(Oil & Gas 360) – Publisher’s Note: CanCambria Energy will be presenting at EneCom Denver – The Energy Investment Conference on August 17-20, 2025. Register and reserve your room.
CanCambria Energy Corp. (TSXV: CCEC) (FSE: 4JH) (“CanCambria” or the “Company”) is pleased to announce the results of the Company’s independent resource evaluation for the Kiskunhalas tight-gas project in southern Hungary dated April 30th, 2025, prepared by Chapman Hydrogen and Petroleum Engineering ltd (CHPE).
CanCambria Energy Corp. (TSXV: CCEC) (FSE: 4JH) (“CanCambria” or the “Company”) is pleased to announce the results of the Company’s independent resource evaluation for the Kiskunhalas tight-gas project in southern Hungary dated April 30th, 2025, prepared by Chapman Hydrogen and Petroleum Engineering ltd (CHPE).
The company holds 100% working interest and 98% net royalty interest across the greater BA-IX mining license at the Kiskunhalas project. The report includes an area of 4,000 net acres with the Development Pending sub-class for Contingent Resources. The company’s 2023/24 proprietary 3D seismic program was fully utilized in the preparation of the report and integrates three 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 Resource volumes (2C Development Pending) is 627.4 billion cubic feet (BCF) natural gas and 66.5 million barrels (MMBBL) condensate/natural gas liquids (NGL) net to the company (un-risked).¹ The net risked recoverable contingent resource (2C Development Pending) is 501.9 BCF natural gas and 53.2 MMBBL condensate/NGL.
CHPE best estimate for Contingent Resources (2C Development Pending) Net Present Value discounted at 10% (NPV10) assumes a price forecast of January 1st, 2025, is US$1,579,315,000 risked at 80% chance of development and US$1,974,144,000 un- risked, with a rate of return (ROR) of 57.3% for un-risked case.
CanCambria’s Field Development Plan (FDP) comprises a total of 100 wells, with two phases each comprising 50 well tranches. Full FDP results in capital expenditure from CHPE (2C case) of US$947.9 million, discounted at the same 10% rate.
Dr. Paul Clarke, CEO & President, stated: “We are very pleased that this report supports CanCambria’s technical assessment of the field and development plan. The scale of the project makes this a very attractive venture with many years of potential drilling inventory. To validate these assessments, we are preparing a three-well appraisal program, to commence drilling in the coming months, as we seek strategic funding that preserves shareholder value and maximizes net asset value.”
About CanCambria Energy Corp.
CanCambria Energy Corp. is a Canadian-based 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 resource in the heart of Europe.
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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.
¹ Contingent Resources are those quantities of petroleum estimated, as of a given date, to be potentially recoverable from known accumulations using established technology under development, but which are not currently considered recoverable due to one or more contingencies. Contingent resources, by definition, are not classified as reserves due to several conditions including but not limited to the uncertainties of future commodity prices and well recoveries/performance of the appraisal program, which must be resolved to ensure commerciality. There is no certainty that it will be commercially viable to produce any portion of the resources. The Development pending sub-class for contingent resources have reasonable potential for eventual commercial development.
