Vancouver, British Columbia--(Newsfile Corp. - October 14, 2026) - CanCambria Energy Corp. (TSXV: CCEC) (FSE: 4JH) (OTCQB: CCEYF) ("CanCambria" or the "Company") is pleased to announce that it has awarded the contract for its proprietary Soltvadkert/Tazlar/Alpar ("STA") Shallow Oil 3D seismic survey to Acoustic Geophysical Services Ltd. ("AGS") of Hungary. Under the terms of the agreement, AGS is scheduled to commence field operations on November 1, 2026, with field acquisition expected to be completed by mid-December 2026. Land permitting is currently underway.

The STA program will evaluate shallow oil prospects within CanCambria's 100%-owned Kiskunhalas Concession. The total cost of the program, including seismic acquisition and processing, is expected to be approximately US$2.6 million.

CanCambria previously worked with AGS on its 2023-2024 Balotaszállás deep-gas 3D seismic acquisition program. That program delivered high-quality seismic data, supported by a strong safety record and minimal surface disturbance. The new STA survey, located approximately 15 kilometers north of the previous survey area, will cover approximately 2.5 times the area of the Company's 2023-2024 3D seismic program.

Dr. Paul R. Clarke, President, Chief Executive Officer and Interim Chairman of the Board, commented, "Awarding the STA 3D seismic acquisition contract advances our shallow oil strategy in Hungary. Building on our successful experience with AGS, this program will provide a modern 3D seismic dataset to evaluate and rank our ten identified oil prospects. Our aim is to bring the strongest prospects to drill-ready status and support exploration drilling in 2027."

The 53,000-acre (215 km²) STA survey encompasses ten prospects identified from legacy seismic data. The broader STA oil fairway is supported by neighboring analog fields that have collectively produced over 160 million barrels of oil equivalent (MMBOE)¹, underscoring the region's resource potential. The area offers significant value creation potential, with each oil prospect targeting mean prospective net revenue of up to US$567 million, net of royalties and taxes², providing exposure to a multi-billion-dollar resource value.

Several seismic bright spots and flat spots have been interpreted as potential indicators of hydrocarbon accumulations. The new 3D survey will also cover a historically productive field, enabling calibration of seismic responses against known producing areas and well-log data.

The state-of-the-art, high-resolution, full-azimuth 3D seismic survey will utilize wireless nodal technology and is expected to achieve a maximum fold of 224, with approximately 20,000 source points and 27,000 receiver nodes. The 20 m x 20 m bin spacing is designed to support imaging of the shallow oil objectives.

The exploration workflow is consistent with approaches successfully employed across the broader Pannonian Basin by companies including Vermilion Energy, MOL Group and Aspect Energy. It will evaluate potential direct hydrocarbon indicators alongside mapped structural traps. Where these seismic responses conform to trap geometry, confidence in prospect interpretation can be enhanced.

Following completion of the initial pre-stack time migration, advanced seismic processing is planned, including full waveform inversion, to improve imaging and support the characterization of subsurface elastic properties.

¹ Reference: Hydrocarbons in Hungary, 2018. Edited by Z. Kovacs. ISBN: 978-615-00-2313-8 (independent source for production data reported in the KCA region).

² Legacy Field Size Distribution Analysis: PMean (Swanson) field size of 15 MMBOE. Revenue valuation of US$567 million at an oil price of $70/bbl, net of royalty & tax at 46%. Base case of 1.5 MMBOE corresponds to P50. Combined with creaming curve trend over time, exploration success via application of 3D seismic is constrained to 25 MMBOE.

Soltvadkert/Tazlar/Alpar Shallow 3D Seismic Program Overview 

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About CanCambria Energy Corp.

CanCambria Energy Corp. is a Canadian-based exploration and production company specializing in tight gas development. With a globally experienced leadership team, CanCambria focuses on high-quality, de-risked projects with direct access to profitable markets. Leveraging the industry's most advanced technologies, the Company aims to commercialize its flagship asset, the 100% owned Kiskunhalas Project in southern Hungary, a significant gas-condensate resource in the heart of Europe.

CAUTIONARY NOTE ON FORWARD-LOOKING INFORMATION

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 release.

