Cancambria Energy Corp Announces Upgraded Resource Evaluation to Include Kiskunhalas Concession Increasing the Contingent Resources to 1.1 Tcf Gas and 116.6 MMbbl Condensate

Rhea-AI Summary

CanCambria Energy (OTCQB: CCEYF) announced an upgraded independent resource evaluation for the Kiskunhalas tight-gas project (dated Sept 30, 2025) that incorporates the newly awarded Kiskunhalas Concession Area (KCA) acquired in Q1 2025.

Key metrics: Contingent Resources (all classes) rise to 1.1 Tcf gas and 116.6 MMbbl condensate; 2C Development Pending = 571.9 Bcf and 59.6 MMbbl (net, risked 80%); NPV10 (2C Development Pending, risked) = US$1.762 billion, up ~US$200 million after KCA; KCA adds 2,000 acres (~27%) and 12 wells to a 112-well FDP.

Positive

• Contingent Resources increased to 1.1 Tcf gas
• Condensate contingent resources total 116.6 MMbbl
• 2C Development Pending set at 571.9 Bcf and 59.6 MMbbl (net, risked 80%)
• NPV10 for 2C Development Pending is US$1.762 billion (risked), +US$200M from KCA
• KCA adds 2,000 acres (~27%) and 12 wells to the FDP (total 112 wells)

Negative

• A 544.5 Bcf and 57 MMbbl 2C Development Unclarified is excluded from valuation and requires further appraisal
• NPV10 figure is presented before tax, which may reduce net value
• Valuation is risked at 80%, reflecting development probability below 100%

Vancouver, British Columbia--(Newsfile Corp. - November 18, 2025) - CanCambria Energy Corp. (TSXV: CCEC) (FSE: 4JH) (OTCQB: CCEYF) ("CanCambria" or the "Company") is pleased to announce the results of the Company's upgraded independent resource evaluation report for the Kiskunhalas tight-gas project in southern Hungary, dated September 30, 2025, and prepared by Chapman Hydrogen and Petroleum Engineering Ltd ("CHPE"). This report incorporates the additional land acquired by the Company through the award of the Kiskunhalas Exploration Concession Area ("KCA") in Q1 2025 (see April 1, 2025 press release).

Key Highlights

• KCA includes an additional 2,000 acres of overall Contingent Resources (all classes), an increase of ~27% to the report area.
• Adds 480 acres and 12 wells to the Development Pending Contingent Resources Category.
• 2C Contingent Resources "Development Pending" sub-class increases by 14% to 571.9 Bcf and 59.6 MMbbl (net risked recoverable).
• NPV10 increases by US$200 million to ~US$1.762 billion for 2C Development Pending sub-class, risked case.
• Contingent Resources overall increase to 1.1 Tcf natural gas and 116.6 MMbbl condensate.

Dr. Paul Clarke, CEO & President, stated: "We are very pleased with the additional resource capture and valuation attributed to the KCA. CanCambria's technical assessment of the field, driven by our robust technical dataset, demonstrates the extension of the play characterised in our previous report (see May 12, 2025 press release). The low-cost acquisition of the KCA is consistent with our business model and presents the opportunity for near-term drilling with wells in the KCA located approximately 1 km offset from our approved CC-Ba-E3 location. The scale of the project makes this a very attractive venture with the potential of developing a strategic long life gas field in the heart of Europe."

The Company holds 100% working interest ("WI") and 98% net revenue interest ("NRI") across both the BA-IX mining license and Kiskunhalas Concession Area ("KCA") for unconventional resource production. The KCA adds 2,000 acres to the existing Contingent Resources area (all classes), an increase of approximately 27% over the BA-IX Area. The updated report adds 480 net acres with the Development Pending sub-class for Contingent Resources, an increase of approximately 10% over the BA-IX Area.

The Company's 2023/24 proprietary 3D seismic program was fully utilized in the preparation of the report, in addition to several seismic volumes licensed in the KCA from the Hungarian Mining Directorate, including a legacy 2011 survey. The report integrates legacy wells; the dataset provides open-hole logs, core, and gas test/production data. The resulting seismic-derived facies models provide a significant improvement over all older characterization efforts.

