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CanCambria Energy Corp Wins Exploration Tender at Kiskunhalas Covering over 230,000 Acres
Vancouver, British Columbia--(Newsfile Corp. - April 1, 2025) - CanCambria Energy Corp. (TSXV: CC...
About this update from Cancambria Energy Corp
[{"type":"text","content":"CanCambria Energy Corp Wins Exploration Tender at Kiskunhalas Covering over 230,000 AcresVancouver, British Columbia--(Newsfile Corp. - April 1, 2025) - CanCambria Energy Corp. (TSXV: CCEC) (FSE: 4JH) (\"CanCambria\" or the \"Company\") today announced that the Hungarian Ministry of Energy (the \"Ministry\") has selected CanCambria Hungary Kft (\"CanCambria Hungary\"), the Company's wholly-owned subsidiary, as the successful bidder for the Kiskunhalas Concession Tender Area (the \"Kiskunhalas Concession Area\") for hydrocarbon exploration and production, subject to formal documentation and certain other conditions outlined below.The newly awarded Kiskunhalas Concession Area covers an area of 945.9 km² (233,737 acres) and up to 6,000 m depth from surface. It is located adjacent to CanCambria's existing Ba-IX mining license (32,500 acres), creating a consolidated, contiguous position within the Pannonian Basin, a mature and historically productive region in southern Hungary. Furthermore, the Kiskunhalas Concession Area has 46% modern 3D seismic coverage.Initial technical focus areas within the concession include:Direct extension of the existing tight-gas play from Ba-IX, offering potential for additional development drilling locations;Neighboring Soltvadkert Trough - an analog Miocene basin, prospective for tight-gas exploration, covered only by legacy 2D and no wells; andMultiple conventional leads and prospects with various size and risk profiles supported by the existing 3D seismic coverage.Dr. Paul Clarke, President & CEO of CanCambria, stated: \"Large, contiguous packages of this size and quality are rarely available in proven hydrocarbon basins, especially in countries with well-developed energy sectors. This tender was a highly competitive process, and the award to CanCambria reflects the Ministry's confidence in our company and business model. This strategic addition expands the scale of our Kiskunhalas project area from 32,500 acres to over 265,000 contiguous acres and adds a new prospective basin to the portfolio; we had the goal of expanding our land position into this area since entering Hungary in 2022.\"Concession Agreement: Over the next 90 days, CanCambria Hungary will negotiate a concession agreement with the Ministry, which, upon execution, will grant the Company exclusive rights to explore and produce h...