WesCan Energy Corp. Provides Operational Update

• WesCan Energy Corp. provided an operational update on April 15, 2026, indicating it is in final stages of selecting a drilling contractor and rig for its upcoming program.
• The company is implementing a collaborative logistics strategy with neighboring operators to share vendors and service providers, aiming to reduce costs and non-productive time.
• Mr. Shubham Garg has resigned from the Board of Directors effective immediately due to personal reasons.
• Confirmation of the rig and spud dates is expected in the near term following these discussions.
• This follows a April 9 announcement regarding the acquisition of 3D seismic data licenses for the Provost asset area, intended to de-risk future drilling.
• The operational update aligns with the February 24 financial results which highlighted record operating cash flow and debt reduction plans.

• The news is classified as Routine - Positive because it confirms progress on a previously announced development trajectory rather than introducing unexpected material value.
• Management had already signaled in the Q3 2026 results (Feb 24) that they were preparing for a 2026 drilling program and evaluating financing; this update validates execution of that plan.
• The cost-reduction strategy via shared logistics is incremental operational efficiency rather than a fundamental shift in asset value or revenue potential.
• Board resignation, while notable, is attributed to personal reasons and does not indicate immediate governance crisis or loss of key technical leadership based on available text.
• No new capital raise was announced in this release; the company continues to rely on surplus cash flow for debt repayment as previously stated.

• Company: WesCan Energy Corp. operates in the Oil & Gas sector, focusing on exploration and production activities.
• Flagship Project: The Provost asset area is the core development focus, having recently achieved economic production with a well entering service in September 2025.
• Production Status: Corporate average production reached ~225 boe/d in Q3 2026, driven by the new high-impact well at Provost.
• Operational Strategy: The company is transitioning from exploration to development, utilizing acquired seismic data and collaborative logistics to optimize drilling efficiency.