Lotus Creek Exploration Inc.（简称“Lotus Creek”或“公司”）欣然发布以下第四季度运营和财务业绩，以及公司储量年终独立评估摘要。Lotus Creek截至2025年12月31日止年度的经审计合并财务报表及相关管理层讨论与分析（简称“D&A”）可在Lotus Creek网站www.lotuscreek.ca和Lotus Creek SEDAR+档案www.sedarplus.ca上查阅。

致股东信

尊敬的各位股东：

回顾2025年并迈入2026年第二季度之际，我很高兴地向大家汇报莲花溪油田（Lotus Creek）的转型之年。我们的团队执行了一项重点明确的战略，巩固了我们的资产基础，加速了产量增长，并展现了我们投资组合中蕴含的强大经济效益，同时始终致力于保持稳健的资产负债表。

公司简介

莲花溪油田是一家以增长为导向的轻质油公司，秉承两大创始原则：

钻探高利润油井，以及
保持稳健的资产负债表。

我们的商业模式简单明了：实现每股收益的显著增长，并在财务报表中清晰透明地展现出来。我们以严谨的作风、精湛的技术以及长期的所有权理念开展运营。

2025年：构建可扩展增长的基础

持续整合土地

年内，我们继续整合盆地内最高回报油气产区的土地。扩大的土地覆盖范围增强了我们的开发储备，并在规模化发展过程中提高了资本效率。

现代化三维地震勘探计划

我们开展了一项新的44平方英里三维地震勘探计划，确认了丰富的钻井位置。这些数据显著降低了我们在Belly River叠层油气开发项目中的风险，并为未来多年的可重复开发提供了技术保障。

战略基础设施投资

我们建造了一座日处理能力5,000桶油当量（boe/day）的可扩展型油气处理厂，建立了关键基础设施，为未来的产量增长奠定了基础。这项积极主动的投资增强了运营控制力，降低了未来的并网成本，并使公司能够实现可扩展的开发。

执行Belly River项目

2025年，我们在Wilson Creek钻探了Belly River项目的前四口井，成功测试了Belly River六个富含轻质油的砂层中的三个，这些砂层密集地堆叠在我们下方。三维地震勘探成果。

强劲的运营和财务业绩。

四口井的勘探计划超出预期：

2025年第四季度平均日产量为3,391桶油当量，高于2025年第三季度的1,425桶油当量。
尽管WTI原油价格环比下跌超过5美元/桶，但调整后的运营资金仍从第三季度的190万美元增至790万美元。第四季度经营活动产生的现金流量为550万美元，而第三季度为670万美元。

截至 2026 年 2 月底，这四口井共生产了约

20 万桶轻质原油、
55 万千立方英尺天然气和
7 万桶凝析油
。在 1550 万美元的钻井和完井资本计划中，四口井中有三口已经实现了盈利，这证明了我们库存的强大经济效益和可重复性。

重点井：104/06-26-042-05W5

值得一提的是，104/06-26-042-05W5井于2025年11月18日投产，在投产后的前100天内取得了卓越的成果，产量约为：

55,000桶轻质原油、
57,000千立方英尺天然气和
8,000桶凝析液。

通过优化措施，该井的产量持续提升，预计：

2026年1月平均日产量约为585桶油当量，其中92%为液体（约500桶轻质原油、250千立方英尺天然气和40桶凝析液）；2026年2月平均日产量约为1,200桶油当量，其中88%为液体（约850桶轻质原油和850千立方英尺天然气）。天然气和每天 200 桶天然气凝液）

这一业绩凸显了油藏的优良品质以及我们运营和技术团队的实力。2026

年计划及加速发展势头

去年 12 月，我们公布了一项基于西德克萨斯轻质原油 (WTI) 价格为每桶 57 美元的稳健的 2026 年资本计划，其中包括一项后半期加权的六口井钻探计划，其中两口井计划于 2026 年第一季度钻探。1

