CALGARY – March 17, 2026 – Cobra Venture Corporation (TSXV:CBV ) (“Cobra”) and Robinson Energy Limited (the “Corporation” or “Robinson”) are pleased to announce that they have entered into a definitive agreement dated March 17, 2026 (the “Agreement”), with respect to the previously announced reverse takeover transaction (the “Transaction”). Pursuant to the Agreement, Robinson and a wholly-owned subsidiary of Cobra (“Cobra Subco”) will amalgamate to become a wholly-owned subsidiary of Cobra, and former shareholders of Robinson will receive common shares in the capital of Cobra (the “Cobra Shares”), resulting in a change of control of Cobra. Immediately prior to the amalgamation, Cobra will change its name to “Robinson Energy Limited” (the “Resulting Issuer”). Immediately after closing of the Transaction, the Resulting Issuer will dispose of the existing oil & gas assets of Cobra in accordance with the terms of the Agreement, and after the amalgamation will continue the business of Robinson. The Transaction is subject to the receipt of all necessary regulatory approvals and shareholder approvals required by applicable corporate law, including the approval of the shareholders of Cobra and Robinson, as well as the satisfaction of the conditions as set out in the Agreement. 

About the Parties 

Cobra is a junior oil and gas company that is focused on the exploration and development of petroleum and natural gas interest in Canada. Cobra is continued under the laws of the Province of British Columbia and is a reporting issuer in British Columbia and Alberta. 

Robinson is a private company incorporated under the laws of the Province of Alberta on March 4, 2022. Robinson was established to acquire and develop strategic Petroleum Licenses in the Western Province of Papua New Guinea. Robinson has been granted its first Petroleum License, PRL 62. Robinson has 6,927,439 Class A Common Shares, 151,515 Preferred Shares Series 3, and 1,165,814 Preferred Shares Series 4 (collectively, the “Robinson Shares”) issued and outstanding.