Pulse Oil's Bigoray EOR Program Faces Execution Risks Amid Debt Costs

Pulse Oil Corp. (TSXV:PUL), an Alberta-focused oil producer, is banking on its enhanced oil recovery (EOR) program at Bigoray to stay afloat amidst rising debt costs and a battered share price.

The company's entire investment case now rests on the success of solvent injection into two mature Nisku reservoirs at Bigoray, which has shown early production gains but is facing execution risks due to expensive short-dated debt.

Pulse Oil holds a 100% working interest in the Nisku pinnacle reef reservoirs and has been injecting approximately 75 cubic meters of solvent daily since June 2025, with total injected volume reaching 23,034 cubic meters by December 2025.

The company's amended facility agreements increase its loan amount to CA$4.25 million, carrying a revised maturity date of June 9, 2026, and an interest rate of 15% per annum compounded monthly.