Decimus Oil Corp. press release

Decimus Announces 2025 Year End Financial Results And Reserves

2026-04-30

TSXV - TSX Venture Exchange · Oil · Natural Gas · Natural Gas Liquids · Canada · Corporate Finance

(TheNewswire)

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Calgary, Alberta (April 30, 2026) - TheNewswire– Decimus Oil Corp. (“WCSB” or the “Company”) (TSXV:WCSB) is pleased to report its financial and operating results for the fourth quarter and year ended December 31, 2025, as well as highlights of the Company’s year-end reserves evaluation.

Selected financial and operational information is set out below and should be read in conjunction with the Company’s audited consolidated annual financial statements and related management's discussion and analysis ("MD&A") for the years ended December 31, 2025, and 2024, which are filed on SEDAR+ at www.sedarplus.ca and are available on the Company’s websitewww.decimusoil.com. The highlights reported in this press release include certain non-GAAP financial measures and ratios which have been identified using capital letters. The reader is cautioned that these measures may not be directly comparable to other issuers; please refer to additional information under the heading “Reader Advisories – Non-GAAP Measures and Ratios”.

MESSAGE TO SHAREHOLDERS

“During 2025 Decimus successfully executed on several key initiatives including strong production growth, continued optimization of our waterflood activities and our ongoing cost reduction initiatives across our properties. These initiatives resulted in per share reserve growth and reserves volume growth in proved developed and producing (“PDP”) reserves increase of 29%, total proved (“TP”) reserves increase of 18% and total proved plus producing (“TPP”) reserves increase of 14%. We continued to see positive results from our waterflood injection programs at Murray Lake & Hays, leading to higher overall recoveries, while maintaining reservoir pressures, lowering decline rates while extending the economic life of our reserves.

Several highlights during the calendar year included corporate production increased by 90% when comparing to 2024, we increased cashflow from operating activities by 230% while reducing its operating cost by 10% and lowered its infrastructure and water flood reinjection costs. In addition, investments in upgrading our emulsion & water treating infrastructure in 2024, resulted in a 42% increase in third-party processing income during 2025, as the Company secured several new customers, which also further reduced our field operating costs. 2025 capital expenditures totalled $205,060, a 70% decrease from 2024 of $691,151, as the Company balanced its capital spending within available cashflows. I wanted to extend my gratitude to our employee’s at Decimus for their ongoing dedication, our board of directors and shareholders for their continued support,” commented Cameron MacDonald, President & CEO.

2024 FINANCIAL, OPERATING AND RESERVE HIGHLIGHTS

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Production– delivered quarterly production of 163 Boe/d (44 % Oil) in the fourth quarter of 2025 and annual production averaged 175 Boe/d (47 % Oil) in 2025, an increase of 90% from 92 Boe/d (91% Oil) when compared to 2024.

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Operating Cash Flows- delivered cash provided by operating activities of $411,617, a 230% increase when compared to $124,785 in 2024, adjusted funds flow(1)of ($425,301).

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Operating Netback– despite a challenging commodity prices environment in 2025, Operating Netback, before hedging, averaged $4.96/Boe, a 42% reduction from 2024, attributed to lower WTI AECO prices while increasing gas-weighting.

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Capital Expenditures- The Company executed a conservative capital program of $205,060 in 2025, a 70% decrease from $691,151 in 2024. The minimal capital maintenance required during 2025 demonstrates the quality of its low decline, long-life reserves, which will support future development of drilling opportunities.

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Tax Pools- As of December 31, 2025, the Company had $24 million in tax pools, of which $19.5 million are non-capital losses (NCL).

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Year-End Reserves- demonstrated positive organic growth through its ongoing waterflood program and cost reduction initiatives, resulting in proved developed and producing reserves (“PDP”) increased by 29% (23% per share, diluted), total proved reserves (“TP”) increased by 18% (13% per share, diluted basis), and total proved plus probable reserves (“TPP”) increased by 14% (9% per share, diluted). The Company’s before tax net present value (“NPV”) reserves, discounted at 10%, decreased by 61% on a proved developed and producing reserves (“PDP”), decreased by 18% on a total proved reserves (“TP”) and a decreased its total proved plus probable reserves (“TPP”) by 10% year over year.

