Mr. Dan Brown reports

WESTGATE ENERGY PROVIDES OPERATIONAL UPDATE

Westgate Energy Inc. has provided an operational update following the completion of its latest drilling program in the Beaverdam area of Alberta.

Drilling results

The company has successfully completed its previously announced fall drilling program at its Beaverdam asset. The program included two vertical stratigraphic test wells and three horizontal wells targeting two Mannville Stack horizons. Due to a simplified well design, the company was able to drill the three horizontal wells in an average of 6.7 days per well, leading to an average cost of $1.06-million per well. This represents an average reduction of four days per well and a 25-per-cent cost decrease on the drilling portion compared to the company's previous three-well program.

All three horizontal wells encountered their respective target zones, and oil shows were observed in all three wells. Current operations include downhole completion and facility construction, with an expected on-stream date of mid-December for all three wells.

Management commentary

"We are very pleased with the strong results delivered by our second three-well program at Beaverdam. The stratigraphic test wells enhanced our geological mapping and inventory definition, providing high-value data that will directly inform and optimize the 2026 drilling program. Importantly, the fall 2025 program was executed under budget, reinforcing our commitment to disciplined capital allocation. Westgate looks forward to building on both our operational performance and cost efficiencies as we advance into 2026."

About Westgate Energy Inc.

Westgate is focused on the emerging Mannville Stack fairway located in northeast Alberta and west-central Saskatchewan, a region with established medium and heavy oil accumulations. Producers in this fairway are increasingly unlocking these reservoirs with modern horizontal drilling and completion techniques, which have materially improved well performance and capital efficiency. Activity to date has delivered some of the strongest oil well economics in Western Canada.

We seek Safe Harbor.