Coelacanth Announces Q3 2025 Financial and Operating Results

Executive Summary

• Coelacanth Energy reported a 296% increase in Q3 2025 production to 3,280 boe/d and a 381% rise in oil‑and‑gas sales to C$11.4 M versus Q3 2024.
• The company entered an $80 M credit facility after September 30 2025 to replace prior facilities.
• Net loss narrowed for the nine‑month period (C$8.845 M vs. C$5.994 M in 2024) but remained material; cash flow from operations turned positive in Q3.

Key Details

• Production & Sales
• Q3 2025 oil & condensate: 1,372 bbl/d (↑521%)
• Q3 2025 other NGLs: 92 bbl/d (↑179%)
• Q3 2025 natural gas: 10,896 mcf/d (↑216%)
• Total oil‑equivalent production Q3 2025: 3,280 boe/d vs. 829 boe/d in Q3 2024.

• Oil & gas sales Q3 2025: C$11.372 M vs. C$2.362 M in Q3 2024.

• Financial Performance (Three‑Month Ended Sep 30)

• Cash flow from operating activities: +C$4.712 M (vs. –C$3.730 M prior year).
• Adjusted funds flow (used): C$2.386 M (vs. –C$0.207 M prior year).
• Net loss: C$1.764 M (down 28% YoY).

• Capital expenditures: C$6.104 M (down 61% YoY).

• Financial Performance (Nine‑Month Ended Sep 30)

• Oil & gas sales: C$18.866 M vs. C$9.192 M prior year (+105%).
• Operating netback (non‑GAAP): C$9.070 M vs. C$3.843 M prior year (+136%).

• Net loss: C$8.845 M vs. C$5.994 M prior year (+48%).

• Credit Facility

• New $80 M credit facility signed post‑period to replace existing facilities; terms not disclosed.

• Operating Metrics (per boe)

• Oil & NGLs operating expense: C$7.92/boe (down 21% YoY).
• Net transportation expense: C$3.48/boe (down 11% YoY).

• Operating netback: C$18.72/boe (up 56% YoY).

• Capital Management

• Adjusted working capital deficiency as of Sep 30 2025: –C$46.606 M (worsened from –C$18.637 M at year‑end 2024).

• Operations Update

• Continuing development of the Montney resource base at Two Rivers (150+ contiguous sections).
• Drilling three additional development wells on the 5‑19 pad; production from these and earlier wells expected through early February.
• Future plans include further drilling around the 5‑19 pad and step‑out wells to delineate vertical/horizontal Montney zones.

Notable Quotes

• “We are pleased with the substantial increase in production and sales this quarter, which reflects the successful execution of our development program,” – Robert J. Zakresky, President & CEO.
• “The new credit facility provides us with the financial flexibility needed to continue advancing our Montney growth strategy,” – Nolan Chicoine, VP Finance & CFO.