Core Insights - Lotus Creek Exploration Inc. has provided its third quarter operating results and operational update, highlighting significant production growth and capital investments in its inaugural year as a public company [1][4]. Quarterly Highlights - The company reported an average production of 1,425 barrels of oil equivalent per day (boe/d) for Q3 2025, with a notable increase to over 2,900 boe/d in October 2025 [5][6]. - Adjusted funds from operations for Q3 2025 were $1.9 million, slightly down from $2.0 million in Q2 2025 [5][7]. Operational Update - Lotus Creek successfully drilled and completed 2.0 gross (2.0 net) light oil Belly River wells in Wilson Creek, achieving an average production rate of over 1,700 boe/d for October 2025 [5][6]. - The company has doubled its production base and anticipates Q4 average production guidance between 3,000 and 3,400 boe/d [5][6]. 2025 Revised Fiscal Guidance - The annual production guidance remains unchanged at 2,000 - 2,400 boe/d, while the Q4 average production guidance is also maintained [4][6]. - Changes in commodity weighting were noted, with light oil and natural gas liquids (NGLs) now expected to comprise 75% of production, down from a previous estimate of 77% [6]. Financial Metrics - Capital expenditures for Q3 2025 totaled $18.8 million, including the completion of a new 5,000 boe/d oil battery and gathering system [5][6]. - As of September 30, 2025, the company reported a net debt of $6.5 million, with a net debt to quarterly funds from operations ratio of 0.8 times [5][6]. Production and Sales Data - The production breakdown for Q3 2025 included 874 bbl/d of light oil, 201 bbl/d of NGLs, and 2,100 mcf/d of natural gas [5][8]. - Average realized prices for Q3 2025 were $84.65 per bbl for light oil and $0.54 per mcf for natural gas [8]. Capital and Abandonment Expenditures - Total capital and abandonment expenditures for the nine months ended September 30, 2025, were $31.9 million, with exploration and evaluation expenditures of $12.3 million [7][8]. Company Overview - Lotus Creek is focused on becoming a leading junior oil and gas company in Canada, with a strategy centered on profitable growth in earnings, cash flow, production, and reserves [11][12].

Core Insights - Tenaz Energy Corp. reported significant financial and operational improvements for Q3 2025, including a 48% increase in production volumes and a substantial rise in funds flow from operations [5][10][15] Financial Performance - Production volumes averaged 11,832 boe/d in Q3 2025, up 48% from Q2 2025, attributed to contributions from Tenaz Energy Netherlands [5][10] - Funds flow from operations for Q3 was $40.2 million ($1.42/share), compared to $17.2 million ($0.61/share) in Q2 2025, driven by the TEN acquisition [5][10] - Operating netback improved to $49.08/boe in Q3 2025, a 62% increase from the previous year, due to higher margins from TEN assets [5][10] - Net income for Q3 2025 was $24.8 million ($0.87/share), a turnaround from a loss of $2.5 million in Q3 2024 [5][10] - Tenaz ended Q3 2025 with a net debt position of $55.0 million, down from $100.2 million at the end of Q2 2025 [5][10] Corporate Developments - On October 6, 2025, Tenaz announced the acquisition of Hansa Hydrocarbons Limited, enhancing its interests in the GEMS project in the North Sea [18][19] - The GEMS acquisition was valued at $232 million in cash and $12 million in Tenaz shares, with potential additional payments based on future exploration success [19][20] - Production guidance for 2025 was increased to 9,500 to 10,000 boe/d, reflecting contributions from TEN and GEMS [36] Operational Highlights - The company successfully completed two offshore turnarounds in Q3 2025, with net production for Netherlands assets averaging 9,506 boe/d [22] - Canadian production reached a record level, up 2% from Q2 2025 and 51% from Q3 2024, with strong performance from recent wells [26] - Significant capital expenditure guidance was revised to a range of $100 to $110 million for D&D CAPEX [36] Resource Evaluation - The Resource Report for TEN assets indicated contingent resources of 11.8 million boe (1C) to 29.0 million boe (3C), with a risked best estimate of 12.9 million boe [11][44] - Prospective resources were estimated at 81.9 million boe (low) to 412.3 million boe (high), with a risked mean of 60.7 million boe [11][45] Market Environment - TTF gas prices averaged €32.43/MWh ($15.30/Mcf) in Q3 2025, supported by increased LNG imports into Europe [27][28] - The company has hedged approximately 56% of its Q4 2025 TTF gas production at an average price of €34.21/MWh ($16.31/Mcf) [29]

Core Viewpoint - Canacol Energy Ltd. reported its financial and operational results for the three and six months ended June 30, 2025, highlighting a decrease in revenues and production volumes, but an increase in net income due to a non-cash deferred income tax recovery [1][6][8]. Financial Highlights - Total revenues for the three months ended June 30, 2025, decreased by 27% to $64.8 million compared to $88.3 million in 2024, and for the six months, revenues decreased by 17% to $137.5 million from $166.0 million [6][8]. - Adjusted EBITDAX fell by 35% to $47.4 million for the three months and by 23% to $103.6 million for the six months compared to the same periods in 2024 [6][8]. - Adjusted funds from operations decreased by 35% to $36.9 million for the three months and by 23% to $76.2 million for the six months compared to 2024 [6][8]. - Net income for the three months ended June 30, 2025, was $13.9 million, a recovery from a net loss of $21.3 million in 2024, and for the six months, net income was $45.7 million compared to a loss of $17.6 million in 2024 [6][8]. Operational Highlights - Natural gas sales volumes decreased by 25% to 119.0 MMcfpd for the three months and by 20% to 123.8 MMcfpd for the six months compared to 2024 [6][9]. - The company successfully drilled one exploration well (Borbon-1) and one appraisal well (Fresa-4) in June 2025, with both wells tied into production facilities by the end of July 2025 [3][4]. - Current natural gas sales are approximately 138 MMcfpd, with new wells expected to contribute additional production by mid-August 2025 [4]. Sustainability and ESG Reporting - Canacol presented its 2024 ESG and TCFD Reports during the quarter ended June 30, 2025, which are available on the company's website [5]. Management Changes - The company announced the resignation of Mr. William Satterfield, Senior Vice President of Exploration, effective August 7, 2025 [7].