FIDDLEHEAD RESOURCES CORP. ANNOUNCES Q2 2026 FINANCIAL RESULTS

CALGARY, AB, Aug. 20, 2026 /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, 2026. 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, 2026 and 2025 ("2026 Q2 Documents"). Financial and operating highlights for the period include:

• For the three and six month period ending June 30, 2026, Fiddlehead's petroleum and natural gas sales totaled $3.4 million and $6.5 million respectively (2025 - $2.8 million and $6.8 million). The Company achieved a Netback of $1.9 million and $2.7 million for the three and six month period ended June 30, 2026 (2025 - $0.3 million and $1.6 million).

  
  

• The Company exited June 30, 2026, at 1,496 BOE per day ("BOE/d"). In the three month period ended June 30, 2026, average production was 1,335 BOE/d, a decrease of 12.6% over the comparative prior period. For the six months period ended June 30, 2026, average production of 1,387 BOE per day ("BOE/d") was achieved, a decrease of 12.3% over the comparative prior period. In addition to expected natural decline, the decrease was due to a 14-day third party outage and compressor overhaul in June 2026, which decreased production by 450 BOE/d. The outage impacted average production for the three and six month periods ended June 30, 2026, by an estimated 69 BOE/d and 35 BOE/d, respectively.

  
  

• Generated $1.4 million in cash proceeds through the sale of its minority, non-operated working interest in nine sections of non-core acreage. The disposition reduces Fiddlehead's abandonment liabilities by approximately $0.2 million. The Company recognized a gain for the 6-month period ended June 30, 2026, of $1.3 million. The disposition reduces overall production by approximately 24.7 BOE/d. $0.7 million of the $1.4 million proceeds was used to repay debt principal and the balance retained for general working capital purposes.

  
  

• Achieved average realized sales price of $28.79 per BOE, for the three month period ended June 30, 2026, an increase of 42.7% over the comparative prior period. For the six month period ended June 30th, 2026, average realized sales price was $26.26 per BOE, an increase of 10.6% over the comparative prior period.

  
  

• On January 6, 2026, the Company entered a 7-month natural gas supply agreement, commencing April 1, 2026, through to October 31, 2026, under which the Company will deliver 2,000 GJ/d and receive a price of $2.15/GJ, less associated deductions. On October 30, 2025, the Company entered a 1-year natural gas supply agreement, commencing on November 1, 2025, under which the Company will deliver 1,500 GJ/d and receive a price of $2.86/GJ, less associated deductions. In the six month period ended June 30, 2026, the Company received $415,819 above market price under these contracts. These contracts enables the Company to ensure a portion of its revenue and cash flow for the contracted periods.

  
  

Read the full Q2 Results release here.