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Criterium Energy Announces 2025 Reserves, Highlighted by 70% 2P Reserve Growth and Increased Contingent Resource
Record high 1P reserves of 2.2 MMboe, 2P reserves of 7.7 MMboe, and 3P reserves of 16.5 MMboe ...
About this update from Criterium Energy Ltd
[{"type":"text","content":"Criterium Energy Announces 2025 Reserves, Highlighted by 70% 2P Reserve Growth and Increased Contingent ResourceRecord high 1P reserves of 2.2 MMboe, 2P reserves of 7.7 MMboe, and 3P reserves of 16.5 MMboe1.Upgraded SE-MGH and added N-MGH to reserves at an efficient US$0.1/2P mcf (US$0.4/2P boe)2. 2P Reserve NPV10 of US$50 million, equivalent to C$0.50 per common share3 and calculated on Brent price deck averaging US$67/bbl from 2026 - 2030.SE-MGH upgraded to reserves along with 40% increase in base case recoverable volumes to 21 bcf (SE-MGH and N-MGH combine for 24 bcf 2P1).Robust pipeline of resource development driven by MGH waterflood and Lemat plays, increasing contingent oil resources by 13 MMbbl (2C)1, resulting in record high 2C contingent resource of 40 MMboe1,8.Calgary, Alberta--(Newsfile Corp. - March 24, 2026) - Criterium Energy Ltd. (TSXV: CEQ) (\"Criterium\" or the \"Company\"), an independent upstream energy development and production company focused on energizing growth for Southeast Asia today announced the results of its third-party, independent reserves and resources assessment at year-end 2025. \"These results highlight our ability to deliver meaningful reserve and resource growth through a highly-capital efficient approach, utilizing existing infrastructure and our technical expertise to create value with minimal investment,\" said Matthew Klukas, President and CEO of Criterium Energy. \"Importantly, we have diversified our portfolio with gas reserves at SE-MGH, expected to be on production in the near term, expected to result in a meaningful increase in free cash flow and strengthening our financial position. This gas development is expected to represent a repeatable, low-cost model for future development, while our oil assets continue to provide resilient cash flow. Looking ahead, our near-term focus remains on safe operations, construction of the SE-MGH pipeline and delivering first gas promptly. Our 2025 reserve report validates the substantial upside across our portfolio, particularly through our multiple gas assets and the advancement of waterflood in the Tungkal PSC, which has the potential to materially increase recovery and long-term oil reserves. As we execute these initiatives, we remain focused on disciplined capital allocation and delivering sustainable value for our shareholders throu...