TENAZ ENERGY CORP. ANNOUNCES Q3 2026 RESULTS, 2027 GUIDANCE, AND LONG-RANGE PLAN

(TSX:TNZ) Tenaz Energy Corp. announced its financial and operating results for Q3 2026, along with 2027 production and capital guidance and a preliminary long-range plan. Production averaged 22,122 boe/d in Q3 2026, up 29% from Q2 2026 and 42% from Q4 2025, despite unplanned downtime on non-operated assets reducing Q3 production by 1,100 boe/d. Funds flow from operations (FFO) for Q3 2026 was $131.3 million ($3.97 per basic share), compared to $74.2 million ($2.26 per basic share) in Q2 2026, with realized pre-tax hedging losses of $54.4 million. Capital investment for Q3 2026 was $99.0 million, generating free cash flow of $32.3 million. Three wells (1.8 net) were brought on production and four wells (1.9 net) were drilled in the quarter. In the Netherlands, the K17-FA-103 well (60% WI) was brought on production late in Q3 at an initial rate of 18.0 MMcf/d (10.8 MMcf/d net), and the K17-FA-102B sidetrack well (60% WI) was horizontally drilled, encountering 800 meters of gas-saturated sandstone. The Triton 10 jackup barge completed a workover campaign on L09-FA (50% WI), delivering initial production of 8.1 MMcf/d (4.0 MMcf/d net) with a projected payout period of three months at current TTF prices. The N05-A-02X well (33% WI) at GEMS was brought on production in Q3 2026 and is currently producing 71.0 MMcf/d (23.6 MMcf/d net), with current throughput on the N05-A platform at approximately 165 MMcf/d gross (55 MMcf/d net). The N05-A-Noord Z1X well (32.3% WI) was drilled but encountered gas saturations too low to be economical and has been suspended for potential future use. Operating netback for Q3 2026 was $104.52/boe, a 51% increase from Q2 2026, and unit operating costs decreased 14% to $26.47/boe. FFO netback for Q3 2026 was $64.50/boe, a 35% increase from Q2 2026. Net debt at the end of Q3 2026 was $366.1 million, down slightly from Q2 2026, and the company remains undrawn on its $250 million secured revolving reserve-based lending facility. Net loss for Q3 2026 was $74.3 million, compared to net income of $89.0 million in Q2 2026, driven by a pre-tax unrealized loss of $285.0 million on derivative instruments. During Q3 2026, Tenaz repurchased 128,800 shares at a weighted average price of $56.60 per share, and since 2022 has retired 2.7 million shares at an average cost of $10.33 per share. The Board approved a 2027 capital expenditure budget of $300 to $350 million, with production guidance of 26,000 to 30,000 boe/d, representing approximately 40% year-over-year growth at the midpoint. The preliminary long-range plan indicates the capability to organically increase production up to 40,000 boe/d by the end of 2030. Year-to-date, Tenaz shares have appreciated 133%, and since Q3 2021 recapitalization, have returned 3,333%. For Q3 2026, petroleum and natural gas sales were $273,720,000, cash flow from operating activities was $98,646,000, and capital expenditures were $98,969,000. Average daily production in Q3 2026 included 1,100 bbls/d heavy crude oil, 272 bbls/d natural gas liquids, and 124,498 Mcf/d natural gas. Benchmark commodity prices in Q3 2026 included WTI at $85.79/bbl, WCS at $100.56/bbl, AECO at $1.57/Mcf, and TTF at $29.90/Mcf. The company’s Netherlands production averaged 19,771 boe/d in Q3 2026, up 36% over the prior quarter, with the N05-A platform at GEMS offline for approximately ten days in August, impacting quarterly production by approximately 1,100 boe/d. Three drilling rigs were active during the quarter: one on operated DNS assets, one on the ONE-Dyas-operated GEMS asset, and one on the Eni-operated K12-G platform.

Tenaz Energy Corp. Announces Q2 2026 Results

(TSX: TNZ) Tenaz Energy Corp. announced financial and operating results for the second quarter of 2026, reporting production that averaged 17,125 boe/d in Q2 2026, up 6% from Q1 2026 and more than double Q2 2025, due to organic development and two major acquisitions completed in 2025. Funds flow from operations for the second quarter was $74.2 million ($2.26 per basic share), compared to $64.6 million ($2.02 per basic share) in Q1 2026. Capital investment for the second quarter was $58.2 million, resulting in Q2 2026 free cash flow of $16.0 million. Net income of $89.0 million was recorded in Q2 2026, compared to a net loss of $111.1 million in Q1 2026, with a $94 million unrealized gain on derivative instruments. Tenaz ended Q2 2026 with a net debt position of $378.2 million, a decrease of $11.2 million over the previous quarter. During Q2 2026, Tenaz repurchased 143,100 shares at a weighted average price of $49.78 per share, and since 2022 has retired 2.6 million shares at an average cost of $8.06 per share. The company projects preliminary production for July 2026 of approximately 23,000 boe/d (90% European natural gas) and expects to deliver strong growth in the second half of the year.

Tenaz Energy Corp. Announces 2026 Annual Meeting Results

Tenaz Energy Corp. (TSX: TNZ) announced the results of its annual meeting of shareholders held on May 27, 2026. At the meeting, 10,552,909 common shares, representing approximately 32.7% of the Company's issued and outstanding shares, were represented in person or by proxy. All matters put forward before the shareholders, as set out in the management information circular dated April 22, 2026, were approved. The number of directors was fixed at 6, and all six nominees were elected as directors with high approval percentages. Deloitte LLP was reappointed as auditor of the Company. Tenaz Energy Corp. is focused on the acquisition and sustainable development of international oil and gas assets, and is the largest natural gas producer in the Netherlands. The Company's common shares are listed on the Toronto Stock Exchange under the symbol "TNZ".

Tenaz Energy Corp. Announces Q1 2026 Results

Tenaz Energy Corp. (TSX: TNZ) announced its financial and operating results for Q1 2026, reporting average production volumes of 16,183 boe/d, a 4% increase from Q4 2025 and nearly five times higher than Q1 2025 due to two major acquisitions in 2025. Operating netback for Q1 2026 was $57.48/boe, up 19% from Q4 2025 and 67% over Q1 2025, with funds flow from operations at $64.6 million. Capital investment for the quarter was $92 million, about 30% of the 2026 capital expenditure program, and the company increased its 2026 capital investment plan to $300 million. Net debt at the end of Q1 2026 was $389.4 million, and Tenaz shares have appreciated 131% year-to-date and 3,306% since Q3 2021. The company has secured a new two-year Reserve Based Loan with a $250 million limit, of which $35 million was drawn at quarter-end.