Decimus reports 2025 year-end results, reserves

   Calgary, Alberta (April 30, 2026) - TheNewswire – Decimus Oil Corp. (“WCSB” or the “Company”) (TSXV:WCSB) is pleased to report its financial and operating results for the fourth quarter and year ended December 31, 2025, as well as highlights of the Company’s year-end reserves evaluation.   Selected financial and operational information is set out below and should be read in conjunction with the Company’s audited consolidated annual financial statements and related management's discussion and analysis ("MD&A") for the years ended December 31, 2025, and 2024, which are filed on SEDAR+ at www.sedarplus.ca and are available on the Company’s website www.decimusoil.com . The highlights reported in this press release include certain non-GAAP financial measures and ratios which have been identified using capital letters. The reader is cautioned that these measures may not be directly comparable to other issuers; please refer to additional information under the heading “Reader Advisories – Non-GAAP Measures and Ratios”.   MESSAGE TO SHAREHOLDERS   “During 2025 Decimus successfully executed on several key initiatives including strong production growth, continued optimization of our waterflood activities and our ongoing cost reduction initiatives across our properties.

These initiatives resulted in per share reserve growth and reserves volume growth in proved developed and producing (“PDP”) reserves increase of 29%, total proved (“TP”) reserves increase of 18% and total proved plus producing (“TPP”) reserves increase of 14%. We continued to see positive results from our waterflood injection programs at Murray Lake & Hays, leading to higher overall recoveries, while maintaining reservoir pressures, lowering decline rates while extending the economic life of our reserves.   Several highlights during the calendar year included corporate production increased by 90% when comparing to 2024, we increased cashflow from operating activities by 230% while reducing its operating cost by 10% and lowered its infrastructure and water flood reinjection costs. In addition, investments in upgrading our emulsion & water treating infrastructure in 2024, resulted in a 42% increase in third-party processing income during 2025, as the Company secured several new customers, which also further reduced our field operating costs. 2025 capital expenditures totalled $205,060, a 70% decrease from 2024 of $691,151, as the Company balanced its capital spending within available cashflows.

I wanted to extend my gratitude to our employee’s at Decimus for their ongoing dedication, our board of directors and shareholders for their continued support,” commented Cameron MacDonald, President & CEO.   2024 FINANCIAL, OPERATING AND RESERVE HIGHLIGHTS   Production – delivered quarterly production of 163 Boe/d (44 % Oil) in the fourth quarter of 2025 and annual production averaged 175 Boe/d (47 % Oil) in 2025, an increase of 90% from 92 Boe/d (91% Oil) when compared to 2024.   Operating Cash Flows - delivered cash provided by operating activities of $411,617, a 230% increase when compared to $124,785 in 2024, adjusted funds flow (1) of ($425,301).   Operating Netback – despite a challenging commodity prices environment in 2025, Operating Netback, before hedging, averaged $4.96/Boe, a 42% reduction from 2024, attributed to lower WTI AECO prices while increasing gas-weighting.   Capital Expenditures - The Company executed a conservative capital program of $205,060 in 2025, a 70% decrease from $691,151 in 2024. The minimal capital maintenance required during 2025 demonstrates the quality of its low decline, long-life reserves, which will support future development of drilling opportunities.   Tax Pools - As of December 31, 2025, the Company had $24 million in tax pools, of which $19.5 million are non-capital losses (NCL).   Year-End Reserves - demonstrated positive organic growth through its ongoing waterflood program and cost reduction initiatives, resulting in proved developed and producing reserves (“PDP”) increased by 29% (23% per share, diluted), total proved reserves (“TP”) increased by 18% (13% per share, diluted basis), and total proved plus probable reserves (“TPP”) increased by 14% (9% per share, diluted). The Company’s before tax net present value (“NPV”) reserves, discounted at 10%, decreased by 61% on a proved developed and producing reserves (“PDP”), decreased by 18% on a total proved reserves (“TP”) and a decreased its total proved plus probable reserves (“TPP”) by 10% year over year.   Per Share Value Growth – successfully achieved per share reserve growth (1)  on a fully diluted increase by a 23% (“PDP”), 13% (“TP”) and 9% (“TPP”) from 2024.     The following table summarizes the Company’s financial and operating results for the fourth quarters and years ended December 31, 2025, and December 31, 2024.    OPERATIONAL AND FINANCIAL HIGHLIGHTS Capital Management Measure; See “Non-IFRS Financial Measures, Non-IFRS Financial Ratios and Capital Management Measures” Section of this MDA.   Non-IFRS Financial Ratio; See “Non-IFRS Financial Measures, Non-IFRS Financial Ratios and Capital Management Measures” Section of this MDA.      2025 Corporate Reserve Highlights (2)   (1) As at December 31, 2024, the Company had 44,614,100 basic shares outstanding and 51,159,600 fully diluted.   (2) Oil equivalent amounts have been calculated using a conversion ratio of six thousand cubic feet of natural gas to one barrel of oil.    See Cautionary Statements – Barrels of oil equivalent ” below.     The Company delivered positive reserve volume growth across all categories in 2025.

