Announcement • Jun 30
Lycos Energy Inc., Annual General Meeting, Sep 02, 2026 Lycos Energy Inc., Annual General Meeting, Sep 02, 2026. Price Target Changed • Jun 30
Price target decreased by 7.5% to CA$2.60 Down from CA$2.81, the current price target is an average from 5 analysts. New target price is 72% above last closing price of CA$1.51. Stock is up 21% over the past year. The company posted a net loss per share of CA$0.93 last year. Reported Earnings • May 27
First quarter 2026 earnings released: CA$0.04 loss per share (vs CA$0.045 profit in 1Q 2025) First quarter 2026 results: CA$0.04 loss per share (down from CA$0.045 profit in 1Q 2025). Revenue: CA$8.45m (down 68% from 1Q 2025). Net loss: CA$2.01m (down 185% from profit in 1Q 2025). Revenue is forecast to grow 28% p.a. on average during the next 2 years, compared to a 4.2% growth forecast for the Oil and Gas industry in Canada. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 103 percentage points per year, which is a significant difference in performance. Price Target Changed • Apr 23
Price target increased by 16% to CA$2.46 Up from CA$2.12, the current price target is an average from 5 analysts. New target price is 6.0% above last closing price of CA$2.32. Stock is up 32% over the past year. The company posted a net loss per share of CA$0.93 last year. Reported Earnings • Apr 09
Full year 2025 earnings released: CA$0.93 loss per share (vs CA$0.017 loss in FY 2024) Full year 2025 results: CA$0.93 loss per share (further deteriorated from CA$0.017 loss in FY 2024). Revenue: CA$70.5m (down 48% from FY 2024). Net loss: CA$49.6m (loss widened CA$48.7m from FY 2024). Revenue is forecast to grow 6.1% p.a. on average during the next 3 years, compared to a 4.0% growth forecast for the Oil and Gas industry in Canada. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 96 percentage points per year, which is a significant difference in performance. Board Change • Apr 08
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 5 non-independent directors. Independent Director Bruce Beynon was the last independent director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. New Risk • Mar 31
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 103% This is considered a major 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 Earnings have declined by 33% per year over the past 5 years. Shareholders have been substantially diluted in the past year (103% increase in shares outstanding). Announcement • Mar 31
Lycos Energy Inc. announced that it has received CAD 30 million in funding On March 30, 2026, the Lycos Energy Inc. closed the transaction. Certain directors and officers of the Company participated in the Offering for an aggregate subscription of 3,353,675 Shares Announcement • Mar 07
Lycos Energy Inc. announced that it expects to receive CAD 30 million in funding Lycos Energy Inc. announced a non-brokered private placement of up to 25,000,000 common shares at a price of CAD 1.20 per share of up to CAD 30,000,000 on March 6, 2026. It is anticipated that certain directors, officers and employees of the combined entity will subscribe for approximately CAD 5,000,000 of the offering. The Offering is anticipated to close on or about March 31, 2026, subject to customary closing conditions, including approval of the TSXV. In connection with the Offering, certain eligible advisors may receive cash finder's fees, in accordance with applicable securities laws and the policies of the TSXV. All securities issued under the Offering will be subject to a statutory hold period of four months and one day from the date of issuance in accordance with applicable securities laws. Price Target Changed • Mar 05
Price target increased by 7.8% to CA$1.11 Up from CA$1.03, the current price target is an average from 5 analysts. New target price is 26% below last closing price of CA$1.49. Stock is down 31% over the past year. The company posted a net loss per share of CA$0.017 last year. Price Target Changed • Feb 12
Price target increased by 17% to CA$1.03 Up from CA$0.88, the current price target is an average from 5 analysts. New target price is 12% below last closing price of CA$1.17. Stock is down 52% over the past year. The company posted a net loss per share of CA$0.017 last year. Announcement • Dec 20
Lycos Energy Inc. Announces Retirement of Kel Johnston as Director, Effective from December 31, 2025 Lycos Energy Inc. announced that Mr. Kel Johnston will retire from his role as a director on the Company's Board of Directors, effective December 31, 2025. Mr. Johnston has served on the Board since 2018 under the Company's predecessor, Chronos Resources Ltd., and continued his service through the Company's transition to Lycos. The Board and management would like to thank Mr. Johnston for his many years of dedication, guidance, and contributions to the Company and its shareholders, and wish him all the best in his retirement. The Company will not be immediately appointing a replacement director and will review its board composition in due course. Board Change • Dec 08
High number of new directors Independent Director Geri Greenall was the last director to join the board, commencing their role in 2023. Announcement • Oct 17
An undisclosed buyer acquired Certain assets in the Lindbergh, Moose Lake and Fishing Lake areas of Alberta from Lycos Energy Inc. (TSXV:LCX). An undisclosed buyer entered into a definitive purchase and sale agreement to acquire Certain assets in the Lindbergh, Moose Lake and Fishing Lake areas of Alberta from Lycos Energy Inc. (TSXV:LCX) for CAD 60.0 million on September 1, 2025.
