EX-99.1 2 obe-ex99_1.htm EX-99.1 EX-99.1

Exhibit 99.1

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Obsidian Energy Announces Voting Results from the 2026 Annual
and Special Meeting of Shareholders

 

 

CALGARY, May 7, 2026 – OBSIDIAN ENERGY LTD. (TSX / NYSE American – OBE) (“Obsidian Energy”, the “Company”, “we”, “us” or “our”) is pleased to announce that at our annual and special meeting of shareholders held on May 7, 2026, Obsidian Energy's shareholders approved all resolutions outlined in the Notice of 2026 Annual and Special Meeting and Management Proxy Circular dated March 15, 2026 (the “Information Circular”), which is available on SEDAR+ at www.sedarplus.ca, on EDGAR at www.sec.gov, and on Obsidian Energy’s website at www.obsidianenergy.com.

 

1.
Appointment of Auditor

 

By resolution passed by show of hands, KPMG LLP, Chartered Accountants, was appointed as auditor of the Company for the ensuing year.

 

2.
Election of Directors

 

By resolutions passed by ballot vote, the following seven nominees proposed by management were elected as directors of the Company to hold office until the next annual meeting of Shareholders or until their successors are elected or appointed:

 

 

Votes For

Percent

Votes Withheld

Percent

Shani Bosman

21,149,944

90.9%

2,121,051

9.1%

John Brydson

21,128,105

90.8%

2,142,890

9.2%

Raymond D. Crossley

22,491,581

96.7%

779,268

3.3%

Michael J. Faust

21,365,319

91.8%

1,905,676

8.2%

Edward H. Kernaghan

21,412,022

92.0%

1,857,853

8.0%

Stephen Loukas

22,643,868

97.3%

626,981

2.7%

Gordon Ritchie

22,724,622

97.7%

546,227

2.3%

 

 

3.
Non-Binding Advisory Vote on the Corporation's Approach to Executive Compensation
 

By resolution passed by ballot vote, the Company’s approach to executive compensation as outlined in the Information Circular was approved. The results of the ballot were as follows:

 

Votes For

Percent

Votes Against

Percent

19,608,843

84.3%

3,662,152

15.7%

 

4.
Approval of Amendments to Stock Option Plan

 

By resolution passed by ballot vote, the Company’s amendments to our stock option plan, as outlined in the Information Circular, was approved. The results of the ballot were as follows:

 

Votes For

Percent

Votes Against

Percent

21,167,239

91.0%

2,103,756

9.0%

 

 

5.
Approval of Unallocated Options Pursuant to the Stock Option Plan


By resolution passed by ballot vote, all unallocated options to acquire common shares under the stock option plan until May 7, 2029, was approved. The results of the ballot were as follows:

 

Votes For

Percent

Votes Against

Percent

21,128,547

90.8%

2,142,448

9.2%

 

6.
Approval of Unallocated Share Unit Awards Issuable under the Award Plan

 

By resolution passed by ballot vote, all unallocated share unit awards under the restricted and performance share unit plan until May 7, 2029, was approved. The results of the ballot were as follows:

 

Votes For

Percent

Votes Against

Percent

21,118,295

90.7%

2,152,700

9.3%

 

 

ABOUT OBSIDIAN ENERGY

 

Obsidian Energy is an intermediate-sized oil and gas producer with a well-balanced portfolio of high-quality assets, primarily in the Peace River, Willesden Green and Viking areas in Alberta. The Company’s business is to explore for, develop and hold interests in oil and natural gas properties and related production infrastructure in the Western Canada Sedimentary Basin.

 

Obsidian Energy is headquartered in Calgary and listed on the Toronto Stock Exchange and NYSE American (TSX / NYSE American: OBE). To learn more, visit Obsidian Energy’s website.

 

contact

OBSIDIAN ENERGY

Suite 200, 207 - 9th Avenue SW, Calgary, Alberta T2P 1K3

Phone: 403-777-2500

Toll Free: 1-866-693-2707

Website: www.obsidianenergy.com;

 

Investor Relations:

Toll Free: 1-888-770-2633

E-mail: investor.relations@obsidianenergy.com

 

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