WESTGATE ENERGY ANNOUNCES Q3 2025 FINANCIAL RESULTS

Executive Summary

• Westgate Energy reported Q3 2025 production of 434 boe/d, a 104% increase versus the same period in 2024.
• Total revenue for the nine‑month period rose to C$4.10 million from C$2.32 million year‑over‑year.
• The company extended its convertible debenture to 27 Feb 2026 and recovered a $700,000 deposit from the terminated Moonshine Acquisition.

Key Details

• Production (Q3 2025): 434 boe/d (Oil 297 bbl/d, Gas 790 mcf/d, NGLs 5 bbl/d).
• September average production: 628 boe/d with 79% oil weighting.
• Nine‑month production (ended Sep 30 2025): 316 boe/d vs 195 boe/d in 2024.
• Revenue (nine months): C$4,101,735 vs C$2,324,283 in 2024.
• Operating Income (nine months): C$1,539,003 vs C$1,001,727 in 2024.
• Operating Netback (Q3 2025): $13.57/boe (down from $17.14/boe YoY).
• Realized Prices (Q3 2025): Crude Oil $69.08/bbl, Natural Gas $0.15/mcf, NGLs $57.15/bbl.
• Expenditures: P&E $3.02 M (Q3) vs $3.41 M (Q3 2024); no E&E expenditures this quarter.
• Drilling Update: Three new horizontal Mannville Stack wells at Beaverdam completed downhole; expected on‑production by 15 Dec 2025 with oil rates anticipated 30–40 days after start‑up.
• Financing: Convertible debenture extended to 27 Feb 2026; $700,000 Moonshine Acquisition deposit returned for general corporate use.

Notable Quotes

(No direct quotes were provided in the release.)