Wedgemount Announces Post Financing Updated Production Enhancement Program
Executive Summary
The initial phase of the enhancement program focuses on workovers of the McBeth and Rhone injection wells, which will restore regular production to 22 wells in the Crews and Talpa operating areas. These wells include the Davis #1 and #2 wells, which have been the company's most consistent producers since their 2023 acquisition. The company plans to follow this with upgrades to gas compression facilities at the 62-well Echo field, which has operated with limited production since its late 2024 acquisition due to capital constraints.
The production enhancement strategy extends to the Novice operating area, where 41 producing vertical wells and nine injectors will undergo reactivation and improvement work during late spring and summer 2026. All wells across the portfolio remain candidates for optimization through specialty chemical treatments, indicating substantial near-term production upside potential.
Looking beyond immediate optimization efforts, Wedgemount has identified over 300 potential drilling locations based on allowable 40-acre well spacing across its lease holdings. This extensive drilling inventory represents significant long-term growth potential and positions the company to capitalize on improved market conditions and continued operational success. The combination of immediate production enhancement opportunities and substantial future development potential demonstrates the strategic value of Wedgemount's Permian Basin position and the company's systematic approach to value creation.
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Press Release
Wedgemount Announces Post Financing Updated Production Enhancement Program
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR RELEASE, PUBLICATION, DISTRIBUTION, DISSEMINATION, DIRECTLY OR INDIRECTLY IN OR INTO THE UNITED STATES
Vancouver, BC – April 17, 2026 – Wedgemount Resources Corp. (CSE: WDGY) (“Wedgemount” or the “Company”), is pleased to provide details of the Company’s newly launched production enhancement program post the closing of its recently announced oversubscribed financing. Wedgemount’s Permian Basin oil and gas leases currently include 131 vertical production wells and 14 injectors over 22,000 acres in Runnels and Coleman counties, Texas.
Reactivation Strategy
Wedgemount will initially undertake workovers on its McBeth and Rhone injection wells. Together the two injection wells provide water disposal for 22 wells in the Crews and Talpa operating areas which the Company anticipates having back on regular production once the workovers are completed. The 22 wells include both the Davis #1 and #2 wells which have been Wedgemount’s best and most consistent producers since acquired in 2023. All wells remain strong candidates for further optimization through the use of specialty chemical treatments.
Following the reactivation of Crews and Talpa to regular production the Company will commence upgrades on gas compression facilities on the sixty-two well Echo field which has had limited production since acquired in late 2024 due to lack of access to capital. None of the Echo wells have been optimized to date thus the Company is optimistic about the potential upside in both productivity and reserve recovery.
Additional upside potential exists in the Company’s Novice operating area where well reactivations and injector improvements will take place over the late spring and summer 2026. Novice includes 41 producing vertical wells and nine injectors.
Future Development
Following optimization of the Company’s existing vertical production wells, significant growth potential remains across the balance of Wedgemount’s leases, with an estimated inventory of over 300 drilling locations based on allowable 40-acre well spacing
About Wedgemount Resources Corp.
Wedgemount Resources is a junior natural resource company focused on maximizing shareholder value through the acquisition, development and exploitation of energy projects in the southern, USA.
On behalf of the Board of Directors,
WEDGEMOUNT RESOURCES CORP.
Mark Vanry, President and CEO
For more information, please contact the Company at:
Telephone: (604) 343-4743
Reader Advisory
This news release may contain statements which constitute “forward-looking information”, including statements regarding the plans, intentions, beliefs and current expectations of the Company, its directors, or its officers with respect to the future business activities of the Company. The words “may”, “would”, “could”, “will”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect” and similar expressions, as they relate to the Company, or its management, are intended to identify such forward-looking statements. Forward looking statements made in this news release includes, Once optimized with chemical treatments, additional workovers and improved surface facilities, total production could be higher, 2026 capital program delivering high-return, quick-payout development, efforts to obtain additional funding and projected use of proceeds, Capital investments improving water handling and surface facilities which may allow higher production rates on a sustained basis, focus on low-cost well optimizations of current inventory of producing wells to both boost production and add additional reserves. Investors are cautioned that any such forward-looking statements are not guarantees of future business activities and involve risks and uncertainties, and that the Company’s future business activities may differ materially from those in the forward-looking statements as a result of various factors, including, but not limited to, availability of funds, personnel and other resources necessary to conduct exploration or development programs, successes of the Company’s exploration efforts, availability of capital and financing and general economic, market or business conditions. There can be no assurances that such information will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. The Company does not assume any obligation to update any forward-looking information except as required under the applicable securities laws.
Neither the Canadian Securities Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.
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