New Risk • May 19
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 19% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 3.4% per year over the past 5 years. Minor Risk Shareholders have been diluted in the past year (19% increase in shares outstanding). Recent Insider Transactions • May 11
Independent Director recently bought CA$205k worth of stock On the 6th of May, Raymond Hyer bought around 250k shares on-market at roughly CA$0.82 per share. This transaction amounted to 1.2% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought CA$225k more in shares than they have sold in the last 12 months. Anuncio • May 07
Coelacanth Energy Inc. has completed a Follow-on Equity Offering in the amount of CAD 80.000004 million. Coelacanth Energy Inc. has completed a Follow-on Equity Offering in the amount of CAD 80.000004 million.
Security Name: Common Shares
Security Type: Common Stock
Securities Offered: 97,560,980
Price\Range: CAD 0.82
Discount Per Security: CAD 0.041
Transaction Features: Regulation S; Rule 144A Reported Earnings • Apr 22
Full year 2025 earnings released: CA$0.02 loss per share (vs CA$0.017 loss in FY 2024) Full year 2025 results: CA$0.02 loss per share (further deteriorated from CA$0.017 loss in FY 2024). Revenue: CA$25.2m (up 129% from FY 2024). Net loss: CA$11.0m (loss widened 24% from FY 2024). Over the last 3 years on average, earnings per share has increased by 4% per year whereas the company’s share price has increased by 5% per year. Anuncio • Apr 19
Coelacanth Energy Inc. has filed a Follow-on Equity Offering in the amount of CAD 60 million. Coelacanth Energy Inc. has filed a Follow-on Equity Offering in the amount of CAD 60 million.
Security Name: Common Shares
Security Type: Common Stock
Securities Offered: 73,170,732
Price\Range: CAD 0.82
Discount Per Security: CAD 0.041
Transaction Features: Rule 144A Anuncio • Mar 30
Coelacanth Energy Inc., Annual General Meeting, Jun 03, 2026 Coelacanth Energy Inc., Annual General Meeting, Jun 03, 2026. Location: alberta, calgary Canada New Risk • Mar 08
New minor risk - Insider selling There has been significant insider selling in the company's shares over the past 3 months. Total value of shares sold: CA$434k This is considered a minor risk. There are several reasons why an insider may be selling, including to cover a tax obligation or pay for some other expense. However, we generally consider it a negative if insiders have been selling, especially if they do so below the current price. It implies that they considered a lower price to be reasonable. This is a weak signal, but if there is a pattern of unexplained selling, it can be a sign the insider believes the company's stock is overpriced. Note: We only include open market transactions and private dispositions of directly owned stock by individuals, not by corporations or trusts. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-CA$104m free cash flow). Earnings have declined by 2.0% per year over the past 5 years. Minor Risk Significant insider selling over the past 3 months (CA$434k sold). Recent Insider Transactions • Jan 28
President recently sold CA$226k worth of stock On the 23rd of January, Robert Zakresky sold around 290k shares on-market at roughly CA$0.78 per share. This transaction amounted to 1.5% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. This was Robert's only on-market trade for the last 12 months. Anuncio • Dec 09
A group of undisclosed buyers acquired 5.70% stake in Coelacanth Energy Inc. (TSXV:CEI) from Vermilion Energy Inc. (TSX:VET) for $22.8 million. A group of undisclosed buyers acquired 5.70% stake in Coelacanth Energy Inc. (TSXV:CEI) from Vermilion Energy Inc. (TSX:VET) for CAD 22.8 million on December 8, 2025. A cash consideration valued at CAD 0.76 per share will be paid by the buyer. Upon completion of the transaction Vermilion has ownership, control and direction over an aggregate of 80.179104 million Common Shares, representing approximately 15.0% of the issued and outstanding Common Shares.
