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News | June 8, 2021 Independence Energy To Combine With Contango In All-Stock Merger To Create A Premier U.S. Independent Oil And Gas Company Combined Company to Deliver Attractive Risk-Adjusted Returns through Cash Flow Oriented Business Model Projected to be Substantially Accretive to Contango’s Cash Flow Per Share by ~15% in 2021E and ~50% in 2022E1 Meaningful Immediate G&A Synergies with Further Savings Anticipated Companies to Host Joint Conference Call Today at 7:30 a.m. CT / 8:30 a.m. ET Houston, TX And Fort Worth, TX (GLOBE NEWSWIRE) - Independence Energy, LLC (“Independence”) and Contango Oil & Gas Company (NYSE American: MCF) (“Contango” or the “Company”) today announced that they have entered into a definitive agreement to combine in an all-stock transaction. The combination, which was unanimously approved by both companies’ Boards of Directors, will create a premier, diversified and low leverage U.S. independent oil and gas

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