Vancouver, British Columbia--(Newsfile Corp. - July 14, 2026) - CanCambria Energy Corp. (TSXV: CCEC) (FSE: 4JH) (OTCQB: CCEYF) ("CanCambria" or the "Company") announced today a technical and commercial update for the Soltvadkert/Tazlar/Alpar Shallow Oil Fairway ("STA Fairway"), highlighting continued advancement of the project and outlining key milestones expected to drive value creation going forward. Among these is the Company's plan to acquire its own 3D seismic survey over the STA Fairway, with acquisition currently targeted for late 2H, 2026 subject to customary regulatory approvals.
Key Highlights:
Emerging shallow oil opportunity within CanCambria's 100%-owned Kiskunhalas Concession Area complements the Company's flagship deep tight-gas project
Ten oil field prospects identified across an 80,000-acre fairway where adjacent oil fields have collectively produced approximately 160 MMBOE1
Area analogs indicate a target mean oil field size of approximately 15 MMBOE
Each oil prospect targets mean prospective net revenue of up to US$567 million (net of royalties and taxes)² providing exposure to a multi-billion-dollar resource potential
3D seismic program planned in 2H, 2026 to refine final pre-drill prospect definition and advance evaluation of the low-cost, fast-cycle development opportunities, leveraging existing infrastructure
Further strengthens the Company's existing portfolio, which includes a strategic US$1.76 billion NPV10, risked, development pending, contingent tight-gas resource
The Company has identified a prospective trend across the STA Fairway (see Map), where substantial undeveloped potential has been recognized for both conventional and unconventional hydrocarbon accumulations. The STA Fairway is supported by neighboring analog fields that have collectively produced over 160 million barrels of oil equivalent (MMBOE)1 underscoring the region's significant resource potential. While the STA Fairway is not currently covered by 3D seismic data, the Company has identified ten (10) leads and prospects based upon 1980s vintage 2D seismic and continues to advance the technical evaluation of these opportunities. The Company estimates a potential mean revenue value for the identified shallow oil opportunities of up to USD US$567 million (after royalty and tax).
Dr. Paul Clarke, President and Chief Executive Officer, commented, "We are delighted to have the opportunity to further evaluate this large, underexplored yet proven petroleum system. We believe significant value can be unlocked for our shareholders through the application of modern 3D seismic technologies and is consistent with our business model of low-cost entry and capital efficient prospecting. This new proprietary seismic will de-risk our existing inventory of prospects and help to identify further opportunities across the trend."