WesCan Energy Corp. Announces Fiscal 2025 Year-End Financial and Operating Results, Provides Operations Update

Calgary, AB – TheNewswire – July 16, 2025 – WesCan Energy Corp. (“WesCan” or the “Company”) is pleased to report its financial and operational results for the twelve months ended March 31, 2025. The Company’s consolidated financial statements and management’s discussion and analysis (“MD&A”) are available on SEDAR at www.sedar.com.

Financial and Operational Highlights:

• Revenue: Petroleum and natural gas revenue increased 45% to $4.0 million, compared to $2.8 million in the prior year, reflecting increased production and improved commodity prices. 

• Production: Average daily production grew 44% year-over-year to 147 boe/d, up from 102 boe/d in 2024, primarily due to successful workover programs and facility optimization. 

• Cash Flow: Cash flow from operations was $587,164, a significant improvement over the prior year’s cash outflow of $270,543. 

• Net Income: WesCan recorded a net loss of $799,969 for the year, compared to net income of $233,911 in 2024, largely attributable to increased royalty and operating expenses, higher depletion, and finance charges. 

• Operating Netback: Operating netback for the year was $17.31/boe, down from $26.47/boe, primarily due to higher costs and royalties, partially offset by higher production volumes. 

Strategic and Operational Progress:

• WesCan’s 100% operated, oil-weighted assets in east-central Alberta are characterized by multi-zone oil reservoirs with low declines and a portfolio of low-risk, multi-lateral horizontal development drilling locations. 

• The Company remains focused on disciplined development, optimizing its core properties, and actively evaluating strategic acquisition opportunities to add long-life, low-decline producing assets. 

• During the year, significant investments were made in well workovers and facility upgrades, resulting in both higher oil and natural gas production. 

Upcoming Operations:

• WesCan is advancing preparations for its next multilateral drilling program, expected to spud in August 2025. This well is designed to enhance oil recovery and maximize resource efficiency from the Company’s core Alberta asset base. 

• In addition, WesCan is evaluating potential re-entries into existing single leg horizontal wells, targeting incremental production growth and optimized returns from previously drilled assets. These initiatives reflect the Company’s ongoing commitment to capital-efficient growth and the maximization of shareholder value. 

CEO’s Comment:

“The past year’s results demonstrate the resilience of our team and the strength of our core assets,” stated Leo Berezan, President and CEO of WesCan Energy Corp. “With preparations underway for our upcoming multilateral well and planned re-entries, we are well positioned to deliver production growth and improved efficiencies for our shareholders. We remain committed to disciplined capital allocation and operational excellence as we advance our development program in east-central Alberta.”

Outlook:
WesCan’s management remains confident in the Company’s asset base and operational strategy. The ongoing focus on low-cost optimization, new development drilling, and the re-activation of shut-in wells is expected to support future cash flows and long-term value for shareholders. The Company is actively reviewing new drilling opportunities and remains vigilant in its capital allocation given the current commodity price environment.

Liquidity:
WesCan continues to manage its capital resources with a focus on financial discipline. The Company is seeking additional equity financing to support ongoing development activities and address its working capital deficiency, which was $981,640 at March 31, 2025.

For further information, please refer to the Company’s audited financial statements and MD&A filed on SEDAR.

About WesCan Energy Corp.:
WesCan Energy Corp. is a Calgary-based exploration and production company focused on the acquisition, development, and optimization of oil and natural gas assets in Alberta.

FOR FURTHER INFORMATION, PLEASE CONTACT:

Leo Berezan, Interim President & CEO                                                                      Ed Leung, Interim CFO                              

WESCAN ENERGY CORP.                                                                            WESCAN ENERGY CORP.                                

 Tel: (403) 265-9464                                                                                 Tel: (403) 265-9464

TSX Venture: WCE                                                                                           www.wescanenergycorp.com

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act“) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE.

Disclaimer for Forward-Looking Information

Except for statements of historical fact, this news release contains certain “forward-looking information” within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate” and other similar words, or statements that certain events or conditions “may” occur. Forward-looking information in this press release includes, but is not limited to, statements regarding expectations of management regarding the drilling of wells and the timing of obtaining results therefrom. Although the Company believes that the expectations reflected in the forward-looking information are reasonable, there can be no assurance that such expectations will prove to be correct. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this news release. Such forward-looking statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements including, without limitation, the risks that the drilling program discussed herein may not have the anticipated results. The Company assumes no obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as otherwise required by law.

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