月和 2 月油价走强使我们能够扩大对冲头寸，锁定 2025 年钻探计划的收益，并降低现金流对商品价格波动的风险敞口。前两口井的高效执行使得第一季度的钻井活动从两口井增加到三口井。

由于钻井活动的加速，我们将 2026 年的年度产量预期从每日 3,400-3,800 桶油当量 (boe) 上调至每日 3,600-4,000 桶油当量 (boe)。

我们未来的承诺

我们将继续积极应对并把握机遇，以应对内外部各种因素。随着第二季度的推进，我们将密切关注2026年目标的进展情况，并随着计划的调整及时向股东通报最新动态。我们致力于保持透明度，并将在2026年全年持续提供月度运营和财务更新，确保股东能够清晰地了解我们的业绩。

致谢：

我谨向Lotus Creek全体团队成员表示祝贺和感谢，感谢他们在2025年及2026年初所付出的卓越努力。所取得的成果体现了严谨的执行、精湛的技术以及对提升股东价值的坚定承诺。

结语：

2025年的四井计划为Lotus Creek的股东释放了巨大的价值。它不仅展现了令人瞩目的单井经济效益，也证明了我们储量的可重复性和可扩展性。

我们正在打造一家旨在长远发展的公司：以资本纪律、卓越运营和对每股价值创造的不懈追求为基础。

感谢您一直以来的信任和支持。

此致，
凯文·约翰逊， 莲花溪勘探公司
总裁兼首席执行官。 年度亮点： 2025年平均日产量为2,064桶油当量，其中包括1,242桶原油、342桶凝析液和2,879千立方英尺天然气。 产量受第四季度日产量3,391桶油当量的影响。






2025 年调整后运营资金（调整后 FFO）为 1350 万美元（每桶油当量 19.87 美元），其中包括 2025 年第四季度调整后 FFO 790 万美元（每桶油当量 25.39 美元）。2025 年经营活动现金流为 1280 万美元（每桶油当量 18.81 美元），其中包括 2025 年第四季度经营活动现金流 550 万美元（每桶油当量 17.71 美元）。请参阅本新闻稿中的“按美国通用会计准则 (GAAP) 计算的财务指标及其他财务指标”。Lotus
Creek 共投资 4310 万美元，其中包括在 Wilson Creek 成功开展的钻井活动、在阿尔伯塔省中部开展的 44 平方英里三维地震勘探项目，以及在 Wilson Creek 建设一座日处理能力约为 5000 桶油当量的新卫星设施和油田。这项基础性的关键资本投资将使公司能够在2026年之前持续创造价值。
截至2025年12月31日，公司保持了良好的财务平衡，净债务为980万美元，净债务与季度年化运营资金之比为0.3倍。
公司在商业运营的第一年实现了180万美元的净利润（每股基本及摊薄收益0.05美元）。

季度亮点：

2025年第四季度平均日产量为3,391桶油当量，其中包括2,055桶原油、634桶凝析油和4,213千立方英尺天然气。
2025年第四季度，公司在威尔逊溪钻探并完工了2口（净2口）轻质油井。从2025年12月1日至2026年2月28日，这些油井的日均产量合计超过1250桶油当量（其中84%为轻质原油和凝析油）。其中一口油井于2月份进行了优化，2月份的日均产量约为1200桶油当量，其中包括约850桶原油。
2025年第四季度的调整后FFO为790万美元（每桶油当量25.39美元），而2025年第三季度为190万美元（每桶油当量14.85美元），增幅达307%。2025年第四季度的经营活动现金流为550万美元（每桶油当量17.71美元），而2025年第三季度为670万美元（每桶油当量50.82美元）。
Lotus Creek在第四季度共投资1120万美元，其中包括750万美元用于威尔逊溪油田的成功钻探和完井作业，260万美元用于包括新建卫星设施在内的配套设施建设，以及70万美元用于结算退役负债。
第四季度，公司修订了与ATB Financial的信贷协议，将借款基数从3500万美元增加到4000万美元。公司预计其信贷额度将使其拥有充足的流动资金。