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Per Share Value Growth– successfully achieved per share reserve growth (1) on a fully diluted increase by a 23% (“PDP”), 13% (“TP”) and 9% (“TPP”) from 2024.

The following table summarizes the Company’s financial and operating results for the fourth quarters and years ended December 31, 2025, and December 31, 2024.

OPERATIONAL AND FINANCIAL HIGHLIGHTS

| | Three months ended

December 31 | Twelve months ended

December 31 | | | | | | ($) | 2025 | 2024 | % change | 2025 | 2024 | % change | | Total oil, natural gas and processing revenue | 611,270 | 533,746 | 15 | 2,726,467 | 2,810,020 | (3) | | Cash flow from operating activities | 239,010 | (235,056) | (202) | 411,617 | 124,785 | 230 | | Per share – basic | 0.01 | (0.01) | (200) | 0.01 | - | - | | Per share – diluted | 0.01 | (0.01) | (200) | 0.01 | - | - | | Adjusted funds flow (1) | (146,906) | (270,379) | (46) | (425,301) | (396,998) | 7 | | Per share – basic (2) | - | (0.01) | (100) | (0.01) | (0.01) | - | | Per share – diluted (2) | - | (0.01) | (100) | (0.01) | (0.01) | - | | Net income (loss) | 283,410 | (837,125) | (134) | (757,848) | (1,531,126) | (51) | | Per share – basic | 0.01 | (0.02) | (150) | (0.02) | (0.04) | (50) | | Per share – diluted | 0.01 | (0.02) | (150) | (0.02) | (0.04) | (50) | | Working capital debt(1) | 1,478,730 | 858,406 | 72 | 1,478,730 | 858,406 | 72 | | Capital expenditures | 157,050 | 168,700 | (7) | 205,060 | 691,151 | (70) | | Weighted average shares outstanding | | | | | | | | Basic | 44,614,100 | 42,392,912 | 5 | 44,614,100 | 40,640,466 | 10 | | Diluted | 44,614,100 | 42,392,912 | 5 | 44,614,100 | 40,640,466 | 10 | | Share Trading | | | | | | | | High | $0.14 | $0.14 | - | $0.14 | $0.16 | (13) | | Low | $0.06 | $0.06 | - | $0.06 | $0.06 | - | | Trading volume | 4,122,241 | 1,775,477 | 132 | 8,697,435 | 3,582,419 | 143 | | Average daily production | | | | | | | | Oil (bbls/d) | 70 | 71 | (1) | 80 | 83 | (4) | | NGL (bbls/d) | 1 | 1 | - | 2 | 1 | 100 | | Natural Gas (mcf/d) | 554 | 27 | 1952 | 562 | 41 | 1271 | | Total (boe/d) | 163 | 76 | 114 | 175 | 92 | 90 | | Average realized sale prices, before financial instruments | | | | | | | | Oil ($/bbls) | 66.50 | 77.67 | (14) | 75.95 | 86.52 | (12) | | Natural gas liquids ($/bbls) | 49.54 | (136.04) | (136) | 29.77 | 2.82 | 956 | | Natural Gas ($/mcf) | 2.03 | 2.09 | (3) | 1.58 | 3.62 | (56) | | Operating netback, after derivatives ($/boe) | 2.78 | (2.93) | (121) | 4.96 | 10.67 | (42) | | Adjusted funds flow ($/boe) | (9.79) | (38.71) | (75) | (6.65) | (11.85) | (44) |

1.

Capital Management Measure; See “Non-IFRS Financial Measures, Non-IFRS Financial Ratios and Capital Management Measures” Section of this MDA.

2.

Non-IFRS Financial Ratio; See “Non-IFRS Financial Measures, Non-IFRS Financial Ratios and Capital Management Measures” Section of this MDA.