The transaction is subject to conditional acceptance from the Toronto Stock Exchange and is expected to close on or about October 15, 2025. Lycos Energy intends to direct approximately CAD 9.0 million of the net proceeds of the asset sale towards debt repayment to strengthen the Lycos Energy's balance sheet.
National Bank Financial, Inc. acted as financial advisor and fairness opinion provider to Lycos Energy.
An undisclosed buyer completed the acquisition of Certain assets in the Lindbergh, Moose Lake and Fishing Lake areas of Alberta from Lycos Energy Inc. (TSXV:LCX) on October 15, 2025. Announcement • Oct 09
An undisclosed buyer entered into a definitive purchase and sale agreement to acquire Certain assets in the Lindbergh, Moose Lake and Fishing Lake areas of Alberta from Lycos Energy Inc. (TSXV:LCX) for CAD 60.0 million. An undisclosed buyer entered into a definitive purchase and sale agreement to acquire Certain assets in the Lindbergh, Moose Lake and Fishing Lake areas of Alberta from Lycos Energy Inc. (TSXV:LCX) for CAD 60.0 million on September 1, 2025The transaction is subject to conditional acceptance from the Toronto Stock Exchange. The transaction is expected to close on or about October 15, 2025. Lycos Energy intends to direct approximately CAD 9.0 million of the net proceeds of the asset sale towards debt repayment to strengthen the Lycos Energy's balance sheet. National Bank Financial, Inc. acted as financial advisor and fairness opinion provider to Lycos Energy. Reported Earnings • Aug 26
Second quarter 2025 earnings released: CA$1.03 loss per share (vs CA$0.19 profit in 2Q 2024) Second quarter 2025 results: CA$1.03 loss per share (down from CA$0.19 profit in 2Q 2024). Revenue: CA$19.3m (down 52% from 2Q 2024). Net loss: CA$54.6m (down CA$64.9m from profit in 2Q 2024). Revenue is forecast to grow 1.5% p.a. on average during the next 3 years, compared to a 3.3% growth forecast for the Oil and Gas industry in Canada. Price Target Changed • Jul 22
Price target decreased by 11% to CA$2.10 Down from CA$2.35, the current price target is an average from 5 analysts. New target price is 67% above last closing price of CA$1.26. Stock is down 61% over the past year. The company posted a net loss per share of CA$0.017 last year. Announcement • Jun 30
Lycos Energy Inc., Annual General Meeting, Sep 03, 2025 Lycos Energy Inc., Annual General Meeting, Sep 03, 2025. Price Target Changed • Jun 22
Price target increased by 13% to CA$2.65 Up from CA$2.35, the current price target is an average from 5 analysts. New target price is 89% above last closing price of CA$1.40. Stock is down 59% over the past year. The company posted a net loss per share of CA$0.017 last year. Valuation Update With 7 Day Price Move • Jun 05
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to CA$1.45, the stock trades at a trailing P/E ratio of 26.8x. Average forward P/E is 10x in the Oil and Gas industry in Canada. Total loss to shareholders of 57% over the past year. Reported Earnings • May 30
First quarter 2025 earnings released: EPS: CA$0.04 (vs CA$0.027 loss in 1Q 2024) First quarter 2025 results: EPS: CA$0.04 (up from CA$0.027 loss in 1Q 2024). Revenue: CA$26.4m (down 1.0% from 1Q 2024). Net income: CA$2.37m (up CA$3.79m from 1Q 2024). Profit margin: 9.0% (up from net loss in 1Q 2024). Revenue is expected to decline by 6.1% p.a. on average during the next 3 years, while revenues in the Oil and Gas industry in Canada are expected to grow by 2.5%. Announcement • May 30
Lycos Energy Inc. Provides Production Guidance for the Second Quarter 2025 Lycos Energy Inc. provided production guidance for the second quarter 2025. For the quarter, the company anticipated production is approximately 4,000 boe/d (98% crude oil). Price Target Changed • May 15