运营更新：

2026年2月，Lotus Creek成功完成了其在威尔逊溪油田的2026年第一季度贝利河钻井计划。公司钻探了3口总产量（净产量2.9口）的贝利河轻质油井。公司预计威尔逊溪油田的这3口总产量（净产量2.9口）贝利河轻质油井将于3月份开始投产。由于大宗商品价格走强以及公司能够充分利用运营协同效应，公司加快了2026年的钻井计划，并在2026年第一季度在威尔逊溪钻探了一口总产量为1.0吨（净产量为0.9吨）的井，该井原计划于2026年下半年钻探。

2026年业绩展望：

2025年12月，莲花溪公司公布了已获批准的2026年预算。由于大宗商品价格走强以及公司能够充分利用运营协同效应，公司加快了2026年的钻井计划，并在2月份钻探了一口总产量为1.0吨（净产量为0.9吨）的井，该井原计划于2026年下半年钻探。截至目前，公司在2026年第一季度共钻探了3.0口总产量为2.9口（净产量为2.9吨）的井。由于上述原因，公司上调了2026年年度产量预期。加速资本部署，以及2025年威尔逊溪油井相对于预期产量曲线的持续优异表现。2026年全年预算推进了一项稳健且盈利的每股增长战略，同时在低油价环境下保持财务韧性。公司计划将资本投入威尔逊溪最具价值的项目，确保每一美元的投资都能带来切实的价值创造。该战略还将进一步发挥2025年关键基础投资的优势，包括三维地震勘探项目和2025年建成的威尔逊溪新油田。

2025年末储量亮点

公司欣然在下方提供截至 2025 年 12 月 31 日的首份年度石油和天然气储量评估的概述摘要和部分亮点。2025 年底的储量由独立储量评估机构 Sproule International Limited（Sproule International Limited）根据《加拿大石油和天然气评估手册》（OGE Handbook）和《国家石油和天然气活动披露标准 51-101》（National Instrument 51-101）中所载的定义、标准和程序进行评估。由公司董事会独立成员组成的储量委员会审查了独立储量评估师的资格和任命，并审查了向评估师提供信息的程序。储量评估基于Sproule ERCE、GLJ Petroleum Consultants Ltd.和McDaniel & Associates Consulting Ltd.编制的截至2026年1月1日的价格预测平均值。除非另有说明，本文所列储量均以公司总额（扣除特许权使用费前的作业权益，不包括任何特许权使用费权益）列示。根据NI 51-101要求提供的其他储量信息将包含在Lotus Creek年度信息表中，该表将于2026年3月31日或之前通过SEDAR+提交。

公司已探明、已开发、生产（DP）储量为470万桶油当量（Mboe），总探明储量为470万桶油当量。截至2025年12月31日，探明储量（P）为720万桶油当量（Mboe），探明加概算储量（PP）为1120万桶油当量（Mboe）。
按10%的折现率计算，PDP、TP和TPP的税前净现值（NPV）分别为约9280万美元、1.195亿美元和1.87亿美元。
按10%的折现率计算，PDP、TP和TPP的税后净现值（NPV）分别为约8470万美元、1.037亿美元和1.544亿美元。
公司储量报告包括TP的未来发展资本（DC）4120万美元和TP的未来发展资本7060万美元。 TPP。PDP
、TP 和 TPP 的储备寿命指数（锟絉LI锟�）分别为 3.2 年、4.9 年和 7.4 年。
利用评估师 2026 年 1 月 1 日的平均价格预测以及未开发土地价值和净债务准备金，PDP、TP 和 TPP 的净资产值（锟絅AV锟�）如下表所示，分别为每股 2.26 美元、每股 2.93 美元和每股 4.61 美元。

Lotus Creek Exploration Inc. (锟絃otus Creek锟� or the 锟紺ompany锟�) is pleased to provide the following fourth quarter operating and financial results and a summary of the year-end independent evaluation of the Company锟絪 reserves. Lotus Creek锟絪 Audited Consolidated Financial Statements and related Management锟絪 Discussion and Analysis (锟組D&A锟�) for the year ended December 31, 2025 are available for review on Lotus Creek锟絪 website at www.lotuscreek.ca and on Lotus Creek锟絪 SEDAR+ profile at www.sedarplus.ca.

