Reported Earnings • May 31
First quarter 2026 earnings released: CA$0.06 loss per share (vs CA$0.013 loss in 1Q 2025) First quarter 2026 results: CA$0.06 loss per share (further deteriorated from CA$0.013 loss in 1Q 2025). Revenue: CA$3.34m (up 225% from 1Q 2025). Net loss: CA$4.24m (loss widened CA$3.59m from 1Q 2025). New Risk • May 25
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of German stocks, typically moving 14% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. 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$17m free cash flow). Share price has been highly volatile over the past 3 months (14% average weekly change). Minor Risks Shareholders have been diluted in the past year (19% increase in shares outstanding). Revenue is less than US$5m (CA$5.6m revenue, or US$4.1m). Market cap is less than US$100m (€18.3m market cap, or US$21.3m). Tillkännagivande • May 19
Westgate Energy Inc., Annual General Meeting, Jul 21, 2026 Westgate Energy Inc., Annual General Meeting, Jul 21, 2026. Tillkännagivande • Jan 22
Westgate Energy Inc. Provides Operational Update Westgate Energy Inc. provided an operational update following the initial startup of its three recently drilled Mannville Stack oil wells in the Beaverdam area of Alberta. The Company successfully brought its latest three horizontal wells at the Beaverdam asset on production in mid to late December 2025. Current combined production from the three new wells is approximately 330 bbl/d over a 7-day period. The wells were initially brought on stream at conservative pump rates to allow for a gradual clean up phase. This operating approach is intended to reduce downhole equipment wear associated with sand production. As the clean up phase progresses, the Company expects production rates to continue to improve as pumping rates are gradually increased from their current rates. Ongoing well optimization, together with the completion of the new holding tank facility, described below, is anticipated to further increase production over the coming weeks. In addition to the producing horizontal wells, the Company also drilled two vertical stratigraphic test wells in the fall program. These two vertical wells were designed to provide information about various prospective Mannville Stack horizons within the Company's existing land holdings at Beaverdam. This facility is designed to improve operating efficiency by increasing oil recoveries from produced sand and emulsion volumes while also reducing third party handling and disposal costs. Upon completion, the new facility is expected to provide incremental production of greater than 30 bbl/d from the existing six wells, increasing operating netbacks by greater than $5/bbl. The capacity of the new facility is designed to service up to 25 wells which are expected to also benefit from the higher netbacks in the future. Operating netbacks is a non-GAAP ratio. refer to the Advisories and Other Guidance section within this press release for additional information. The overall results delivered by second three-well program at Beaverdam. The company expects the modified initial pumping rates to be beneficial for run times of the new wells. This operational refinement is expected to help guide future drilling and completion strategies at Beaverdam in 2026 and beyond. Westgate looks forward to building on its operational performance while continuing to pursue cost efficiencies as advance into 2026. The Company is currently in the well planning phase for its next drilling program and intends to drill an additional nine horizontal wells at Beaverdam during the remainder of 2026, based on an anticipated WTI oil price of USD 60 to USD 65/bbl. This program is expected to increase the total producing well count at Beaverdam to 15 by year-end 2026. Subject to weather conditions and spring break timing, the next drilling program is expected to commence in late May or early June 2026. Tillkännagivande • Nov 19
Westgate Energy Inc. Provides an Operational Update Following the Completion of Its Latest Drilling Program in the Beaverdam Area of Alberta Westgate Energy Inc. provided an operational update following the completion of its latest drilling program in the Beaverdam area of Alberta. The Company has successfully completed its previously announced fall drilling program at its Beaverdam asset. The program included two vertical stratigraphic test wells and three horizontal wells targeting two Mannville Stack horizons. Due to a simplified well design, the Company was able to drill the three horizontal wells in an average of 6.7 days per well, leading to an average cost of $1.06MM per well. This represents an average reduction of 4 days per well and a 25% cost decrease on the drilling portion compared to the Company's previous three well program. All three horizontal wells encountered their respective target zones, and oil shows were observed in all three wells. Current operations include downhole completion and facility construction, with an expected on-stream date of mid-December for all three wells. Tillkännagivande • Oct 02
Westgate Energy Inc. Announces Production Updates and Drilling Programs Westgate Energy Inc. provided an update on drilling plans for the fourth quarter of 2025 in the Beaverdam area of Alberta. Westgate announced that, based on the success of its recent three well summer drilling program at its Beaverdam asset near Cold Lake, Alberta, the Company is planning to commence a five well follow-up drilling program on the Beaverdam asset. Three of the wells are planned to be drilled as vertical stratigraphic test wells off temporary surface locations. The stratigraphic test wells are expected to aid in delineating additional Mannville Stack horizons that showed potential for development and to support future horizontal drilling in 2026 and beyond. Drilling is scheduled to commence on or about October 15, 2025 and is expected to continue for 30 days, with all three horizontal wells anticipated to be on production on or about December 20, 2025. Peak production is expected to be reached within two months of the wells coming on production. The Company anticipates updating shareholders before the end of January 2026 on the production results of the fourth quarter of 2025 drilling program. Westgate announced that the three wells from the summer program at Beaverdam (the "New Wells") continue to produce above management's expectations. The average aggregate total production of the New Wells over the last seven days has been greater than 500 bbl/d. The Company is forecasting corporate production of greater than 1,000 boe/d once the Fourth Quarter 2025 drilling program wells have cleaned up in mid-late January 2026. Market Making Services: The Company also announces that it has engaged the services of Insight Capital Partners Inc. ("Insight") and its market making service provider, ICP Securities Inc. ("ICP") effective October 1, 2025 (the "Engagements"), subject to receipt of final acceptance by the TSX Venture Exchange. Pursuant to a consulting agreement entered into between the Company and Insight (the "Consulting Agreement"), Insight will provide capital markets consulting services, including providing the Company with market information on trade activity and advising on market related initiatives (the "Consulting Services"), for a term of 24 months, provided that, subject to a minimum four month term, either party may terminate the Consulting Agreement by providing 30 days' prior written notice to the other party. In addition, pursuant to a market making agreement entered into between the company and ICP (the "Market Making Services"), the Company has engaged ICP to provide market making services (the "Market Making Services") for the Company's common shares (the "Shares"), subject to and in compliance with the policies and guidelines of the TSX Venture Exchange and other applicable legislation. The Market Making Agreement is for an initial four month term (the "Initial Term") and shall be automatically renewed for subsequent one month terms (each month an " Additional Term") unless either party provides at least 30 days' written notice prior to the end of the Initial Term or an Additional Term, as applicable. In consideration for the Consulting Services, Insight will receive a monthly fee of $3,500, plus applicable taxes. Insight will receive a monthly feeof $7,500, plus applicable tax. Insight and ICP do not have any interest, directly or indirectly, in its securities or any right or intent to acquire such an interest at this time; however, Insight and ICP and its clients may acquire an interest in the securities of the Company in the future. There are no performance factors contained in the Consulting Agreement or Market Making Agreement and no stock options or other compensation are being granted in connection with the Engagements. Insight and ICP are each arm's length parties to the Company. The Market Making Services will be primarily to correct temporary imbalances in the supply and demand of the Shares. ICP will be responsible for the Company's share repurchases. 
