Decimus Oil Corp.

A few thoughts with oil down 11% on the SoH being "opened" (until April 22nd): 🛢️voyage time for tankers out is ~25 days to Asia and 25 days back = ~ 2 months of continued production loss = ~600MM Bbls = still heading to lowest inventory levels in history 🛢️IEA yesterday saying will take ~ 2 years to fully normalize production 🛢️80 facilities have been damaged, 1/3 "severely or very severely" which will take quarters/years to fix 🛢️political risk premium of $10+/bbl likely and the floor price for oil is now higher given inventory reset 🛢️SPR restocking will = ~0.3MM Bbl/d of new demand for the next 4 years 🛢️oil equities were on average discounting $70WTI. Won't matter at the open but will again soon.

Oil & gas stocks move with commodities, but over the long run, multiples tell the real story. Valuations tend to expand when investors rethink growth potential, often tied to confidence in undrilled inventory. As such, the best new wells each month offer clues - where new plays are emerging, where drilling and completion designs are evolving, and which formations could attract new investor attention. One well doesn’t make a play, but it can be the opening to a much larger story. 5 themes stood out this month: Alberta Montney (Horseshoe Geometry): New to Canada, a recent Montney well highlights the use of horseshoe‑style design, with a ~3.0 km lateral drilled through a continuous turn. With a 25‑stage plug‑and‑perf, the well showed no apparent friction loss despite added curvature, with the well reaching ~14 mmcf/d peak rate and producing ~1.1 Bcf in 90 days. While in line with offsets, the horseshoe design shows how one well may replace two conventional wells, but also importantly, how quickly Canada may be adopting U.S. style designs. Liard Basin (Besa River / Horn River): With volatility returning to global gas markets - particularly Europe’s TTF natural gas hub - Canada’s LNG potential is back in focus. While the Montney dominates near‑term supply, the Liard Basin represents longer‑dated optionality. No wells have been drilled since 2016, yet historical results remain notable: a recent well produced ~29 Bcf over 3 years (peak 55 mmcf/d), while another produced ~14 Bcf in ~20 months. Clearwater (Single‑Leg Injector, Nipisi): Two core themes are emerging in Canada: multi‑laterals and waterflooding - and the Clearwater has both. The go‑forward standard waterflood design increasingly uses multi‑lateral producers with single‑leg injectors for improved sweep and pressure support. One of the earliest wells developed this way has produced now 412 Mbbls since Sep 2022 and been effectively flat for ~13 months at ~475 bbl/d. With a ~4× payout in ~3 years, the economics are compelling and appear scalable. Charlie Lake (Waterflood Pilot): The top Charlie Lake well recently utilized a multi‑lateral design spanning ~25 km of reservoir contact, reaching 1,559 bbls/d, but upside doesn’t stop there. The first waterflood‑supported Charlie Lake well, on stream since August 2021, has now produced ~204 Mbbls and stabilized near ~60 bbl/d. Nearby offset wells of similar vintage are closer to ~25 bbl/d after 50 months, implying ~2.5× higher late‑life productivity. Pekisko Multi‑Lateral (Haro): The first multi‑lateral Pekisko well came on in February 2026, and while cleanup still masks rates, an offset unstimulated single‑lateral well previously peaked at ~60 bbl/d. Combined with one of the largest Crown land sales YTD in the Peace River area, in what appears Pekisko rights, it’s a play worth tracking for investors. Source: GeoLOGIC Solutions Ltd, BMO Capital Markets Energy Research #geology #oilgas

@tsxir @ShaleTier7 Pretty impressive Mannville BQ wells at Wintering Hills & GEM pools and many others in the area. Single well econs: Capex ~$3.4mm DCE&T, IP30 ~450 bbls and EURs ~285Mboe…those economic go around at US$70

@ShaleTier7 Thoughts on SE Alberta - specifically Basal Quartz / Lower Mannville plays.

“I started trading oil this week, and it’s been a very steep learning curve.” ~ Taylor Swift

Wow

@JoshYoung 🍒

PUSHPAK made it!

The PUSHPAK went for it through the Strait

@RazorOil US Bbl. US Bbl. US Bbl. CND bbl Apr-Sept $70.85/($12.50)/$58.35/$79.85 Apr-Dec $69.30/($13.15)/$56.15/$76.84. Risk mitigation - you never go broke taking a profit.