Price target decreased by 14% to CA$3.01 Down from CA$3.50, the current price target is an average from 4 analysts. New target price is 77% above last closing price of CA$1.70. Stock is down 51% over the past year. The company posted earnings per share of CA$0.58 last year. Price Target Changed • Apr 30
Price target decreased by 9.7% to CA$3.39 Down from CA$3.75, the current price target is an average from 4 analysts. New target price is 103% above last closing price of CA$1.67. Stock is down 52% over the past year. The company posted earnings per share of CA$0.58 last year. Price Target Changed • Apr 09
Price target decreased by 10% to CA$3.75 Down from CA$4.19, the current price target is an average from 4 analysts. New target price is 103% above last closing price of CA$1.85. Stock is down 47% over the past year. The company posted earnings per share of CA$0.58 last year. Valuation Update With 7 Day Price Move • Apr 04
Investor sentiment deteriorates as stock falls 26% After last week's 26% share price decline to CA$1.75, the stock trades at a trailing P/E ratio of 6.8x. Average forward P/E is 9x in the Oil and Gas industry in Canada. Total loss to shareholders of 48% over the past year. Price Target Changed • Apr 03
Price target decreased by 7.3% to CA$4.13 Down from CA$4.45, the current price target is an average from 4 analysts. New target price is 91% above last closing price of CA$2.16. Stock is down 35% over the past year. The company posted earnings per share of CA$0.58 last year. Price Target Changed • Jan 17
Price target decreased by 9.9% to CA$4.45 Down from CA$4.94, the current price target is an average from 5 analysts. New target price is 89% above last closing price of CA$2.36. Stock is down 29% over the past year. The company posted earnings per share of CA$0.58 last year. New Risk • Jan 16
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 47% This is considered a major 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 High level of non-cash earnings (26% accrual ratio). Shareholders have been substantially diluted in the past year (47% increase in shares outstanding). New Risk • Jan 08
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 47% 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 High level of non-cash earnings (26% accrual ratio). Minor Risk Shareholders have been diluted in the past year (47% increase in shares outstanding). Price Target Changed • Dec 19
Price target decreased by 8.5% to CA$4.94 Down from CA$5.40, the current price target is an average from 6 analysts. New target price is 96% above last closing price of CA$2.52. Stock is down 22% over the past year. The company posted earnings per share of CA$0.58 last year. Reported Earnings • Nov 20
Third quarter 2024 earnings released: EPS: CA$0.07 (vs CA$0.043 in 3Q 2023) Third quarter 2024 results: EPS: CA$0.07 (up from CA$0.043 in 3Q 2023). Revenue: CA$36.3m (up 46% from 3Q 2023). Net income: CA$3.71m (up 118% from 3Q 2023). Profit margin: 10% (up from 6.8% in 3Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 27% p.a. on average during the next 3 years, compared to a 1.7% growth forecast for the Oil and Gas industry in Canada. New Risk • Nov 09
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: CA$138.4m (US$99.5m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (38% accrual ratio). Minor Risks Profit margins are more than 30% lower than last year (9.9% net profit margin). Market cap is less than US$100m (CA$138.4m market cap, or US$99.5m). Price Target Changed • Oct 16
