Petrus Resources Announces Third Quarter 2026 Financial and Operating Results

CALGARY, Alberta, Nov. 05, 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 nine months ended September 30, 2026.

Q3 2026 HIGHLIGHTS: * Record production and 36% year-to-date production growth – Average production in the third quarter of 2026 was 12,152 boe/d((1)), representing the highest quarterly average production in the Company's history. Production increased 24% from the third quarter of 2025 and 10% from the second quarter of 2026. September 2026 average production((2) )was 36% higher than January 2026 average production((3)), reflecting the addition of the Harmattan assets in February 2026 and the continued successful execution of the Company's 2026 capital program. * Operating netback((4)) up 96% – Operating netback increased 96% to $22.9 million ($20.52/boe) in the third quarter of 2026 from $11.7 million ($12.93/boe) in the prior year comparative period, primarily due to higher production volumes and stronger realized commodity prices. * Increased oil and condensate production – Oil and condensate((1)) production increased 32% to 2,007 bbl/d from 1,523 bbl/d in the third quarter of 2025. Total liquids (oil, condensate, and NGLs) represented 39% of production, compared to 35% in the third quarter of 2025. * Funds flow((4) )growth – Generated funds flow of $16.3 million in the third quarter of 2026, an increase of 26% from $12.9 million in the comparative period of 2025. Funds flow for the first nine months of 2026 was $45.9 million, an increase of 22% from $37.7 million in the comparative period of 2025. * Commodity prices – Total realized price increased 53% to $33.45/boe in the third quarter of 2026 from $21.90/boe in the prior year comparative period. Realized oil/condensate, NGL and natural gas prices increased 39%, 30% and 85%, respectively. * Capital activity – Capital expenditures were $18.1 million in the third quarter of 2026 and $51.4 million for the first nine months of 2026. Approximately 92% of third quarter capital was allocated to drilling, completions and tying in new wells. * Development activity – The Company spud 4 gross (2.0 net) wells in the third quarter of 2026 and 14 gross (11.2 net) wells in the first nine months of 2026. The Company successfully drilled and brought new wells on production in the Harmattan area, further advancing the development of the acquired properties. * Dividends – Paid regular monthly dividends of $0.01 per share, totaling $4.5 million during the third quarter of 2026. Shareholders reinvested $3.0 million under the Company's Dividend Reinvestment Plan resulting in the issuance of 1.7 million common shares, with the remaining $1.5 million paid in cash. OUTLOOK((5))