As of December 31, 2025, PDP reserves of 393.2 MBOE, an increase of 29%, net of annual 2025 production of 63 MBOE, TP reserves of 774.4 MBOE, an increase of 18% and TPP reserves of 1,104.5 MBOE, an increase of 14%.   The Company experienced positive reserve volumes increases at Hays and Murray Lake properties targeting the Mannville formation, due in part to its ongoing waterflood efforts, which increase future recoveries, lowered future decline rates, lowered operating costs, minimize capital spending, all of which improved the economic life of the assets. At Murray Lake, reserve volume declined slightly from 61.7Mboe to 61.5Mboe a 1% change, net of producing 14.6 Mboe during 2025.  Murray Lake continues to see positive reserve and financial results from its ongoing waterflood, water injection and reservoir pressure support, which reflects the early stage of development characteristics of this waterflood, program. At Hays property, reserve volume remained flat 42.6 Mboe, net of producing 7.1 Mboe during 2025.

These positive results were offset by technical revisions at its Swan Hills Unit and Vulcan, paired with lower WTI AECO commodity prices which negatively impacted net present values.   The Company experienced positive reserve volumes increases at its gas property at Patricia property, which includes the Dinosaur Unit and the Patricia Units due in part to ongoing efforts to reducing operating costs which improved the economic life of its low decline production profile. At Patricia/Dinosaur property, reserve volume increased from 71.1Mboe to 145.4Mboe a 104 % increase, net of producing 19.6 Mboe during 2025. The Company completed a schedule overhaul on its power equipment in 2025, which should reduce future operating costs, extended the useful life of several wells in the area while improving associated future cashflows.   The net present value (“NPV”) of reserves discounted at 10% before tax, declined on a PDP basis TP and TPP basis.

The decline on a PDP was due entirely to lower commodity prices, higher fixed costs and lower annual production volumes.     The Company’s reserve volumes and undiscounted future development costs (“FDC”) as of December 31, 2025, are summarized below:   Reserves are presented on a “company gross” basis, which is defined as Decimus working interest (operating and non-operating) share before deduction of royalties and without including any royalty interest of the Company.   Based on the Trimble Engineering Associates Ltd. December 31, 2025, forecast prices and costs. Trimble’s commodity price forecasts as of December 31, 2025, which were used in the Trimble Report, can be found at  https://trimbleenergygroup.com/commodity-price-forecast/   Including both non-associated gas and associated gas but excluding solution gas (gas dissolved in crude oil).   Oil equivalent amounts have been calculated using a conversion ratio of six thousand cubic feet of natural gas to one barrel of oil.    See Cautionary Statements – Barrels of oil equivalent ” below.   Columns may not add due to rounding of individual items.     The following table summarizes the NPV of the Company’s reserves (before-tax) as at December 31, 2025. The reserves value on a $/BOE basis, discounted at 10% per year, is also summarized for each category.   Based on the Trimble Engineering Associates Ltd. December 31, 2025, forecast prices and costs.