Price target decreased by 7.1% to CA$5.48 Down from CA$5.90, the current price target is an average from 6 analysts. New target price is 96% above last closing price of CA$2.80. Stock is down 29% over the past year. The company posted earnings per share of CA$0.58 last year. Reported Earnings • Aug 23
Second quarter 2024 earnings released: EPS: CA$0.19 (vs CA$0.001 in 2Q 2023) Second quarter 2024 results: EPS: CA$0.19 (up from CA$0.001 in 2Q 2023). Revenue: CA$40.7m (up 100% from 2Q 2023). Net income: CA$10.2m (up CA$10.2m from 2Q 2023). Profit margin: 25% (up from 0.2% in 2Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 28% p.a. on average during the next 3 years, compared to a 3.2% growth forecast for the Oil and Gas industry in Canada. New Risk • May 23
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 1.5% Last year net profit margin: 59% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (30% accrual ratio). Minor Risks Profit margins are more than 30% lower than last year (1.5% net profit margin). Shareholders have been diluted in the past year (33% increase in shares outstanding). Reported Earnings • May 23
First quarter 2024 earnings released First quarter 2024 results: Revenue: CA$24.6m (up 86% from 1Q 2023). Net loss: CA$1.41m (down 107% from profit in 1Q 2023). Revenue is forecast to grow 27% p.a. on average during the next 3 years, compared to a 5.4% growth forecast for the Oil and Gas industry in Canada. Price Target Changed • May 14
Price target decreased by 7.6% to CA$5.98 Down from CA$6.48, the current price target is an average from 6 analysts. New target price is 71% above last closing price of CA$3.49. Stock is down 3.1% over the past year. The company posted earnings per share of CA$0.58 last year. Reported Earnings • Apr 19
Full year 2023 earnings released: EPS: CA$0.58 (vs CA$0.32 in FY 2022) Full year 2023 results: EPS: CA$0.58 (up from CA$0.32 in FY 2022). Revenue: CA$86.7m (up 141% from FY 2022). Net income: CA$24.7m (up CA$21.0m from FY 2022). Profit margin: 28% (up from 10% in FY 2022). Revenue is forecast to grow 32% p.a. on average during the next 2 years, compared to a 5.3% growth forecast for the Oil and Gas industry in Canada. Announcement • Apr 04
Lycos Energy Inc. Provides Production Guidance for the First Quarter, Second Quarter and Updated Production Guidance for the Fourth Quarter and Full Year of 2024 Lycos Energy Inc. provided production guidance for the first quarter, second quarter and updated production guidance for the fourth quarter and full year of 2024. First-quarter production is expected to average in excess of 3,800 boe/d (99% crude oil).Second quarter, average production is expected to exceed 4,500 boe/d (99% crude oil).For the fourth quarter of 2024, the company now expects Annual average production of 5,700 boe/d against the previous guidance of 5,500 boe/d.For the full year of 2024, the company now expects Annual average production (boe/d) of 4,800 boe/d against the previous guidance of 4,700 boe/d. Announcement • Mar 29
Lycos Energy Inc., Annual General Meeting, Jun 05, 2024 Lycos Energy Inc., Annual General Meeting, Jun 05, 2024. Price Target Changed • Feb 04
Price target decreased by 7.3% to CA$6.35 Down from CA$6.85, the current price target is an average from 4 analysts. New target price is 104% above last closing price of CA$3.12. Stock is down 28% over the past year. The company posted earnings per share of CA$0.32 last year. Announcement • Feb 03
