Mr. Leo Berezan reports

WESCAN ENERGY ANNOUNCES LOAN TRANSACTION

Wescan Energy Corp. has entered into a loan arrangement with a numbered British Columbia company, whereby the lender will provide a loan to the company. Under the terms of the loan, the lender will provide a loan financing amount of $2-million for a three-year term at an annual interest rate of 12 per cent, with interest payments completed monthly and with amortization of same over a period of three years from the date of the loan.

The purpose of the loan is to finance the drilling of a multilateral horizontal oil well in the Provost area of Alberta, as part of the company's 2025 capital program, targeting oil development in the Mannville group. The loan proceeds will be used to finance drilling, completion and associated capital expenditures . The loan is secured by way of a general security agreement covering all of the personal property of the company. Final details of the loan are subject to acceptance of the TSX Venture Exchange.

This loan is considered to be a related party transaction, pursuant to Multilateral Instrument 61-101, as the sole director, officer and controlling shareholder of the lender is a director, officer and a control person of the company, but the company is availing itself of the exemptions from obtaining a formal valuation and obtaining majority of the minority approval due to the exemptions available in sections 5.5(b) and 5.7(1)(f) of the said instrument.

We seek Safe Harbor.