, amounting to $58.9 million (€40.9 million) as of January 31, 2022. This figure will reduce to $16.9 million (€11.8 million) by January 31, 2023, funded through cash and a $25 million credit facility spearheaded by ATB Financial. As a result, Tenaz updates its 2023 guidance, expecting production volumes between 2,200-2,300 boe/d and capital expenditures ranging from $20-24 million. For this acquisition, Tenaz collaborated with ATB Financial, Ernst & Young LLP, Torys LLP, Lawson Lundell LLP, HEUSSEN Advocaten & Notarissen, McDaniel and Associates Consultants Ltd., and Gallagher Energy Risk Services.