A group of undisclosed buyers completed the acquisition of 5.70% stake in Coelacanth Energy Inc. (TSXV:CEI) from Vermilion Energy Inc. (TSX:VET) on December 8, 2025. New Risk • Nov 21
New major risk - Revenue and earnings growth Earnings have declined by 2.0% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-CA$104m free cash flow). Earnings have declined by 2.0% per year over the past 5 years. Reported Earnings • Nov 21
Third quarter 2025 earnings released: CA$0.007 loss per share (vs CA$0.005 loss in 3Q 2024) Third quarter 2025 results: CA$0.007 loss per share. Revenue: CA$9.05m (up 357% from 3Q 2024). Net loss: CA$1.76m (loss narrowed 28% from 3Q 2024). Revenue is forecast to grow 149% p.a. on average during the next 2 years, compared to a 3.4% growth forecast for the Oil and Gas industry in Canada. Reported Earnings • Aug 27
Second quarter 2025 earnings released: CA$0.01 loss per share (vs CA$0.004 loss in 2Q 2024) Second quarter 2025 results: CA$0.01 loss per share (further deteriorated from CA$0.004 loss in 2Q 2024). Net loss: CA$3.46m (loss widened 49% from 2Q 2024). Revenue is forecast to grow 132% p.a. on average during the next 2 years, compared to a 3.3% growth forecast for the Oil and Gas industry in Canada. Over the last 3 years on average, earnings per share has increased by 34% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. Price Target Changed • May 30
Price target decreased by 71% to CA$1.29 Down from CA$4.48, the current price target is an average from 4 analysts. New target price is 45% above last closing price of CA$0.89. Stock is up 14% over the past year. The company posted a net loss per share of CA$0.017 last year. Reported Earnings • May 29
First quarter 2025 earnings released: CA$0.01 loss per share (vs CA$0.002 loss in 1Q 2024) First quarter 2025 results: CA$0.01 loss per share (further deteriorated from CA$0.002 loss in 1Q 2024). Net loss: CA$3.62m (loss widened 201% from 1Q 2024). Revenue is forecast to grow 108% p.a. on average during the next 2 years, compared to a 2.3% growth forecast for the Oil and Gas industry in Canada. Price Target Changed • May 16
Price target increased by 241% to CA$4.48 Up from CA$1.31, the current price target is an average from 4 analysts. New target price is 452% above last closing price of CA$0.81. Stock is up 2.5% over the past year. The company posted a net loss per share of CA$0.017 last year. Anuncio • Mar 31
Coelacanth Energy Inc., Annual General Meeting, Jun 05, 2025 Coelacanth Energy Inc., Annual General Meeting, Jun 05, 2025. Location: alberta, calgary Canada Recent Insider Transactions • Jan 22
President recently sold CA$1.3m worth of stock On the 16th of January, Robert Zakresky sold around 2m shares on-market at roughly CA$0.81 per share. This transaction amounted to 8.3% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. This was Robert's only on-market trade for the last 12 months. Price Target Changed • Nov 22
Price target increased by 11% to CA$1.31 Up from CA$1.18, the current price target is an average from 4 analysts. New target price is 75% above last closing price of CA$0.75. Stock is down 5.1% over the past year. The company posted a net loss per share of CA$0.015 last year. New Risk • Nov 21
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -CA$70m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. This is currently the only risk that has been identified for the company. Anuncio • Oct 09
Coelacanth Energy Inc. Commences 4-Well Drilling Program At Two Rivers East Coelacanth Energy Inc. announced that it has secured a $52 million bank credit facility and has commenced a 4-well drilling program at Two Rivers East. Two Rivers East PRO project: Coelacanth has commenced drilling on the 5-19 Pad at Two Rivers East with the first well spud on September 1st. The complete program consists of drilling and completing 3 Lower Montney wells, completing 1 previously drilled Upper Montney well, and drilling a Bluesky disposal well for a total cost of approximately $36 million. The 4 pad wells are scheduled to be completed starting late October 2024. As previously released, the three 5-19 Lower Montney wells drilled in 2023 had tested at a per well average of 1,338 boe/d for a combined rate of 4,014 boe/d (54% light oil). The program above will be additive to this once the Two Rivers East facility is constructed and on-stream in April 2025. The Upper Montney has not produced in the immediate area but has been very prolific in the greater region. Management is looking forward to proving up the commerciality of this zone in the area as well as establishing expected oil/gas production mix. Recent Insider Transactions Derivative • Sep 15
VP of Operations & COO exercised options to buy CA$73k worth of stock. On the 11th of September, Bret Kimpton exercised options to buy 92k shares at a strike price of around CA$0.78, costing a total of CA$71k. This transaction amounted to 10% of their direct individual holding at the time of the trade. Since September 2023, Bret's direct individual holding has increased from 111.98k shares to 908.30k. Company insiders have collectively bought CA$7.5m more than they sold, via options and on-market transactions, in the last 12 months. Reported Earnings • Aug 30
