Orca Energy Group Inc. Announces Outcome of Contractor Dispute Appeal

Core Viewpoint - Orca Energy Group Inc. has received a judgment from the Court of Appeal of Tanzania regarding its contractual dispute with African Geophysical Services LLP, resulting in a revised damages award [1][3]. Group 1: Legal Proceedings - In February 2025, the High Court of Tanzania awarded AGS damages totaling US$23,100,451 against Orca's subsidiary, PanAfrican Energy Tanzania Limited, along with legal costs and interest at a rate of 7% per annum [2]. - The Court of Appeal partially allowed Orca's appeal, reducing the damages awarded to AGS to US$17,912,445 and dismissing claims amounting to US$5,125,006 [3]. Group 2: Company Actions - The Company is currently reviewing the Appeal Judgment to understand the Court's reasoning and its financial and legal implications [4]. - Following the review, the Company will consider all available legal options but does not plan to disclose further information unless deemed necessary by the board of directors [4]. Group 3: Company Overview - Orca Energy Group Inc. is engaged in natural gas development and supply in Tanzania through its subsidiary, PAET, and trades on the TSX Venture Exchange under the symbols ORC.A and ORC.B [6].