The CHPE best estimate for Contingent Resources volumes (2C Development Pending) is 571.9 billion cubic feet ("Bcf") natural gas and 59.6 million barrels ("MMbbl") condensate/natural gas liquids net to the company (risked at 80%). These volumes represent an increase of approximately 14%, and are principally attributed to the additional KCA lands.

The CHPE best estimate for Contingent Resources (2C Development Pending) Net Present Value discounted at 10% ("NPV10"), assuming a price forecast of January 1, 2025, is US$1.762 billion (before tax) risked at 80% chance of development, with a rate of return of over 50%. The KCA adds an incremental US$ 200 million NPV10 risked valuation.

The KCA includes 12 wells, spaced at 40 acres, that are added to the Kiskunhalas tight-gas field development plan ("FDP"). CanCambria's FDP now comprises a total of 112 wells, with two phases each comprising 56 wells.

Additionally, the 2C Contingent Resources Development Unclarified sub-class increased by 45% to 544.5 Bcf and 57 MMbbl; further appraisal is required in order to capture these resources, which are not incorporated in the valuation presented above and represent a further upside to the FDP. The combined Contingent Resources (all classes) is 1.1 Tcf (trillion cubic feet) and 116.6 million barrels of condensate.

The complete resources evaluation can be downloaded from SEDAR+.

About CanCambria Energy Corp.

CanCambria Energy Corp. is a Canadian exploration and production company specializing in tight gas development. With a globally experienced leadership team, CanCambria focuses on high-quality, de-risked projects with direct access to profitable markets. Leveraging industries' most advanced technologies they aim to commercialize their flagship asset, the 100% owned Kiskunhalas Project in southern Hungary, a significant gas-condensate resources in the heart of Europe.

For additional inquiries, please reach out to:

Paul Clarke PhD CEO & President paul.clarke@cancambria.com Chris Beltgens VP, Corporate Development chris.beltgens@cancambria.com

Investor Relations - North America KIN Communications Inc. 604-684-6730 ccec@kincommunications.com Email: info@CanCambria.com Website: www.CanCambria.com

 

CAUTIONARY NOTE ON FORWARD-LOOKING STATEMENTS

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Certain information other than statements of historical facts contained in this news release constitutes "forward-looking information" or "forward-looking statements" (collectively, "forward-looking information"). Without limiting the foregoing, such forward-looking information includes statements regarding the Offering, Company's business plans, expectations, capital costs and objectives. In this news release, words such as "may", "would", "could", "will", "likely", "believe", "expect", "anticipate", "intend", "plan", "estimate" and similar words and the negative form thereof are used to identify forward-looking information. Forward-looking information should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether, or the times at or by which, such future performance will be achieved. Forward-looking information is based on information available at the time and/or the Company management's good faith belief with respect to future events and is subject to known or unknown risks, uncertainties, assumptions and other unpredictable factors, many of which are beyond the Company's control. The forward-looking information set forth herein reflects the Company's expectations as at the date of this news release and is subject to change after such date. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/274950

FAQ

What did CanCambria (CCEYF) report on Nov 18, 2025 about Kiskunhalas resources?

CanCambria reported upgraded contingent resources of 1.1 Tcf gas and 116.6 MMbbl condensate after adding the Kiskunhalas Concession Area.

How much did the KCA increase CanCambria's resource valuation (CCEYF)?

The KCA added approximately US$200 million to the 2C Development Pending NPV10 (risked) bringing it to US$1.762 billion.

What are the 2C Development Pending volumes for CanCambria (CCEYF)?

The CHPE best estimate for 2C Development Pending is 571.9 Bcf gas and 59.6 MMbbl condensate, net and risked at 80%.

How many wells and acres did the KCA add to CanCambria's FDP (CCEYF)?

The KCA adds 2,000 acres (~27% increase) and 12 wells (40-acre spacing), bringing the FDP to 112 wells.

Is all upgraded resource volume included in the valuation for CCEYF?

No — a 2C Development Unclarified tranche of 544.5 Bcf and 57 MMbbl is not included and requires further appraisal.