Bengal Energy Reports Net Loss, Higher Oil Sales Revenue

Bengal Energy Ltd., an international junior oil and gas exploration and production company with assets in Australia, announced its financial and operating results for the year end and first quarter of fiscal 2027 ended June 30, 2026.

The Company reported a net loss of $0.2 million in the first quarter of fiscal 2027, consistent with the first quarter of fiscal 2026. Pricing was higher in the first quarter of fiscal 2027, offset by lower volumes between the two periods.

Crude oil sales revenue was $1.4 million in the first quarter of fiscal 2027, a 30% increase from $1.0 million in the same period last year. The higher revenue was due to increased pipeline oil volume and improved realized oil prices, which averaged US$124.26 per barrel.

Bengal's share of total Cuisinier production in the current quarter was 9,860 barrels (108 barrels per day), a decrease of 10% compared to production of 10,910 barrels (120 barrels per day) in the first quarter of fiscal 2026.