NG ENERGY ANNOUNCES ARUCHARA-5 WELL DRILLING RESULTS AT MARIA CONCHITA

About this update from Ng Energy International Corp

CALGARY, AB, May 28, 2026 /CNW/ - NG Energy International Corp. ("NGE" or the "Company") (TSX: GASX) (OTCQX: GASXF) is pleased to announce the results from the drilling of the Aruchara-5 well at the Maria Conchita Block (80% working interest) and subsequent work program at Maria Conchita for the remainder of 2026. Aruchara-5 Well Drilling Results The Aruchara-5 well has been successfully drilled to a total depth of 9,097 feet, hitting the H1 target as designed and passing through the H2, H3, H4, H5 and H6 zones, with all zones showing positive results of gas at the surface and through wireline logs. Aruchara-5 has been completed and connected to the central processing facility at Maria Conchita (the "CPF") and an evaluation of well performance is underway through the CPF, with new gas volumes being sold into the Colombian marketplace. Initial production from Aruchara-5 has delivered rates of 11 MMcf/d gross (8.8 MMcf/d net) at a wellhead pressure of 1,600 psi across the H1 zone. The addition of Aruchara-5 has brought total field production at Maria Conchita to 18 MMcf/d gross (14.4 MMcf/d net). Combined with average gross daily production of 22.5 MMcf/d (8.8 MMcf/d net) at Sinú-9 since Hechicero-1X was brought online, total Company net production is approximately 23.2 MMcf/d. The Company's contracted offtake agreements at Maria Conchita cover volumes up to 15 MMcf/d gross, with all incremental volumes above this threshold being sold into the Colombian spot market at approximately US$11.50/Mcf. At Sinú-9, the Company maintains contracted offtake agreements up to 25 MMcf/d gross, with all incremental volumes above this threshold expected to be sold into the Colombian spot market at approximately US$13.00/Mcf. Both fields benefit from a structurally premium Colombian natural gas pricing environment, with spot pricing upside expected to increase as combined Company production scales through the remainder of 2026. Maria Conchita 2026 Work Program With Aruchara-5 now connected and producing, the Company is advancing a comprehensive work program at Maria Conchita through the remainder of 2026, which is designed to optimize production across the field and sustain capacity growth: The Maria Conchita Block benefits from infrastructure supporting up to 30 MMcf/d gross (24 MMcf/d net) of processing and transportation capacity, p...

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