Mr. Jim Hill reports

MCF ENERGY UPDATE OF DRILLING OPERATIONS ON THE KINSAU-1A WELL IN GERMANY

MCF Energy Ltd. has provided an operational update for the Kinsau-1A well in Lech, Germany.

Background

The Kinsau-1A drilling project is a re-entry and redrill of the Kinsau-1 discovery well, originally drilled in 1983 by Mobil, which produced impressive test results of over 24 million cubic feet (MMCF) of gas and condensate per day. Mobil drilled the Kinsau-1 well to a depth of 3,940 metres, where it encountered basement rocks. Gas and condensate indications were found within the Jurassic Purbeck formation at 3,179 metres. The well was completed by stimulating it with acid and tested over a 22.5-metre perforated interval. The entire well test took 3.5 months to complete. A variable rate test was conducted on July 28 to July 29, 1983, with three flowing rates reported: 7,712 thousand cubic feet per day (MCFD) at 2,973 psi, 14,832 MCFD at 2,785 psi and 24,706 MCFD (thousand cubic feet per day) at 1871 psi. The total test pressure dropped from 4,110 psi to 4,090 psi (283.4 to 282 bar). The test resulted in a recovery of 45.9 MMCF of gas and 1,510 barrels of condensate. These test results are not necessarily indicative of long-term performance or of ultimate recovery.

Genexco GmbH, a 100-per-cent subsidiary of MCF Energy Ltd., is a 20-per-cent partner in the Kinsau-1A well.

Operational update

After reaching a depth of 3,022 metres on Sept. 8, Kinsau-1A well ran logs and cemented 9-five/eighths-inch casing at a depth of 3,006 metres. On Sept. 9 the well began drilling ahead and on Sept. 10th the Jurassic Purbeck carbonate interval was penetrated. The Purbeck is the first target of the Kinsau-1A well. The second target is the Jurassic Malm carbonate which was oil productive in the Mobil Kinsau-2 well drilled to the west of the Kinsau-1A location in 1983.

The section drilled between seven and 15 metres per hour, and the Purbeck interval was identified at the expected depth using recovered samples. Good shows of hydrocarbons were identified and there was some oil seen on the mud pits. Drilling continued into the Malm which was identified at the expected depth. The well appears to have gained about four to six metres of structural elevation to the Mobil Kinsau-1 well. The well reached total depth of 3,310 metres. Well logging activities are currently being conducted. Formation tops will be revised after logs are run.

James Hill, chief executive officer of MCF Energy, said: "I am at the well site and was very excited to see the results when we encountered the Purbeck and the second target interval the Malm Carbonate. Germany has significant natural gas resources within their borders which can reduce imports, keep money in Germany and provide energy security for both personal and industrial needs. Natural gas found within Germany will have a much lower carbon footprint than imported gas further helping the environment."

About MCF Energy Ltd.

MCF Energy was established in 2022 by leading energy executives to strengthen Europe's energy security through responsible exploration and development of natural gas resources within the region. The company has secured interests in several significant natural gas exploration projects in Austria and Germany with additional concession applications pending. MCF Energy is also evaluating additional opportunities throughout Europe. The company's leaders have extensive experience in the European energy sector and are working to develop a cleaner, cheaper and more secure natural gas industry as a transition to renewable energy sources. MCF Energy is a publicly traded company and headquartered in Vancouver, B.C.

We seek Safe Harbor.