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September 29, 2025 · Press Release
Announces Provost Well Startup Production
WesCan Energy Corp. is pleased to announce that its recently drilled Provost well (04/15-27-038-03W4/0) has established commercially economic production.
WesCan Energy Corp. is pleased to announce that its recently drilled Provost well (04/15-27-038-03W4/0) has established commercially economic production.
Calgary, Alberta – September 29, 2025 – WesCan Energy Corp. (“WesCan” or the “Company”) is pleased to announce that its recently drilled Provost well (04/15-27-038-03W4/0) has established commercially economic production.
The well, which began production in early September, has transitioned smoothly from initial fluid recovery to consistent oil and gas output. Daily production volumes have shown a steady upward trend, marking a key milestone in the development of this asset.
In addition, WesCan successfully completed a battery turnaround in the Provost area during September, ensuring enhanced operational reliability and production handling capacity.
WesCan’s operations team effectively addressed early-stage challenges—including fluid hauling, foamy oil, and tank level controls—ensuring safe and efficient performance. The well is now delivering commercial oil volumes with improving oil cuts, strengthening the Company’s production base.
“We are very encouraged by the strong start at Provost. Oil and gas rates are trending positively, and our team has done an excellent job optimizing performance in the first month,” said Leo Berezan, President and CEO of WesCan Energy Corp. “This well strengthens our growth trajectory and provides further confidence in our Provost development strategy.”
WesCan will continue to monitor and optimize performance at Provost and is actively advancing two additional drilling targets in the area to build on the early success of the multilateral program.
WesCan Energy Corp. is a Canadian oil and gas exploration and production company focused on the sustainable development of high-quality resource plays in Western Canada. The Company is committed to operational excellence, responsible development, and creating long-term shareholder value.
This press release contains forward-looking information and statements (“forward-looking statements”) within the meaning of applicable securities laws. Forward-looking statements are based on current expectations, assumptions, estimates, and projections that involve a number of risks and uncertainties, many of which are beyond the Company’s control. Forward-looking statements in this release include, but are not limited to, statements regarding future production performance, optimization plans, development opportunities, and the Company’s growth trajectory. Actual results may differ materially from those expressed or implied in the forwardlooking statements due to a variety of factors, including operational risks, commodity price fluctuations, regulatory changes, and other risks described in the Company’s public disclosure documents. Readers are cautioned not to place undue reliance on forward-looking statements. WesCan Energy Corp. undertakes no obligation to update these forward-looking statements except as required by law.
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 NEWS RELEASE.
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.
Specified Financial Measures: This website refers to certain financial measures — including operating netback, net operating income (NOI), and NOI yield — that are not standardized financial measures under IFRS and may not be comparable to similar measures presented by other issuers. Operating netback is calculated as revenue less royalties, operating expenses, and workover costs, and excludes general and administrative expenses and debt service; it is therefore not a measure of free cash flow. Management uses these measures to assess operating performance; they should not be considered in isolation or as a substitute for measures prepared in accordance with IFRS. Refer to the Company’s disclosure filings on SEDAR+ for the composition of these measures and reconciliations to the most directly comparable IFRS measures.
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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