Toronto, Ontario--(Newsfile Corp. - February 23, 2026) - Ken Gray, President and Chief Executive Officer, Petrus Resources Ltd. ("Petrus" or the "Company") (TSX: PRQ) and their executive team, joined David Chelich, Sector Head, Business Development, Toronto Stock Exchange ("TSX"), to close the market and celebrate the Company's 10th anniversary of being listed on TSX.Cannot view this video? Visit:https://www.youtube.com/watch?v=ORFlN5fWHs8Petrus is a Calgary-based oil and gas company focused on the explora ...

Core Viewpoint - Petrus Resources Ltd. has successfully closed the acquisition of oil-weighted Cardium assets in the Harmattan area of Alberta for approximately $33.4 million, alongside the completion of equity financings and the approval of its 2026 capital budget and guidance [2][3][5]. Acquisition Details - The acquisition involves oil-weighted Cardium light oil assets in the Harmattan area, with total consideration of approximately $33.4 million, subject to customary adjustments [2]. - The acquisition is expected to enhance the company's production profile and increase its exposure to higher-margin liquids [6]. Equity Financing - Petrus closed an upsized bought-deal private placement and a concurrent non-brokered private placement, issuing 11,814,285 common shares at $1.75 per share, generating gross proceeds of approximately $20.7 million [3]. - The net proceeds from the equity offerings were utilized to repay debt incurred for the acquisition [3]. 2026 Capital Budget and Guidance - The Board of Directors approved a capital budget of $50 million to $60 million for 2026, focusing on developmental drilling in the core Ferrier area and the newly acquired Harmattan assets [5]. - The budget is based on price assumptions of USD $65.00 per barrel for oil and CAD $2.50 per GJ for natural gas [5]. Production and Financial Expectations - Petrus anticipates average production of 11,000 to 12,000 barrels of oil equivalent (boe) per day in 2026, with a mix of approximately 40% oil and liquids and 60% natural gas [7][23]. - The company projects funds flow of $60 million to $65 million, equating to approximately $0.40 per share, and plans to maintain a monthly dividend of $0.01 per share [7]. - The company expects to exit 2026 with net debt of approximately $75 million to $80 million, maintaining a net debt to funds flow ratio of 1.2x to 1.3x [7]. Strategic Focus - The capital program aims to sustain production levels, improve capital efficiencies, and generate free funds flow while integrating the newly acquired assets into the company's operations [4][6]. - Petrus has hedged approximately 57% of its forecasted 2026 production at an average price of CAD $86.22 per barrel for oil and CAD $2.88 per GJ for natural gas, with plans for additional hedging [8].

Core Viewpoint - Petrus Resources Ltd. has successfully closed the acquisition of oil-weighted Cardium assets in the Harmattan area of Alberta for approximately $33.4 million, alongside the completion of equity financings and the approval of its 2026 capital budget and guidance [2][3][5]. Acquisition Details - The acquisition involves oil-weighted Cardium light oil assets in the Harmattan area, with total consideration of approximately $33.4 million, subject to customary adjustments [2]. - The acquisition is expected to enhance the company's production profile and increase its exposure to higher-margin liquids [6]. Equity Financing - Petrus closed an upsized bought-deal private placement and a concurrent non-brokered private placement, issuing 11,814,285 common shares at $1.75 per share, generating gross proceeds of approximately $20.7 million [3]. - The net proceeds from the equity offerings were utilized to repay debt incurred for the acquisition [3]. 2026 Capital Budget and Guidance - The Board of Directors approved a capital budget of $50 million to $60 million for 2026, focusing on developmental drilling in the core Ferrier area and the newly acquired Harmattan assets [5]. - The budget is based on price assumptions of USD $65.00 per barrel for oil and CAD $2.50 per GJ for natural gas [5]. Production and Financial Expectations - Petrus anticipates average daily production of 11,000 to 12,000 barrels of oil equivalent (boe) per day in 2026, with a mix of approximately 40% oil and liquids and 60% natural gas [7][23]. - The company projects funds flow of $60 million to $65 million for 2026, equating to approximately $0.40 per share [7]. - The company aims to maintain a monthly dividend of $0.01 per share, representing about 7% of the current share price [7]. Debt Management - Petrus expects to exit 2026 with net debt of approximately $75 million to $80 million, maintaining a net debt to funds flow ratio of 1.2x to 1.3x [7][6]. - The company has hedged approximately 57% of its forecasted 2026 production at an average price of CAD $86.22 per barrel for oil and CAD $2.88 per GJ for natural gas [8]. Strategic Focus - Following the acquisition, Petrus enters 2026 with greater scale and improved liquids exposure, focusing on executing its development program and delivering sustainable returns to shareholders [9].

