Lycos Energy (LCX) investor relations material

Corporate overview and financials

• Focuses on exploration, development, and production using advanced drilling and reservoir exploitation methods to maximize oil recovery.

• Reported production between 1,300–1,800 bbl/d from Oct 2025 to Feb 2026, with a market capitalization of $197.6 million as of March 2026.

• Holds 5,449 mboe in proved reserves valued at $89 million (NPV10), with a $50 million credit facility and no net debt at Q4 2025.

• Estimated tax pools of $106 million at year-end 2025, with additional $23 million pending from a transaction.

• Headquarters in Calgary, with operations centered in Alberta and Saskatchewan.

Strategic growth and operational focus

• Pursues organic growth through novel development techniques and enhanced recovery programs to reduce declines and unlock value.

• M&A strategy targets underexploited assets with large oil in place, aiming to strengthen long-term production and inventory.

• Prudent capital management with a focus on balance sheet strength and strategic use of equity and cash for transactions.

• Identifies and evaluates new core areas for expansion, leveraging technical expertise.

Asset base and drilling inventory

• Holds a substantial Mannville heavy oil drilling inventory, with over 20 years of drilling potential using multi-lateral and HVSM well designs.

• Targets the Mannville Stack, with 791 net drilling locations across up to 10 reservoirs, currently drilling 6.

• Over 1.3 million meters of OHML drilled since 2022, supporting a large contiguous land base and ambitious M&A plans.

• PIIP (petroleum initially in place) exceeds 1.7 billion barrels, with significant recoverable oil potential across multiple horizons.