Mr. Dan Brown reports

WESTGATE ENERGY PROVIDES OPERATIONAL AND CAPITAL MARKETS UPDATES

Westgate Energy Inc. has provided an operational update following the drilling of its three-well program in the Beaverdam area of Alberta.

Drilling results

The company has completed drilling of its previously announced three-well program as of June 30, 2025. This involved constructing a new multiwell pad, drilling a stratigraphic test well and drilling three horizontal wells that targeted three distinct Mannville stack horizons. The first horizontal well targeted the McLaren horizon and came in under budget. The second and third horizontal wells targeted the Colony and General Petroleum horizons, respectively, and both were on budget.

The program was an operational success for the drilling of the stratigraphic test and the three horizontal wells. All three wells encountered their desired target zones, and oil shows were observed throughout the lateral section of all wells. Currently, the company is constructing production facilities and expects to have the three wells on production by mid-August.

Management commentary

The company is very pleased with the operational success of its three-well program. The stratigraphic test well confirmed the company's key zones of interest, and Westgate's team delivered the first wells in the area on or under budget. Westgate is excited to bring these wells on line and establish first production in the company's new Beaverdam area.

OTCQB listing and DTC (Depository Trust Company) eligibility

Westgate also announces that, as of June 25, 2025, its common shares have commenced trading on the OTCQB market under the symbol WGTFF. The OTCQB is a trading platform operated by the OTC Markets Group and is designed for early-stage and developing U.S. and international companies. As an OTCQB-listed company, investors will have access to real-time Level 2 quotes for Westgate's shares on the OTC Markets Group websites.

In addition, the company has received eligibility from the Depository Trust Company, a subsidiary of the Depository Trust & Clearing Corp., that manages the electronic clearing and settlement of publicly traded securities in the United States. DTC eligibility simplifies the trading process and enhances liquidity for U.S. investors by enabling shares to be traded electronically. These advancements reflect Westgate's commitment to increasing its visibility and accessibility among a broader base of investors in both Canada and the United States.

Investor relations

Westgate has entered into a marketing agreement with Epstein Research (Peter Epstein), pursuant to which Mr. Epstein will provide investor relations services to the company for an initial six-month term commencing on May 29, 2025, in consideration for an aggregate of $15,000 (U.S.) at a rate of $2,500 (U.S.) per month. The company has the right to renew the marketing agreement for an additional six months, subject to the approval of the TSX Venture Exchange. In accordance with the terms of the marketing agreement, Mr. Epstein will work with the company on preparing and disseminating social media commentary and producing monthly articles and commentary designed to develop a positive and productive profile for the company within the marketplace. The marketing agreement has been conditionally approved by the TSX-V. Mr. Epstein is based in Upper Saddle River, N.J., and operates the Epstein Research website. Mr. Epstein does not own any securities of the company or any right to acquire securities of the company. Mr. Epstein is an arm's-length party to the company.

About Westgate Energy Inc.

Westgate is focused on the emerging Mannville stack fairway located in northeastern Alberta and western-central Saskatchewan. This fairway is characterized by known accumulations of medium and heavy oil, which are being unlocked through the application of innovative drilling techniques that utilize various styles of horizontal drilling. Applying these horizontal drilling techniques has yielded some of the strongest oil well economics across Western Canada.

The management team and board of Westgate have extensive experience building and leading successful energy companies in Canada. The collective successes of the leadership group share common characteristics: a strategy of targeting high-quality oil assets with large quantities of oil in place and driving growth through successful drilling as well as strategic merger and acquisition opportunities. This proven blueprint of delivering shareholder value is foundational to Westgate's strategy, positioning the company as one of a select few pure play, high-growth, publicly traded junior oil companies focused on the Mannville stack fairway.

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