CanCambria Energy Provides Operational Update and Submits Technical Operating Plan for Kiskunhalas Exploration Concession

Executive Summary

• CanCambria announced the commencement of construction for the CC‑Ba‑E‑2 well in the Kiskunhalas tight‑gas field, with conductor pipe installed and a purchase order placed for tubulars.
• The company submitted its Technical Operating Plan (TOP) for the 945.9 km² Kiskunhalas Concession Area, outlining a 2026‑2029 exploration program that includes geological studies, 3D seismic acquisition in 2027, and selection of at least two deep wells for drilling in 2029.
• CanCambria is seeking a strategic partner to fund part of the KCA work program, continuing the financing process initiated with Raiffeisen Bank International AG.

Key Details

• Well Construction Initiation: Olvisz98 installed and cemented a 20‑inch conductor pipe to a depth of 72 m, marking the official start of CC‑Ba‑E‑2 well construction.
• Tubulars Purchase Order: Tenaris Silcotub (Romania) contracted to supply drill casing; delivery expected on or before 30 Jun 2026. A US$100,000 deposit (~7% of invoice) has been paid and fabrication will begin early 2026.
• Pipeline Re‑commissioning: The existing 4‑inch natural gas pipeline linking the field to the Zsana storage facility (operated by MVM Gas Storage Ltd.) is slated for recommissioning in Q1 2026 to provide take‑away capacity for the first well.
• Technical Operating Plan (TOP): Submitted for the 945.9 km² Kiskunhalas Concession Area, confirming commitment to a multi‑year exploration program (2026‑2029).
• 2026 Activities: Geological and geophysical studies integrating historic well/production data; refinement of conventional and unconventional leads from legacy 2D/3D seismic surveys.
• 2027 Activity: Acquisition and processing of 3D seismic over the 213 km² Soltvadkert Trough (Miocene basin) to target tight‑gas prospects.
• 2029 Drilling Targets: Based on 2027 3D seismic results, at least two deep well locations will be selected for potential drilling.
• Field Development Expansion: Integration of a 2,000‑acre “extension area” adds 12 well locations to the existing development plan; two additional resource assessment studies are planned (shallow oil‑prone section and deep tight‑gas fairway).
• Financing Initiative: The company is actively seeking a strategic partner to underwrite part of the KCA work program, leveraging the Raiffeen Bank International AG process announced on 16 Oct 2025.

Notable Quotes

“CanCambria's growth mindset and business model within the KCA provides access to a significant runway of future appraisal and development opportunities… We remain fully committed to addressing Europe's energy challenges and driving forward our operational, technical, and commercial milestones.” – Dr. Paul Clarke, President & CEO