Vancouver, British Columbia--(Newsfile Corp. - September 22, 2026) - CanCambria Energy Corp. (TSXV: CCEC) (FSE: 4JH) (OTCQB: CCEYF) (" CanCambria " or the " Company ") is pleased to announce that it has entered into an agreement with Research Capital Corporation as the sole agent and sole bookrunner (the " Agent "), in connection with a brokered, best-efforts listed issuer financing exemption private placement offering (the " Offering ") of units of the Company (the " Units ") at a price of CAD$0.30 per Unit (the " Issue Price ") for aggregate gross proceeds of up to CAD$5,000,000.
In connection with the Offering, it is expected that existing shareholders, certain members of management and directors of the Company, together with other President's List investors, will participate in the Offering alongside other investors for aggregate proceeds of up to $700,000.
Each Unit will be comprised of one common share of the Company (a " Common Share ") and one Common Share purchase warrant (a " Warrant "). Each Warrant will entitle the holder to purchase one Common Share at an exercise price of CAD$0.40 for a period of 36 months following the closing of the Offering. In addition, the Company will make commercially reasonable efforts to obtain the necessary approvals to list the Warrants on the TSX Venture Exchange (the " Exchange ").
The Company will grant the Agent an option (the " Agent's Option ") to increase the size of the Offering by up to an additional 15% of the number of Units sold in the Offering, by giving written notice of the exercise of the Agent's Option, or a part thereof, to the Company at any time up to two (2) business days prior to closing of the Offering. Assuming the exercise of the Agent's Option in full, the aggregate gross proceeds to the Company will be CAD$5,750,000.
The Company has a balanced portfolio comprising approximately 1,080 km 2 of contiguous acreage with 100% ownership including (1) strategic deep gas drilling targets, providing exposure to current Dutch Title Transfer Facility (" TTF ") 1 pricing of approximately US$23.00/MMBtu, comprising over 15 years of drilling inventory and (2) multiple shallow oil-weighted seismically defined prospects in a fairway that offers optionality to develop bolt-on, rapid cycle-time opportunities supported by Brent-indexed oil prices of approximately US$100/bbl.
The net proceeds from the Offering will be used to delineate and de-risk 10 identified shallow oil prospects and advance the drilling of the Company's top-ranked prospect(s). This will be underpinned by the acquisition of a new, state-of-the-art, proprietary 3D seismic survey covering the Soltvadkert/Tazlar/Alpar Shallow Oil Fairway (" STA Fairway ") in Southern Hungary, with a portion of the proceeds also made available for general corporate purposes. This survey is designed to reduce pre-drill uncertainties and geologic risks related to prospect geometry, resource size, reservoir distribution, and well placement, providing the technical foundation for prospect maturation and drilling decisions.
The planned 3D seismic survey is expected to materially improve structural image and reservoir-scale definition across the STA Fairway, bringing prospects identified from legacy wells and vintage 2D seismic programs into a modern, consistent 3D subsurface framework. When calibrated to regional well control, the new data are expected to sharpen trap and fault definition, improve mapping of reservoir extent and continuity, enable quantitative seismic analysis, and increase confidence in prospect ranking and well placement.
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STA Fairway High-Impact Exploration Oil Play Overview
The Company has identified a trend area of approximately 350 km² (86,500 acres) covering the northern portion of the extensive, contiguous 100%-owned Kiskunhalas Concession Area (" KCA ") awarded in 2025, where undeveloped potential has been recognized for both conventional and unconventional hydrocarbon accumulations (see map). The STA Fairway is supported by neighboring analog fields that have collectively produced over 160 million barrels of oil equivalent (MMBOE) 2 underscoring the region's resource potential. The planned 3D seismic survey is expected to enhance subsurface imaging, support prospect appraisal, and further refine future exploration and development opportunities across the STA Fairway.
Kiskunhalas Concession Area Acreage Overview
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Highlights of the STA Fairway include:
High-impact oil opportunity within CanCambria's 100%-owned KCA, encompassing 233,000 acres in southern Hungary, complementing the Company's flagship deep tight-gas project.
Undeveloped potential, with both conventional and unconventional, oil-weighted accumulations identified across the fairway.
Diversified portfolio of ten oil prospects, supporting a repeatable and scalable development model and providing flexible capital allocation over time, with mean targeted field sizes of 15 MMBOE per prospect with an upside case of up to 25 MMBOE per prospect from area analogs.
