FIDDLEHEAD RESOURCES CORP. ANNOUNCES Q2 2025 FINANCIAL RESULTS

Andrea Osmond
4 days ago
2 min read

CALGARY, AB, Aug. 28, 2025 /CNW/ - Fiddlehead Resources Corp. ("Fiddlehead," or the "Company") (TSXV: FHR), is pleased to announce the filing of its unaudited financial and operating results for the three and six months ended June 30, 2025. Selected financial and operating information should be read in conjunction with Fiddlehead's unaudited interim financial statements and related management's discussion and analysis ("MD&A") for the three and six months ended June 30, 2025 and 2024 ("2025 Q2 Documents"). Financial and operating highlights for the period include:

Average corporate production of 1,526 BOE/d and 1,581 boe/d for the three and six months ended June 30, 2025, respectively.
Oil and gas sales totaled $2,774,408 and Funds Flow used in Operations was $925,816.
On April 10, 2025, Fiddlehead announced that it had entered into a share purchase agreement (the "Purchase Agreement") with a privately owned Central Alberta producer ("PrivateCo") to acquire upstream producing and non-producing assets near Cynthia, Alberta (the "Cynthia Assets"). Pursuant to the terms of the Purchase Agreement, Fiddlehead will acquire all the issued and outstanding shares of PrivateCo (the "Transaction") for total consideration of $21,000,000 (the "Purchase Price"), consisting of $18,000,000 cash consideration and $3,000,000 in units of Fiddlehead ("Unit"). Each Unit consists of one common share of Fiddlehead ("Common Share") valued at a price of $0.20 per share and one whole share purchase warrant ("Warrant"). The acquisition will result in 2,238 BOE/d of additional production.
Effective June 24, 2025, the Company's Credit Facility agreement was amended. Originally set to mature November 30, 2025, the maturity date was extended eighteen months to December 31, 2026, with monthly interest payments and no fixed required amortization or principal repayment until maturity.
Fiddlehead reached an agreement with the Vendor of the South Ferrier, Strachan Asset, resulting in the elimination of the deferred consideration to the vendor of $1.25 million and contingent consideration totalling $2.25 million previously announced, due on December 31, 2025 and January 31, 2026, respectively. A resulting gain has been recognized in the interim financial statements for the quarter of $1.94 million.

Read the full press release here.