Tuktu Resources Ltd. Announces Third Quarter 2025 Results and Operations Update

Core Viewpoint - Tuktu Resources Ltd. reported its financial and operational results for Q3 2025, highlighting a significant increase in petroleum and natural gas sales year-over-year, despite a decline in sales compared to the previous quarter [1][2]. Financial Highlights - Petroleum and natural gas sales for Q3 2025 were CAD 1.69 million, a 33% decrease from CAD 2.51 million in Q3 2024, but a 102% increase from CAD 3.67 million for the nine months ended September 30, 2024 [2]. - The net loss for Q3 2025 was CAD 1.33 million, a 29% reduction compared to CAD 1.89 million in Q3 2024, and a 30% reduction for the nine months ended September 30, 2025, compared to CAD 3.06 million in the same period of 2024 [2][9]. - Total capital expenditures for Q3 2025 were CAD 154,216, a 74% decrease from CAD 596,880 in Q3 2024, while capital expenditures for the nine months ended September 30, 2025, increased by 261% to CAD 6.72 million from CAD 1.86 million in 2024 [2][9]. Operating Highlights - Average production volumes for Q3 2025 were 450 boe/d, a 26% decrease from 608 boe/d in Q3 2024, with crude oil production at 215 bbl/d, down 30% from 305 bbl/d, and natural gas production at 1,408 mcf/d, down 23% from 1,819 mcf/d [2][4]. - The company reported an operating netback of CAD (1.07) per boe for Q3 2025, a 107% increase from CAD 14.32 per boe in Q3 2024 [4]. - Tuktu's discovery well in the Alberta Deep Basin continues to produce at 125 bbl/d and has produced over 100,000 bbl of oil since being placed on production [6]. Operations Update - The company is advancing its new light oil play within the upper Banff and Big Valley formations and is executing an optimization program to increase production and reduce operating costs [7]. - An offset horizontal well drilled in Q1 2025 is currently shut-in for pressure build-up, and the company is monitoring its performance compared to the discovery well [7].