Potential for value creation, with each oil prospect targeting mean prospective net revenue of up to US$567 million, net of royalties and taxes 3 , providing exposure to a multi-billion-dollar resource value.
New proprietary 3D seismic program will refine pre-drill prospect definition and optimize well locations, followed by the drilling of low-cost, rapid-cycle oil opportunities, leveraging existing regional infrastructure.
Extensive well control, with more than 400 legacy wells drilled across the KCA , supporting cumulative production from neighboring analog fields that have collectively produced over 160 MMBOE 2 from 15 fields , underscoring the region's demonstrated resource potential.
Multiple stacked reservoirs and favorable reservoir characteristics with produced oil ranging from 22° to 40° API gravity , including Pannonian sandstone reservoirs exhibiting porosity of up to 20%, supporting seismic driven characterization (direct hydrocarbon indicators).
Up to 50 vertical well locations identified within the Company's existing prospect inventory.
Low-cost, conventional development with estimated vertical well costs of approximately US$2.75 million per well.
Horizontal drilling applications are expected to further enhance field development economics, especially in basement tight zones, increasing recovery factors and overall project returns for a relatively modest increase in per-well capital costs.
Independent third-party resource report expected in Q1 2027, leveraging the existing well data and the new 3D seismic survey.
Kiskunhalas Deep Gas Project Overview (100% Working Interest)
One of Europe's largest onshore, undeveloped gas prospects, with near-term commercial testing planned. This asset provides the opportunity for repeatable, production growth and free cash generation and is located on the Ba-IX mining plot.
2C Contingent Resources "Development Pending" sub-class of 571.9 Bcf and 59.6 MMbbl (net risked recoverable). 4
Combined best estimate 2C contingent resources (all classes) for the area under ownership net to the Company of 1.1 trillion cubic feet of natural gas and 116.6 million barrels of condensate petroleum in place.
NPV10 of US$2.04 billion for 2C Development Pending sub-class, risked case; incorporates a long-term European natural gas price of $12.00/MMBtu (TTF 1 ):
European natural gas day-ahead spot prices are currently approximately US$23.00/MMBtu (TTF 1 ), while the six-month trailing average exceeds US$15.00/MMBtu, as does the trailing 5-year average.
The field development model has first production commencing mid-2027 and full field development increasing in 2028 (to six wells per year) with an inventory of 112 wells.
Joint Venture Process for the Kiskunhalas Deep Gas Project
The Company continues to advance its joint venture process for the Kiskunhalas, tight-gas project, with the objective of securing a strategic (joint venture) partner to fund the initial drilling and development program. The joint venture process is targeted to be completed by year-end 2026, with development drilling expected to commence in early 2027, positioning the company to unlock value from this large-scale resource. As one of the largest undeveloped onshore natural gas projects in Central Europe, the Kiskunhalas Project is well positioned to benefit from Europe's growing focus on secure domestic energy supplies and strong natural gas prices.
Additional Details of the Offering
A portion of the Units will be offered for sale pursuant to the listed issuer financing exemption under Part 5A of National Instrument 45-106 - Prospectus Exemptions (" NI 45-106 "), as amended by CSA Coordinated Blanket Order 45-935 - Exemptions from Certain Conditions of the Listed Issuer Financing Exemption (collectively, the " Listed Issuer Financing Exemption "), in all provinces of Canada, except Quebec. The securities sold to purchasers resident in Canada under the Listed Issuer Financing Exemption are expected to be immediately freely tradeable in accordance with applicable Canadian securities legislation. A portion of the Units will also be offered in the United States or to, or for the account or benefit of, U.S. persons, by way of private placement pursuant to the exemptions from the registration requirements provided for under the United States Securities Act of 1933, as amended (the " U.S. Securities Act "), and in jurisdictions outside of Canada and the United States on a private placement or equivalent basis, in each case in accordance with all applicable laws, provided that no prospectus, registration statement or other similar document is required to be filed in such jurisdiction. The securities offered to purchasers outside of Canada will be sold pursuant to the Listed Issuer Financing Exemption.
There is an offering document (the " Offering Document ") related to this Offering that can be accessed under the Company's profile at www.sedarplus.ca and on the Company's website at www.cancambria.com . Prospective investors should read this Offering Document before making an investment decision. The closing of the Offering is expected to occur on or about the week of October 8, 2026 (the " Closing "), or on such date as the Agent and Company may agree upon. Closing is subject to the Company receiving all necessary regulatory approvals, including the conditional approval of the Exchange.