MESSAGE TO SHAREHOLDERS

Dear Shareholders,

As we reflect on 2025 and enter the second quarter of 2026, I am pleased to report on a transformational year for Lotus Creek. Our team executed on a focused strategy, strengthened our asset base, accelerated production growth, and demonstrated the powerful economics embedded within our portfolio, all while maintaining our commitment to balance sheet strength.

Who We Are

Lotus Creek is a growth-oriented light oil company built on two founding principles:

Drill highly profitable wells, and
Maintain a strong balance sheet.

Our business model is straightforward: deliver highly profitable growth per share that is transparent and visible in our financial statements. We operate with discipline, technical rigor, and a long-term ownership mindset.

2025: Building the Foundation for Scalable Growth

Continued Land Consolidation

During the year, we continued consolidating lands across one of the basin锟絪 highest-return plays. This expanded footprint strengthens our development runway and enhances capital efficiency as we scale.

Modern 3D Seismic Program

We shot a new 44 square mile 3D seismic program, confirming a deep inventory of drilling locations. The data materially de-risked our stacked Belly River opportunity and provides technical confidence for years of repeatable development.

Strategic Infrastructure Investment

We constructed a 5,000?boe per day battery with an expandable design, establishing critical infrastructure that forms the backbone of future production growth. This proactive investment increases operational control, lowers future tie-in costs, and positions the Company for scalable development.

Executing the Belly River Program

In 2025, we drilled our first four Belly River wells in Wilson Creek, successfully testing three of the six light-oil-charged Belly River sands that are densely stacked beneath our 3D seismic footprint.

Strong Operational and Financial Results

The four-well program exceeded expectations:

Fourth quarter 2025 production averaged 3,391 boe per day, up from 1,425 boe per day in the third quarter of 2025.
Adjusted funds from operations expanded to $7.9 million, up from $1.9 million in the third quarter, despite WTI oil prices declining more than US$5 per bbl quarter over quarter. Cash flow from operating activities was $5.5 million in the fourth quarter compared to $6.7 million in the third quarter.

As of the end of February 2026, the four wells have collectively produced approximately:

200,000 bbls of light oil
550,000 mcf of natural gas
70,000 bbls of NGLs
Within the $15.5 million drilling and completion capital program, three of the four wells have already achieved payout, demonstrating the powerful economics and repeatability of our inventory.

Spotlight Well: 104/06-26-042-05W5

Of particular note, the 104/06-26-042-05W5 well, which was brought on production November 18, 2025, has delivered exceptional results in the first 100 days producing approximately:

55,000 bbls of light oil
57,000 mcf of gas
8,000 bbls of NGLs

The well has continued to improve through optimization efforts achieving:

January 2026 average production: approximately 585 boe per day, 92% liquids (approximately 500 bbls per day light oil, 250 mcf per day gas and 40 bbls per day NGLs) February 2026 average production: approximately 1,200 boe per day, 88% liquids (approximately 850 bbls per day light oil, 850 mcf per day gas and 200 bbls per day NGLs)

This performance highlights the quality of the reservoir and the strength of our operational and technical teams.

2026 Program and Accelerated Momentum

In December, we announced a disciplined 2026 capital plan based on US$57 per bbl WTI, featuring a back-half-weighted six-well program with two wells scheduled for the first quarter of 2026.

Stronger oil prices in January and February allowed us to expand our hedge position, locking in returns from the 2025 drilling program and reducing cash flow exposure to commodity volatility. Efficient execution on the first two wells supported increasing first quarter activity from two wells to three.

As a result of this accelerated activity, we have increased 2026 annual production guidance from 3,400-3,800 boe per day to 3,600-4,000 boe per day.

