WESTGATE ENERGY INC. PROVIDES OPERATIONAL UPDATE

WESTGATE ENERGY INC. PROVIDES OPERATIONAL UPDATE

CALGARY, AB, Sept. 17, 2025 /CNW/ - Westgate Energy Inc. ("Westgate" or the "Company") (TSXV: WGT), is pleased to provide an update on the previously announced three well program on its Beaverdam Assets.

Operational Update

Westgate is pleased to report that the three new wells drilled on the Company's Beaverdam Asset in Northeast Alberta on the Elizabeth Metis Settlement (the "New Wells") are currently producing at rates that have significantly exceeded management's budgeted expectations to date. As previously reported, the Company drilled three horizontal wells on its Beaverdam asset lands acquired in September 2024. These horizontal wells targeted three distinct Mannville Stack horizons within the Beaverdam lands.

The New Wells were drilled in June and July 2025 and were brought on production on August 15, 2025. The Company's internal forecast had a peak production rate for each horizontal well of approximately 110 bbl/d. Westgate is pleased to report that 30 days after the on-stream date, all New Wells are producing above the Company's internally forecasted production rates. The average aggregate total production of the New Wells over the last seven days is approximately 468 bbl/d. Management's expectation is that current rates are representative of stabilized rates.

Current corporate production for Westgate is 740 boe/d with the combined current volumes from its southern assets at Killam/Richdale and northern assets at Beaverdam.

The New Wells drilled in Westgate's summer program, across three different Mannville stacked zones has increased Westgate's confidence on its current unbooked drilling locations at Beaverdam. In addition to this, the stratigraphic test that was drilled as part of the summer drill program has shown potential in other Mannville Stack zones that are currently not considered in Westgate's inventory.

Company CEO Dan Brown states: "We are very happy with the initial results from the New Wells, as all three zones are producing extremely well. We are pleased to have significantly exceeded our internal forecasted rates on these wells, and we are evaluating how these successful results may affect our drilling location count. We are currently planning another drill program at Beaverdam later this year to continue to build on our recent success."

Westgate gratefully acknowledges the valued cooperation and partnership of the Elizabeth Metis Settlement in advancing our shared goals.

Westgate would also like to extend its sincere appreciation to the field operations team and the service providers whose dedication, expertise, and hard work contributed to the successful execution of the first pad at Beaverdam.

About Westgate

Westgate is focused on the emerging Mannville Stack fairway located in North-East Alberta and West Central Saskatchewan. This fairway is characterized by known accumulations of medium and heavy oil which are being 'unlocked' via the application of innovative drilling techniques that utilize various styles of horizontal drilling. Applying these horizontal drilling techniques has yielded some of the strongest oil well economics across Western Canada.

For more information, please visit www.westgateenergy.ca.

Reader Advisories

In this press release, all references to "$" are to Canadian dollars unless otherwise indicated.

Oil and Gas Advisories  

Barrels of Oil Equivalent
Boe may be misleading, particularly if used in isolation. In accordance with National Instrument 51- 101 - Standards of Disclosure for Oil and Gas Activities, a conversion ratio for conventional natural gas of 6 Mcf:1 bbl has been used, which is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead. In addition, utilizing a conversion on a 6 Mcf:1 bbl basis may be misleading as an indicator of value as the value ratio between conventional natural gas and heavy crude oil, based on the current prices of natural gas and crude oil, differ significantly from the energy equivalency of 6 Mcf:1 bbl.

Initial Production Rates
Initial production rates disclosed herein, particularly those short in duration, may not necessarily be indicative of long-term performance or of ultimate recovery. Readers are cautioned that short-term rates should not be relied upon as indicators of future performance of these wells and therefore should not be unduly relied upon for investment or other purposes. All initial production rates presented herein represent the results from wells after all "load" fluids (used in well completion) have been recovered. The Company cautions that the test results should be considered preliminary.

Drilling Inventory
Unbooked drilling locations in respect of Westgate's assets are the internal estimates of Westgate based on the assets' prospective acreage and an assumption as to the number of wells that can be drilled per section based on industry practice and internal review. Unbooked locations do not have attributed reserves or resources (including contingent and prospective). Unbooked locations have been identified by the Company's management as an estimation of the Company's multi-year drilling activities based on evaluation of applicable geologic, seismic, engineering, production and reserves information. There is no certainty that Westgate will drill all unbooked drilling locations and if drilled there is no certainty that such locations will result in additional oil and natural gas reserves, resources or production.

The drilling locations on which the Company will actually drill wells, including the number and timing thereof is ultimately dependent upon the availability of funding, regulatory approvals, seasonal restrictions, oil and natural gas prices, costs, actual drilling results, additional reservoir information that is obtained and other factors. While a certain number of the unbooked drilling locations have been de-risked by Westgate drilling existing wells in relative close proximity to such unbooked drilling locations, the majority of other unbooked drilling locations are farther away from existing wells where management of Westgate has less information about the characteristics of the reservoir and therefore there is more uncertainty whether wells will be drilled in such locations and if drilled there is more uncertainty that such wells will result in additional oil and gas reserves, resources or production.

Notice regarding forward-looking statements:

This press release includes forward-looking statements regarding Westgate and its business, which may include, but are not limited to: management's expectation that current production rates of the New Wells are representative of stabilized rates; management's view of its unbooked drilling locations in Beaverdam; potential additions to the Company's drilling inventory; the Company's plans for another drill program at Beaverdam;  and the characteristics of the Mannville Stack Fairway and the unique position of Westgate in respect thereof. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "is expected", "expects", "scheduled", "intends", "contemplates", "anticipates", "believes", "proposes" or variations (including negative variations) of such words and phrases, or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. The forward-looking statements included in this press release are based on management's current expectations and assumptions, including, but not limited to, the Company's ability to execute its business strategy and market conditions. Although the Company believes that the expectations and assumptions reflected in such forward-looking information are reasonable, they may prove to be incorrect. Forward-looking statements involve significant known and unknown risks and uncertainties. A number of factors could cause actual results to differ materially from those anticipated by the Company, including but not limited to:  ultimate production from wells being less than anticipated by initial production rates; decreases in the price of oil and natural gas and changes in market conditions. Moreover, exploration, appraisal, and development of oil and natural gas reserves are speculative activities and involve a degree of risk. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. No forward-looking statement can be guaranteed. Except as required by applicable securities laws, forward-looking statements speak only as of the date on which they are made and the Company undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise, other than as required by law.

Neither the TSXV nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release

SOURCE Westgate Energy Inc.