Birchcliff Energy Ltd. Announces the Filing of its Audited Financial Statements and Other Disclosure Documents for the Year Ended December 31, 2025 and Provides Operational Update

Executive Summary

• Birchcliff filed its audited FY 2025 financial statements, MD&A, and Annual Information Form, confirming the previously disclosed unaudited results.
• The company reported a successful 2025 year with record average production, reduced indebtedness, and unchanged 2026 guidance; it highlighted a strong flow‑test result from an Elmworth Montney well (14 MMcf/d raw gas).
• Ongoing drilling programs in Pouce Coupe and Gordondale are on schedule for Q2 2026 start‑ups, and the first phase of the proposed Goodfare Gas Plant (100 MMcf/d capacity) is targeted for a final investment decision in late 2026/early 2027.

Key Details

• Annual Filings: Audited FY 2025 financial statements, MD&A, and AIF filed; reserves data compliant with NI 51‑101; filings available on the company website and SEDAR+.
• Financial Highlights (per Feb 11 2026 press release):
• Record annual average production in 2025.
• Significant reduction of indebtedness (exact figures not restated).
• Guidance for 2026 unchanged; capital program remains flexible to commodity price movements.
• Elmworth Flow Test (Feb 2026):
• Stabilized raw natural‑gas rate: 14 MMcf/d (10 MPa casing pressure) on final day of a 5.5‑day test.
• One‑day stabilized averages:
  • Total production: 2,402 boe/d
  • Natural gas: 14,362 Mcf/d
  • Condensate: 8 bbls/d
• Well Status – Elmworth: Horizontal Montney land‑retention well completed; not slated for tie‑in at this time.
• Goodfare Gas Plant (Elmworth):
• Phase 1 design capacity: 100 MMcf/d with optional expansion in later phases.
• Target FID: late 2026 – early 2027.
• Drilling Schedule – Pouce Coupe:
• Completed 4‑well, 13‑21 pad (Feb 2026); production expected late Mar/early Apr 2026.
• Currently drilling 6‑well, 04‑05 pad; completions slated for Q2 2026.
• Drilling Schedule – Gordondale: Preparing 3‑well, 05‑34 pad; completions scheduled for Q2 2026, production expected late Q2 2026.
• Market Positioning: 54 % of 2026 natural‑gas production anticipated to be sold in NYMEX HH and Dawn markets; company remains fully unhedged on gas, oil, and NGLs.

Notable Quotes

“2025 was a very successful year for Birchcliff… achieving record annual average production, while we significantly reduced our indebtedness.” – Chris Carlsen, President & CEO
“The positive Elmworth flow‑test result supports the long‑term potential of this large Montney land position and reinforces Elmworth as an important future growth opportunity.” – Chris Carlsen

Materiality Assessment: Non‑Material – Positive (the release provides operational and financial updates that are favorable but does not disclose new earnings, acquisitions, or material corporate actions).