Our Commitment Going Forward

We will continue to be responsive and opportunistic in navigating both internal and external factors. As we move through the second quarter, we will closely monitor progress toward our 2026 objectives and keep shareholders informed as plans evolve. We are committed to transparency and will continue providing monthly operational and financial updates throughout 2026, ensuring shareholders can clearly track our performance.

Acknowledgment

I would like to congratulate and thank the entire Lotus Creek team for their extraordinary efforts throughout 2025 and into early 2026. The results achieved reflect disciplined execution, technical excellence, and a commitment to driving shareholder value.

Closing Thoughts

The 2025 four-well program has unlocked significant value for Lotus Creek shareholders. It demonstrates not only compelling single-well economics, but also the repeatability and scalability of our inventory.

We are building a company designed to endure: grounded in capital discipline, operational excellence, and a relentless focus on per-share value creation.

Thank you for your continued trust and support.

Sincerely,
Kevin Johnson
President & CEO
Lotus Creek Exploration Inc.

ANNUAL HIGHLIGHTS

Delivered average production of 2,064 boe per day for 2025 comprised of 1,242 bbls per day of crude oil, 342 bbls per day of NGLs and 2,879 mcf per day of natural gas.
Production was backend weighted with fourth quarter production of 3,391 boe per day.
Adjusted funds from operations (锟絘djusted FFO锟�) for 2025 were $13.5 million ($19.87 per boe), inclusive of adjusted FFO for the fourth quarter of 2025 of $7.9 million ($25.39 per boe). Cash flow from operating activities for 2025 was $12.8 million ($18.81 per boe), inclusive of cash flow from operating activities for the fourth quarter of 2025 of $5.5 million ($17.71 per boe). See 锟絅on-GAAP and Other Financial Measures锟� in this press release.
Lotus Creek invested a total of $43.1 million of capital which included the successful drilling activity in Wilson Creek, a 44 square mile 3D seismic program in Central Alberta and the construction of a new satellite facility and oil battery with an approximate capacity of 5,000 boe per day in Wilson Creek. This foundational key investment in capital will allow the Company to drive ongoing value creation into 2026.
Maintained a strong balance with exit net debt as at December 31, 2025 of $9.8 million and a net debt to quarterly annualized funds from operations of 0.3 times.
The Company generated net income of $1.8 million ($0.05 per basic and diluted share) in its first year of commercial operations.

QUARTERLY HIGHLIGHTS

Average production for the fourth quarter of 2025 was 3,391 boe per day comprised of 2,055 bbls per day of crude oil, 634 bbls per day of NGLs and 4,213 mcf per day of natural gas.
During the fourth quarter of 2025, the Company drilled and completed 2.0 gross (2.0 net) light oil Belly River wells in Wilson Creek. From December 1, 2025 to February 28, 2026, combined, the wells have averaged over 1,250 boe per day of estimated production (comprised of 84 per cent light oil and NGLs). One of those wells was optimized in February and averaged approximately 1,200 boe per day of estimated production in February, inclusive of approximately 850 bbls per day of crude oil.
Adjusted FFO for the fourth quarter of 2025 were $7.9 million ($25.39 per boe) as compared to $1.9 million ($14.85 per boe) for the third quarter of 2025, a 307 per cent increase. Cash flow from operating activities for the fourth quarter of 2025 was $5.5 million ($17.71 per boe) as compared to $6.7 million ($50.82 per boe) for the third quarter of 2025.
Lotus Creek invested a total of $11.2 million of capital during the fourth quarter, which included $7.5 million for successful drilling and completion activity in Wilson Creek, $2.6 million for facilities inclusive of the construction of the new satellite facility and $0.7 million to settle decommissioning liabilities.
During the fourth quarter, the Company amended its credit facilities with ATB Financial with an increase in the borrowing base from $35.0 million to $40.0 million. The Company is expected to have ample liquidity through its credit facilities.