Lycos Energy Inc. Provides Production Guidance for the Fourth Quarter of 2024, Full Year 2024 and Fourth Quarter of 2023 Lycos Energy Inc. provided production guidance for the fourth quarter of 2024, full year 2024 and fourth quarter of 2023. For the quarter, Average production is 5,500 boe/d (99% oil).For the year 2024, Forecasted annual average production of 4,700 boe/d (99% oil), delivering year-over-year growth in production per weighted average share of 25.3% and growth in adjusted funds flow from operations per weighted average share of 54.9%, while spending within the Company's cash flow.For the quarter 2023, Lycos successfully completed its 2023 capital drilling program, concluding the year with estimated Fourth Quarter 2023 average production of approximately 4,200 boe/d. As a result of the favorable drilling results, Lycos accelerated certain capital expenditures associated with its 2024 drilling program. Reported Earnings • Nov 24
Third quarter 2023 earnings released: EPS: CA$0.04 (vs CA$31.89 in 3Q 2022) Third quarter 2023 results: EPS: CA$0.04 (down from CA$31.89 in 3Q 2022). Revenue: CA$23.7m (up 210% from 3Q 2022). Net income: CA$1.70m (down 89% from 3Q 2022). Profit margin: 7.2% (down from 205% in 3Q 2022). Revenue is forecast to grow 78% p.a. on average during the next 2 years, compared to a 5.7% growth forecast for the Oil and Gas industry in Canada. Recent Insider Transactions • Oct 21
Independent Chairman of the Board recently bought CA$355k worth of stock On the 16th of October, Kevin Olson bought around 100k shares on-market at roughly CA$3.55 per share. This transaction amounted to 13% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. This was Kevin's only on-market trade for the last 12 months. Announcement • Oct 18
Lycos Energy Inc. Announces Recent Drilling Results Lycos is pleased to provide results on its most recent Mannville multi-lateral oil wells, consisting of one extended reach "sweeper" 17,000m fishbone, three shorter fishbones, one conventional multi-lateral and two new generation "wine rack" multi-laterals. Five of the seven wells on stream have substantially outperformed expectations. Lycos is very encouraged by the "sweeper" extended length Sparky fishbone, with an IP25 of over 375 boe/d, making it the best fishbone well drilled by the Company to date. Drilling length, well geometry and changes in drilling design have substantially increased observed initial rates. The two Alberta Sparky wells were drilled with prior generation fluid systems and have taken longer to clean up. Both wells continue to improve in oil rates and decline in water rates. Lycos plans to bring on one more "wine rack" well, two more fishbones and one more conventional multi- lateral by year end. The Company's current production exceeds 4,000 boe/d. Announcement • Oct 17
Lycos Energy Inc. (TSXV:LCX) completed the acquisition of Durham Creek Exploration Ltd. Lycos Energy Inc. (TSXV:LCX) has entered into a definitive agreement to acquire Durham Creek Exploration Ltd. for CAD 23.1 million on September 13, 2023. The Company will acquire DCEL for total consideration, prior to adjustments, of CAD 22.5 million, consisting of CAD 12.5 million in cash and 2.816901 million Lycos Shares at a deemed price of CAD 3.55 per Lycos Share. The Acquisition will be funded through a CAD 25 million bought deal equity financing. The Acquisition is expected to close on or before October 16, 2023, subject to the completion of the Offering and certain customary conditions and approvals, including the approval of the Court of King's Bench of Alberta and the TSX Venture Exchange. National Bank Financial Inc. is acted as financial advisor to Lycos. Stikeman Elliott LLP is acting as legal counsel to Lycos. Burnet, Duckworth & Palmer LLP is acting as legal counsel to DCEL.
