SPARTAN DELTA CORP. ANNOUNCES 2025 RESERVES

• Spartan’s proven industrialized making (“ PDP“) reserves increased by 9%, while overall proven (“ TP“) reserves increased by 19%, and overall proven plus possible (“ TPP“) reserves increased by 18% in 2025.
  • Business oil and condensate PDP reserves increased by 56%, TP reserves increased by 70%, and TPP reserves increased by 64% in 2025.
  • In the Duvernay, overall PDP reserves increased by 145%, TP reserves increased by 89%, and TPP reserves increased by 81% in 2025, showing the Business’s delineation success in the play. The TPP reserves represent just 14% of Spartan’s internally recognized place stock, supporting considerable future reserves development.
  • In the Deep Basin, although Simple performed just an upkeep capital program, it increased reserves throughout all reserve classifications, growing by 1-3%.
• Spartan’s production replacement for PDP, TP, and TPP is 149%, 302%, and 430%, respectively.
• Spartan’s reserve life index (“ RLI“) for PDP, TP, and TPP is 4.9, 10.8, and 18.1 years, respectively, highlighting considerable period of stock.
• The Business’s 2025 before-tax net present worth (“ NPV“) of reserves, marked down at 10 percent, increased by 22% in PDP, 11% in TP, and 15% in TPP, regardless of lower product rates.

The following tables highlight the findings of the McDaniel Report. The McDaniel Report was based upon the released average projection rates of McDaniel, GLJ Ltd., and Sproule Associates Limited. See “O&G Reader Advisories– Reserves Disclosure” to find out more. Extra reserves info as needed under NI 51-101 will be consisted of in Spartan’s Yearly Details Type for the year ended December 31, 2025, which will be submitted on or before March 31, 2026, on SEDAR+ at www.sedarplus.ca. The numbers in the tables listed below might not include due to rounding.

Spartan is dedicated to developing worth for its investors, concentrated on sustainability in both operations and monetary efficiency. The Business has actually developed a portfolio of top quality production and advancement chances in the Deep Basin and the Duvernay Spartan will continue to concentrate on the execution of the Business’s natural drilling program throughout its portfolio, providing functional synergies in a considerate and accountable way in relation to the environment and neighborhoods it runs in. The Business is well placed to continue growing and establishing its Duvernay possession; to continue the advancement of liquids-rich gas targets and produce totally free funds circulation in the Deep Basin; and take part in the combination of the Deep Basin fairway and the West Shale Duvernay.

The reserves info and information supplied in this news release provides just a part of the disclosure needed under NI 51-101. Spartan’s Type 51-101F1– Declaration of Reserves Information and Other Oil and Gas Details outdated reliable as at December 31, 2025, that includes more disclosure of Spartan’s oil and gas reserves and other oil and gas info in accordance with NI 51-101 and COGEH, forming the basis of this news release, will be consisted of in the Business’s Yearly Details Type for the year ended December 31, 2025, which will be readily available on or before March 31, 2026 on SEDAR+ at www.sedarplus.ca.

All reserves worths, future net profits and supplementary info consisted of in this news release are stemmed from the McDaniel Report unless otherwise kept in mind. All reserve referrals in this news release are “business gross reserves”. Business gross reserves are the Business’s overall working interest reserves before the reduction of any royalties payable by the Business. Quotes of reserves and future net profits for specific homes might not show the very same level of self-confidence as quotes of reserves and future net profits for all homes, due to the result of aggregation. There is no guarantee that the projection cost and expense presumptions used by McDaniel in assessing Spartan’s reserves will be achieved and differences might be product. All reserves designated in the McDaniel Report lie in the Province of Alberta and provided on a combined basis.