The Agent will receive a cash commission of 7.0% of the aggregate gross proceeds of the Offering and such number of broker warrants (the " Broker Warrants ") as is equal to 7.0% of the number of Units sold under the Offering (in each case, subject to reduction for certain subscribers on a president's list of purchasers identified by the Company). Each Broker Warrant entitles the holder to purchase one Unit at an exercise price equal to the Issue Price for a period of 36 months following the Closing.
This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful, including any of the securities in the United States of America. The securities referred to in this news release have not been, and will not be, registered under the U.S. Securities Act or any U.S. state securities laws, and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons, absent registration or any applicable exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws.
1 Dutch TTF (Title Transfer Facility) natural gas benchmark prices used by Chapman Hydrogen and Petroleum Engineering Ltd. (" CHPE ") in the Resources Report (as defined below) are converted from EUR/MWh to US$/MMBtu using the applicable EUR/USD currency exchange rate and a conversion factor of 1 MWh = 3.412 MMBtu . Commodity price assumptions are expressed in US$ / MMBtu throughout the report for consistency.
2 Reference: Hydrocarbons in Hungary, 2018. Edited by Z. Kovacs. ISBN: 978-615-00-2313-8 (independent source for production data reported in the KCA region).
3 Legacy Field Size Distribution Analysis: PMean (Swanson) field size of 15 MMBOE. Revenue valuation of US$567 million at $70/bbl oil, net of royalty & tax at 46%. Base case of 1.5 MMBOE corresponds to P50. Combined with creaming curve trend over time, exploration success via application of 3D seismic is constrained to 25 MMBOE.
4 Contingent resource volumes in the independent resource evaluation report, dated July 1, 2026, and effective as of June 30, 2026, prepared by CHPE, an independent and qualified reserves evaluator, in accordance with the Canadian Oil and Gas Evaluation (COGE) Handbook (the " Resources Report ") have been assigned an 80% chance of development by CHPE. With respect to development pending risked contingent resources, there can be no certainty that the project will be developed on the timelines outlined within the Resource Report. This chance of development risk factor is an aggregation of risk factors attributable to the identified contingencies. There is uncertainty that it will be commercially viable to produce any portion of the reported contingent resources volumes.
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 the industry's most advanced technologies the Company aims to commercialize their flagship asset, the 100% owned Kiskunhalas project in southern Hungary, a gas-condensate resource in the heart of Europe.
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CAUTIONARY NOTE ON FORWARD-LOOKING INFORMATION
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" within the meaning of applicable Canadian securities laws (collectively, "forward-looking information"). Without limiting the foregoing, such forward-looking information includes statements regarding the closing of the Offering, the anticipated closing date of the Offering, the intended use of proceeds from the Offering, the filing of the Offering Document and the receipt of regulatory approvals for the Offering; statements regarding the Company's planned operations, and anticipated benefits therefrom; statements regarding the STA Fairway, including, without limitation, the undeveloped potential of the STA Fairway, the advancement of the technical evaluation of opportunities, the Company's acquisition of its own 3D seismic survey and the expected benefits therefrom to enhance subsurface imaging, support prospect maturation and refine future exploration and development opportunities, the Company's acquisition of such survey targeted for 2H, 2026, the receipt of necessary regulatory approvals and the anticipation of drilling in 2027; the Company's provision of prospective resource disclosure in an National Instrument NI 51-101 - Standards of Disclosure for Oil and Gas Activities (" NI 51-101 ") report and the Company's focus on high-quality, de-risked projects with direct access to profitable markets and the 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, including, without limitation, risks that the Offering may not be completed as contemplated, or at all; risks that the intended use of proceeds from the Offering may not be used as contemplated; risks that the Offering Document may not be made available as contemplated; risks that regulatory approvals for the Offering may not be received as contemplated, or at all; risks that the Company's planned operations may not be completed as contemplated, or at all, or that the anticipated benefits from the Company's planned operations may not be realized as anticipated, or at all; risks that the Company's plans for the STA fairway may not be completed as contemplated, or at all; risks that the Company's acquisition of its own 3D seismic survey over the STA Fairway may not be completed as contemplated, or at all; risks that the Company may not receive necessary regulatory approvals; risks that the Company may not provide prospective resource disclosure in an NI 51-101 report as contemplated, or at all; risks that the Company may not be able to carry out its exploration plans as contemplated, or at all and risks related to the Company's business plans, expectations, capital costs and objectives. 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.