2025 Corporate Reserve Highlights (2)

| RESERVE HIGHLIGHTS | December 31, 2025 | December 31, 2024 | % change | % Change Per Share (Basic) (1) | % Change Per Share (Fully diluted) (1) | | Reserve Volume (MBOE) (2) | | | | | | | Proved developed producing (“PDP”) | 393.2 | 304.9 | 29% | 28% | 23% | | Total Proved (“TP”) | 774.4 | 655.0 | 18% | 17% | 13% | | Total proved plus probable (“TPP”) | 1,104.5 | 966.7 | 14% | 13% | 9% | | NPV of Reserves, discounted at 10% before-tax ($MM) | | | | | | | Proved developed producing | 0.888 | 2,285 | (61%) | | | | Total Proved | 4,084 | 4,987 | (18%) | | | | Total proved plus probable | 7,812 | 8,639 | (10%) | | |

1.

(1)As at December 31, 2024, the Company had 44,614,100 basic shares outstanding and 51,159,600 fully diluted.

2.

(2)Oil equivalent amounts have been calculated using a conversion ratio of six thousand cubic feet of natural gas to one barrel of oil.SeeCautionary Statements – Barrels of oil equivalent” below.

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The Company delivered positive reserve volume growth across all categories in 2025. As of December 31, 2025, PDP reserves of 393.2 MBOE, an increase of 29%, net of annual 2025 production of 63 MBOE, TP reserves of 774.4 MBOE, an increase of 18% and TPP reserves of 1,104.5 MBOE, an increase of 14%.

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The Company experienced positive reserve volumes increases at Hays and Murray Lake properties targeting the Mannville formation, due in part to its ongoing waterflood efforts, which increase future recoveries, lowered future decline rates, lowered operating costs, minimize capital spending, all of which improved the economic life of the assets. At Murray Lake, reserve volume declined slightly from 61.7Mboe to 61.5Mboe a 1% change, net of producing 14.6 Mboe during 2025. Murray Lake continues to see positive reserve and financial results from its ongoing waterflood, water injection and reservoir pressure support, which reflects the early stage of development characteristics of this waterflood, program. At Hays property, reserve volume remained flat 42.6 Mboe, net of producing 7.1 Mboe during 2025. These positive results were offset by technical revisions at its Swan Hills Unit and Vulcan, paired with lower WTI AECO commodity prices which negatively impacted net present values.

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The Company experienced positive reserve volumes increases at its gas property at Patricia property, which includes the Dinosaur Unit and the Patricia Units due in part to ongoing efforts to reducing operating costs which improved the economic life of its low decline production profile. At Patricia/Dinosaur property, reserve volume increased from 71.1Mboe to 145.4Mboe a 104 % increase, net of producing 19.6 Mboe during 2025. The Company completed a schedule overhaul on its power equipment in 2025, which should reduce future operating costs, extended the useful life of several wells in the area while improving associated future cashflows.

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The net present value (“NPV”) of reserves discounted at 10% before tax, declined on a PDP basis TP and TPP basis. The decline on a PDP was due entirely to lower commodity prices, higher fixed costs and lower annual production volumes.

The Company’s reserve volumes and undiscounted future development costs (“FDC”) as of December 31, 2025, are summarized below:

| RESERVE VOLUMES (1)(2)(3)(4)(5) | Crude Oil (MMbls) | NGL(2) (Mbbls) | Natural Gas (MMcf) | Combined (MBOE | FDC Costs ($MM) | | Proved developed producing | 122.6 | 1.6 | 1,614.1 | 393.2 | - | | Proved developed non-producing | 39.7 | 0.9 | 2,043.8 | 381.2 | | | Proved undeveloped | - | - | - | - | - | | Total Proved | 162.2 | 2.5 | 3,658.0 | 1,155.7 | | | Probable | 174 | 0.9 | 931.5 | 1,930.1 | | | Total Proved plus Probable | 336.2 | 3.4 | 4,589.5 | 3,085.8 | |

1.