Certain information other than statements of historical facts contained in this news release constitutes "forward-looking information" or "forward-looking statements" (collectively, "forward-looking information"). Without limiting the foregoing, such forward-looking information includes statements regarding the STA 3D Seismic Acquisition Program and STA Fairway, including, without limitation, the significant undeveloped potential of the STA Fairway, the advancement of the technical evaluation of opportunities, the Company's acquisition of its own 3D seismic survey and the expected benefits therefrom to enhance subsurface imaging, support prospect maturation and refine future exploration and development opportunities, the Company's acquisition of such survey targeted to begin in November 2026, the receipt of necessary regulatory approvals and the anticipation of drilling in 2027; the Company's provision of prospective resource disclosure in an NI 51-101 report and the Company's focus on high-quality, de-risked projects with direct access to profitable markets and the Company's business plans, expectations, capital costs and objectives. In this news release, words such as "may", "would", "could", "will", "likely", "believe", "expect", "anticipate", "intend", "plan", "estimate" and similar words and the negative form thereof are used to identify forward-looking information. Forward-looking information should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether, or the times at or by which, such future performance will be achieved. Forward-looking information is based on information available at the time and/or management's good faith belief with respect to future events and is subject to known or unknown risks, uncertainties, assumptions and other unpredictable factors, many of which are beyond the Company's control, including, without limitation, risks that the Company's plans for the STA fairway may not be completed as contemplated, or at all; risks that the Company's acquisition of its own 3D seismic survey over the STA Fairway may not be completed as contemplated, or at all; risks that the Company may not receive necessary regulatory approvals; risks that the Company may not provide prospective resource disclosure in an NI 51-101 report as contemplated, or at all; risks that the Company may not be able to carry out its exploration plans as contemplated, or at all and risks related to the Company's business plans, expectations, capital costs and objectives. The forward-looking information set forth herein reflects the Company's expectations as at the date of this news release and is subject to change after such date. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.

This news release contains future oriented financial information and financial outlook information (collectively, "FOFI") including, without limitation, statements regarding expected project break-even costs and are subject to the same assumptions, risk factors, limitations and qualifications as set forth in the above paragraph. The FOFI has been prepared by management to provide an outlook of the Company's activities and prospects, and such information may not be appropriate for other purposes. The Company and management believe that the FOFI has been prepared on a reasonable basis, reflecting management's reasonable estimates and judgments, however, actual results of operations of the Company and the resulting financial results may vary from the amounts set forth herein. Any FOFI speaks only as of the date on which it is made and the Company disclaims any intent or obligation to update any FOFI, whether as a result of new information, future events or results or otherwise, unless required by applicable laws.

OIL AND GAS INFORMATION ADVISORY

Reported production levels are historical or analogous, are not based on the Company's production and may not be reflective of the Company's future production rates across the KCA. Future production rates may differ materially from the historical and analogous production rates reflected in this news release due to, among other factors, difficulties or interruptions encountered during the production of hydrocarbons.

BOE

Barrels of oil equivalent ("boe") may be misleading, particularly if used in isolation. A boe conversion ratio of six thousand cubic feet of natural gas to one barrel of crude oil is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead. Given that the value ratio based on the current price of crude oil as compared to natural gas is significantly different from the energy equivalency conversion ratio of 6:1, utilizing a conversion on a 6:1 basis is misleading as an indication of value.

Analogous Information

Information in this news release regarding information relating to the proven hydrocarbon basin, including the basin's historical production based on other industry participants' recovery from such basin, in geographical proximity to properties that are or may be held by the Company, may constitute "analogous information" within the meaning of NI 51-101. This information is derived from publicly available information sources (as at the date of this news release), including independent government sources, regulatory agencies, or other industry participants that the Company believes (but cannot confirm) to be independent in nature. The Company is unable to confirm that the information was prepared by a qualified reserves evaluator or auditor within the meaning of NI 51-101, or in accordance with the Canadian Oil and Gas Evaluation (COGE) Handbook. Although the Company believes that this information regarding the oil and gas fields located within and adjacent to the KCA helps management understand and define reservoir characteristics of lands in which the Company has an interest or may hold an interest, the data relied upon by the Company may be inaccurate or erroneous, may not, in fact, be indicative of or otherwise analogous to the Company's land holdings, and may not be representative of actual results from wells that may be drilled or completed by the Company in the future. Such information is not an estimate of the reserves, resources, or asset characteristics attributable to properties held or potentially to be held by the Company, and there is no certainty that the reservoir data and economic information for the properties held or potentially to be held by the Company will be similar to the information presented in this news release.

Abbreviations

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