This news release contains future oriented financial information and financial outlook information (collectively, " FOFI ") (including, without limitation, statements regarding expected project break-even costs and are subject to the same assumptions, risk factors, limitations and qualifications as set forth in the above paragraph. The FOFI has been prepared by management to provide an outlook of the Company's activities and prospects, and such information may not be appropriate for other purposes. The Company and management believe that the FOFI has been prepared on a reasonable basis, reflecting management's reasonable estimates and judgments, however, actual results of operations of the Company and the resulting financial results may vary from the amounts set forth herein. Any FOFI speaks only as of the date on which it is made and the Company disclaims any intent or obligation to update any FOFI, whether as a result of new information, future events or results or otherwise, unless required by applicable laws.
ANALOGOUS INFORMATION
Information in this news release regarding information relating to the proven hydrocarbon basin, including the basin's historical production based on other industry participants' recovery from such basin, in geographical proximity to properties that are or may be held by the Company, may constitute "analogous information" within the meaning of NI 51-101. This information is derived from publicly available information sources (as at the date of this news release), including independent government sources, regulatory agencies, or other industry participants that the Company believes (but cannot confirm) to be independent in nature. The Company is unable to confirm that the information was prepared by a qualified reserves evaluator or auditor within the meaning of NI 51-101, or in accordance with the Canadian Oil and Gas Evaluation (COGE) Handbook. Although the Company believes that this information regarding the oil and gas fields located within and adjacent to the KCA helps management understand and define reservoir characteristics of lands in which the Company has an interest or may hold an interest, the data relied upon by the Company may be inaccurate or erroneous, may not, in fact be indicative of or otherwise analogous to the Company's land holdings, and may not be representative of actual results from wells that may be drilled or completed by the Company in the future. Such information is not an estimate of the reserves, resources, or asset characteristics attributable to properties held or potentially to be held by the Company, and there is no certainty that the reservoir data and economic information for the properties held or potentially to be held by the Company will be similar to the information presented in this news release.
OIL AND GAS INFORMATION ADVISORIES
The disclosure in this news release summarizes certain information contained in the Resources Report but represents only a portion of the disclosure required under NI 51-101. Full disclosure with respect to the Company's resources will be contained in the Company's Form 51-101F1 for the year ended December 31, 2026 which will be filed on SEDAR+ ( www.sedarplus.com ). All estimates of net present values in this news release are based on estimates of future operating and capital costs and CHPE's forecast prices as of July 1, 2026 and have been made assuming the development of each property in respect of which the estimate is made will occur, without regard to the likely availability to the Company of funding required for that development. The reserves and resource definitions used in this evaluation are the standards defined by the Canadian Oil and Gas Evaluation Handbook (COGE) reserve definitions, are consistent with NI 51-101 and are used by CHPE. The net present values of future net revenue attributable to the KCA resources estimated by CHPE do not represent the fair market value of those resources. Other assumptions and qualifications relating to costs, prices for future production, and other matters are summarized herein.
The Resources Report evaluated the Company's interest in the BA-IX Mining License and the KCA. Contingent resources are those quantities of petroleum estimated, as of a given date, to be potentially recoverable from known accumulations by the application of development projects, but which are not currently considered to be commercially recoverable due to one or more contingencies. Contingencies may include factors such as economic, legal, environmental, political and regulatory matters or a lack of markets. It is also appropriate to classify as contingent resources the estimated discovered recoverable quantities associated with a project in the early evaluation stage. The contingent resources volumes estimated in the Resources Report are considered contingent until such time as there are additional delineation wells confirming reservoir quality and continuity, refinement of the commercial development plan, regulatory approval for full field development, corporate commitment to move forward and financing for commercial development. Contingent resources are further classified in accordance with the level of certainty associated with the estimates as described below and may be subclassified based on project maturity and/or characterized by their economic status. Contingent resources are further classified as "High", "Best" and "Low" in accordance with the level of certainty.
The contingent resources estimated in the Resources Report are classified as "economic contingent resources", which are those contingent resources that are currently economically recoverable. All such resources are further sub-classified with a project status of "development pending", meaning that resolution of the final conditions for development are being actively pursued. The recovery estimates of the Company's contingent resources provided herein are estimates only and there is no guarantee that the estimated resources will be recovered. There is uncertainty that it will be commercially viable to produce any portion of the resources. Actual recovered resources may be greater than or less than the estimates provided herein.
Abbreviations
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