New Era Expressly Denies Any Liability

Company Remains Focused on Advancing New Era's AI Data Center Strategy

MIDLAND, Texas, May 28, 2026 (GLOBE NEWSWIRE) -- New Era Energy & Digital, Inc. (NASDAQ:NUAI) ("New Era" or the "Company"), a developer and operator of next-generation digital infrastructure and integrated power assets, today announced a pending agreement that would lead to the complete dismissal of the Company from the State of New Mexico's lawsuit in the First Judicial District Court for Santa Fe County.

On May 22, 2026, Ron Satija, United States Trustee for the bankruptcy estates of Acacia Resources, LLC and Acacia Operating Company, LLC (the "Trustee"), filed a motion seeking the United States Bankruptcy Court of the Western District of Texas (the "Bankruptcy Court") approval of the Trustee's settlement with the Company and certain related parties (the "New Era Defendants"). The settlement agreement would resolve those claims in the State of New Mexico's lawsuit that are controlled by the Trustee, including those alleging violations of the Uniform Voidable Transactions Act by the Company and its Chief Executive Officer, E. Will Gray II.

Pursuant to the settlement agreement, the New Era defendants would pay $1.0 million to the Trustee within five business days following approval of the agreement by the Bankruptcy Court. Following receipt of the settlement payment, the Trustee would release the New Era Defendants from the trustee-controlled claims and take the actions necessary to dismiss those claims with prejudice. The settlement agreement remains subject to Bankruptcy Court approval and does not constitute an admission of liability or wrongdoing. The New Era Defendants expressly deny liability.

As previously disclosed, the State of New Mexico's lawsuit relates to allegations concerning legacy helium and gas assets and associated environmental obligations. For the sake of clarity, while the settlement will dismiss the State of New Mexico's five claims against the Company, the State continues to maintain three claims against Mr. Gray in his individual capacity, which he intends to continue to fight in court. The motion to approve the settlement agreement is publicly available via PACER.