Vancouver, British Columbia--(Newsfile Corp. - March 5, 2026) - CanCambria Energy Corp. (TSXV: CCEC) (FSE: 4JH) (OTCQB: CCEYF) ("CanCambria" or the "Company") is pleased to announce that the Hungarian authority responsible for hydrocarbon exploration activities has approved the Company's technical operating plan for the Kiskunhalas Concession Area ("KCA" or the "Project"), setting forth the commitment and schedule of development activities for the next four years (the "Technical Operating Plan").
"Securing approval of our Technical Operating Plan is an important step in unlocking the strategic value of the KCA," said Paul Clarke, President and CEO. "Given the supply-side concerns and associated commodity prices for natural gas in Europe, we believe this Project represents a meaningful opportunity within the onshore European energy landscape. Furthermore, energy markets are reacting quickly to disruptions in global LNG supply, with European natural gas prices rising significantly in recent days. While the broader geopolitical situation continues to evolve, the underlying takeaway is that Europe continues to place significant value on stable, regional sources of natural gas. Our Project in Hungary is located in a highly strategic part of Central Europe, near established gas infrastructure servicing major European markets. The contiguous size, 100% working interest, favorable tax landscape, and proximity to established infrastructure make the KCA a compelling investment opportunity."
In accordance with the approved Technical Operating Plan, throughout the remainder of 2026, the Company will conduct detailed geological, geophysical, and engineering studies utilizing legacy 2D and 3D seismic data, calibrated against CanCambria's proprietary 3D seismic dataset acquired in 2023 over its adjacent BA-IX mining plot. These studies will also integrate production and well data from more than 300 legacy oil and gas wells in the region.
Pursuant to the approved Technical Operating Plan, the Company will undertake a 3D seismic acquisition program no later than year-end 2027, with a two-well drilling commitment to follow by year-end 2029. The KCA covers approximately 945 km2 and was awarded to the Company in Q1 2025 via a competitive tender process.
The KCA provides the Company with a 100% working interest across all depths and includes both conventional and unconventional resource potential. Upon successful completion of the prescribed work commitment, the KCA will automatically transition to a production license with a 20-year term. The Company reserves the right to, at any point, accelerate the above work program as a function of investment levels and other market and/or commodity pricing considerations.
About the Kiskunhalas Concession Area
The KCA is a strategically located, large-scale asset situated in southern Hungary, within the prolific Pannonian Basin, a region with a long history of conventional hydrocarbon production. At over 230,000 acres, the KCA covers a significant contiguous land position, overlying multiple stacked reservoir targets, characterized by prolific conventional pay, low-permeability sandstone formations, and naturally fractured basement requiring advanced drilling and completions technologies.
The KCA benefits from existing regional infrastructure, including proximity to processing facilities and pipeline networks tied into domestic European gas markets, enhancing future commercialization pathways and lowering potential development lead times. Hungary's supportive regulatory framework and strategic importance within the European energy supply chain further position the concession as a potentially valuable long-term gas resource.
The Company's work to date has focused on the southern portion of the KCA, namely an extension of the Kiskunhalas Trough, where access to legacy seismic datasets provides a strong technical foundation for the extension of the unconventional tight gas accumulation discovered on the Company's BA-IX mining plot. The Company published its estimates of contingent resources in accordance with the requirements of National Instrument 51-101 Standards of Disclosure for Oil and Gas Activities, effective September 30, 2025; details can be downloaded from SEDAR+ (www.sedarplus.ca).
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 significant gas-condensate resource in the heart of Europe.
For additional inquiries, please reach out to:
| Paul Clarke PhD CEO & President paul.clarke@cancambria.com Larry Busnardo VP, Investor Relations larry.busnardo@cancambria.com | Investor Relations - North America KIN Communications Inc. 604-684-6730 ccec@kincommunications.com Email: info@CanCambria.com Website: www.CanCambria.com |
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 commitment and schedule of development activities under the Technical Operating Plan and the Company's exploration plans thereunder and in respect of the KCA, the publishing of the Company's estimates of contingent resources in accordance with the requirements of National Instrument 51-101 - Standards of Disclosure for Oil and Gas Activities along with the filing of its annual financial statements for the year ended December 31, 2025 in April 2026, 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 Company may not be able to complete commitment and schedule of development activities under the Technical Operating Plan and the Company's exploration plans thereunder and in respect of the KCA as contemplated, or at all, risks that the Company may not be able to publish its estimates of contingent resources in accordance with the requirements of National Instrument 51-101 - Standards of Disclosure for Oil and Gas Activities along with the filing of its annual financial statements for the year ended December 31, 2025 as contemplated, or at all. 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.
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Source: CanCambria Energy Corp.
