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Wedgemount Resources Shareholder Update
Thenewswire· 2026-02-06 00:10
Core Viewpoint - Wedgemount Resources Corp. is addressing operational challenges and financial performance issues from 2025, with a focus on re-establishing growth momentum and improving efficiency in 2026 [2] Operations Update - The company faced significant production disruptions in Q3 and Q4 of 2025 due to third-party gas pipeline shutdowns and local brush fires, leading to curtailments in production and compliance work with the Texas Railroad Commission (RRC) [2] - Completion of RRC compliance work is expected in the coming weeks, allowing for the restart of production, with an anticipated 39 wells in operation by mid-February 2026 [2] Funding - To strengthen its financial position, the company secured a $250,000 USD bridge loan with an exit fee of $250,000 USD, aimed at supporting operations while seeking longer-term financing options [3] Macro Environment - Despite low commodity prices in 2025, activity in Wedgemount's core area is increasing, with larger companies exploring outside traditional shale areas, presenting opportunities for growth through advanced drilling techniques [4] Company Overview - Wedgemount Resources is a junior natural resource company focused on maximizing shareholder value through the acquisition, development, and exploitation of energy projects in the southern USA [5]