Core Viewpoint - CanCambria Energy Corp. is advancing its operational plans for the Kiskunhalas tight-gas field, with drilling expected to commence in the second half of 2026, and has submitted a Technical Operating Plan for the Kiskunhalas Concession Area, outlining a comprehensive exploration program from 2026 to 2029 [1][5][10] Group 1: Operational Updates - The company has initiated the construction of the CC-Ba-E-2 well by installing and cementing the 20-inch conductor pipe to a depth of 72 meters [2] - A purchase order has been signed with Tenaris Silcotub for tubulars, with a deposit of US$100,000 paid, and delivery expected by June 30, 2026 [3] - Preparations for recommissioning the existing natural gas pipeline to the gas storage facility at Zsana are set to begin in early Q1 2026 [4] Group 2: Technical Operating Plan - The Technical Operating Plan for the Kiskunhalas Concession Area covers 945.9 km² (233,737 acres) and includes an exploration program that integrates an additional 2,000 acres and 12 well locations [5] - Two prospective resource assessment studies are planned, one focusing on conventional oil prospects above 2,000 meters and the other contingent on 3D seismic results targeting the deep tight-gas fairway [5][8] - Geological and geophysical studies will be conducted throughout 2026 to refine leads and prospects identified from previous seismic surveys, with a 3D seismic acquisition program planned for 2027 [8] Group 3: Strategic Partnerships and Future Plans - The company is actively seeking a strategic partner to help fund the Kiskunhalas work program, with opportunities being marketed through Raiffeisen Bank International AG [9] - The President and CEO emphasized the company's commitment to addressing Europe's energy challenges and the importance of the Kiskunhalas project in their growth strategy [10] - The company aims to provide further updates in early 2026 regarding anticipated resource size and risk profile [10]

Core Insights - CanCambria Energy Corp. has announced an upgraded independent resource evaluation for the Kiskunhalas tight-gas project, increasing contingent resources to 1.1 trillion cubic feet (Tcf) of gas and 116.6 million barrels (MMbbl) of condensate [1][10] Resource Evaluation - The updated report incorporates additional land acquired through the Kiskunhalas Exploration Concession Area (KCA), which adds 2,000 acres, representing a 27% increase over the BA-IX Area [3][7] - The 2C Contingent Resources "Development Pending" sub-class has increased by 14% to 571.9 billion cubic feet (Bcf) of natural gas and 59.6 million barrels (MMbbl) of condensate/natural gas liquids [5][10] - The net present value (NPV10) for the 2C Development Pending sub-class has increased by US$200 million to approximately US$1.762 billion, assuming an 80% chance of development [8][7] Development Plans - The KCA includes 12 new wells, spaced at 40 acres, contributing to a total of 112 wells in the Kiskunhalas field development plan [9] - The company’s proprietary 3D seismic program and legacy data have significantly improved the resource characterization, enhancing the overall assessment of the project [4][10] Strategic Positioning - CanCambria holds a 100% working interest and a 98% net revenue interest across both the BA-IX mining license and KCA, positioning the company favorably for unconventional resource production [3][11] - The project is viewed as a strategic opportunity for developing a long-life gas field in Europe, aligning with the company's business model [3][11]