Reserves are presented on a “company gross” basis, which is defined as Decimus working interest (operating and non-operating) share before deduction of royalties and without including any royalty interest of the Company.

2.

Based on the Trimble Engineering Associates Ltd. December 31, 2025, forecast prices and costs. Trimble’s commodity price forecasts as of December 31, 2025, which were used in the Trimble Report, can be found athttps://trimbleenergygroup.com/commodity-price-forecast/

3.

Including both non-associated gas and associated gas but excluding solution gas (gas dissolved in crude oil).

4.

Oil equivalent amounts have been calculated using a conversion ratio of six thousand cubic feet of natural gas to one barrel of oil.See Cautionary Statements – Barrels of oil equivalent” below.

5.

Columns may not add due to rounding of individual items.

The following table summarizes the NPV of the Company’s reserves (before-tax) as at December 31, 2025. The reserves value on a $/BOE basis, discounted at 10% per year, is also summarized for each category.

| NET PRESENT VALUE

BEFORE-TAX (1)(2)(3)(4)(5) | 0% ($MM) | 5%

($MM) | 10% ($MM) | 15%

($MM) | 20%

($MM) | Unit Value (1) Before Tax Discounted at 10%/Year ($/BOE) | | Proved developed producing | -1,159.9 | 292.0 | 887.9 | 1,130.9 | 1,218.5 | | | Proved developed non-producing | 5,218.4 | 4,042.8 | 3,196.0 | 2,588.6 | 2,144.3 | | | Proved undeveloped | - | - | - | - | - | - | | Total Proved | 4,058.5 | 4,334.8 | 4,084.0 | 3,719.5 | 3,362.8 | | | Probable | 6,717.7 | 4,985.8 | 3,728.2 | 2,859.1 | 2,247.0 | | | Total Proved plus Probable | 10,776.2 | 9,320.6 | 7,812.2 | 6,578.6 | 5,609.8 | |

1.

Based on the Trimble Engineering Associates Ltd. December 31, 2025, forecast prices and costs. Trimble’s commodity price forecasts as of December 31, 2025, which were used in the Trimble Report, can be found athttps://trimbleenergygroup.com/commodity-price-forecast/

2.

Estimated future net revenues are stated without any provision for interest costs, other debt service charges or general and administrative expenses, and after deduction of royalties, estimated operating costs, estimated abandonment and reclamation costs, and estimated future development costs.

3.

Estimated future net revenue, whether discounted or not, does not represent fair market value.

4.

Net present values of future net revenue after income taxes are estimated to approximate the before income tax values based on the estimated future revenues, available tax pools and future deductible expenses.

5.

Columns may not add due to rounding of individual items.

| FUTURE DEVELOPMENT CAPITAL (1)(2) | TP Reserves ($MM) | TPP Reserves ($MM) | | 2026 | 379.45 | 1,939.45 | | 2027 | 77.47 | 77.47 | | 2028 | 89.21 | 89.21 | | 2029 | 0 | 0 | | Thereafter | 0 | 0 | | Total FDC, undiscounted | 546.13 | 2,106.13 | | Total FDC, discounted at 10% | 494.36 | 1,968.66 |

1.

Columns may not add due to rounding.

2.

Company Gross Reserves exclude royalty volumes

The Company’s operations have been, and in the future may be, affected by political developments and by national, federal, provincial, stated and local laws and regulations such as restrictions on production, the imposition of tariffs, embargoes or export restrictions on the Company’s products, including the tariffs on a variety of goods announced by the US government on March 4, 2025, and Canadian countermeasures subsequently announced, both of which are anticipated to evolve.

An updated corporate presentation can be found atwww.decimusoil.com

For further information please contact:

Decimus Oil Corp.

Cameron MacDonald, President & CEO Phone: (403) 585-9875 Email: cmacdonald@decimusoil.com

www.decimusoil.com

About Decimus Oil Corp.

