Wedgemount Announces Strong Early Production Re-Start Results from Davis Lease Wells

• Wedgemount Resources announced strong early production re-start results from its Davis Lease wells on April 29, 2026.
• Two specific wells restarted after being shut-in due to water disposal issues averaged 40.7 barrels of oil per day (bopd) over an eight-day period.
• The company currently has 17 wells on production across its leases and expects seven additional wells to come online by the end of the current week.
• Management views these rates as a positive indicator of consistent performance following operational disruptions.
• CEO Mark Vanry expressed encouragement regarding the restart results and emphasized focus on executing the operational plan to maximize shareholder value.

• The news confirms the execution of the Production Enhancement Program announced on April 17, 2026, validating management's previous guidance rather than introducing new surprises.
• While positive for cash flow generation, the production rates (40 bopd from two wells) are incremental and do not represent a fundamental shift in valuation compared to the earlier 840 BOE/D test rate reported in March.
• The resolution of water disposal issues removes a key operational bottleneck identified in February 2026 news regarding shutdowns, reducing execution risk for the near term.
• Given the stock price has already rallied from $0.03 to $0.12 following financing and listing announcements earlier in April, this update is largely priced in as routine follow-through on the enhancement strategy.

• Wedgemount Resources Corp. operates in the Permian Basin, specifically west-central Texas (Runnels and Coleman counties).
• The flagship asset base includes 131 vertical production wells and 14 injectors covering over 22,000 acres across four operating areas: Crews, Talpa, Echo Field, and Novice.
• The company focuses on reactivating existing wells through injection well workovers and upgrading gas compression facilities to boost production.
• Management estimates an inventory of over 300 drilling locations based on allowable 40-acre well spacing.