Lycos Energy Inc. (TSXV:LCX) completed the acquisition of Durham Creek Exploration Ltd. on October 16, 2023. Transaction consisting of CAD 12.5 million in cash and 2,816,907 common shares of Lycos. Announcement • Sep 15
Lycos Energy Inc. (TSXV:LCX) agreed to acquire Durham Creek Exploration Ltd. for CAD 22.5 million. Lycos Energy Inc. (TSXV:LCX) agreed to acquire Durham Creek Exploration Ltd. for CAD 22.5 million on September 13, 2023. The Company will acquire DCEL for total consideration, prior to adjustments, of CAD 22.5 million, consisting of CAD 12.5 million in cash and 2.8 million Lycos Shares at a deemed price of CAD 3.55 per Lycos Share. The Acquisition will be funded through a $25 million bought deal equity financing. The Acquisition is expected to close on or before October 16, 2023, subject to the completion of the Offering and certain customary conditions and approvals, including the approval of the Court of King's Bench of Alberta and the TSX Venture Exchange. National Bank Financial Inc. is acted as financial advisor to Lycos. Stikeman Elliott LLP is acting as legal counsel to Lycos. Burnet, Duckworth & Palmer LLP is acting as legal counsel to DCEL. Announcement • Sep 02
Lycos Energy Inc. (TSXV:LCX) acquired 100% stake in Wyatt Resources Ltd. for CAD 8.8 million. Lycos Energy Inc. (TSXV:LCX) entered into a definitive agreement to acquire 100% stake in Wyatt Resources Ltd. for CAD 8.8 million on August 24, 2023. The total consideration of CAD 8.8 million, consisting of CAD 6.5 million in cash and CAD 2.3 million of equity comprised of 5.1 million pre-Consolidation Lycos Shares at a deemed price of CAD 0.4523 per Lycos Share. All of the Lycos Shares issued to the shareholders of Wyatt will be subject to a four-month escrow period. The Acquisition will be funded by the Company's credit facilities and cash on hand. The Acquisition is expected to close on September 1, 2023, subject to certain customary conditions and approvals, including the approval of the TSX Venture Exchange
Lycos Energy Inc. (TSXV:LCX) completed the acquisition of 100% stake in Wyatt Resources Ltd. for CAD 8.8 million on September 1, 2023. Reported Earnings • Aug 25
Second quarter 2023 earnings released: EPS: CA$0 (vs CA$3.99 in 2Q 2022) Second quarter 2023 results: EPS: CA$0 (down from CA$3.99 in 2Q 2022). Revenue: CA$20.5m (up 168% from 2Q 2022). Net income: CA$36.0k (down 100% from 2Q 2022). Profit margin: 0.2% (down from 205% in 2Q 2022). Revenue is forecast to grow 73% p.a. on average during the next 2 years, compared to a 2.9% growth forecast for the Oil and Gas industry in Canada. Announcement • Jun 16
Lycos Energy Inc. Announces Board Changes Lycos Energy Inc. announced that Geri Greenall was elected to the company's board of directors at the annual general and special meeting of shareholders of Lycos held on 14 June 2023. Ms. Greenall is currently a director of Kelt Exploration Ltd. and the Chief Financial Officer of Spartan Delta Corp. She has over 22 years of experience in the energy and financial services sectors, including over a decade of experience as a Portfolio Manager and Chief Compliance Officer for investment fund managers and a strong background in both public equity analysis and commodity trading. Ms. Greenall holds a Bachelor of Commerce in Finance from the University of Calgary as well as the Chartered Financial Analyst and Institute of Corporate Directors designations. Ms. Greenall also holds the FSA Level 1 Credential from the Sustainable Accounting Standards Board. The Company also announces that Mr. Don Cowie, who decided not to stand for re-election at the Annual Meeting, has retired from the Company's board of directors. Announcement • May 10
Lycos Energy Inc., Annual General Meeting, Jun 14, 2023 Lycos Energy Inc., Annual General Meeting, Jun 14, 2023, at 10:00 Pacific Daylight. Location: City Center Conference Room Floor 2 215 2nd Street S.W. Calgary Alberta Canada Agenda: To receive the financial statements for the fiscal year ended December 31, 2022 and the report of the auditors thereon; to fix the number of directors to be elected at seven; to elect directors for the ensuing year; to appoint the auditors of the Corporation to hold office until the next annual meeting of the Shareholders and authorize the directors to fix their remuneration; to ratify and confirm the amended and restated stock option plan of the Corporation and prior grants of options thereunder, as described in the management information circular dated May 1, 2023 (the "Information Circular"); and to transact such other business as may properly come before the meeting or any adjournments thereof. Reported Earnings • Apr 29
Full year 2022 earnings released: EPS: CA$0.04 (vs CA$3.32 in FY 2021) Full year 2022 results: EPS: CA$0.04 (down from CA$3.32 in FY 2021). Revenue: CA$36.6m (up 218% from FY 2021). Net income: CA$3.67m (down 72% from FY 2021). Profit margin: 10.0% (down from 113% in FY 2021). Revenue is forecast to grow 56% p.a. on average during the next 2 years, while revenues in the Oil and Gas industry in Canada are expected to remain flat.