TERRAOIL SWISS AG: Terraoil Completes IFRS Financial Statements

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Audits of Consolidated Financial Statements Under IFRS Finalized

STEINHAUSEN, SWITZERLAND – EQS Newswire – 2 November 2022 – Terraoil Swiss AG (“Company”), an energy company with a strong focus on the Mediterranean is pleased to announce the completion of the audits of the consolidated financial statements for the years ended December 31, 2020 and 2021.

The financial statements are available on the Company’s website at https://terraoil.swiss/financialreports.

Chief Financial Officer, Bill Cummins commented:

“The completion of the audits was an important step forward for the Company. We believe that the consolidated financial statements are important for the Company and its shareholders. From a business development perspective, they provide relevant information for potential investors, partners and financial institutions.”

If you are an Terraoil shareholder and would like additional information, contact Peter Krempin either via email investors@terraoil.swiss or by telephone at +41 71 544 01 20.

Hashtag: #Terraoil

The issuer is solely responsible for the content of this announcement.

About Terraoil Swiss AG

Terraoil is an international energy company with a focus to identify and advance business opportunities in the upstream oil and gas and renewable energy sectors in the Mediterranean region.

Terraoil forward-looking statements

This media release serves informational purposes and constitutes neither an offer to sell nor a solicitation or an advertisement to buy any shares of Terraoil Swiss AG in any jurisdiction. This media release does not constitute a prospectus within the meaning of Article 35 et seqq. of the Swiss Federal Act on Financial Services. In addition, investors should seek advice from their bank or their financial adviser. This media release and the information contained therein are not being issued for the purpose of selling shares in the United States of America, Australia, Canada, Japan, the United Kingdom, or the European Economic Area and must not be distributed within or to such countries or via publications with a general circulation in such countries.

This media release contains forward-looking statements such as projections, forecasts, and estimates. Such forward-looking statements are subject to certain risks and uncertainties which may cause actual results, performance, or events to differ materially from those anticipated in this media release. Readers should therefore not rely on these forward-looking statements. The forward-looking statements contained in this media release are based on the views and assumptions of Terraoil Swiss AG as of this date and Terraoil Swiss AG does not assume any obligation to update or revise this media release.