Yangarra Belly River Update

Executive Summary

• Yangarra Resources reports successful early‑stage development of its Belly River play in the Chambers area, with 10 wells now on production and average initial production (IP90) of ~200 boe/d.
• Recent pump upgrades and a gelled fracture stimulation design have boosted productivity, with the tenth well now producing >500 boe/d (68% liquids) and similar gains observed in wells 8‑9 after Bottom Hole Pump (BHP) upgrades.
• The company has completed most land acquisitions, identified 40 net Tier 1 drilling locations, and plans to add up to 60 additional locations over the next 6–12 months, with two more wells slated for drilling soon.

Key Details

• Land & Drilling Inventory: Majority of land acquisitions complete; 40 net Tier 1 Belly River drilling locations identified; potential expansion by an additional 60 net locations within 6‑12 months.
• Current Well Count: 10 Belly River wells on production; two standing wells scheduled for fracture stimulation this week; two new wells to be drilled in the near term.
• Fracture Stimulation Evolution: Early wells used slickwater design; from well 7 onward switched to gelled fracture stimulation, improving zone control and productivity.
• Production Performance: First group of wells averaged IP90 ≈ 200 boe/d, forming basis for type curves and economic assumptions.
• Pump Upgrade Impact:
• Well 10 equipped with reconfigured Bottom Hole Pump (BHP) now producing >500 boe/d (68% liquids) after a two‑week cleanup.
• BHP upgrades applied to wells 8 and 9 resulted in significant production increases despite already being on production.
• Future Plans: Continue delineation of the Belly River play across Chambers land base; anticipate drilling additional wells and further pump/completion optimizations.
• Reference Material: Detailed individual well results available in Yangarra’s updated corporate presentation (www.yangarra.ca).

Notable Quotes

(No direct quotes provided in the release.)