News Releases

NG ENERGY ANNOUNCES FILING OF Q2 2026 FINANCIAL RESULTS

• Q2 production and financial highlights: Q2 2026 natural gas and NGL sales of US$10.8 million, a 14% increase over Q1 2026. YTD 2026 sales of US$20.3 million, a 24% increase year-over-year.
• Production growth since quarter-end: Combined current gross production across both blocks during the first week of August 2026 was 44.48 MMcf/d (24.21 MMcf/d net to NGE).
• Sinú-9 production approximately doubled since the quarter: Gross production at Sinú-9 stood at approximately 27.74 MMcf/d during the first week of August 2026 (10.81 MMcf/d net to NGE), approximately double the block’s Q2 2026 average and at the technical limit of existing export capacity.
• Four wells remaining in current Sinú-9 drill program: Two wells are scheduled for the balance of 2026, the first being Encantado, targeted on stream in November 2026.
• Export capacity at Sinú-9 set to increase to 40–45 MMcf/d: Commissioning of the first INFRAES pipeline loop to Jobo is underway and is expected to be completed within the coming weeks, increasing export capacity at Sinú-9 from 30 MMcf/d to 40–45 MMcf/d (15.6–17.6 MMcf/d net to NGE).
• Maria Conchita development advancing: Aruchara-5 was tied into the central processing facility during Q2 2026 and the Aruchara-1 workover was completed on July 15, 2026. Aruchara-6 was spudded on August 3, 2026 and is currently being drilled.
• Balance sheet transformation complete: The final US$15 million instalment from Maurel & Prom was received subsequent to quarter-end, completing collection of the full US$150 million consideration. The Company received a further ~US$20 million (~C$26 million) from July 2026 Warrant proceeds.
• Reduced cost of capital: Amendment No. 7 to the Macquarie credit agreement reduced the applicable margin rate from 8.5% to 7.5%, with further reductions available on achievement of production and reserves thresholds with US$23 million remaining.

CALGARY, AB, August 13, 2026 – 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 and six months ended June 30, 2026. The Company’s interim condensed consolidated financial statements and management’s discussion and analysis for the three and six months ended June 30, 2026, are available on the Company’s website (www.ngenergyintl.com) and profile on SEDAR+ (www.sedarplus.ca).

