Tuktu Resources Ltd. Announces Second Quarter 2025 Results and Operations Update

Executive Summary

• Tuktu Resources reported a strong Q2 2025 performance versus Q2 2024, with petroleum & natural gas sales up 291% to C$2.44 M and operating netback improving to $9.66/boe from a loss of $(3.63)/boe.
• Production increased 55% year‑over‑year to an average 622 boe/d (52% gas, 48% oil); crude oil output rose 593% to 298 bbl/d.
• The company approved an additional C$1.0 M capital budget for the remainder of 2025 focused on its Penny light‑oil asset and a four‑well optimization program.

Key Details

• Financial Highlights (Three‑Month Comparison)
• Petroleum & natural gas sales: C$2,438,608 vs C$623,872 (+291%).
• Adjusted funds flow from operations: –C$81,126 vs –C$1,738,903 (+95%).
• Net loss: –C$71,370 vs –C$992,419 (loss narrowed 93%).
• Total capital expenditures: C$787,477 vs C$1,264,048 (down 38%).
• Operating Highlights
• Average production: 622 boe/d (Q2 2025) vs 402 boe/d (Q2 2024) – up 55%.
• Crude oil rate: 298 bbl/d vs 43 bbl/d (+593%).
• Natural gas rate: 1,943 mcf/d vs 2,156 mcf/d (‑10%).
• Realized sales price: $43.09/boe vs $17.04/boe (+153%).
• Royalties: –C$11.95/boe vs –C$1.39/boe (+760%).
• Operating expenses: –C$20.79/boe vs –C$18.22/boe (+14%).
• Operating Netback

• $9.66/boe in Q2 2025 versus a loss of $(3.63)/boe in Q2 2024 (increase of 366%).

• Operations Update

• Discovery well in the Alberta Deep Basin producing ~200 bbl/d, cumulative ~97,000 bbl since start‑up (80% working interest).
• Offset horizontal well (drilled Q1 2025) averaging 10 bbl/d; performance attributed to fracture location versus reservoir permeability.

• Company plans to target similar fracture systems in future drilling, leveraging carbonate analog experience.

• Capital Budget

• Board approved incremental C$1.0 M for the remainder of 2025, allocated to the Penny light‑oil asset (four‑well optimization and a well recompletion targeting the Big Valley formation).

Notable Quotes

Tim de Freitas, President & CEO: “Our Q2 results reflect the successful execution of our light‑oil play strategy and the significant upside from our fracture‑driven reservoirs. The incremental capital budget positions us to further unlock value in Southern Alberta.”

All amounts are in Canadian dollars unless otherwise noted.