Thank you @JeremyMcCrea_CA

What drives share prices? In Oil & Gas, multiples expand when investor perception changes regarding growth, which for E&Ps, is reflected in a company's undrilled inventory value. As such, the best new wells each month offer clues - where new plays are emerging, where drilling and completion designs are evolving, and ultimately, which plays could capture new investor attention. One well doesn’t make the play, but it can be the opening to a much bigger story. This month, 5 trends stood out: Charlie Lake Multi-Lateral: Multi-lateral development is gaining traction into deeper and more difficult to drill formations (like the Charlie Lake) - and results have been impressive. Another standout Cecil-area Charlie Lake well hit 1,554 bbls/d (across six legs). With no completion costs, more operators could adopt this approach. Alberta Montney Kakwa: Average AB Montney wells typically come on-stream at ~700 bbls/d. So when a well tests at 2,109 bbls/d, we take notice. This two-mile Montney well in the southernmost portion of Kakwa ('Nest 2') came from a five-well pad with a standard completion design - meaning geology likely drove results. Typically, wells fade as operators move away from the reservoir core, but for this well adjacent to Township 61, there appears to be plenty more runway to the south. BC Montney (Attachie/Inga): The B.C. Montney can be difficult to develop, especially with complexities related graben structures, pressure leak-offs and faulting. That said, we continue to see strong rates at Inga (~18 miles away north of Attachie) where an operator tested a well at 1,296 bbls/d of condensate (48h). TOUR report shows 57 successful fracs stages with 12 mT of proppant at 13.6 m3/min. Overall, a good test and another good bookend. We'll note an offsetting well in Nov 2024 with similar IP rates has now produced 336 mbbls. Grand Rapids (Figure Lake): The Grand Rapids came on the screen of investors earlier this year in the Marten Hills Clearwater area of Alberta, and that exploration looks to have expanded into other areas of Alberta. At Figure Lake, the latest Grand Rapids well produced at an encouraging rate of at least 200 bbls/d (days confidential). Bottom line: For investors concerned with inventory, we continue to see new layers open up for operators with Mannville rights, and with 9 geological formations identified within the Mannville, operators may have more inventory than what is presented. Belly River (Willesden Green): The Belly River doesn't make headlines. It's typically a side mention in large company news releases but time after time, we can't help but notice a pattern of success. So when another well comes on at 893 bbls/d in January (for ~$4.5 mln well cost), and one of the highest rates we've seen in the formation, the play may start to get more headlines after all. Source: BMO Capital Markets Energy Research, GeoLOGIC Solutions Ltd. #oilgas #geology

$WCSB after careful consideration Decimus has chosen to terminate its previously announced Bantry Acquisition and the accompanying offering. thenewswire.com/preview?id=1AJ…

We are stronger when we work together — It’s time to champion our natural economic advantages to create a more secure future!

@OilsandsAction @goldyhyder x.com/joshyoung/stat…

Canada needs to get out of its own way 'Critically important for Canada to chart a bold and ambitious plan for our economic security and sovereignty' - ⁦@goldyhyder⁩ financialpost.com/news/economy/g…

21x increase in rig utilization is staggering statistic. OFS & Producers needs these type of technological advancements to remain competitive and profitable given the higher operating cost structure. As a producer I’m becoming increasingly concerned that while technological improvement are yielding higher well IP rates, the EUR are staying fairly flat, resulting in the steepening of the global decline curve. If global demand continues along its trajectory, we’re going to need to drill a lot more wells to replace depletion.

“…When we started in this - we had 2000 rigs running in this country..." “…Over 1000 rigs drilling for gas - now that's closer to 120..." "...We had 2000 rigs running and we were producing - maybe 1/3 of the energy we're producing today as a country…” "...Now we're at record amounts of oil and gas production - and we're doing all that with 600 rigs..." "...In this industry what we've shown since 2010 till today - is a 21-fold increase in the productivity per rig..."

@ericnuttall Amen! Well said @ericnuttall 👏

Highlights from my testimony to the House of Commons’ Standing Committee on Natural Resources - opening statement

CDN E&P - Mannville Stack HMLs - Activity Robust Even Amid Lower Prices - Cover Page "The development of horizontal multi-lateral ("HML") drilling continues to revitalize portions of the WCSB, with activity levels remaining robust even in the face of lower crude prices"

Oil, adjusted for inflation, is at historic lows. Just to return to the mean, oil prices would need to reach $94. I wouldn’t be surprised if this cycle produces a new all time high

@Kevin_AGraham @garquake 👍

@garquake Might be taking part in a non-brokered private placement at Petrus to fund an acquisition👇 static1.squarespace.com/static/6178553…

Na - just going to Super bowl box seats / private jet with @Kevin_AGraham

The oil supply-demand model is broken: - Conventional discoveries are down 60% since 2010 - Down ~90% since 1960 - 80% of producing fields are past their peak In other words, we are squeezing more and more out of existing fields. At the same time, global decline rates are surging: - Decline rates have doubled since 2000 - A total of ~6 mbpd That is the equivalent of losing the entire output of the 4th-largest oil producer every year. At some point, we will not have enough oil to meet future demand without new fields.

$WCSB today highlights one of its core properties in Southern Alberta. Our Murray Lake property is 100%WI Mannville pool, which exhibits a very low-decline (<8%) paired with long-life reserves. Since acquiring the property in Jan 2022, Decimus has invested in upgrading pumping equipment, pipelines while optimizing the location of its injector wells to further support its ongoing Enhanced Oil Recovery (EOR) program. During the fall of 2024, Decimus converted an inactive well into a new injection well (5-36 hztl) and associated infrastructure to maximize recovery on the eastside of the oil pool. These targeted efforts will increase in Recovery Factor (RF), further reducing operating costs by ~20%, while holding oil prod'n 45-50 bbl/d range. Decimus has achieving payout in less than <3 years, despite much lower realized WTI & WCS prices since closing the acquisition - reinforcing the quality of our asset base while driving shareholder value.

@RazorOil @ysteve747 “Say hello to the Bad Guy."

Me with my oil friends seeing oil at $65 knowing the market expected it to be at $45…😳🪒