Bengal Energy Ltd. Enters into Loan with Texada Capital Management Ltd. to Fund ERC Bonding Requirements

CALGARY, AB, April 6, 2026/ CNW/ – Bengal Energy Ltd. (TSX: BNG) (” Bengal” or the “Business”) reveals that it has actually participated in a promissory note with Texada Capital Management Ltd. (” Texada”), a business managed by W. B. (Costs) Wheeler, pursuant to which Texada has actually accepted advance Cdn$ 1,145,000 (the “Texada Loan”) to the Business. Mr. Wheeler is a director of Bengal and owns or manages (straight or indirectly) 398,679,364 typical shares of Bengal, being around 82.2% of the provided and impressive Typical Shares.

As formerly revealed by the Business, current modifications to the Queensland, Australia guidelines permit the operator of the Business’s Barta Joint Endeavor, that includes the producing Cuisinier possession, to share the operator’s Approximated Rehab Expense (” ERC”) bonding requirements (connected with Ecological Authorities for petroleum tenements in Queensland) with joint endeavor partners. The profits of the Texada Loan will be utilized to money the Business’s joint endeavor share of such ERC bonding requirements. The Business anticipates to look for to raise extra funding, or to look for to participate in an alternative insurance coverage bonding plan, for the function of recognizing adequate funds to pay back the Texada Loan.

The Texada Loan is structured as a need promissory note having a maturity date of one year from the date of advance and bearing interest at 12% per year, payable quarterly. The Texada Loan is protected by a first-priority security interest over all of Bengal’s present and after-acquired personal effects aside from the shares of its entirely owned subsidiary, Bengal Energy (Australia) Pty Ltd.. Bengal might at any time prepay the primary amount owing under the Texada Loan, in entire or in part, with no notification or charge, offered that any such prepayment will remain in a minimum quantity of Cdn$ 200,000.

Bengal Energy Ltd. (TSX: BNG) is a worldwide oil and gas expedition and production business with producing and potential light oil-weighted onshore possessions in Australia’s Cooper Basin. Bengal uses distinct direct exposure to high-potential effect expedition and advancement jobs underpinned by lower-risk existing production and capital. The Business’s production stream consists mainly of ultra-light, sweet petroleum (52 ° API) out of Australia, which commands a superior rate to the Brent standard. For more details, please see www.bengalenergy.ca.

Particular declarations in this press release make up positive declarations. Positive declarations are declarations that are not historic realities and are usually, however not constantly, recognized by the usage of words such as “will”, “anticipates”, “strategies”, “prepares for”, “thinks”, “means”, “quotes”, “jobs”, “prospective” and comparable expressions, or that occasions or conditions “will”, “would”, “might”, “might” or “ought to” take place. Such declarations include understood and unidentified dangers, unpredictabilities and other elements that might trigger real outcomes or occasions to vary materially from those expected in the positive declarations. Positive declarations in this press release consist of, without restriction, declarations concerning the expected usage of profits from the Texada Loan, the awaited terms thereof and advantages therefrom and the Business looking for to raise extra funding, or to look for to participate in an alternative insurance coverage bonding plan, to pay back the Texada Loan. The forecasts, quotes and beliefs included in such positive declarations are based upon management’s quotes, viewpoints, and presumptions at the time the declarations were made, consisting of presumptions associating with the Texada Loan and the awaited terms thereof and advantages therefrom, which the Business will remain in a monetary position to abide by the Texada Loan.

Real outcomes might vary materially as an outcome of a variety of dangers and unpredictabilities consisting of, without restriction: dangers that the Texada Loan will not take place on the awaited terms, dangers associated with failure by the Business to make scheduled payments and interest on the Texada Loan, or that the Business might otherwise default on the Texada Loan, which might cause, among other things, enforcement of the security given to Texada under the Texada Loan, runs the risk of that the Business is not able to raise extra funding, or not able to participate in an alternative insurance coverage bonding plan, for the function of paying back the Texada Loan, and the danger elements revealed formerly and from time to time in the Business’s filings readily available under its SEDAR+ profile at sedarplus.ca. The positive declarations included in this press release are made since the date hereof and the Business disclaims any objective or commitment to upgrade or modify any positive declarations, whether as an outcome of brand-new details, future occasions or otherwise, other than as needed by appropriate law.