Trimble’s commodity price forecasts as of December 31, 2025, which were used in the Trimble Report, can be found at  https://trimbleenergygroup.com/commodity-price-forecast/   Estimated future net revenues are stated without any provision for interest costs, other debt service charges or general and administrative expenses, and after deduction of royalties, estimated operating costs, estimated abandonment and reclamation costs, and estimated future development costs.   Estimated future net revenue, whether discounted or not, does not represent fair market value.   Net present values of future net revenue after income taxes are estimated to approximate the before income tax values based on the estimated future revenues, available tax pools and future deductible expenses.   Columns may not add due to rounding of individual items.      Columns may not add due to rounding.   Company Gross Reserves exclude royalty volumes     The Company’s operations have been, and in the future may be, affected by political developments and by national, federal, provincial, stated and local laws and regulations such as restrictions on production, the imposition of tariffs, embargoes or export restrictions on the Company’s products, including the tariffs on a variety of goods announced by the US government on March 4, 2025, and Canadian countermeasures subsequently announced, both of which are anticipated to evolve.   An updated corporate presentation can be found at www.decimusoil.com For further information please contact: Decimus Oil Corp. Cameron MacDonald, President & CEO Phone: (403) 585-9875 Email: cmacdonald@decimusoil.com www.decimusoil.com   About Decimus Oil Corp. Decimus Oil Corp. is engaged in the acquisition, development and production of oil and gas in the Western Canadian Sedimentary Basin. The Company is focused on Mannville development in Southern Alberta where it’s advancing its low-risk acquisition strategy, paired with deploying modern completion techniques to expose its underexploited drilling opportunities to unlock significant resource in place.   Forward-looking Information and Statements The information in this news release contains certain forward-looking statements. These statements relate to future events or our future performance.

All statements other than statements of historical fact may be forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as "seek", "anticipate", "plan", "continue", "estimate", "approximate", "expect", "may", "will", "project", "predict", "potential", "targeting", "intend", "could", "might", "should", "believe", "would" and similar expressions. These statements involve substantial known and unknown risks and uncertainties, certain of which are beyond the Company's control, including: the impact of the COVID-19 pandemic on the Company's business and operations (and the duration of the impacts thereof). the inability of the Company to meet its commitments on its lands or on the lands it may acquire, the impact of general economic conditions; industry conditions; changes in laws and regulations including the adoption of new environmental laws and regulations and changes in how they are interpreted and enforced; fluctuations in commodity prices and foreign exchange and interest rates; stock market volatility and market valuations; volatility in market prices for oil and natural gas; liabilities inherent in oil and natural gas operations; uncertainties associated with estimating oil and natural gas reserves, changes in income tax laws or changes in tax laws and incentive programs relating to the oil and gas industry; geological, technical, drilling and processing problems and other difficulties in producing petroleum reserves; and obtaining required approvals of regulatory authorities.

The Company's actual results, performance or achievement could differ materially from those expressed in, or implied by, such forward-looking statements and, accordingly, no assurances can be given that any of the events anticipated by the forward-looking statements will transpire or occur or, if any of them do, what benefits the Company will derive from them. These statements are subject to certain risks and uncertainties and may be based on assumptions that could cause actual results to differ materially from those anticipated or implied in the forward-looking statements. The forward-looking statements in this news release are expressly qualified in their entirety by this cautionary statement.

Except as required by law, the Company undertakes no obligation to publicly update or revise any forward-looking statements. Investors are encouraged to review and consider the additional risk factors set forth in the Company's continuous disclosure documents which are available on SEDAR at www.sedar.com .   READER ADVISORIES   Non-GAAP Measures and Ratios This press release contains certain financial measures and ratios which do not have standardized meanings prescribed by International Financial Reporting Standards (" IFRS Accounting Standards ") or Generally Accepted Accounting Principles (" GAAP "). As these non-GAAP financial measures and ratios are commonly used in the oil and gas industry, Decimus believes that their inclusion is useful to investors.

