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Orca Energy Group Inc. Announces Independent Reserves Evaluation for Year End 2025
TORTOLA, British Virgin Islands, Jan. 28, 2026 (GLOBE NEWSWIRE) -- Orca Energy Group Inc. (" Orca...
About this update from Orca Energy Group Inc. Class B
[{"type":"text","content":"Orca Energy Group Inc. Announces Independent Reserves Evaluation for Year End 2025\nTORTOLA, British Virgin Islands, Jan. 28, 2026 (GLOBE NEWSWIRE) -- Orca Energy Group Inc. (\"Orca\" or the \"Company\" and includes PanAfrican Energy Tanzania Limited (\"PAET\") and its other subsidiaries and affiliates) (TSX-V: ORC.A, ORC.B) announces the approval of its Independent Reserves Evaluation as at December 31, 2025. All currency amounts in this news release are in United States Dollars ($) unless otherwise stated. INDEPENDENT RESERVES EVALUATIONThe Company's conventional natural gas reserves as at December 31, 2025 for the period to the end of the primary 25-year term of the production sharing agreement (the \"Songo Songo PSA\") with the Tanzanian Petroleum Development Corporation (the \"TPDC\") have been evaluated by independent reserves evaluator McDaniel & Associates Consultants Ltd. (\"McDaniel\") in accordance with the definitions, standards and procedures contained in the Canadian Oil and Gas Evaluation Handbook (\"COGE Handbook\") and National Instrument 51-101 – Standards of Disclosure for Oil and Gas Activities (\"NI 51-101\"). The Songo Songo PSA expires upon the expiry of TPDC's Songo Songo licence in respect of the Songo Songo gas field (the \"Songo Songo Licence\") in October 2026. The preparation date of the independent reserves evaluation prepared by McDaniel is January 27, 2026 and the effective date of the evaluation is December 31, 2025 (the \"McDaniel Report\"). All of the Company's reserves are located in Tanzania. Reserves included herein are stated on a Company gross reserves basis unless noted otherwise. Company gross reserves are the total of the Company’s working interest share in reserves. The Company's Board of Directors has reviewed and approved the McDaniel Report. Additional reserves information required under NI 51-101 is included in Orca's reports relating to reserves data and other oil and gas information under NI 51-101, which will be filed on its profile on SEDAR+ at www.sedarplus.ca. The following discussion is subject to a number of cautionary statements, assumptions, contingencies and risks as set forth in this news release. HIGHLIGHTS Total Proved (“1P”) Gross Company conventional natural gas reserves at year ended December 31, 2025, were 17.5 billion standard cubi...