Petrus Resources Announces Second Quarter 2026 Financial and Operating Results

CALGARY, Alberta, Aug. 06, 2026 (GLOBE NEWSWIRE) -- Petrus Resources Ltd. (“Petrus” or the “Company”) (TSX: PRQ) is pleased to report financial and operating results as at and for the three and six months ended June 30, 2026.

Q2 2026 HIGHLIGHTS: * Operating netback up 92%((2)) – Operating netback increased 92% to $24.9 million ($24.73/boe) in the second quarter of 2026 from $13.0 million ($15.58/boe) in the prior year comparative period, primarily due to higher oil production and stronger oil and NGL prices. * Funds flow((2)) – Generated funds flow of $16.3 million in the second quarter of 2026, an increase of 32% from $12.3 million in the prior year comparative period and 23% from $13.3 million in the first quarter of 2026. * Record Production in June – Average production in the second quarter of 2026 was 11,070 boe/d((1)), an increase of 21% from the prior year comparative period and 10% from the first quarter of 2026. Production was impacted by a planned third-party facility turnaround in Harmattan during April and May. Following completion of the turnaround, June production averaged approximately 12,000 boe/d((4)), representing the highest monthly production in Petrus’ history. * Increased Oil and Condensate Production – Oil and condensate((1)) production increased 61% to 1,998 bbl/d from 1,243 bbl/d in the second quarter of 2025. Total liquids (oil, condensate, and NGLs) for the quarter represented 39% of production, compared with 35% in the second quarter of 2025. * Commodity prices – The total realized price increased 46% to $37.66/boe in the second quarter of 2026 from $25.77/boe in the prior year comparative period. Realized oil/condensate and NGL prices increased 52% and 39%, respectively, partially offset by an 18% decrease in realized natural gas prices. * Capital activity – Capital expenditures were $11.7 million in the second quarter and $33.2 million for the first six months of 2026. Approximately 74% or $24.6 million was allocated to drilling, completions and tie-ins, and the Company spud 10 gross (9.13 net) wells. * Dividends – Paid regular monthly dividends of $0.01 per share, totaling $4.4 million during the second quarter of 2026. Shareholders reinvested $3.0 million under the Company's Dividend Reinvestment Plan resulting in the issue of 1.7 million common shares, with the remaining $1.4 million paid in cash. OUTLOOK((3))