CanCambria Energy Announces Approval of Technical Operating Plan for Kiskunhalas Concession Area, Advancing Strategic Oil and Gas Development in Hungary

Executive Summary

• Hungarian authorities approved CanCambria’s four‑year Technical Operating Plan (TOP) for the 945 km² Kiskunhalas Concession Area (KCA).
• The TOP commits the company to detailed geological, geophysical and engineering studies in 2026, a 3D seismic acquisition by end‑2027, and drilling of two wells by end‑2029.
• Successful completion of the work program will convert the KCA to a 20‑year production licence, giving CanCambria 100 % working interest in a strategic European gas asset.

Key Details

• Approval: Hungarian hydrocarbon authority approved the TOP, establishing development schedule and commitments for the next four years.
• Project Scope: KCA covers ~945 km² (≈230,000 acres) with 100 % working interest; includes conventional and unconventional gas resources.
• Work Commitments:
• 2026 – detailed geological, geophysical, and engineering studies using legacy 2D/3D seismic and proprietary 3D dataset acquired in 2023.
• Integration of data from >300 legacy oil‑and‑gas wells in the region.
• ≤ 2027 – execution of a 3D seismic acquisition program.
• ≤ 2029 – drilling of two exploratory wells.
• Licensing Trigger: Upon fulfilling the work commitments, KCA automatically converts to a production licence with a 20‑year term.
• Strategic Value: Located in southern Hungary’s Pannonian Basin near existing gas pipelines serving major European markets; favorable tax regime and infrastructure reduce development lead times.
• Contingent Resources: Company previously published contingent resource estimates (NI 51‑101) on September 30 2025; details available on SEDAR+.
• Future Flexibility: Company may accelerate the work program based on investment levels, market conditions, or commodity pricing.

Notable Quotes

“Securing approval of our Technical Operating Plan is an important step in unlocking the strategic value of the KCA,” – Paul Clarke, President and CEO.

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