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Maximus contract with CMS for Medicare services cancelled; shares drop
NEW YORK, Nov. 26, 2024 (GLOBE NEWSWIRE) -- At the end of the settlement date of November 15, 2024, short interest in 3,070 Nasdaq Global Market SM securities totaled 11,973,515,318 shares compared with 12,172,949,545 shares in 3,083 Global Market issues reported for the prior settlement date of October 31, 2024. The mid-November short interest represents 2.25 days compared with 3.02 days for the prior reporting period. Short interest in 1,668 securities on The Nasdaq Capital Market SM totaled 2,044,997,906 shares at the end of the settlement date of November 15, 2024, compared with 2,128,624,815 shares in 1,664 securities for the previous reporting period. This represents a 1.00 day average daily volume; the previous reporting period's figure was 1.05 In summary, short interest in all 4,738 Nasdaq ® securities totaled 14,018,513,224 shares at the November 15, 2024 settlement date, compared with 4,747 issues and 14,301,574,360 shares at the end of the previous reporting period. This is 1.83 days average daily volume, compared with an average of 2.36 days for the prior reporting period. The open short interest positions reported for each Nasdaq security reflect the total number of shares sold short by all broker/dealers regardless of their exchange affiliations. A short sale is generally understood to mean the sale of a security that the seller does not own or any sale that is consummated by the delivery of a security borrowed by or for the account of the seller. For more information on Nasdaq Short interest positions, including publication dates, visit http://www.nasdaq.com/quotes/short-interest.aspx or http://www.nasdaqtrader.com/asp/short_interest.asp . About Nasdaq: Nasdaq (Nasdaq: NDAQ) is a leading global technology company serving corporate clients, investment managers, banks, brokers, and exchange operators as they navigate and interact with the global capital markets and the broader financial system. We aspire to deliver world-leading platforms that improve the liquidity, transparency, and integrity of the global economy. Our diverse offering of data, analytics, software, exchange capabilities, and client-centric services enables clients to optimize and execute their business vision with confidence. To learn more about the company, technology solutions, and career opportunities, visit us on LinkedIn , on X @Nasdaq , or at www.nasdaq.com . Media Contact: Jennifer Lawson [email protected] A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/f227accd-cd52-4299-9a83-e3bcaa7a247c NDAQOMinisters want the Civil Service to be ‘more efficient and effective’. Ministers will not set an arbitrary cap on the number of civil servants amid reports more than 10,000 jobs could be lost as the result of a spending squeeze. Sir Keir Starmer has been warned by a trade union not to impose “blunt headcount targets” for the size of the Civil Service but Government sources insisted there would be no set limit, although the number “cannot keep growing”. Departments have been ordered to find 5% “efficiency savings” as part of Chancellor Rachel Reeves’ spending review, potentially putting jobs at risk. The size of the Civil Service has increased from a low of around 384,000 in mid-2016, and the Tories went into the general election promising to reduce numbers by 70,000 to fund extra defence spending. Any reduction under Labour would be more modest, with the Guardian reporting more than 10,000 jobs could be lost. A Government spokesman said: “Under our plan for change, we are making sure every part of government is delivering on working people’s priorities — delivering growth, putting more money in people’s pockets, getting the NHS back on its feet, rebuilding Britain and securing our borders in a decade of national renewal. “We are committed to making the Civil Service more efficient and effective, with bold measures to improve skills and harness new technologies.” Mike Clancy, general secretary of the Prospect trade union said: “We need a clear plan for the future of the civil service that goes beyond the blunt headcount targets that have failed in the past. “This plan needs to be developed in partnership with civil servants and their unions, and we look forward to deeper engagement with the government in the coming months.” A Government source said: “The number of civil servants cannot keep growing. “But we will not set an arbitrary cap. “The last government tried that and ended up spending loads on more expensive consultants.” The Government is already risking a confrontation with unions over proposals to limit pay rises for more than a million public servants to 2.8%, a figure only just over the projected 2.6% rate of inflation next year. Unions representing teachers, doctors and nurses have condemned the proposals. In the face of the union backlash, Downing Street said the public sector must improve productivity to justify real-terms pay increases. The Prime Minister’s official spokesman said: “It’s vital that pay awards are fair for both taxpayers and workers.” Asked whether higher pay settlements to staff would mean departmental cuts elsewhere, the spokesman said: “Real-terms pay increases must be matched by productivity gains and departments will only be able to fund pay awards above inflation over the medium-term if they become more productive and workforces become more productive.” TUC general secretary Paul Nowak said: “It’s hard to see how you address the crisis in our services without meaningful pay rises. “And it’s hard to see how services cut to the bone by 14 years of Tory government will find significant cash savings. “The Government must now engage unions and the millions of public sector workers we represent in a serious conversation about public service reform and delivery.”
