Not For Distribution to United States News Wire Services or Dissemination in United States CALGARY, Alberta, Oct. 09, 2025 (GLOBE NEWSWIRE) -- Cavvy Energy Ltd. (“Cavvy” or the “Company”) (TSX:CVVY) will release its financial and operating results for the third quarter 2025 on Thursday, November 6, 2025, after market close. President & Chief Executive Officer Darcy Reding and Chief Financial Officer Adam Gray will discuss the financial results and company developments on an investor conference call and webc ...

Company Overview - Cavvy Energy Ltd. is a Canadian energy company based in Calgary, Alberta, focusing on upstream production and midstream processing of natural gas, NGLs, condensate, and sulphur from Western Canada [3] Financial Results Announcement - Cavvy Energy will release its financial and operating results for the second quarter of 2025 on August 12, 2025, after market close [1] - An investor conference call and webcast to discuss the financial results and company developments will take place on August 13, 2025, at 8:30 a.m. MDT / 10:30 a.m. EDT [2] Company Vision - The company's vision is to provide responsible and affordable natural gas and derived products to meet society's energy security needs [3]

Core Viewpoint - Pieridae Energy Limited reported strong financial results for Q1 2025, with a production of 22,584 boe/d and a Net Operating Income (NOI) of $32.6 million, reflecting proactive management decisions and a recovery in natural gas prices [1][2][5]. Financial Performance - The company generated a Funds Flow from Operations of $21.7 million, equating to $0.07 per basic and fully diluted share [5]. - Operating expenses were $44.0 million, down 15% from Q1 2024, due to production shut-ins and cost structure reductions [5]. - The company incurred a net income of $2.7 million, compared to a loss of $20.9 million in Q4 2024 [6]. Production Metrics - Total production was 22,584 boe/d, with 78% being natural gas, down 35% from Q1 2024 due to voluntary shut-ins and an unplanned outage at the Jumping Pound gas plant [5][6]. - Natural gas production was 105,338 Mcf/d, while condensate and NGLs production were 2,454 bbl/d and 2,574 bbl/d, respectively [4][5]. Strategic Initiatives - The company restarted 1,800 boe/d of previously shut-in dry gas volumes in response to improved AECO natural gas prices [2]. - A hedge monetization transaction generated proceeds of $10.2 million, which were used to reduce debt [2][5]. - The company proposed a name change to Cavvy Energy Ltd. to align with its corporate strategy, pending shareholder approval [5]. Outlook and Guidance - The 2025 production guidance remains unchanged at 23,000 to 25,000 boe/d, reflecting ongoing shut-ins in Central Alberta [11][14]. - The company aims to strengthen its balance sheet, increase gas processing facility utilization, and reduce operating expenses [9][19]. - Specific priorities for 2025 include growing third-party gathering and processing revenues and optimizing infrastructure [15][19]. Hedging Strategy - Pieridae has hedged 110,000 GJ/d of its 2025 natural gas production at a weighted average fixed price of $3.32/GJ [16]. - The company also hedged 1,679 bbl/d of its 2025 condensate production with a weighted average floor price of CAD$84.42/bbl [16]. Capital Expenditures - The capital expenditure guidance for 2025 is set between $25 million and $30 million, focusing on high-impact well and facility optimization projects [18].