The reader is cautioned that these amounts may not be directly comparable to measures for other companies where similar terminology is used.   The non-GAAP measures and ratios used in this press release, represented by the capitalized and defined terms outlined below, are used by Decimus as key measures of financial performance, and are not intended to represent operating profits nor should they be viewed as an alternative to cash provided by operating activities, net income or other measures of financial performance calculated in accordance with IFRS Accounting Standards.   The definitions below should be read in conjunction with the "Non-GAAP Measures and Ratios" section of the Company's most recent MD&A, which includes discussion of the purpose and composition of the specified financial measures and detailed reconciliations to the most directly comparable GAAP financial measures.   Operating Income and Operating Netback Operating Income, a non-GAAP financial measure, is a useful supplemental measure that provides an indication of the Company's ability to generate cash from field operations, prior to administrative overhead, financing, and other business expenses. " Operating Income, before hedging " is calculated by Decimus as oil and gas sales, net of royalties, plus processing and other revenue and net commodities purchased margin, less operating and transportation expenses. " Operating Income, after hedging " is calculated by adjusting Operating Income for realized gains or losses on derivative financial instruments.

The Company refers to Operating Income expressed per unit of production as an " Operating Netback " and reports the Operating Netback before and after hedging, both of which are non-GAAP financial ratios. Decimus considers Operating Netback an important measure to evaluate its operational performance as it demonstrates its field level profitability relative to current commodity prices.   Adjusted Funds Flow and Free Funds Flow Cash provided by operating activities is the most directly comparable measure to Adjusted Funds Flow. " Adjusted Funds Flow " is a non-GAAP financial measure reconciled to cash provided by operating activities by excluding changes in non-cash working capital, adding back transaction costs on acquisitions and dispositions, and deducting the principal portion of lease payments.

Decimus utilizes Adjusted Funds Flow as a key performance measure in the Company's annual financial forecasts and public guidance. Transaction costs, which primarily include legal and financial advisory fees, regulatory and other expenses directly attributable to execution of acquisitions and dispositions, are added back because the Company's definition of Free Funds Flow excludes capital expenditures related to acquisitions and dispositions. For greater clarity, incremental overhead expenses related to restructuring following significant acquisition or divestitures are included in Decimus's general and administrative expenses.

Lease liabilities are not included in Decimus's definition of Net Debt therefore lease payments are deducted in the period incurred to determine Adjusted Funds Flow.   The Company refers to Adjusted Funds Flow expressed per unit of production as an " Adjusted Funds Flow Netback ".   " Free Funds Flow " is a non-GAAP financial measure calculated by Decimus as Adjusted Funds Flow less Capital Expenditures before A&D. Decimus believes Free Funds Flow provides an indication of the amount of funds the Company has available for future capital allocation decisions such as to repay current and long-term debt, reinvest in the business or return capital to shareholders.   Adjusted Funds Flow per share Adjusted Funds Flow (" AFF ") per share is a non-GAAP financial ratio used by the Company as a key performance indicator. AFF per share is calculated using the same methodology as net income per share (" EPS "), however the diluted weighted average common shares (" WA Shares ") outstanding for AFF may differ from the diluted weighted average determined in accordance with IFRS Accounting Standards for purposes of calculating EPS due to non-cash items that impact net income only.

The impact of stock options and share awards is more dilutive to AFF than EPS because the number of shares deemed to be repurchased under the treasury stock method is not adjusted for unrecognized share-based compensation expense as it is non-cash (see also, "Share Capital").   Capital Expenditures before A&D " Capital Expenditures before A&D " is a non-GAAP financial measure used by Decimus to measure its capital investment level compared to the Company's annual budgeted capital expenditures for its organic drilling program. It includes capital expenditures on exploration and evaluation assets and property, plant and equipment, before acquisitions and dispositions. The directly comparable GAAP measure to Capital Expenditures before A&D is cash used in investing activities.   Adjusted Net Capital A&D " Adjusted Net Capital A&D " is a supplemental measure disclosed by Decimus which aggregates the total amount of cash, debt, and share consideration used to acquire crude oil and natural gas assets during the period, net of cash proceeds received on dispositions.

