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CALGARY, AB, May 14, 2026
CALGARY, AB, May 14, 2026 /PRNewswire/ - NG Energy International Corp. ("NGE" or the "Company") (TSX: GASX) (OTCQX: GASXF) is pleased to announce that it has filed its financial results for the three months ended March 31, 2026. The Company's interim condensed consolidated financial statements and management's discussion and analysis for the three months ended March 31, 2026 are available on the Company's website (www.ngenergyintl.com) and profile on SEDAR+ (www.sedarplus.ca).
Q1 2026 Highlights
Subsequent to Quarter-End
Jorge Fonseca, CEO of NG Energy, commented: "Q1 2026 is the foundation of what we believe will be an exceptional year of growth for NG Energy. We closed our transactions with Maurel & Prom and the minority partners at Sinú-9, transforming our balance sheet, and immediately followed with a significant new gas-bearing interval identified in the Pre-CDO–San Cayetano zone at Hechicero-1X – the first well of the 2026 drilling campaign operated by Maurel & Prom. Reaching the technical limit of current pipeline capacity at Sinú-9 in the first well of a six-well campaign, with infrastructure expanding to support substantially higher volumes, is a strong early indicator of what this program can deliver. At Maria Conchita, Aruchara-5 has reached its total vertical depth with positive showings, and we expect a further meaningful contribution to production when it is tied in at the end of May. With two fields performing, a fully funded drilling program, and the infrastructure to handle substantial volume growth, 2026 is shaping up to be the year NG Energy demonstrates the true scale of what we have built in Colombia."
Brian Paes-Braga, Executive Chairman of NG Energy, commented: "Everything the entire team has worked so hard towards over the past several years is now starting to bear fruit. The balance sheet is transformed, our assets are performing with infrastructure built and growing, and we have the right people and partners in place to execute on our ambitious growth plans. The Pre-CDO–San Cayetano results at Hechicero-1X add a new productive interval to the Sinú-9 Block and expand the prospective footprint for the remaining five wells of Maurel & Prom's 2026 drilling campaign, in a field where we are still only beginning to understand its true potential. When you combine that with sustainable growth at Maria Conchita which the team is expecting this year, potential infrastructure scaling to 90 MMcf/d at Sinú-9 (35.1 MMcf/d net to NGE), and the premium pricing environment in Colombia, the setup for industry leading production, revenue and cash flow growth is upon us. We continue to be very proud of the impact we are also having in the natural gas sector in Colombia, where the country continues to be experiencing a structural deficit in supply. All of us at NGE are motivated every single day to bring this much needed energy to market while earning our stakeholders enduring value."
About NG Energy International Corp.
NG Energy International Corp. is a growth-orientated natural gas exploration and production company focused on delivering long-term shareholder and stakeholder value through the discovery, delineation and development of large-scale oil and gas fields in the Americas, supporting energy transition and economic growth. NGE's team has extensive technical and capital markets expertise with a proven track record of building companies and creating significant value in North and South America. In Colombia, the Company is executing on this mission with a rapidly growing production base and an industry-leading growth trajectory, delivering natural gas into the premium-priced Colombian marketplace with a goal of being a material supplier of clean natural gas to Colombia and a broader vision of becoming a global energy platform business and providing prosperity for all stakeholders. Over the past 3 years, the Company has successfully raised and deployed over US$200 million in debt and equity, monetized 40% of one of its assets for US$150 million in cash and has partnered in the construction and commissioning of 3 gathering, processing and treatment facilities and associated pipelines with significant capital contributions from insiders who currently own approximately 32% of the Company. For more information, please visit SEDAR+ (www.sedarplus.ca) and the Company's website (www.ngenergyintl.com).
Cautionary Statement Regarding Forward-Looking Information
This news release contains "forward-looking information" and "forward-looking statements" (collectively, "forward-looking statements") within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release, including, without limitation, statements related to drilling activities at both the Sinu-9 Block and the Maria Conchita Block, the timeline for infrastructure construction at the Sinu-9 Block, the future prices realized for sales of natural gas and the Company's intention to apply for a normal course issuer bid. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements.
Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Factors that could cause actual results to differ materially from those anticipated in these forward-looking statements are described under the caption "Risk Factors" in the Company's most recent Management Discussion and Analysis and its Annual Information Form dated March 27, 2026, which are available for view on SEDAR+ at www.sedarplus.ca. These risks include but are not limited to, the risks associated with the oil and natural gas industry, such as exploration, production and general operational risks, the volatility of pricing for oil and natural gas, the inability to market natural gas production and changes in natural gas sale prices, changing investor sentiment about the oil and natural gas industry, any delays in production, marketing and transportation of natural gas, drilling costs and availability of equipment, regulatory approval risks and environmental, health and safety risks. Forward-looking statements contained herein are made as of the date of this news release, and the Company disclaims, other than as required by law, any obligation to update any forward-looking statements whether as a result of new information, results, future events, circumstances, or if management's estimates or opinions should change, or otherwise. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, the reader is cautioned not to place undue reliance on forward-looking statements.
No securities regulatory authority has either approved or disapproved the contents of this news release. The Toronto Stock Exchange accepts no responsibility for the adequacy or accuracy of this news release.
Abbreviations
The abbreviations set forth below have the following meanings:
| Oil, Natural Gas Liquids and Natural Gas | ||
| Mcf/d | thousand cubic feet per day | |
| MMcf/d | million cubic feet per day | |
| NGL | natural gas liquids | |
| | ||
| Other | ||
| H2 | second half | |
| Q1 | first quarter | |
Information Regarding the Company's Working Interest Disclosure
With regard to the Company's working interests held in both the Maria Conchita and Sinu-9 Blocks, which are held by MKMS Enerji Sucursal Colombia ("MKMS Colombia"), the Colombian branch of the Company's indirect wholly-owned subsidiary, Operadora NG Energy International, S.A. (formerly, MKMS Enerji Anonim Sirketi S.A.) ("Operadora"), in both the context of this news release and the Company's previous news releases, the term "working interest", ultimately refers to the rights and obligations agreed to, eventually, materialize a contractual interest in an exploration and production contract before the ANH, subject to the fulfillment of certain conditions. These conditions involve the assumption of financial risks and are generally linked to exploration by virtue of joint operating agreements. Once such conditions are fulfilled, the acquisition of a registered contractual interest, as party of record, in the exploration and production contract may materialize, by way of a request for approval of assignment before the ANH. For this reason, as is common practice within the oil and natural gas industry as a whole, the disclosed "working interest" may not coincide with the Company's current contractual interest in the exploration and production contract.
The assignment and allocation of "working interests" does not affect or undermine, in any way, the rights and obligations of registered parties under the relevant exploration and production contracts. Registered parties, such as Operadora, remain wholly and totally liable before the ANH, the Colombian authorities and third parties in connection with any and all obligations, risks and liabilities derived from the execution, performance or termination of the exploration and production contracts. Conversely, the rights and obligations that comprise "working interests" are only enforceable vis a vis between the executing parties under private agreements, and have no legal effects before the ANH, the Colombian authorities or third parties.
With respect to the Sinu-9 Block, the Company (through Operadora and MKMS Colombia) is a party of record and holds a 39% contractual interest in the exploration and production contract for the Sinu-9 Block granted by and entered into with ANH. With respect to the Maria Conchita Block, the Company (through Operadora and MKMS Colombia) holds 100% of the contractual interest as the sole party and operator of record under the relevant exploration and production contract entered into with the ANH, and holds an 80% working interest under private agreements with third parties.
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SOURCE NG Energy International Corp.
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