Q2 2026 Highlights

• Revenue: Q2 2026 natural gas and NGL sales of US$10.8 million, a 14% increase over Q1 2026 sales of US$9.5 million and an 8% increase over Q2 2025 sales of US$10.0 million. YTD 2026 natural gas and NGL sales of US$20.3 million versus US$16.4 million in YTD 2025, a 24% increase year-over-year.
• Pricing: Blended realized natural gas price of US$8.35/Mcf in Q2 2026 versus US$7.20/Mcf in Q2 2025, a 16% increase year-over-year, reflecting the Company’s contracted pricing in a structurally favourable Colombian natural gas pricing environment. Maria Conchita realized a natural gas price of US$9.20/Mcf under long-term offtake agreements, with new incremental volumes expected to be sold at ~US$11.50/Mcf in the Colombian spot market. Sinú-9 realized a natural gas price of US$7.02/Mcf under contracted offtake agreements up to 25 MMcf/d gross, with volumes above this threshold expected to be sold at ~US$13.00/Mcf into the Colombian spot market as production scales through the balance of the ongoing drilling campaign.
• Net Production: Combined average daily net production for sale of 14.222 Mcf/d in Q2 2026, a 15% increase over Q1 2026 net production for sale of 12.413 Mcf/d, comprising 8.654 Mcf/d net from Maria Conchita at the Company’s 80% working interest and 5.568 Mcf/d net from Sinú-9 at the Company’s 39% non-operating working interest.  During the first week of August 2026, gross production at Sinú-9 stood at approximately 27.74 MMcf/d (10.81  MMcf/d net to NGE), approximately double the block’s Q2 2026 average, and at the technical limit of existing export capacity, with four firm wells remaining to be drilled under the current six well drilling campaign. Following completion of the Aruchara-1 workover, gross production at Maria Conchita has increased to 16.7 MMcf/d (13.3 MMcf/d net to NGE). Combined current gross production across both blocks is 44.48 MMcf/d (24.21 MMcf/d net to NGE).
• Take-Away Capacity: Export capacity at Sinú-9 is currently 30 MMcf/d, representing net entitlement (39%) of 11.7 MMcf/d to the Company. Commissioning of the first 18-kilometre loop of the pipeline from the Jobo connection point, constructed by the Company’s infrastructure partner INFRAES, is underway and is expected to be completed within the coming weeks, which will increase export capacity at Sinú-9 to 40–45 MMcf/d and net entitlement (39%) to the Company to 15.6–17.6 MMcf/d. With gross production at Sinú-9 currently at the technical limit of existing export capacity, completion of the loop is expected to unlock capacity for the additional volumes targeted from the remaining wells in the drilling campaign. At Maria Conchita, the Company has 30 MMcf/d (24 MMcf/d net to NGE 80%) of infrastructure capacity in place.
• Capital Investment: Capital expenditures of US$18.1 million in Q2 2026 and US$24.7 million YTD 2026, directed principally to the Sinú-9 drilling campaign and to the Aruchara-5 well at Maria Conchita. The Company’s 2026 capital program is funded from cash on hand and proceeds received from the Company’s transaction with Etablissements Maurel & Prom S.A. (“Maurel & Prom”).
• Liquidity: Cash of US$33.2 million at June 30, 2026, compared to US$11.95 million at March 31, 2026, with US$15 million of consideration from the Company’s transaction with Maurel & Prom received subsequent to quarter-end, completing receipt of the full US$150 million consideration. The Company also received aggregate proceeds of C$26.5 million from the exercise of the July 2026 Warrants (as defined below), with ~C$21 million received subsequent to quarter-end.
• Debt: The outstanding principal on the Macquarie credit facility is US$23.0 million, with the next scheduled principal repayment of US$3.0 million due in December 2026 and the facility maturing in December 2028. The Company was in compliance with all financial covenants as at June 30, 2026.

Subsequent to Quarter-End

• The drilling campaign at Sinú-9 operated by Maurel & Prom is continuing and comprises six firm wells and two contingent wells, of which four firm wells remain to be drilled. Two are scheduled to be drilled during the balance of 2026, the first being Encantado, for which well pad construction has commenced and the drilling rig is being mobilised, targeted to come on stream in November 2026. Magico-2X, drilled between June 26, 2026 and the end of July 2026, encountered gas intervals within the target formation that did not exhibit sufficient thickness to support commercial production, and the well was plugged and abandoned on July 30, 2026. The data acquired will be incorporated into the geological characterisation of the licence to optimise the continuation of the drilling campaign.
• Aruchara-6, the Company’s next development well at Maria Conchita, was spudded on August 3, 2026 and is currently being drilled, targeting the Jimol formation (H1 and H2) with additional upside in the H3, H4 and H5 fractured zones, to a planned total depth of 9,124 feet. Completion is expected in September 2026.
• The Aruchara-1 workover and recompletion at Maria Conchita was completed on July 15, 2026, restoring well integrity, enabling the evaluation of new productive intervals and returning the well to production at increased rates.
• The Company received aggregate proceeds of C$26,509,500 from the exercise of 29,455,000 common share purchase warrants issued on July 31, 2023 (the “July 2026 Warrants”) at an exercise price of C$0.90 each, of which 23,266,000 warrants were exercised subsequent to June 30, 2026. All unexercised July 2026 Warrants expired on July 31, 2026 in accordance with their terms. As of the date of this news release, the Company has 296,334,964 common shares and 65,930,943 common share purchase warrants issued and outstanding.
• On July 29, 2026, the Company executed Amendment No. 7 to its credit and guarantee agreement with Macquarie, reducing the applicable margin rate from 8.5% to 7.5%, with further reductions to as low as 5.5% available upon achievement of specified natural gas production and proven reserves thresholds. The amendment also eliminated the Colombian trust structure, streamlined certain administrative requirements and reduced administrative fees, and permits the Company to enter into unsecured letters of credit with other banks and to undertake unsecured hedging.

