CanCambria Energy Corp. (TSXV: CCEC) (FSE: 4JH) (OTCQB: CCEYF) (“CanCambria” or the “Company”) is pleased to announce that the Supervisory Authority for Regulatory Affairs of Hungary (SZTFH) has approved the Technical Operating Plan (“TOP” or “MÜT” in Hungarian) for the drilling and completion of the planned CC-Ba-É-2 and CC-Ba-É-3 wells within the Company’s Ba-IX Mining License.
This regulatory approval secures all required permits and authorizations to proceed with the drilling and completion of the initial two appraisal wells. This is an important step towards advancing the project to potential commercialization.
Dr. Paul Clarke, President and CEO, stated: “Approval of the Technical Operating Plan for the first two appraisal wells is a key milestone in advancing the Ba-IX field towards potential commercialization. With regulatory clearances in place, we are now clear to proceed with drilling and completion, gathering critical data that will guide our development plan and support growth across our Hungarian project
The CC-Ba-É-2 and CC-Ba-É-3 wells are designed to test multiple intervals across more than 1,000 meters of gross gas-charged reservoir section. Data gathered is expected to provide insights into production potential and reservoir performance, refine resource estimates, and support ongoing evaluation of the Ba-IX Mining License for potential future development.
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 resource in the heart of Europe.
For additional inquiries, please reach out to:
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.
