Wescan Energy Corp. is pleased to announce that drilling operations have commenced on a multilateral horizontal oil well located in the Provost area of east-central Alberta.
Calgary, Alberta – July 31, 2025 – Wescan Energy Corp. ("Wescan" or the "Company") is pleased to announce that drilling operations have commenced on a multilateral horizontal oil well located in the Provost area of east-central Alberta.
The well, which was spud on July 30th, is part of Wescan’s 2025 capital program targeting low-risk, oil development opportunities in the Mannville Group. This multilateral well is designed with multiple horizontal legs to efficiently access pay zone and improve recovery factors while minimizing surface footprint and drilling costs.
“This is a key milestone in our development strategy and reflects our continued focus on maximizing capital efficiency and production growth,” said Leo Berezan, Chief Executive Officer of Wescan Energy Corp. “The Provost area remains a cornerstone of our asset base, and this well represents our ongoing commitment to unlocking its full potential.”
The Company expects the well to be drilled and completed over the coming weeks, with first production anticipated in September 2025. Results will be disclosed once the well has been brought on stream and stabilized.
Wescan continues to advance its operational and financial initiatives with a focus on sustainable, pershare growth, and value creation for shareholders.
Wescan Energy Corp. is a Canadian junior oil and gas company engaged in the exploration, development, and production of light oil in Alberta. The Company’s strategy is centered on disciplined capital deployment, operational efficiency, and organic growth through development drilling and optimization.
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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.
This website contains forward-looking information within the meaning of applicable Canadian securities legislation. Forward-looking information includes statements regarding future production rates, drilling plans, capital expenditures, reserve estimates, operating costs, and corporate strategy. Such statements involve known and unknown risks, uncertainties, and other factors that may cause actual results to differ materially from those anticipated, including commodity price volatility, exchange rate fluctuations, regulatory changes, geological risk, and the ability to obtain financing. Readers are cautioned not to place undue reliance on forward-looking information. WesCan Energy Corp. assumes no obligation to update forward-looking information except as required by applicable securities legislation. BOE conversions are based on 6 Mcf = 1 BOE, which may not reflect actual energy equivalency. Reserve estimates are based on McDaniel & Associates March 2025 evaluation of the Provost area.
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Oil & Gas Advisory: Reserve estimates and related information on this website are derived from an independent reserves evaluation prepared by McDaniel & Associates Consultants Ltd. with an effective date of March 2025, prepared in accordance with National Instrument 51-101 – Standards of Disclosure for Oil and Gas Activities and the Canadian Oil and Gas Evaluation (COGE) Handbook. Reserve estimates are based on forecast prices and costs assumptions and are estimates only; actual reserves may be greater than or less than the estimates provided, and the estimated values do not represent fair market value. Net present values (including NPV10) are calculated using a 10% discount rate and do not necessarily represent fair market value. The reserves evaluation predates the Company’s subsequent operational activity and does not reflect results after its effective date.
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