Altai sells 50% interest in Cessford oil wells property

Executive Summary

• Altai Resources Inc. sold its 50% working interest in the Cessford oil wells property in Alberta to Canadian Natural Resources Ltd. (CNRL), the operator and co-owner.
• The transaction was settled via a net liability payment of $50,674, paid through an interbank cash transfer from Altai to CNRL.
• The sale resulted in a net gain of $111,728 (approximately 69%) over the decommissioning liability net of the asset's carrying value as of June 30, 2025.

Key Details

• Asset Sold: 50% working interest in the Cessford oil wells property, comprising four oil wells located in Cessford, Alberta.
• Buyer: Canadian Natural Resources Ltd. (CNRL), who holds the remaining 50% working interest and acts as the operator.
• Consideration: Net liability settlement of $50,674.
• Payment Method: Interbank cash transfer from Altai Resources to CNRL.
• Financial Impact: Net gain of $111,728, representing approximately 69% of the decommissioning liability net of the carrying value of the asset.
• Reference Period: Financial figures compared against the interim consolidated financial statements for the period ended June 30, 2025.