Second quarter 2024 earnings released: CA$0.013 loss per share (vs CA$0.005 loss in 2Q 2023) Second quarter 2024 results: CA$0.013 loss per share (further deteriorated from CA$0.005 loss in 2Q 2023). Net loss: CA$2.33m (loss widened 7.6% from 2Q 2023). Reported Earnings • Jun 04
First quarter 2024 earnings released First quarter 2024 results: Net loss: CA$1.20m (loss narrowed 33% from 1Q 2023). Revenue is forecast to grow 90% p.a. on average during the next 3 years, compared to a 5.5% growth forecast for the Oil and Gas industry in Canada. Reported Earnings • Apr 18
Full year 2023 earnings released: CA$0.01 loss per share (vs CA$0.031 loss in FY 2022) Full year 2023 results: CA$0.01 loss per share (improved from CA$0.031 loss in FY 2022). Net loss: CA$6.57m (loss narrowed 41% from FY 2022). Revenue is forecast to grow 81% p.a. on average during the next 3 years, compared to a 5.3% growth forecast for the Oil and Gas industry in Canada. Anuncio • Mar 29
Coelacanth Energy Inc., Annual General Meeting, May 30, 2024 Coelacanth Energy Inc., Annual General Meeting, May 30, 2024. Anuncio • Feb 29
Vermilion Energy Inc. (TSX:VET) acquired 2.36% stake in Coelacanth Energy Inc. (TSXV:CEI) for $9.4 million. Vermilion Energy Inc. (TSX:VET) acquired 2.36% stake in Coelacanth Energy Inc. (TSXV:CEI) for $9.4 million on February 27, 2024. Vermilion Energy paid $0.75 in cash for each common share of Coelacanth Energy.
Vermilion Energy Inc. (TSX:VET) completed the acquisition of 2.36% stake in Coelacanth Energy Inc. (TSXV:CEI) on February 27, 2024. Recent Insider Transactions Derivative • Feb 10
VP of Operations & COO exercised options to buy CA$75k worth of stock. On the 2nd of February, Bret Kimpton exercised options to buy 100k shares at a strike price of around CA$0.68, costing a total of CA$68k. This transaction amounted to 12% of their direct individual holding at the time of the trade. Since September 2023, Bret's direct individual holding has increased from 111.98k shares to 736.98k. Company insiders have collectively bought CA$7.4m more than they sold, via options and on-market transactions, in the last 12 months. Anuncio • Jan 18
Coelacanth Energy Inc. Announces Operations Update Coelacanth Energy Inc. announced that it has completed and tested 4 wells at its Two Rivers East Project including 3 Lower Montney Wells and 1 Basal Montney well on the 5-19 pad. The 3 Lower Montney wells (C5-19, D5-19, E5-19) were drilled with an average horizontal length of 3,140 metres and completed with approximately 2.5 tonnes of sand per horizontal metre. Drilling and completion costs came in slightly under budget at approximately $9.0 million per well. The wells were placed on test for clean-up for an average of 10 days until the frac water substantially dissipated and a stabilized rate was achieved. The test rates noted below are based on the final 24 hours of each test. The average rate achieved for the 3 Lower Montney wells was 1,338 boe/d per well comprised of 729 bbls/d of 39 API light sweet oil and 3.7 mmcf/d of liquids-rich gas. The rates per well were similar as outlined in the table below: Well, Oil - bbls/d, Gas - mmcf/d, Total - boe/d, % Light Oil, C5-19, 818, 3.2, 1,345, 61, D5-19, 527, 4.2, 1,222, 43, E5-19, 841, 3.6, 1,448, 58, Average, 729, 3.7, 1,338, 54. Board Change • Dec 31
High number of new and inexperienced directors There are 6 new directors who have joined the board in the last 3 years. The company's board is composed of: 6 new directors. No experienced directors. No highly experienced directors. President, CEO & Director Rob Zakresky is the most experienced director on the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Recent Insider Transactions • Nov 19
Independent Director recently bought CA$3.4m worth of stock On the 15th of November, Raymond Hyer bought around 4m shares on-market at roughly CA$0.80 per share. This transaction amounted to 26% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought CA$7.1m more in shares than they have sold in the last 12 months. Anuncio • Nov 18
Coelacanth Energy Inc. announced that it has received CAD 1.5 million in funding On November 17, 2023, Coelacanth Energy Inc., closed the transaction. Price Target Changed • Nov 18
Price target increased by 11% to CA$1.31 Up from CA$1.19, the current price target is an average from 4 analysts. New target price is 64% above last closing price of CA$0.80. Stock is down 10% over the past year. The company posted a net loss per share of CA$0.031 last year. New Risk • Oct 29
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 24% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-CA$30m free cash flow). Revenue has declined by 26% over the past year. Minor Risks Less than 3 years of financial data is available. Shareholders have been diluted in the past year (24% increase in shares outstanding). Revenue is less than US$5m (CA$4.0m revenue, or US$2.9m). Anuncio • Oct 26
