Petrus Resources Announces Renewal of Normal Course Issuer Bid

Core Viewpoint - Petrus Resources Ltd. has received approval from the Toronto Stock Exchange to renew its normal course issuer bid, allowing the company to repurchase up to 6,448,237 common shares over the next twelve months, starting June 30, 2025 [1][2]. Group 1: NCIB Details - The NCIB permits the repurchase of common shares on the open market, with a daily purchase limit of 9,751 shares, which is 25% of the average daily trading volume of 39,004 shares over the past six months [2]. - Petrus can make one block purchase per calendar week that exceeds the daily repurchase limit, and any shares repurchased will be cancelled [2]. Group 2: Rationale for Share Repurchase - The company believes that the current share price does not reflect the underlying value of its common shares, and repurchasing shares for cancellation is seen as an opportunity to enhance per share metrics and increase overall shareholder value [3]. Group 3: Automatic Share Purchase Plan - An automatic share purchase plan has been established to facilitate share repurchases during periods when the company is typically restricted from making purchases due to regulatory constraints [4]. - The designated broker will independently determine the timing and amount of shares to be purchased under the plan, based on criteria set by the company [4]. Group 4: Current NCIB Status - As of June 18, 2025, under the current NCIB running from June 28, 2024, to June 27, 2025, the company has not repurchased any common shares despite being allowed to repurchase up to 6,218,596 shares [5]. Group 5: Company Overview - Petrus is a public Canadian oil and gas company focused on property exploitation, strategic acquisitions, and risk-managed exploration in Alberta [6].