WESTGATE ENERGY ANNOUNCES Q4 2025 DRILLING PROGRAM AND PRODUCTION UPDATE

Executive Summary

• Westgate Energy announces a five‑well Q4 2025 follow‑up drilling program on the Beaverdam asset, including three horizontal production wells and two vertical stratigraphic test wells.
• The three new horizontal wells are expected to be on production by ~20 Dec 2025 with peak output within two months; corporate production is forecast >1,000 boe/d after clean‑up in Jan 2026.
• Company engaged Insight Capital Partners (consulting) and ICP Securities (market making) with monthly fees of $3,500 and $7,500 respectively, to support capital‑markets activities.

Key Details

• Drilling Schedule: Commence ~15 Oct 2025; program duration ≈30 days.
• Well Count & Types: 5 wells total – 3 horizontals from a single pad (production), 2 vertical stratigraphic test wells from temporary locations.
• Production Forecast: Horizontal wells on‑line ~20 Dec 2025; peak production anticipated within two months of start‑up. Corporate production target >1,000 boe/d after Jan 2026 clean‑up.
• Recent Summer Program Performance: The three “New Wells” from the summer program are averaging >500 bbl/d over the last seven days, exceeding management expectations.
• Shareholder Update Timeline: Production results of Q4 2025 drilling to be communicated before end of Jan 2026.
• Corporate Presentation: Updated presentation available at www.westgateenergy.ca with current financial and operational outlook.
• Consulting Agreement (Insight Capital Partners): 24‑month term, minimum 4‑month commitment; monthly fee $3,500 + taxes; services include capital‑markets consulting and market information.
• Market Making Agreement (ICP Securities): Initial 4‑month term, auto‑renewal month‑to‑month; monthly fee $7,500 + taxes; services to correct temporary supply/demand imbalances for Westgate shares.
• Termination Rights: Either party may terminate consulting agreement with 30 days’ notice after the minimum term; market making agreement terminates with 30 days’ notice prior to end of any term.

Notable Quotes

(No direct quotes were provided in the release.)