CanCambria Energy Announces Addition of Shallow High-Impact Exploration Trend Within the Kiskunhalas Concession Area, Southern Hungary

Executive Summary

• CanCambria identified a shallow 350 km² high‑impact exploration trend in the Kiskunhalas Concession Area (KCA), southern Hungary, adding a new near‑term oil‑weighted play to its portfolio.
• The company will retain MS Energy Solutions Ltd. to complete a desktop study of ~500 km of legacy 2D seismic and is planning a proprietary 3D seismic acquisition program to delineate prospects and enable future drilling.
• The KCA hosts historic fields that have produced >160 million BOE; the newly defined shallow fairway could support lower‑cost, faster‑cycle drilling and multiple satellite accumulations.

Key Details

• Trend Area: ~350 km² (86,500 acres) in northern KCA; not yet covered by modern 3D seismic.
• Historical Production: Over 20 legacy oil & gas fields within/adjacent to KCA have collectively produced >160 million BOE.
• Target Intervals: Potential accumulations at ~1,800 m depth in Pannonian, Badenian, Miocene, Cretaceous, Triassic and fractured Precambrian units.
• Consultant Engagement: MS Energy Solutions Ltd. retained to interpret ~500 km of 2D seismic and perform a regional desktop study.
• Planned Work: Proprietary 3D seismic acquisition, processing, interpretation, and integrated geological modeling to define size, geometry, and risk of prospects.
• Future Actions: After seismic data are available, CanCambria intends to drill/test the most prospective shallow targets; timeline to be updated in coming weeks (no capital commitments or deadlines for 2026 under Technical Operating Plan).
• Resource Disclosure Intent: Company expects to file NI 51‑101 qualified person reports once seismic results and prospect definitions are complete.
• Industry Context: Nearby MOL Group’s recent 3D seismic acquisition and a September 2025 press release announcing a 1,000 bbl/d oil discovery underscore regional activity.

Notable Quotes

“While we remain focused on the deep tight gas resource development, we are increasingly encouraged by the shallow fairway now being defined across the northern KCA… These targets could support lower‑cost, faster‑cycle drilling and the potential for multiple satellite accumulations along a broader trend.” – Dr. Paul Clarke, CEO & President

Materiality Assessment: Material – Positive (new exploration target with significant upside potential and planned capital‑intensive seismic program).