MCF Energy Ltd.（“MCF”、“MCF Energy”或“公司”）很高兴为公司项目提供持续运营更新。

捷克共和国
公司目前在捷克共和国拥有三张生产许可证，共 6880 英亩土地，其中有三口钻井，以及三张勘探特许权，共 42,551 英亩土地。公司目前正在努力恢复三口井中的两口井的生产：NP-823 井和 LM-3 井。必要的生产设备已转移到 NP-823 井上，目前正在等待检查后才能开始生产。预计 2 月份将开始首次生产。LM-3 井是一口发现井，由于缺乏管道连接而未生产。预计该井的天然气生产将于 4 月开始，届时将安装一台燃气发电机，为数据中心和比特币挖矿机供电。计划将多余的电力出售给当地电网。第三口井 NT-2 正在接受检查和维修，之后将恢复生产。

公司正在制定继续勘探三处勘探特许权的计划，一些尚未开发的已探明钻探地点已经确定。

德国

莱赫特许权：

Kinsau #1A 钻井场地的建设仍在继续，预计于 3 月初完工。天气条件减缓了进度，但完工仍比计划提前很多。

莱赫东特许权：

第一个莱赫东钻井场地已经选定，地面租赁谈判已完成并签订了合同。环境研究已经完成并提交给相关部门审批。下一阶段是开始规划和钻井场地建设计划。Reudnitz

气田：

第一阶段生产测试已经完成，建立了稳定的流量，每小时流量超过 100 万立方英尺。第二阶段将于 2 月开始，届时将增加刺激和生产设施以提高流量。Lime Petroleum 向公司支付了 500,000 欧元，以获得获得 Reudnitz 许可证 80% 的开采权，另外还承担了 5,500,000 欧元的支出以实现生产。

奥地利

Welchau-1
由 MCF（占 25% 的经济利益）和运营商 ADX Energy Ltd. 钻探的 Welchau-1 井继续受到监控，以评估压力建立率，以确定流入井中的流体性质，然后再决定是否对井进行刺激并继续测试操作。

奥地利法院的一项裁决废除了奥地利环境法的一项条款，运营商 ADX Energy Ltd. 及其奥地利律师正在与当地政府协商，评估该裁决对进一步测试作业的影响。在澄清和解决奥地利法院裁决的影响之前，进一步的测试可能会被暂停。法院没有就 Welchau-1 天然气勘探井或为钻探和测试颁发的自然保护许可证的有效性作出裁定。

MCF Energy Ltd. ("MCF", "MCF Energy" or the "Company") is pleased to provide an update the continuing operations update for the company projects.

Czech Republic
The Company currently holds 6880 acres in three production licences with three drilled wells and 42,551 acres in three exploration concessions in the Czech Republic. The company is currently working to return two of the three wells back to production: NP-823 and LM-3 wells. The necessary production equipment has been moved onto the NP-823 well and is currently waiting on inspection before starting production. First production is anticipated in February. The LM-3 well is a discovery well that has not been produced due to lack of pipeline hook up. Gas production from this well is anticipated to begin in April with the installation of a gas-powered generator to provide power to both data centres and bitcoin mining units. Excess power is planned to be sold into the local power grid. The third well, NT-2 is being inspected and repairs done before the well is returned to production.

Plans to continue exploration on the Company's three exploration concessions are being developed with some proven undeveloped locations already identified for drilling.

Germany

Lech Concession:

Construction of the Kinsau #1A drill site continues with completion estimated in early March. Weather conditions has slowed progress, but the completion is still well ahead of schedule.

Lech East Concession:

The first Lech East drill site has been selected and surface lease negotiated and contracted. Environmental studies have been completed and submitted to relevant authorities for approval. The next stage is to begin well planning and drill site construction plans.

Reudnitz Gas Field:

Phase 1 production testing is complete with an established stable flow rate of over 1MMCF per hours flow rates. Phase 2 will begin in February with additional stimulation and production facilities to improve flow rates. Lime Petroleum paid the Company EUR 500,000 for an option to farm for 80% of the Reudnitz licence for an additional EUR 5,500,000 of carried expenditure to achieve production.

Austria

Welchau-1
The Welchau-1 well drilled by MCF (as to a 25% economic interest) and the operator ADX Energy Ltd. continues to be monitored to evaluate the rate of pressure build up with a view to determining the nature of fluid flow into the well before a decision is taken whether to stimulate the well and continue testing operations.

A court decision in Austria has repealed an article of an Austrian environmental law, the effect of which is being evaluated by operator ADX Energy Ltd. and its Austrian counsel in consultation with local authorities to assess its impact on further testing operations. It is likely that further testing may be suspended pending clarification and resolution of the impact of the Austrian court decision. The court made no determination in relation to the Welchau-1 natural gas exploration well or the validity of nature conservation permits issued for drilling and testing.