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CanCambria Energy Announces Approval of Technical Operating Plan for Kiskunhalas Concession Area, Advancing Strategic Oil and Gas Development in Hungary
Operating plan details commitment and development schedule for the next four years of one of Cent...
About this update from Cancambria Energy Corp
[{"type":"text","content":"CanCambria Energy Announces Approval of Technical Operating Plan for Kiskunhalas Concession Area, Advancing Strategic Oil and Gas Development in HungaryOperating plan details commitment and development schedule for the next four years of one of Central Europe's largest untapped natural resourcesVancouver, British Columbia--(Newsfile Corp. - March 5, 2026) - CanCambria Energy Corp. (TSXV: CCEC) (FSE: 4JH) (OTCQB: CCEYF) (\"CanCambria\" or the \"Company\") is pleased to announce that the Hungarian authority responsible for hydrocarbon exploration activities has approved the Company's technical operating plan for the Kiskunhalas Concession Area (\"KCA\" or the \"Project\"), setting forth the commitment and schedule of development activities for the next four years (the \"Technical Operating Plan\"). \"Securing approval of our Technical Operating Plan is an important step in unlocking the strategic value of the KCA,\" said Paul Clarke, President and CEO. \"Given the supply-side concerns and associated commodity prices for natural gas in Europe, we believe this Project represents a meaningful opportunity within the onshore European energy landscape. Furthermore, energy markets are reacting quickly to disruptions in global LNG supply, with European natural gas prices rising significantly in recent days. While the broader geopolitical situation continues to evolve, the underlying takeaway is that Europe continues to place significant value on stable, regional sources of natural gas. Our Project in Hungary is located in a highly strategic part of Central Europe, near established gas infrastructure servicing major European markets. The contiguous size, 100% working interest, favorable tax landscape, and proximity to established infrastructure make the KCA a compelling investment opportunity.\"In accordance with the approved Technical Operating Plan, throughout the remainder of 2026, the Company will conduct detailed geological, geophysical, and engineering studies utilizing legacy 2D and 3D seismic data, calibrated against CanCambria's proprietary 3D seismic dataset acquired in 2023 over its adjacent BA-IX mining plot. These studies will also integrate production and well data from more than 300 legacy oil and gas wells in the region. Pursuant to the approved Technical Operating Plan, the Company will undertake a 3D seismic acquisition p...