Core Viewpoint - Petrus Resources Ltd. has increased the size of its private placement offering to approximately $14.5 million due to strong investor demand [1][2]. Group 1: Offering Details - The Underwriters will purchase a total of 8,285,714 common shares at a price of $1.75 per share, resulting in gross proceeds of approximately $14.5 million [2]. - The Underwriters have an option to purchase an additional 1,242,857 shares at the same issue price [2]. - The company will also conduct a non-brokered private placement of 2,285,714 common shares at the same price, aiming for aggregate proceeds of approximately $4 million [3]. Group 2: Offering Timeline and Conditions - The offering is expected to close on or about February 19, 2026, pending approval from the Toronto Stock Exchange [4]. - The terms and purpose of the offering, as well as the use of proceeds, will remain consistent with previous disclosures [3]. Group 3: Company Overview - Petrus is a public Canadian oil and gas company focused on property exploitation, strategic acquisitions, and risk-managed exploration in Alberta [6].

Core Viewpoint - Petrus Resources Ltd. has announced a definitive agreement to acquire oil-weighted Cardium light oil assets in Alberta for approximately $33.4 million, which is expected to enhance its production and financial flexibility [1][4][7]. Transaction Details - The acquisition will be funded through a new Term Facility and net proceeds from a private placement, with an effective date of February 1, 2026, and expected closing around February 19, 2026, pending regulatory approvals [4][5][12]. - The total consideration for the acquisition is approximately $33.4 million, with customary adjustments and the assumption of certain obligations from the vendor [1][4]. Acquisition Highlights - The transaction is expected to increase Petrus' production by approximately 2,000 boe/d, with a liquids weighting increase to about 40%, representing an 11% rise [7][8]. - The acquisition metrics indicate a compelling pricing structure, with a multiple of operating income at 2.0x and a purchase price equal to approximately 51% of PDP NPV-10 [7][8]. - The acquired assets include long-life producing reserves and future drilling inventory, with proved developed producing reserves estimated at 5.8 MMboe, reflecting a 33% increase relative to Petrus' existing reserves [7][8]. Strategic Rationale - The acquisition aligns with Petrus' strategy of developing and producing oil and gas profitably in the Deep Basin, enhancing its operational flexibility and sustainability of cash flow generation [9][10]. - The added production base is expected to support a more consistent development program, improving capital efficiency and shareholder value [10][11]. Financial Structure - The Term Facility has been amended to include a non-revolving term facility of up to $35 million, specifically for funding the purchase price, with an interest rate of Canadian Prime Rate plus 3.75% [12][13]. - The company plans to use the net proceeds from the private placement to reduce the amount drawn under the Term Facility [12][18]. Offering Details - Petrus has entered into a bought deal agreement for a $6 million brokered private placement and a $4 million non-brokered private placement, with shares priced at C$1.75 each [2][14][15]. - The offering is expected to close around February 19, 2026, subject to conditions including approval by the Toronto Stock Exchange [19]. Reserves and Production Metrics - The acquisition includes significant reserves, with proved plus probable reserves totaling 32.6 MMboe and net developed acres of 44,532 [8][9]. - The transaction is projected to be accretive on a per-share basis, enhancing production and cash flow metrics for the company [11].

