Cancambria Energy Corp Announces Upgraded Resource Evaluation to Include Kiskunhalas Concession Increasing the Contingent Resources to 1.1 Tcf Gas and 116.6 MMbbl Condensate

Executive Summary

• CanCambria released an upgraded independent resource evaluation for the Kiskunhalas tight‑gas project, incorporating the newly acquired 2,000‑acre Kiskunhalas Exploration Concession Area (KCA).
• The 2C “Development Pending” contingent resources increase by 14% to 571.9 Bcf of natural gas and 59.6 MMbbl of condensate, adding an estimated US$200 million to the NPV10 (now ~US$1.762 billion).
• The overall contingent resource base now totals approximately 1.1 Tcf of natural gas and 116.6 MMbbl of condensate, supporting a development plan of 112 wells across two phases.

Key Details

• Land Addition: KCA adds 2,000 acres (≈27% increase) to the resource area; includes 480 net acres and 12 additional wells for the Development Pending sub‑class.
• Contingent Resources – 2C Development Pending:
• 571.9 Bcf natural gas (risked at 80%)
• 59.6 MMbbl condensate/NGLs (net to company)
• Represents a 14% increase over prior estimate.
• NPV10 (Risk‑Adjusted, 80% chance): US$1.762 billion (up ~US$200 million from previous valuation).
• Overall Contingent Resources (All Classes): 1.1 Tcf natural gas and 116.6 MMbbl condensate.
• Development Plan: Total of 112 wells (two phases of 56 wells each); KCA contributes 12 wells spaced at ~40 acres, located ≈1 km from the approved CC‑Ba‑E3 location.
• Unclarified Sub‑class (2C Development Unclarified): Increased by 45% to 544.5 Bcf and 57 MMbbl; further appraisal required, not included in current valuation.
• Technical Basis: Updated report prepared by Chapman Hydrogen & Petroleum Engineering Ltd., utilizing CanCambria’s proprietary 3D seismic program (2023/24) plus licensed seismic volumes from the Hungarian Mining Directorate, including a legacy 2011 survey.
• Ownership Interests: 100% working interest and 98% net revenue interest across both BA‑IX mining license and KCA.

Notable Quotes

“We are very pleased with the additional resource capture and valuation attributed to the KCA… The low‑cost acquisition of the KCA is consistent with our business model and presents the opportunity for near‑term drilling… The scale of the project makes this a very attractive venture with the potential of developing a strategic long life gas field in the heart of Europe.” – Dr. Paul Clarke, CEO & President

All forward‑looking statements are subject to risks and uncertainties; actual results may differ.