McCoy-1 Production Testing Results

• McCoy-1 production testing completed on schedule and below budget
• Estimated gas flow rate of approximately 0.1 Mscf/d with 2.8% helium concentration
• Low gas saturation; second zone test postponed
• HyTerra to integrate test results and determine next steps

HyTerra Ltd has concluded the production testing of the McCoy-1 well in the Ridge Play of the Nemaha Project in Kansas. The 14-day test of the first zone was completed on schedule and below budget, with no health, safety, or environmental incidents. The test recorded an estimated gas flow rate of approximately 0.1 million standard cubic feet per day (Mscf/d) and an elevated helium concentration of 2.8% on an air-corrected basis. Preliminary interpretation indicates that the tested interval had low gas saturation, and as a result, the proposed second zone test will not proceed at this stage. HyTerra will integrate the test results and determine the appropriate next steps for McCoy-1 and the broader Ridge Play.

HyTerra will now integrate and interpret the gas composition, pressure, flowrate and reservoir data from McCoy-1; assess the potential for further appraisal activities and determine appropriate next steps for McCoy-1 and across the broader Ridge Play; and continue the ranking and maturation of other portfolio opportunities, including the Rift Play.