Calgary, Alberta – TheNewswire - August 28, 2025 - WesCan Energy Corp. ("WesCan" or the "Company") announces its financial and operating results for the three months ended June 30, 2025.

Q1 2026 Highlights

• Production: Averaged 124 boe/d, compared to 152 boe/d in Q1 2025, primarily due to natural declines and scheduled field maintenance. 

• Revenue: $674,605, down 42% from $1,158,245 in Q1 2025, driven by lower commodity prices and reduced oil production. 

• Operating Netback: Improved 6% to $17.06/boe versus $16.11/boe in Q1 2025, reflecting lower operating costs and compressor-related efficiencies. 

• Operating Costs: Reduced 51% to $403,014, compared to $814,778 in Q1 2025, mainly due to lower workover and maintenance activity. 

• Royalty Expense: Decreased 34% to $80,109, versus $121,182 in Q1 2025. 

• Cash Flow from Operating Activities: $104,800, down 38% from $167,862 in Q1 2025. 

• Capital Expenditures: $14,749, down from $76,676 in Q1 2025, primarily related to compressor purchases. 

• Working Capital Deficiency: $1,021,038 as of Q1, 2026, compared to $981,640 at Q4, 2025. 

Operational Update

In Q2-2026, WesCan successfully drilled and completed a multilateral horizontal oil well in the Provost area, targeting the Mannville Group. This marks a significant milestone in the Company’s 2026 capital program, designed to enhance recovery factors and improve cost efficiency through multilateral drilling techniques.

First production from the new well is expected by September, with results to be disclosed after stabilization.

Outlook

Wescan remains focused on executing its disciplined growth strategy:

• Production Growth: Leveraging the recently drilled well and evaluating follow-up drilling in Q3 and Q4 2026. 

• Capital Efficiency: Prioritizing multilateral drilling to access multiple stacked pay zones and minimize surface footprint. 

• Financial Discipline: Exploring a mix of internally generated cash flow and targeted equity financings to support future development. 

• Shareholder Value: Committed to maximizing netbacks, improving operational efficiency, and sustaining long-term value creation. 

About Wescan Energy Corp.:

WesCan Energy Corp. is a growth-oriented Canadian junior oil and gas producer focused on developing oil opportunities in east-central Alberta. Leveraging advanced drilling techniques and targeted reservoir management, the Company is committed to unlocking value from its high-quality asset base. WesCan’s strategy is centered on disciplined investment, operational innovation, and creating sustainable returns through efficient production growth and prudent capital stewardship.

For more information, please contact:

Leo Berezan
President & CEO
Wescan Energy Corp.
www.wescanenergycorp.com

 

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Disclaimer for Forward-Looking Information

 

Except for statements of historical fact, this news release contains certain “forward-looking information” within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate” and other similar words, or statements that certain events or conditions “may” occur. Although the Company believes that the expectations reflected in the forward-looking information are reasonable, there can be no assurance that such expectations will prove to be correct. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this news release. Such forward-looking statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements. The Company assumes no obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as otherwise required by law.