OPERATIONAL UPDATE

In February 2026, Lotus Creek successfully completed its first quarter 2026 Belly River drilling program in Wilson Creek. The Company drilled 3.0 gross (2.9 net) light oil Belly River wells. The Company anticipates production from the 3.0 gross (2.9 net) light oil Belly River wells in Wilson Creek will commence in the month of March. As a result of stronger commodity prices and the Company锟絪 ability to take advantage of operational synergies, the Company accelerated the 2026 drilling program and drilled 1.0 gross (0.9 net) well in the first quarter of 2026, that was originally budgeted to be drilled in the second half of 2026 in Wilson Creek.

2026 GUIDANCE

In December 2025, Lotus Creek announced the approved 2026 budget. As a result of stronger commodity prices and the Company锟絪 ability to take advantage of operational synergies, the Company accelerated the 2026 drilling program and drilled 1.0 gross (0.9 net) well in February that was originally budgeted to be drilled in the second half of 2026. In total, the Company has drilled 3.0 gross (2.9 net) wells in the first quarter of 2026. The Company has revised its 2026 annual production guidance upward due to accelerated capital deployment and continued outperformance of the 2025 Wilson Creek wells relative to the expected production type curve. The full-year 2026 budget advances a strategy of disciplined, profitable per-share growth while maintaining financial resilience in a lower oil price environment. The Company intends to direct capital to its highest-value projects at Wilson Creek, ensuring every dollar deployed drives meaningful value creation. This strategy also further leverages the benefit of key foundational investments in 2025, including the 3D seismic program and the new Wilson Creek oil battery constructed in 2025.

2025 YEAR END RESERVES HIGHLIGHTS

The Company is pleased to provide below both an overview summary and select highlights of its first year-end oil and gas reserves evaluation as at December 31, 2025. The year-end 2025 reserves were evaluated by independent reserves evaluator Sproule International Limited (锟絊proule ERCE锟�) in accordance with the definitions, standards and procedures contained in the Canadian Oil and Gas Evaluation Handbook (锟紺OGE Handbook锟�) and National Instrument 51-101 Standards of Disclosure for Oil and Gas Activities (锟絅I 51-101锟�). A reserves committee, comprised of independent members of the Company锟絪 Board of Directors, reviewed the qualifications and appointment of the independent reserves evaluator and reviewed the procedures for providing information to the evaluators. The reserves evaluation was based on an average of price forecasts prepared by Sproule ERCE, GLJ Petroleum Consultants Ltd. and McDaniel & Associates Consulting Ltd. effective at January 1, 2026. Reserves included herein are stated on a company gross basis (working interest before deduction of royalties without inclusion of any royalty interests) unless noted otherwise. Additional reserves information required under NI 51-101 will be included in Lotus Creek锟絪 Annual Information Form to be filed on SEDAR+ on or before March 31, 2026.

The Company锟絪 proved developed producing (锟絇DP锟�) reserves are 4.7 Mboe, total proved (锟絋P锟�) reserves are 7.2 Mboe, and total proved plus probable (锟絋PP锟�) reserves are 11.2 Mboe as at December 31, 2025.
The before-tax net present value (锟絅PV锟�) of reserves, discounted at 10%, was approximately $92.8 million for PDP, $119.5 million for TP, and $187.0 million for TPP.
The after-tax NPV of reserves, discounted at 10%, was approximately $84.7 million for PDP, $103.7 million for TP, and $154.4 million for TPP.
The Company锟絪 reserve report includes Future Development Capital (锟紽DC锟�) of $41.2 million for TP and $70.6 million for TPP.
The reserve life index (锟絉LI锟�) for PDP, TP, and TPP, is 3.2, 4.9, and 7.4 years, respectively.
Utilizing the evaluator average price forecast at January 1, 2026 and provisions for undeveloped land value and net debt, net asset values (锟絅AV锟�) for PDP, TP, and TPP, as set forth in the table below, are $2.26 per share, $2.93 per share and $4.61 per share, respectively.