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CanCambria Energy Corp Announces Resource Evaluation Report for the Kiskunhalas Tight-Gas Project, Southern Hungary
Vancouver, British Columbia--(Newsfile Corp. - May 12, 2025) - CanCambria Energy Corp. (TSXV: CCE...
About this update from Cancambria Energy Corp
[{"type":"text","content":"CanCambria Energy Corp Announces Resource Evaluation Report for the Kiskunhalas Tight-Gas Project, Southern HungaryVancouver, British Columbia--(Newsfile Corp. - May 12, 2025) - CanCambria Energy Corp. (TSXV: CCEC) (FSE: 4JH) (\"CanCambria\" or the \"Company\") is pleased to announce the results of the Company's independent resource evaluation for the Kiskunhalas tight-gas project in southern Hungary dated April 30th, 2025, prepared by Chapman Hydrogen and Petroleum Engineering ltd (CHPE).The company holds 100% working interest and 98% net royalty interest across the greater BA-IX mining license at the Kiskunhalas project. The report includes an area of 4,000 net acres with the Development Pending sub-class for Contingent Resources. The company's 2023/24 proprietary 3D seismic program was fully utilized in the preparation of the report and integrates three legacy wells; the dataset provides open-hole logs, core and gas test/production data. The resulting seismic-derived facies models provide a significant improvement over all older characterization efforts.The CHPE best estimate for Contingent Resource volumes (2C Development Pending) is 627.4 billion cubic feet (BCF) natural gas and 66.5 million barrels (MMBBL) condensate/natural gas liquids (NGL) net to the company (un-risked).1 The net risked recoverable contingent resource (2C Development Pending) is 501.9 BCF natural gas and 53.2 MMBBL condensate/NGL.CHPE best estimate for Contingent Resources (2C Development Pending) Net Present Value discounted at 10% (NPV10) assumes a price forecast of January 1st, 2025, is US$1,579,315,000 risked at 80% chance of development and US$1,974,144,000 un-risked, with a rate of return (ROR) of 57.3% for un-risked case.CanCambria's Field Development Plan (FDP) comprises a total of 100 wells, with two phases each comprising 50 well tranches. Full FDP results in capital expenditure from CHPE (2C case) of US$947.9 million, discounted at the same 10% rate. Dr. Paul Clarke, CEO & President, stated: \"We are very pleased that this report supports CanCambria's technical assessment of the field and development plan. The scale of the project makes this a very attractive venture with many years of potential drilling inventory. To validate these assessments, we are preparing a three-well appraisal program, to commence drilling in the coming months, as...