Bengal Energy Announces Fiscal 2026 Second Quarter Results

Executive Summary

• Bengal Energy reported a material decline in Q2 FY 2026 oil sales revenue to C$0.9 M (‑24%) and production down 10% to 114 bopd versus the prior year.
• Funds used in operations increased to C$0.4 M, driven by lower revenue and higher operating expenses; net loss widened to C$0.7 M for the quarter.
• The company disclosed operational setbacks—including downtime at four Cuisinier wells and a flooding event in the Cooper Basin—that constrained production and delayed incremental work‑over output.

Key Details

• Oil sales revenue: C$0.9 M (Q2 FY 2026) vs. C$1.3 M (Q2 FY 2025).
• Realized price per barrel: US$68.97 (down 16% from US$82.59 YoY).
• Production: 114 bopd (10,530 bbls) in Q2 FY 2026 vs. 127 bopd (11,670 bbls) in Q2 FY 2025 – a 10% decline.
• Funds used in operations: C$0.4 M (Q2 FY 2026) vs. C$0.3 M (Q2 FY 2025).
• Net loss: C$0.7 M for the quarter, compared with a C$0.6 M loss in the same period last year.
• Operating netback: C$15.10 per barrel (Q2 FY 2026) vs. C$42.84 per barrel (Q2 FY 2025).
• Cash flow from operating activities: (C$520 K) used in Q2 FY 2026 versus (C$129 K) used in Q2 FY 2025.
• Capital expenditures: C$56 K incurred during the quarter.

Operational setbacks * Downtime at four Cuisinier wells persisted until September 2025, reducing production.
* Flooding in the Cooper Basin limited surface operations and delayed anticipated work‑over production gains.

Business development note * Ongoing discussions about potential farm‑out opportunities and other corporate initiatives remain stalled due to weak oil prices and a closed junior equity market.

Notable Quotes

• “The decrease in production was due to the impact of downtime at four Cuisinier wells for which production did not resume until September 2025…the timing and volume of expected incremental production is currently uncertain,” – Management (as stated in release).