Tuktu Resources Ltd. Announces Corporate and Operations Update

Executive Summary

• Tuktu Resources outlines its 2026 corporate strategy focused exclusively on the Monarch oil play, emphasizing seismic‑driven well targeting, low‑cost workovers, cost reductions and potential divestiture of non‑core assets.
• The company reports that its discovery well (4‑20‑010‑24W4) continues to produce ~78 bbl/d, with cumulative production exceeding 107,000 bbl, while an offset horizontal well (16‑20‑010‑24W4) remains shut‑in indefinitely due to poor zone placement and artificial lift issues.
• Ongoing technical work includes acquisition of 3D seismic, core rock studies, petrophysical analysis and evaluation of additional workover/recompletion candidates to de‑risk the Monarch play.

Key Details

• Strategic Focus: Sole concentration on the Monarch oil play; data‑led approach to improve well accuracy, lower operating costs and unlock production from existing wells.
• Seismic Work: Completion of 2D seismic interpretation; discussions with a third‑party broker to acquire all or part of 3D seismic over Tuktu’s land base.
• Geoscience Activities: Planned core rock studies and petrophysical work to refine geological models for the Banff and Big Valley systems and identify shallower zones.
• Workover & Recompletion Pipeline: Identification of potential candidates for low‑cost workovers/recompletions aimed at de‑risking the play.
• Cost Management: Ongoing reduction of G&A expenses, operating costs and corporate asset retirement obligations (ARO).
• Divestiture Evaluation: Review of non‑core assets for possible sale to strengthen balance sheet and enhance shareholder value.
• Discovery Well Performance (4‑20‑010‑24W4): 80 % working interest; current production ~78 bbl/d; cumulative production >107,000 bbl since first flow over a year ago.
• Offset Horizontal Well Status (16‑20‑010‑24W4): Drilled Q1 2025; shut‑in and expected to remain so indefinitely due to missed target zone, inadequate logging data, ineffective completion and malfunctioning ESP lift system.
• Production Optimization Program: As of November 20 2025, average production stabilized at ~490 boe/d (≈60 % natural gas, 40 % crude oil).
• Banff Porous Play Findings: Horizontal well missed key pay zone; seismic and cut‑tings analysis suggest stratigraphic control that can be mapped with additional 3D data.
• Internal Policy Enhancements: Expansion of EHS, ESG policies and internal controls; emphasis on transparent communication with board and external partners.

Notable Quotes

(No direct quotes were provided in the release.)