Bengal Energy Reports Net Loss in Q1 F2027 Amid Lower Production Volumes

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 first quarter of fiscal 2027 ended June 30, 2026. The Company reported a net loss of $0.2 million in Q1 F2027, consistent with the first quarter of fiscal 2026.

The increase in sales revenue was driven by higher pipeline oil volume and realized oil prices. Realized oil prices averaged US$124.26 per barrel during Q1 F2027, a significant 87% higher than US$66.56/bbl during Q1 fiscal 2026. The Company's share of total Cuisinier production in the current quarter was 9,860 bbls (108 bopd), a decrease of 10% compared to production of 10,910 bbls (120 bopd) in the first quarter of fiscal 2026.

Bengal is evaluating total field performance and exploring potential farm-out opportunities. The Company has filed its consolidated financial statements and management's discussion and analysis for the quarter ended June 30, 2026, with the Canadian securities regulators.