CALGARY, Alberta, Feb. 03, 2026 (GLOBE NEWSWIRE) -- Petrus Resources Ltd. (“Petrus” or the “Company”) (TSX: PRQ) is pleased to confirm that its Board of Directors has declared a monthly dividend in the amount of $0.01 per share payable February 27, 2026, to shareholders of record on February 17, 2026. The dividend is designated as an eligible dividend for Canadian income tax purposes. Dividend Reinvestment Plan ("DRIP")Petrus' DRIP enables eligible shareholders to reinvest all or part of their cash dividend ...

Core Viewpoint - Petrus Resources Ltd. has declared a monthly dividend of $0.01 per share, payable on January 30, 2026, to shareholders of record on January 15, 2026, designated as an eligible dividend for Canadian income tax purposes [1] Dividend Reinvestment Plan (DRIP) - The DRIP allows eligible shareholders to reinvest all or part of their cash dividends into additional common shares at a 3% discount from the market price [2] - Registered shareholders must submit a completed enrollment form to Odyssey Trust Company before 4:00 p.m. on the 5th business day preceding the dividend record date to participate in the DRIP [3] - Beneficial shareholders should contact their broker to determine eligibility and provide enrollment instructions, with potential restrictions for non-resident shareholders [3] Company Overview - Petrus is a public Canadian oil and gas company focused on property exploitation, strategic acquisitions, and risk-managed exploration in Alberta [5]

Company Overview - Petrus Resources Ltd. is a Canadian oil and gas producer focused on the Deep Basin production area in Alberta [1] Investment Strategy - The Investment Doctor emphasizes a portfolio consisting of a mixture of dividend and growth stocks, targeting a 5-7 year investment horizon [1] - The investment group European Small Cap Ideas provides exclusive access to actionable research on appealing Europe-focused investment opportunities [1] - The focus is on high-quality ideas in the small-cap space, with an emphasis on capital gains and dividend income for continuous cash flow [1] Portfolio Features - The investment group offers two model portfolios: the European Small Cap Ideas portfolio and the European REIT Portfolio [1] - Weekly updates and educational content are provided to enhance understanding of European investing opportunities [1] - An active chat room is available for discussions on the latest developments of the portfolio holdings [1]

Core Points - Petrus Resources Ltd. has declared a monthly dividend of $0.01 per share, payable on December 30, 2025, to shareholders of record on December 15, 2025 [1] - The dividend is classified as an eligible dividend for Canadian income tax purposes [1] Dividend Reinvestment Plan (DRIP) - The DRIP allows eligible shareholders to reinvest cash dividends into additional common shares at a 3% discount from the market price [2] - Participation in the DRIP is optional for shareholders [2] - Registered shareholders must submit an enrollment form to Odyssey Trust Company before 4:00 p.m. on the 5th business day prior to the dividend record date to participate [3] Company Overview - Petrus is a public Canadian oil and gas company focused on property exploitation, strategic acquisitions, and risk-managed exploration in Alberta [5]

Core Insights - Petrus Resources reported a 7% increase in production and a 17% increase in cash flow compared to the previous year, despite facing significant commodity price challenges [2] - The company effectively managed oil and gas price volatility through hedging strategies and optimizing its product mix, allowing it to maintain strong financial performance [2] - The average WTI oil price for the quarter was USD 65 per barrel, reflecting a 14% decrease year-over-year, while the AECO spot natural gas price fell to an all-time low of $0.25 per Mcf, down 8% overall for the quarter [2] Production and Financial Performance - Production increased by 7% year-over-year, indicating successful operational strategies [2] - Cash flow rose by 17%, showcasing the company's ability to generate revenue despite adverse market conditions [2] - Realized oil prices decreased by only 10%, while realized gas prices increased by 15% compared to the previous year, demonstrating effective pricing strategies [3]