Criterium Energy Ltd.

Criterium Energy Ltd. announces that as a result of delays in the completion of its audit, the Company anticipates that it will experience a short-term delay in filing its audited consolidated annual financial statements for the year ended December 31, 2024 , the related management's discussion and analysis, and its Form 52-109FV1 CEO and CFO certifications of annual filings . Under National Instrument 51-102 - Continuous [...]

1.4 MMbbl proved , 4.6 MMbbl proved plus probable , and 10.0 proved plus probable plus possible Reserves1 2P reserves replacement ratio of 160% since assets acquired in January 20242 2P reserve NPV10 before tax of US$72.8 million and US$60 million after tax1, equating to C$0.62 per common share3 Increased SE-MGH 2C gas resource by 100% to 15 bcf recoverable1,2, targeting first production in Q1 2026. Tungkal 2C resource [...]

Fully funded SE-MGH gas development expected to add ~1,000 boe/d in production where historical long-term take-or-pay contracts have ranged between $4-7/MMbtu 2025 oil production of 1,000 - 1,200 bbl/d, supported by 8-12 workovers with a focus on increasing margins through further operating cost reductions Reduced amortization payments US$2MM, resulting in cash to fund SE-MGH gas development while achieving US$3.5MM [...]

Progressed development of the Southeast Mengoepeh gas field, highlighted by Memorandum of Understanding signed with PT BlueEnergy for gas offtake. Exited the fourth quarter with December production of 960 bbl/d1; January 2025 production to date has averaged 1,020 bbl/d1. Total of 15 workovers completed in 2024 increasing Mengoepeh field production by 65%1 over Q4 2023. Continued cost reductions led to December operating [...]

Averaged 879 bbl/d in the third quarter, increasing to an average 946bbl/d4 in October and reached production of 1,000 bbl/d4 for the first time in mid-November Premium average realized price for the quarter in excess of US$80/bbl vs WTI of US$76 Realized cash flow from operations of C$1.5 million, swinging from negative cash flow in the first half of the year Criterium Energy Ltd. , an independent upstream energy [...]

Criterium Energy Ltd. , an independent upstream energy development and production company focused on energizing growth for Southeast Asia and its shareholders, is pleased to provide an operational update related to optimization and drilling activities in the Company's 100% owned and operated Tungkal PSC Indonesia . Intervention and Workover Activities Continue to Exceed Expectations A key focus area for Criterium has been [...]

Criterium Energy Ltd. is pleased to announce the appointment of Mr. Matthew Klukas, Chief Executive Officer , to its Board of Directors, where he will serve as an Executive Director. Mr. Klukas was appointed CEO of Criterium on September 6th 2024, bringing over 15 years of experience in the SE Asia energy sector. Prior to assuming the role of CEO, Mr. Klukas served as the Company's Chief Operating Officer since its [...]

Criterium Energy Ltd. announces that Mr. Robin Auld has resigned as a director of the Company. Mr. Auld has been a director of the Company since its recapitalization in 2022. The Company thanks Mr. Auld for his service and wishes him continued success in his future endeavors. About Criterium Energy Ltd. Criterium Energy Ltd. is an upstream energy company focused on the acquisition and sustainable development of assets in [...]

Criterium Energy Ltd. , is pleased to announce the following key executive leadership appointments. In addition, the Company confirms the imminent spud of MGH-43, the first of two planned and operated infill wells to be drilled from a new well-pad within the proven Mengoepeh field situated on its 100% owned and operated Tungkal PSC . Executive Appointments Effective immediately, Criterium is pleased to confirm the [...]

Criterium Energy Ltd. , is pleased to announce that the Company has received a US$500,000 non-refundable payment from the buyer of its wholly owned subsidiary which owns a 42.5% non-operated working interest in the Bulu Production Sharing Contract, as originally announced on May 21, 2024 . Details of the Additional Bulu Payment Inclusive of this US$500,000 non-refundable payment, to date Criterium has received [...]