Oregen Energy Corp. reduced its total operating expenses by 85% to $163,607 for the three months ended June 30, 2026, compared to $1,102,151 in Q2 2025.

For the first six months of 2026, operating expenses fell 67% to $532,479 from $1,608,314 during the prior-year period. Comprehensive net loss for Q2 2026 dropped 68% to $363,688, or $0.01 per share, compared to $1,141,804, or $0.04 per share, in Q2 2025. For the six-month period, net loss decreased 49% to $833,835 against $1,645,963 previously.

The company achieved these savings through cost rationalization driven by the internalization of corporate management functions and lower advisory transaction overhead following the acquisitions of NamLith and Oranam.

Oregen maintains a 48.5% equity stake in WestOil Limited, which holds a 70% working interest resulting in a 33.95% net interest in Block 2712A spanning 5,484 square kilometres in Namibia's Orange Basin. Building on this core holding, Oregen has entered into a non-binding Letter of Intent framework to evaluate a strategic investment in Petrovena Energy (Pty) Ltd., which holds an award letter for Block 2812Ab in the same basin.

" Oregen executed focused capital discipline while restructuring and streamlining our administrative cost profile ," said Kevin Shrimpton, Interim CEO . " By sharply cutting non-essential corporate burn and rationalizing administrative overhead, we have positioned the Company with a significantly leaner cost footprint. At the same time, we remain focused on the tremendous potential within our interest in Block 2712A and 2812Ab in Namibia's Orange Basin, one of the world's most active and prospective offshore exploration basins. With a revitalized board, top-tier technical guidance, and continued corporate discipline, Oregen is focused on unlocking shareholder value through our core offshore holding and new strategic energy opportunities. "

Read the full announcement: Oregen Energy Corp. Reports Q2 2026 Financial Results And Highlights Disciplined Cost Reduction Alongside Strategic Positioning In Namibia's Orange Basin