12:00:47 EDT Tue 09 Sep 2025
Enter Symbol
or Name
USA
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Cancambria Energy Corp
Symbol CCEC
Shares Issued 118,993,900
Close 2025-09-08 C$ 0.54
Market Cap C$ 64,256,706
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Cancambria receives OK for first two appraisal wells

2025-09-08 20:41 ET - News Release

Dr. Paul Clarke reports

CANCAMBRIA ENERGY CORP RECEIVES APPROVAL OF TECHNICAL OPERATING PLAN FOR FIRST TWO APPRAISAL WELLS

The Supervisory Authority for Regulatory Affairs of Hungary (SZTFH) has approved the technical operating plan (TOP or MUT in Hungarian) for the drilling and completion of the planned CC-Ba-E-2 and CC-Ba-E-3 wells within Cancambria Energy Corp.'s Ba-IX mining licence.

This regulatory approval secures all required permits and authorizations to proceed with the drilling and completion of the initial two appraisal wells. This is an important step toward advancing the project to potential commercialization.

Dr. Paul Clarke, president and chief executive officer, stated: "Approval of the technical operating plan for the first two appraisal wells is a key milestone in advancing the Ba-IX field towards potential commercialization. With regulatory clearances in place, we are now clear to proceed with drilling and completion, gathering critical data that will guide our development plan and support growth across our Hungarian project."

The CC-Ba-E-2 and CC-Ba-E-3 wells are designed to test multiple intervals across more than 1,000 metres of gross gas-charged reservoir section. Data gathered are expected to provide insights into production potential and reservoir performance, refine resource estimates, and support continuing evaluation of the Ba-IX mining licence for potential future development.

About Cancambria Energy Corp.

Cancambria Energy is a Canadian exploration and production company specializing in tight gas development. With a globally experienced leadership team, Cancambria focuses on high-quality, derisked projects with direct access to profitable markets. Leveraging industries' most advanced technologies they aim to commercialize their flagship asset, the 100-per-cent-owned Kiskunhalas project in southern Hungary, a significant gas-condensate resource in the heart of Europe.

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