All assessments and summaries of future net profits are specified prior to the arrangement for interest, financial obligation service fee or basic and administrative costs and after reduction of royalties, running expenses, approximated well desertion and improvement expenses and approximated future capital investment. It needs to not be presumed that the quotes of future net incomes provided represent the reasonable market price of the reserves. The healing and reserve quotes of Spartan’s oil, NGLs and gas reserves supplied herein are quotes just and there is no assurance that the approximated reserves will be recuperated. Real oil, gas and NGL reserves might be higher than or less than the quotes supplied herein. There are various unpredictabilities fundamental in approximating amounts of petroleum, reserves and the future money streams credited to such reserves. The reserve and associated capital info stated herein are quotes just.

Shown reserves are those reserves that can be approximated with a high degree of certainty to be recoverable. It is most likely that the real staying amounts recuperated will go beyond the approximated proven reserves. Probable reserves are those extra reserves that are less specific to be recuperated than proven reserves. It is similarly most likely that the real staying amounts recuperated will be higher or less than the amount of the approximated showed plus possible reserves. Shown industrialized producing reserves are those reserves that are anticipated to be recuperated from conclusion periods open at the time of the quote. These reserves might be presently producing or, if shut-in, they need to have formerly been on production, and the date of resumption of production need to be understood with sensible certainty. Undeveloped reserves are those reserves anticipated to be recuperated from understood build-ups where a substantial expense (e.g., when compared to the expense of drilling a well) is needed to render them efficient in production. They need to totally satisfy the requirements of the reserves classification (shown, possible, possible) to which they are designated. Specific terms utilized in this news release however not specified are specified in NI 51-101, CSA Personnel Notification 51-324– Modified Glossary to NI 51-101 (“ CSA Personnel Notification 51-324“) and/or the COGEH and, unless the context otherwise needs, will have the very same significances herein as in NI 51-101, CSA Personnel Notification 51-324 and the COGEH, as the case might be.

This news release includes metrics typically utilized in the oil and gas market which have actually been prepared by management, such as “RLI” and “reserve replacement”. These terms do not have a standardized significance and might not be equivalent to comparable steps provided by other business and for that reason ought to not be utilized to make such contrasts. Management utilizes these oil and gas metrics for its own efficiency measurements and to supply investors with steps to compare the Business’s operations gradually. Readers are warned that the info supplied by these metrics, or that can be stemmed from the metrics provided in this news release, ought to not be trusted for financial investment or other functions.

This news release includes different referrals to the abbreviation “ BOE” which indicates barrels of oil equivalent. Where quantities are revealed on a BOE basis, gas volumes have actually been transformed to oil equivalence at 6 thousand cubic feet (mcf) per barrel (bbl). The term BOE might be deceptive, especially if utilized in seclusion. A BOE conversion ratio of 6 thousand cubic feet per barrel is based upon an energy equivalency conversion technique mostly suitable at the burner idea and does not represent a worth equivalency at the wellhead and is considerably various than the worth ratio based upon the present cost of petroleum and gas. This conversion element is a market accepted standard and is not based upon either energy material or present rates.

Specific declarations consisted of within this news release make up positive declarations within the significance of suitable Canadian securities legislation. All declarations aside from declarations of historic reality might be positive declarations. Positive declarations are typically, however not constantly, recognized by the usage of words such as “expect”, “strategy”, “venture”, “continue”, “quote”, “examine”, “anticipate”, “projection”, “screen”, “might”, “will”, “can”, “able”, “prospective”, “target”, “mean”, “think about”, “focus”, “determine”, “usage”, “use”, “handle”, “preserve”, “stay”, “result”, “cultivate”, “might”, “ought to”, “think” and comparable expressions (or grammatical variations or negatives thereof). Simple thinks that the expectations shown in such positive declarations are sensible since the date hereof, however no guarantee can be considered that such expectations will show to be right and such positive declarations ought to not be unduly trusted. Without constraint, this news release includes positive declarations relating to the continued: execution of the Business’s natural drilling program throughout its portfolio, pursuit of optimization in the Deep Basin, involvement in the combination of the Deep Basin fairway, and development and advancement of its Duvernay possession. Declarations connecting to reserves, RLI, healing, expenses and assessment are likewise considered to be forward looking declarations, as they include the indicated evaluation, based upon specific quotes and presumptions, that the reserves explained exist in the amounts anticipated which the reserves can be beneficially produced in the future.

