Oregen Energy Corp. Files Financial Statements, Reports Significant Cost Reductions and Leadership Changes

Vancouver, British Columbia — September 4, 2026 — Leads & Copy — Oregen Energy Corp. has filed its unaudited condensed interim consolidated financial statements and accompanying Management’s Discussion and Analysis (MD&A) for the period ending June 30, 2026. Both documents are available on the SEDAR+ platform.

The company reported a significant reduction in operating expenses for the second quarter of 2026, decreasing by 85% to $163,607 from $1,102,151 in the same period of 2025. For the first six months of 2026, operating expenses fell 67% to $532,479 compared to $1,608,314 in the prior-year period. This cost rationalization was attributed to the internalization of corporate management functions and lower advisory transaction overhead following the acquisitions of NamLith and Oranam.

Oregen also saw a material decrease in its net loss. For the second quarter of 2026, the comprehensive net loss was reduced by 68% to $363,688, or $0.01 per share, compared to $1,141,804, or $0.04 per share, in the second quarter of 2025. Over the first six months of 2026, the net loss decreased by 49% to $833,835, down from $1,645,963 in the corresponding prior-year period.

In terms of leadership, the company bolstered its board with the appointments of David French and Michael Simpson, and added Phil Birch as senior strategic advisor. Kevin Shrimpton has assumed the role of Interim Chief Executive Officer, bringing over 30 years of upstream oil and gas experience.

Oregen maintains a 48.5% equity stake in WestOil Limited, which holds a 70% working interest, or 33.95% net to Oregen, in Block 2712A (PEL 107) in offshore Namibia’s Orange Basin. This area is located near major discoveries by international companies. Additionally, Oregen has entered into a non-binding Letter of Intent framework to evaluate a strategic investment in Petrovena Energy (Pty) Ltd., aiming to expand its Orange Basin portfolio.

Kevin Shrimpton, Interim CEO, stated that the company executed focused capital discipline while restructuring its administrative cost profile, leading to a leaner cost footprint. He emphasized the company's focus on the potential of its interests in Blocks 2712A and 2812Ab in Namibia's Orange Basin, a prospective offshore exploration area. Shrimpton highlighted a revitalized board, technical guidance, and continued corporate discipline as key to unlocking shareholder value.

Oregen Energy Corp. is a Canadian energy investment company focused on oil and gas exploration assets in Africa. Through its interest in WestOil Limited, Oregen holds a 33.95% net working interest in Block 2712A (PEL 107), covering 5,484 square kilometers in Namibia’s Orange Basin.

Source: Oregen Energy Corp.