Jorge Fonseca, Chief Executive Officer of NGE, commented: “Our second quarter results highlight the strength of our strategy and the momentum across both Maria Conchita and Sinú‑9. With Sinú‑9 production now at the technical limit of existing capacity and the INFRAES loop set to unlock additional volumes, we are entering a sustained growth phase supported by premium Colombian natural gas pricing. Production continues to build, pricing improved year‑over‑year at both assets, and our drilling programs at Sinú‑9 and Maria Conchita are advancing with discipline. Combined with a strengthened balance sheet, NGE is well‑positioned to continue its operating momentum and evaluate strategic opportunities that create long‑term value for shareholders.”

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, through its indirect subsidiary Operadora NG Energy International S.A., which has a registered branch in Colombia, Operadora NG Energy Sucursal Colombia, 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, through its indirect subsidiary Operadora NG Energy International S.A., which has a registered branch in Colombia, Operadora NG Energy Sucursal Colombia, 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 33% 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 and the future prices realized for sales of natural gas. 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
Q1	first quarter
Q2	second quarter
YTD	year to date

Information Regarding the Company’s Working Interest Disclosure

The Company’s contractual interests in the exploration and production contracts for the Sinú-9 Block and the Maria Conchita Block are maintained through its indirect wholly owned subsidiary Operadora NG Energy International, S.A. (formerly, MKMS Enerji Anonim Sirketi S.A.) (“Operadora NG Energy”) and Operadora NG Energy’s registered Colombian branch, Operadora NG Energy Sucursal Colombia (formerly, MKMS Enerji Sucursal Colombia) (“Operadora Colombia”). As a result of the foregoing, throughout this news release, references to “the Company” are understood to refer to NG Energy International Corp. and its direct and indirect wholly-owned subsidiaries as whole. The Company’s contractual participation in the Sinú-9 Block exploration and production contract is maintained through Operadora NG Energy, as part of the Sinú-9 Consortium, while the Company’s ownership and operation of the María Conchita Block exploration and production contract is maintained through Operadora Colombia. Therefore, NG Energy International Corp. is neither a contracting party nor the holder of the exploration and production contracts with the ANH.

In both 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 pursuant to joint operating agreements. Once such conditions are fulfilled, the acquisition of a registered contractual interest, as a party of record, in the exploration and production contract may be formalized through a request for approval of an assignment before the ANH.

The assignment and allocation of “working interests” does not affect or undermine, in any way, the rights and obligations of the registered parties under the relevant exploration and production contracts. The registered parties, such as Operadora NG Energy and Operadora Colombia, remain wholly and totally liable before the ANH, the Colombian authorities and third parties in connection with any and all obligations, risks and liabilities arising from the execution, performance or termination of the exploration and production contracts. Conversely, the rights and obligations that comprise “working interests” are enforceable only among the parties to the relevant private agreements, and have no legal effect before the ANH, the Colombian authorities or third parties.

With regard to the Sinú-9 Block, the Sinú 9 Consortium, consisting of Maurel & Prom Colombia Sociedad Limitada (Operator – 61%) and Operadora NG Energy (39%), are  party to the Sinú-9 Block exploration and production contract awarded by the ANH. With respect to the María Conchita Block, Operadora Colombia is the sole registered contracting party and holds a 100% contractual interest and the status of operator under the Maria Conchita Block exploration and production contract awarded by the ANH. The Company holds an 80% private economic interest in the Maria Conchita Block pursuant to private agreements with third parties, without such interest affecting the contractual ownership registered with the ANH.

For further information:

NG Energy International Corp.

Brian Paes-Braga, Executive Chairman

Jorge Fonseca, CEO

[email protected]