The positive declarations and info are based upon specific essential expectations and presumptions made by Spartan, consisting of, however not restricted to, expectations and presumptions worrying business strategy of Spartan, the timing of and success of future drilling, advancement and conclusion activities, the development chances of Spartan’s Duvernay acreage, the efficiency of existing wells, the efficiency of brand-new wells, the schedule and efficiency of centers and pipelines, the geological qualities of Spartan’s homes, the effective application of drilling, conclusion and seismic innovation, the Business’s capability to protect enough quantities of water, dominating climate condition, dominating legislation impacting the oil and gas market, dominating product rates, cost volatility, future product rates, cost differentials and the real rates got for the Business’s items (consisting of pursuant to hedging plans), prepared for variations in forex and rate of interest, effect of inflation on expenses, royalty routines and currency exchange rate, the application of regulative and licensing requirements, the schedule of capital, labour and services, the credit reliability of market partners, basic financial conditions, and the capability to source and total acquisitions.

Although Simple thinks that the expectations and presumptions on which such positive declarations and info are based are sensible, unnecessary dependence needs to not be put on the positive declarations and info due to the fact that Spartan can offer no guarantee that they will show to be right. By its nature, such positive info goes through different threats and unpredictabilities, which might trigger the real outcomes and expectations to vary materially from the prepared for outcomes or expectations revealed. These threats and unpredictabilities consist of, however are not restricted to, variations and volatility in product rates; modifications in market guidelines and legislation (consisting of, however not restricted to, tax laws, royalties, and ecological guidelines); the danger that the U.S. administration (i) preserves tariffs on Canadian products, consisting of petroleum and gas, (ii) increases the rate or scope of formerly revealed tariffs, or (iii) enforces brand-new tariffs on the import of products from Canada; the danger that the U.S. and/or Canada enforces any other kind of tax, limitation or restriction on the import or export of items from one nation to the other, consisting of petroleum and gas, which such tariffs or other steps (and/or the Canadian federal government’s action to such tariffs or other steps) negatively impact the Canadian, U.S., and worldwide economies, and by extension the Canadian oil and gas market and the Business; need and/or market value for the Business’s items and/or otherwise negatively impacts the Business; modifications in the political landscape both locally and abroad (consisting of geopolitical advancements in Venezuela), wars (consisting of continuous military actions in the Middle East and in between Russia and Ukraine), hostilities, civil insurrections, forex or rate of interest, increased operating and capital expenses due to inflationary pressures (real and awaited), threats related to the oil and gas market in basic, stock exchange and monetary system volatility, effects of pandemics, the retention of essential management and staff members, threats with regard to unexpected third-party pipeline interruptions and threats connecting to inclement and extreme weather condition occasions and natural catastrophes, consisting of fire, dry spell, and flooding, consisting of in regard of security, possession stability and shutting-in production.

Please describe Spartan’s MD&A for the duration ended September 30, 2025, and yearly info kind for the year ended December 31, 2024, for conversation of extra danger elements connecting to the Business, which can be accessed either on Spartan’s site at www.spartandeltacorp.com or under Spartan’s SEDAR+ profile on www.sedarplus.ca. Readers are warned not to position unnecessary dependence on this positive info, which is provided since the date hereof, and to not utilize such positive info for anything aside from its desired function. Spartan carries out no responsibility to upgrade openly or modify any positive info, whether as an outcome of brand-new info, future occasions or otherwise, other than as needed by law. Any monetary outlook or future-oriented monetary info consisted of in this news release has actually been authorized by management since the date hereof, is offered the function of communicating the awaited results of the Business’s organized activities and techniques and might not be suitable for other functions.