Decimus Oil Corp. is engaged in the acquisition, development and production of oil and gas in the Western Canadian Sedimentary Basin. The Company is focused on Mannville development in Southern Alberta where it’s advancing its low-risk acquisition strategy, paired with deploying modern completion techniques to expose its underexploited drilling opportunities to unlock significant resource in place.

Forward-looking Information and Statements

The information in this news release contains certain forward-looking statements. These statements relate to future events or our future performance. All statements other than statements of historical fact may be forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as "seek", "anticipate", "plan", "continue", "estimate", "approximate", "expect", "may", "will", "project", "predict", "potential", "targeting", "intend", "could", "might", "should", "believe", "would" and similar expressions. These statements involve substantial known and unknown risks and uncertainties, certain of which are beyond the Company's control, including: the impact of the COVID-19 pandemic on the Company's business and operations (and the duration of the impacts thereof). the inability of the Company to meet its commitments on its lands or on the lands it may acquire, the impact of general economic conditions; industry conditions; changes in laws and regulations including the adoption of new environmental laws and regulations and changes in how they are interpreted and enforced; fluctuations in commodity prices and foreign exchange and interest rates; stock market volatility and market valuations; volatility in market prices for oil and natural gas; liabilities inherent in oil and natural gas operations; uncertainties associated with estimating oil and natural gas reserves, changes in income tax laws or changes in tax laws and incentive programs relating to the oil and gas industry; geological, technical, drilling and processing problems and other difficulties in producing petroleum reserves; and obtaining required approvals of regulatory authorities. The Company's actual results, performance or achievement could differ materially from those expressed in, or implied by, such forward-looking statements and, accordingly, no assurances can be given that any of the events anticipated by the forward-looking statements will transpire or occur or, if any of them do, what benefits the Company will derive from them. These statements are subject to certain risks and uncertainties and may be based on assumptions that could cause actual results to differ materially from those anticipated or implied in the forward-looking statements. The forward-looking statements in this news release are expressly qualified in their entirety by this cautionary statement. Except as required by law, the Company undertakes no obligation to publicly update or revise any forward-looking statements. Investors are encouraged to review and consider the additional risk factors set forth in the Company's continuous disclosure documents which are available on SEDAR at www.sedar.com.

READER ADVISORIES

Non-GAAP Measures and Ratios

This press release contains certain financial measures and ratios which do not have standardized meanings prescribed by International Financial Reporting Standards ("IFRS Accounting Standards") or Generally Accepted Accounting Principles ("GAAP"). As these non-GAAP financial measures and ratios are commonly used in the oil and gas industry, Decimus believes that their inclusion is useful to investors. The reader is cautioned that these amounts may not be directly comparable to measures for other companies where similar terminology is used.

The non-GAAP measures and ratios used in this press release, represented by the capitalized and defined terms outlined below, are used by Decimus as key measures of financial performance, and are not intended to represent operating profits nor should they be viewed as an alternative to cash provided by operating activities, net income or other measures of financial performance calculated in accordance with IFRS Accounting Standards.

The definitions below should be read in conjunction with the "Non-GAAP Measures and Ratios" section of the Company's most recent MD&A, which includes discussion of the purpose and composition of the specified financial measures and detailed reconciliations to the most directly comparable GAAP financial measures.

Operating Income and Operating Netback

Operating Income, a non-GAAP financial measure, is a useful supplemental measure that provides an indication of the Company's ability to generate cash from field operations, prior to administrative overhead, financing, and other business expenses. "Operating Income, before hedging" is calculated by Decimus as oil and gas sales, net of royalties, plus processing and other revenue and net commodities purchased margin, less operating and transportation expenses. "Operating Income, after hedging" is calculated by adjusting Operating Income for realized gains or losses on derivative financial instruments. The Company refers to Operating Income expressed per unit of production as an "Operating Netback" and reports the Operating Netback before and after hedging, both of which are non-GAAP financial ratios. Decimus considers Operating Netback an important measure to evaluate its operational performance as it demonstrates its field level profitability relative to current commodity prices.