Cancambria remits Kiskunhalas fee to Ministry of Energy

Executive Summary

• Cancambria Energy Corp. has completed the financial obligations for the Kiskunhalas Concession Area (KCA) in Hungary by remitting the concession fee to the Hungarian Ministry of Energy, securing the 945.9-square-kilometre asset.
• The company is establishing a wholly owned Hungarian subsidiary, Cancambria Kiskunhalas Koncesszios Ltd., to manage exploration and appraisal work programs for the KCA, which extends into the company's existing flagship asset.
• The company engaged two key technical and strategic advisors, Hugh Grenfal and Christopher Yokoyama, to support long-term goals, and hired Winning Media LLC for investor relations and digital advertising services.

Key Details

• Concession Acquisition:
  • Secured the 945.9-square-kilometre Kiskunhalas Concession Area (KCA).
  • Financial obligations fulfilled via remittance of the concession fee to the Hungarian Ministry of Energy.
  • Acquisition cost described as less than $10 (U.S.) per net acre.
  • Asset includes the company's flagship Kiskunhalas trough, extending southwest into the KCA.
  • Focus areas include unconventional tight-gas-play fairway extension and conventional oil prospectivity, including potential horizontal-well exploration targets.
• Corporate Structure:
  • Establishment of a wholly owned Hungarian subsidiary: Cancambria Kiskunhalas Koncesszios Ltd.
  • Subsidiary responsibilities: Manage, plan, and execute exploration and appraisal work programs in the KCA.
• Advisor Appointments:
  • Hugh Grenfal: Appointed as adviser to the board and chief executive officer. Brings 40 years of experience in European/international resource markets, asset management, and prospect generation. Previously founded Peloton AG Switzerland.
  • Christopher Yokoyama: Appointed as petrophysical technical specialist. Brings 25+ years of experience in exploration, field development, and unconventional resource assessments (BP, Pioneer Natural Resources). Responsibilities include evaluating legacy well/log data and planning geo-operations/data acquisition.
• Service Agreement (Winning Media LLC):
  • Engagement for investor-focused digital advertising services to support OTCQB listing.
  • Fee: One-time payment of $100,000 (U.S.), payable in advance.
  • Term: Three months, commencing July 29, 2025, renewable by mutual agreement and subject to exchange approval.
  • No performance factors or equity compensation (shares/options) included.
  • Winning Media is an unrelated, unaffiliated entity with no interest in the company's securities.

Notable Quotes

• "Our team is excited to begin working this prospective area. We believe in the strong potential of the KCA, both in terms of the extension of our existing unconventional tight-gas-play fairway and additional conventional oil prospectivity (including potential for horizontal-well exploration targets). The company will update the markets as the project further develops." — Dr. Paul Clarke, CEO
• "We are delighted to add proven expertise to the company as we embark on an ambitious evaluation of the Kiskunhalas concession area. Both Hugh and Chris bring a wealth of knowledge to the company, and I am looking forward to working with them as we make progress towards developing the Kiskunhalas project." — Dr. Paul Clarke, CEO