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WCU 0.010 +0.0% NTH 0.160 −3.0% GGM 0.035 +0.0% FG 0.035 +0.0% EFR 17.83 −4.1% IVN 10.66 −1.1% MASS 0.090 +0.0% LIF 26.69 −1.9% CPAU 0.155 +0.0% PTX 0.105 −4.5% VENT 0.160 +0.0% ANK 0.285 −1.7% ODV 3.36 −0.3% MINK 0.105 +0.0% ZEN 0.690 +7.8% LCE 0.250 +4.2% WCU 0.010 +0.0% NTH 0.160 −3.0% GGM 0.035 +0.0% FG 0.035 +0.0% EFR 17.83 −4.1% IVN 10.66 −1.1% MASS 0.090 +0.0% LIF 26.69 −1.9% CPAU 0.155 +0.0% PTX 0.105 −4.5% VENT 0.160 +0.0% ANK 0.285 −1.7% ODV 3.36 −0.3% MINK 0.105 +0.0% ZEN 0.690 +7.8% LCE 0.250 +4.2%
Production / Operations

Lycos Energy Inc. Announces 2025 Reserves

By The Northwire Desk — AI Analysis Feb 26, 2026 · 19:29 LCX · 1.51 Lycos Energy Inc.
LCX · Price

Executive Summary

  • Lycos Energy released its independent reserves evaluation for year‑end 2025, showing net reserve growth to 8,272 Mboe (TPP) despite asset disposals.
  • The company reported a pre‑tax Net Asset Value of $146 million (TPP) or $2.48 per diluted share, supported by $7.44 million warrant proceeds and modest working capital.
  • Future Development Capital required to bring undeveloped reserves into production totals $76.3 million for TP+P reserves.

Key Details

  • Reserve Growth:
  • Proved Developed Producing (PDP) increased by 204 Mboe.
  • Total Proved (TP) rose to 5,449 Mboe (+353 Mboe).

  • Total Proved + Probable (TPP) reached 8,272 Mboe (+327 Mboe).

  • Reserves Summary (Dec 31 2025 – gross basis):

  • Heavy Oil PDP: 2,481 Mbbl; Gas: 461 MMcf → 2,557 Mboe.
  • Proved Undeveloped: 2,794 Mbbl (all heavy oil).

  • Probable: 2,823 Mboe (including 115 MMcf gas).

  • Net Present Value of Future Net Revenue (NPV10, before taxes):

  • Total Proved: $103.4 million.

  • Total Proved + Probable: $168.5 million.

  • Future Development Capital (FDC) – Undiscounted:

  • Proved reserves: $51.7 million.
  • Proved + Probable reserves: $76.3 million.

  • Annual breakdown 2026‑2029 provided (e.g., $14.9 M in 2026 for proved).

  • Net Asset Value (NAV) Calculation:

  • Reserve value NPV10 (BT): TP $88.95 M, TPP $138.62 M.
  • Adjusted working capital: $9 k.
  • Warrant proceeds: $7.44 M.
  • Total NAV: $96.4 M (TP) / $146.1 M (TPP).
  • Shares outstanding: 53.238 M common, 5.55 M warrants.

  • NAV per diluted share: $1.64 (TP) and $2.48 (TPP).

  • Capital Return to Shareholders (2025): $0.90 per common share returned as capital.

  • Evaluation Methodology: Independent assessment by McDaniel & Associates Consultants Ltd., compliant with NI 51‑101 and COGEH, using average forecast pricing from three firms (McDaniel, GLJ, Sproule).

  • Key Drivers of Reserve Changes (2025 vs 2024):

  • Extensions added 2,009 Mboe.
  • Technical revisions reduced reserves by 1,517 Mboe.
  • Dispositions removed 7,702 Mboe.

  • Production and economic factors contributed modest declines.

  • Management Contacts:

  • Dave Burton – President & CEO ([email protected])
  • Lindsay Goos – VP Finance & CFO ([email protected])

Notable Quotes

“The positive net reserve growth and strong NAV per share underscore the effectiveness of our disciplined capital allocation strategy and position Lycos for continued value creation.” – Dave Burton, President & CEO.

Read the original news release →

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