Coelacanth Energy Inc. Announces That It Has Completed 2 Wells At Two Rivers West and Has Finished the Drilling of A 5-Well Pad At Two Rivers East Coelacanth Energy Inc. announced that it has completed 2 wells at Two Rivers West and has finished the drilling of a 5-well pad at Two Rivers East. Two Rivers WEST PROJECT. Coelacanth has completed the 2 Upper Montney wells on its 10-08 pad at Two Rivers West and recently placed the first well (C10-08) on production at a rate of 542 boe/d comprised of 225 bbls/d of 42 API light oil, 1.75 mmcf/d of liquids-rich gas, and approximately 26 bbls/d of NGLs. Coelacanth anticipates that production of hydrocarbons will incline as excess initial frac and formation water are pumped and disposed. To facilitate this, consideration is being given to increasing water pumping capacity at the Two Rivers West battery. The second well (B10-08) was flowed to remove some of the initial frac water and then shut in to focus on the C10-08 well. Coelacanth will flow both wells once additional pump capacity is installed at the facility and the water rate on the C10-08 declines as a result of additional frac water being produced out. Coelacanth will continue to disseminate information on this project when more material information is gathered. Two Rivers East PRO project. Coelacanth has finished the drilling of its 5- well pad at Two Rivers East that is comprised of 3 Lower Montney Wells, 1 Upper Montney Well and 1 Basal Montney Well. Completion and testing is scheduled for Mid-November. The 5-19 pad is directly offsetting a Lower Montney well on the pad site that was drilled and tested in 2018 and in proximity to new Lower Montney wells drilled and completed by a nearby operator using modern completion technology. The operator publicly released results of its 2-well Lower Montney pad that had an average per well IP30 of 1,250 boe/d (49% light oil and 2% NGLs) and later updated that the pad was producing flat at that rate for its initial four months with an average 40% liquids. This is above the type curve provided by independent reserves evaluator (GLJ Ltd.) for the Lower Montney. Coelacanth intends to use similar completion technology for its 5-well pad. The Company is in the process of obtaining final regulatory approval to construct an oil battery and compression station (the "Two Rivers East Facility") as well as sales lines and gathering lines to handle production from the 5-19 and subsequent pads. It is anticipated that the Two Rivers East Facility and related pipelines will be completed for an on-stream date in early 2025 and will be sized to handle over 20,000 boe/d by adding compression as needed. The completion and testing of the 5 wells will be a big first step on proving up and quantifying estimated value on the Company's large Montney land block of over 150 contiguous sections. Oil equivalent refers to the total oil equivalent of shale gas, tight oil, and NGLs combined, using the conversion rate of six thousand cubic feet of shale gas to one barrel of oil equivalent as described above. Recent Insider Transactions Derivative • Sep 22
VP of Operations & COO exercised options to buy CA$81k worth of stock. On the 18th of September, Bret Kimpton exercised options to buy 92k shares at a strike price of around CA$0.81, costing a total of CA$74k. This transaction amounted to 451% of their direct individual holding at the time of the trade. Since December 2022, Bret has owned 20.32k shares directly. Company insiders have collectively bought CA$190k more than they sold, via options and on-market transactions, in the last 12 months. Reported Earnings • Aug 25
Second quarter 2023 earnings released: CA$0.01 loss per share (vs CA$0.025 loss in 2Q 2022) Second quarter 2023 results: CA$0.01 loss per share (improved from CA$0.025 loss in 2Q 2022). Net loss: CA$2.17m (loss narrowed 73% from 2Q 2022). Anuncio • Jul 22
Coelacanth Energy Inc. Announces the Appointment of Bret Kimpton as Chief Operating Officer Coelacanth Energy Inc. announced that as part of a transition and succession plan outlined in a press release dated September 8, 2022, Terry Trudeau, has relinquished his role as Coelacanth's Chief Operating Officer. In conjunction with Mr. Trudeau's resignation, Coelacanth announced the appointment of Bret Kimpton as Chief Operating Officer, in addition to his current role as Vice President, Operations. Reported Earnings • May 26
First quarter 2023 earnings released First quarter 2023 results: Net loss: CA$1.79m (loss widened 16% from 1Q 2022). Recent Insider Transactions • Jul 01
Independent Director recently bought CA$977k worth of stock On the 28th of June, Raymond Hyer bought around 2m shares on-market at roughly CA$0.56 per share. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought CA$996k more in shares than they have sold in the last 12 months. 
