Orca Energy Group Inc. announces the approval of its Independent Reserves Evaluation as at December 31, 2025. The Company’s conventional natural gas reserves for the Songo Songo PSA have been evaluated by McDaniel & Associates Consultants Ltd. The Songo Songo PSA expires in October 2026. Total Proved Gross Company reserves decreased by 57%, while Total Proved plus Probable reserves decreased by 54%. Gas sales in 2025 were 26.2 Bcf. Net present value of future net revenue at 10% discount decreased by 53% for 1P reserves and 51% for 2P reserves. The Company’s reserves are located in Tanzania.

The Petroleum Act, 2015 was passed into law in Tanzania, providing a regulatory framework for the oil and gas industry. The Act vests TPDC with exclusive rights in the petroleum upstream value chain and the natural gas mid and downstream value chain. Orca sold and repurchased shares in PAET, affecting the reserves evaluation. McDaniel used gas sales, pricing, and inflation rate assumptions for the reserves evaluation. Orca trades on the TSX Venture Exchange under ORC.A and ORC.B. The forward-looking statements in the news release are subject to numerous risks and uncertainties.

Read more at GlobeNewswire: Orca Energy Group Inc. Announces Independent Reserves