Pulse Oil Corp. Announces Amendments to Facility Agreements and Updates EOR Progress

Core Viewpoint - Pulse Oil Corp. has successfully amended loan agreements to increase total loans from $2,250,000 to $4,250,000, allowing continued funding for its Enhanced Oil Recovery (EOR) project [1][2] Loan Agreements - The amended loan agreements involve two lenders, with the new total principal amount being $4,250,000, and maturity dates revised to June 9, 2026, with a possible six-month extension [1][2] - The original loan amount of $2,250,000 was used for solvent injection into the Nisku D oil pool, while an additional $2,000,000 will be available for future drawdowns to support the Bigoray EOR project's solvent injection program [2] EOR Project Progress - Since June 9, 2025, the company has injected approximately 75 m³ of solvent daily into the Nisku D pool, totaling about 23,034 m³ since the project's inception [3] - Production at the Bigoray facility has increased by over 20% due to the EOR flood, with expectations for continued improvement as the solvent bank grows [3] - API Gravity measurements indicate positive results, with significant increases observed at various wells, suggesting effective solvent miscibility with remaining oil [3] Management Commentary - The CEO of Pulse Oil Corp. highlighted that the additional funding will facilitate ongoing solvent injection at favorable prices, with the EOR project showing promising results [4] - The Nisku D and E pools have produced nine million barrels of sweet light crude oil, and surrounding pools utilizing EOR solvent injection have experienced significant production increases [4] Company Overview - Pulse Oil Corp. is focused on a 100% working interest in the EOR Project located in West Central Alberta, which includes two established Nisku pinnacle reef reservoirs [9] - The company employs a proven recovery methodology (NGL solvent injection) to enhance oil recovery, with a current recovery factor of approximately 30% from the pools [10] - The company's total reclamation liabilities are reported at $3.1 million, which is considered low compared to industry peers in Western Canada [10]