Birchcliff Energy Ltd. Receives TSX Approval for Renewal of Normal Course Issuer Bid

Core Viewpoint - Birchcliff Energy Ltd. has announced its intention to initiate a normal course issuer bid (NCIB) to repurchase up to 26,769,197 common shares, representing 10% of its public float, in order to enhance shareholder value and manage dilution from stock options [1][2][3]. Group 1: NCIB Details - The NCIB will commence on November 27, 2025, and will terminate no later than November 26, 2026 [2]. - Birchcliff is permitted to purchase common shares in open market transactions at the prevailing market price, with a daily purchase limit of 252,391 shares, which is 25% of the average daily trading volume over the past six months [2]. - All shares purchased under the NCIB will be cancelled, thereby reducing the total number of outstanding shares [2]. Group 2: Rationale for NCIB - The company believes that the market price of its shares may not reflect the underlying value of its business, and repurchasing shares could be an attractive way to allocate capital and increase the value of remaining shares [3]. - The NCIB may also be used to offset shares issued through the exercise of stock options, minimizing dilution for shareholders [3]. Group 3: Previous NCIB - Under the previous NCIB, Birchcliff was approved to purchase up to 13,489,975 common shares from November 27, 2024, to November 26, 2025, but did not execute any purchases during that period [5]. Group 4: Company Overview - Birchcliff Energy Ltd. is an intermediate oil and natural gas company based in Calgary, Alberta, focusing on the exploration and development of the Montney/Doig Resource Play [10].