Lotus Creek Exploration Inc. brought on production the final two gross Belly River wells from its post-break-up program in September 2026, completing its five-well Wilson Creek drilling campaign.

With 12 gross Belly River wells brought online over the past 12 months, corporate production currently exceeds 5,500 barrels of oil equivalent per day. That figure compares with an average of 3,417 barrels of oil equivalent per day during the second quarter of 2026. Approximately 72 per cent of current production consists of light oil and natural gas liquids.

Under its approved 2026 fiscal budget, Lotus Creek allocated $33.6 million, representing 80 per cent of total capital, to drilling six gross light oil Belly River wells in Wilson Creek and expanding infrastructure at the oil battery and gathering system.

Production from the newly connected wells is currently being optimized to maximize oil throughput through the operated Wilson Creek oil battery, which has reached its approximate design capacity of 5,000 barrels of oil equivalent per day. In the near term, Lotus Creek will continue to optimize production and evaluate opportunities to debottleneck existing infrastructure as the recently completed wells stabilize.

Well performance across the drilling programs has shown strong initial rates. The initial seven-well Belly River program delivered an average initial 30-day oil rate of approximately 350 barrels per day and total production of approximately 600 barrels of oil equivalent per day per well. In contrast, the first three wells of the subsequent five-well program achieved an average initial 30-day rate of approximately 550 barrels per day of oil and 1,000 barrels of oil equivalent per day of total production. Additional performance details for the final two wells will be provided once representative production profiles are established.

Lotus Creek has initiated planning for the next phase of infrastructure development at Wilson Creek to support a longer-term production objective of approximately 10,000 barrels of oil equivalent per day. That expansion will require detailed engineering, equipment procurement and regulatory approvals. Subject to the 2027 budgeting process and required approvals, additional infrastructure capacity is targeted to be available toward the end of 2027.

In a separate corporate update, the board of directors approved the grant of 156,397 stock options to certain directors and officers. The options are exercisable at $3.87 per common share and vest in three equal annual tranches beginning September 6, 2027.

Read the full announcement: Lotus Creek Exploration Inc. Announces Wilson Creek Development Program Update, New Corporate Presentation and Stock Option Grant