The Company believes this is useful information because it is more representative of the total transaction value than the cash acquisition costs or total cash used in investing activities, determined in accordance with IFRS Accounting Standards. The most directly comparable GAAP measures are acquisition costs and disposition proceeds included as components of cash used in investing activities.   Net Debt and Adjusted Working Capital References to " Net Debt " includes long-term debt under Decimus's revolving credit facility, net of Adjusted Working Capital. Net Debt and Adjusted Working Capital are both non-GAAP financial measures.

" Adjusted Working Capital " is calculated as current assets less current liabilities, excluding derivative financial instrument assets and liabilities, lease liabilities, and current debt (if applicable). The Adjusted Working Capital deficit includes cash and cash equivalents, restricted cash, accounts receivable, prepaid expenses and deposits, accounts payable and accrued liabilities, dividends payable, and the current portion of decommissioning obligations.   Decimus uses Net Debt as a key performance measure to manage the Company's targeted debt levels. The Company believes its presentation of Adjusted Working Capital and Net Debt are useful as supplemental measures because lease liabilities and derivative financial instrument assets and liabilities relate to contractual obligations for future production periods.

Lease payments and cash receipts or settlements on derivative financial instruments are included in Decimus's reported Adjusted Funds Flow in the production month to which the obligation relates.   Net Debt to Adjusted Funds Flow Ratio The Company monitors its capital structure using a " Net Debt to Adjusted Funds Flow Ratio ", which is a non-GAAP financial ratio calculated as the ratio of the Company's Net Debt to its " Annualized Adjusted Funds Flow ". Annualized Adjusted Funds Flow is calculated by multiplying Adjusted Funds Flow for the most recently completed quarter, normalized for significant non-recurring items, by a factor of four.   OTHER MEASUREMENTS   All dollar figures included herein are presented in Canadian dollars, unless otherwise noted.   This press release contains various references to the abbreviation " BOE " which means barrels of oil equivalent. Where amounts are expressed on a BOE basis, natural gas volumes have been converted to oil equivalence at six thousand cubic feet (mcf) per barrel (bbl).

The term BOE may be misleading, particularly if used in isolation. A BOE conversion ratio of six thousand cubic feet per barrel is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead and is significantly different than the value ratio based on the current price of crude oil and natural gas. This conversion factor is an industry accepted norm and is not based on either energy content or current prices.   References to "oil" in this press release include light crude oil and medium crude oil, combined.

National Instrument 51-101 –  Standards of Disclosure for Oil and Gas Activities  (NI 51-101) includes condensate within the product type of "natural gas liquids". References to "natural gas liquids" or "NGLs" include pentane, butane, propane, and ethane. References to "gas" or "natural gas" relates to conventional natural gas.   References to "liquids" includes crude oil, condensate and NGLs.   The Company has disclosed condensate as combined with crude oil and/or separately from other natural gas liquids in this press release since the price of condensate as compared to other natural gas liquids is currently significantly higher and the Company believes that this crude oil and condensate presentation provides a more accurate description of its operations and results.   SHARE CAPITAL Decimus common shares are listed on the Toronto Venture Stock Exchange (" TSX Venture ") and trade under the symbol "WCSB".   As of December 31, 2025, there were 44.6 million common shares outstanding (44.1 million as at December 31, 2024).

There are no preferred shares or special preferred shares outstanding.   The table below summarizes the weighted average number of common shares outstanding (000s) used in the calculation of diluted EPS and diluted AFF per share:      (1)   AFF per share does not have a standardized meaning under IFRS Accounting Standards, refer to "Non-GAAP Measures and Ratios".   Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.   Copyright (c) 2026 TheNewswire - All rights reserved. TheNewsWire April 30, 2026 - 4:15 PM PDT News by QuoteMedia www.quotemedia.com