Tuktu Resources Ltd (TUK) Q4 2025 earnings summary

Executive summary

• 2025 production averaged 563 boe/d, up 11% year-over-year, with 47% crude oil and 53% natural gas.

• Southern Alberta oil assets contributed 264 bbl/d, including 154 bbl/d from a new Upper Banff Formation well.

• Q4 2025 production declined 26% year-over-year to 477 boe/d due to natural declines and shut-ins from low gas prices.

• The 4-20-010-24W4 Upper Banff well continues to produce ~30 bbl/d, totaling over 113,000 bbl since inception.

Financial highlights

• 2025 petroleum and natural gas sales rose 48% year-over-year to $9.0 million; Q4 sales fell 34% to $1.6 million.

• Adjusted funds flow from operations was ($289) thousand in Q4 2025, down 203% year-over-year.

• Net loss for 2025 was $4.95 million, with a Q4 net loss of $1.02 million.

• 2025 capital expenditures totaled $6.9 million, mainly for drilling and land expansion.

• Adjusted working capital dropped from $8.8 million to $0.85 million due to capital spending.

Outlook and guidance

• Ongoing geological analysis and 3D seismic acquisition aim to de-risk and optimize drilling in Monarch.

• Evaluating divestment of non-core assets and potential acquisitions to complement Monarch.

• 2026 drilling program and further optimization of existing wells planned.