CanCambria Energy's Hungarian Gas Project Soars in Value Amid European Price Surge

CanCambria Energy Corp., a Canadian-based exploration and production company, has announced an increase in the value of its independent contingent resource evaluation for its deep gas project in southern Hungary.

The updated report, prepared by Chapman Hydrogen and Petroleum Engineering Ltd. (CHPE), estimates that the net present value discounted at 10% (NPV10) of the Company's base-case risked 2C Development Pending contingent resource has increased by 16%, from $1.762 billion to $2.04 billion.

This increase is attributed to a stronger long-term outlook for European natural gas prices, which are currently at US$18.50/MMBtu (TTF¹), compared to the previous assumption of US$10.00/MMBtu (TTF1).

The field development model has first production scheduled for mid-2027 and full field development increasing in 2028 with an inventory of 112 wells.