Hemisphere Energy Recognized As Top 50 TSX Venture Exchange Company

Vancouver, British Columbia, February 21, 2023 – Hemisphere Energy Corporation ("Hemisphere" or the "Company") is pleased to announce that it has been named as one of the top performers on the TSX Venture Exchange ("TSXV") for the second consecutive year.

The 2023 TSXV 50 showcases the top 50 of over 1,700 TSXV issuers across five sectors: energy, mining, clean technology, life sciences, diversified industries, and technology. The ranking is an equal weighting of each company’s performance during 2022 across three key indicators: market capitalization growth, share price appreciation, and trading volume. More details can be found at the following link: www.tsx.com/venture50.

“We take great pride in having earned a 2023 TXSV Venture 50 ranking making this the second consecutive year we are recognized” said Don Simmons, President and Chief Executive Officer of Hemisphere. “It directly reflects the dedication of Hemisphere’s team to grow its operations, maintain a strong balance sheet, and return capital to shareholders.”

About Hemisphere Energy Corporation

Hemisphere is a dividend-paying Canadian oil company focused on maximizing value per share growth with the sustainable development of its high netback, low decline conventional heavy oil assets through polymer flood enhanced recovery methods. Hemisphere trades on the TSX Venture Exchange as a Tier 1 issuer under the symbol "HME" and on the OTCQX Venture Marketplace under the symbol "HMENF".

For further information, please visit the Company’s website at www.hemisphereenergy.ca to view its corporate presentation or contact:

Don Simmons, President & Chief Executive Officer Telephone: (604) 685-9255
Email: info@hemisphereenergy.ca
Website: www.hemisphereenergy.ca

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.