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Bengal Energy Announces Fiscal 2025 Fourth Quarter Results
Calgary, Alberta--(Newsfile Corp. - June 30, 2025) - Bengal Energy Ltd. (TSX: BNG) ("Bengal" or...
About this update from Bengal Energy Ltd.
[{"type":"text","content":"Bengal Energy Announces Fiscal 2025 Fourth Quarter ResultsCalgary, Alberta--(Newsfile Corp. - June 30, 2025) - Bengal Energy Ltd. (TSX: BNG) (\"Bengal\" or the \"Company\") today announces its financial and operating results for the year end and fourth quarter of fiscal 2025 ended March 31, 2025.FOURTH-QUARTER FISCAL 2025 HIGHLIGHTS:The following is an overview of the financial and operational results during the three months ending March 31, 2025. All amounts are in Canadian funds unless otherwise noted:Financial summary:Reserves - Bengal's independently evaluated Proved Plus Probable (\"2P\") Reserves for the fiscal year ended March 31, 2025, are 1,817 thousand barrels of oil (\"Mbbls\") compared to 1,857 Mbbls at March 31, 2024. 1P Reserves are 845 Mbbls compared to 872 Mbbls at March 31, 2024. The Company is committed to future drilling activities at the Cuisinier field and recognizes the accretive upside to further development. Any future activity will be subject to the completion of a field development plan incorporating the results of Cuisinier water-injection program and equity or debt financing. The remaining future development capital is subject to both internal approval and availability of capital. The net present value (NPV0F 10, before tax) of Bengal's 2P Reserves, net of future development costs, at March 31, 2025 is $42.6 million, or $0.09 per share compared to $42.1 million or $0.09 per share at March 31, 2024.Sales revenue - Crude oil sales revenue was $1.0 million in the fourth quarter of fiscal 2025, 46% lower than $1.8 million in Q4 fiscal 2024. Oil lifted was consistent between Q4 fiscal 2025 and Q4 fiscal 2024; however, pipeline oil change between the two fiscal quarters and the 30% lower realized price contributed to the change as discussed further in the Revenue/Pricing section below. Production was 126 barrels of oil per day (\"bopd\") in Q4 fiscal 2025, 22% lower than 162 bopd in Q4 fiscal 2024.Funds from operations1 - Funds used in operations was $502 thousand during the fourth quarter of fiscal 2025 compared to funds from operations of $329 thousand in Q4 fiscal 2024. The decrease was mainly due to lower sales revenues.Net loss - Bengal reported a net loss of $3.0 million in the fourth quarter of fiscal 2025 compared to net loss of $11.6 million in the fourth quarter of fiscal 2024, attributed to the i...