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ZURICH — Saudi Arabia was officially confirmed Wednesday by FIFA as host of the 2034 World Cup in men's soccer, giving the oil-rich kingdom its biggest prize yet for massive spending on global sports driven by Crown Prince Mohammed bin Salman. The Saudi bid was the only candidate and was acclaimed by the applause of more than 200 FIFA member federations. They took part remotely in an online meeting hosted in Zurich by the soccer body's president Gianni Infantino. "The vote of the congress is loud and clear," said Infantino, who had asked officials on a bank of screens to clap their hands at head level to show their support. The decision was combined with approving the only candidate to host the 2030 World Cup. Spain, Portugal and Morocco will co-host in a six-nation project, with Argentina, Paraguay and Uruguay each getting one of the 104 games. The South American connection will mark the centenary of Uruguay hosting the first World Cup in 1930. The decisions complete a mostly opaque 15-month bid process which Infantino helped steer toward Saudi Arabia without a rival candidate, without taking questions, and which human rights groups warn will put the lives of migrant workers at risk. "We look forward to hosting an exceptional and unprecedented edition of the FIFA World Cup by harnessing our strengths and capabilities to bring joy to football fans around the world," Prince Mohammed said in a statement. FIFA and Saudi officials have said hosting the 2034 tournament can accelerate change, including more freedoms and rights for women, with Infantino on Wednesday calling the World Cup a "unique catalyst for positive social change and unity." "I fully trust our hosts to address all open points in this process, and deliver a World Cup that meets the world's expectations," the FIFA president said. An international collective of rights groups said FIFA made a "reckless decision" to approve Saudi Arabia without getting public assurances, and the Football Supporters Europe group said it was "the day football truly lost its mind." A fast-track path to victory was cleared last year by FIFA accepting the three-continent hosting plan for the 2030 World Cup. It meant only soccer federations in Asia and Oceania were eligible for the 2034 contest, and FIFA gave countries less than four weeks to declare a bid. Only Saudi Arabia did. The win will kick off a decade of scrutiny on Saudi labor laws and treatment of workers mostly from South Asia needed to help build and upgrade 15 stadiums, plus hotels and transport networks ahead of the 104-game tournament. Amnesty International said awarding the tournament to Saudi Arabia represents "a moment of great danger" for human rights. "FIFA's reckless decision to award the 2034 World Cup to Saudi Arabia without ensuring adequate human rights protections are in place will put many lives at risk," said Steve Cockburn, Amnesty International's Head of Labor Rights and Sport." One of the stadiums is planned to be 350 meters (yards) above the ground in Neom — a futuristic city that does not yet exist — and another named for the crown prince is designed to be atop a 200-meter cliff near Riyadh. During the bid campaign, FIFA has accepted limited scrutiny of Saudi Arabia's human rights record that was widely criticized this year at the United Nations. Saudi and international rights groups and activists warned FIFA it has not learned the lessons of Qatar's much-criticized preparations to host the 2022 World Cup. "At every stage of this bidding process, FIFA has shown its commitment to human rights to be a sham," Cockburn said. The kingdom plans to spend tens of billion of dollars on projects related to the World Cup as part of the crown prince's sweeping Vision 2030 project that aims to modernize Saudi society and economy. At its core is spending on sports by the $900 billion sovereign wealth operation, the Public Investment Fund, which he oversees. "It's amazing. The infrastructure, the stadiums, the conditions for the fans and everything. After what I see, I'm more convinced that 2034 will be the best World Cup ever," Cristiano Ronaldo said in a recorded package posted on X. The five-time Ballon d'Or winner has been part of Saudi Arabia's lavish spending on soccer — stunning the sport when agreeing to sign for Al Nassr in 2022 for a record-breaking salary reportedly worth up to $200 million a year. Critics have accused Saudi Arabia of "sportswashing" the kingdom's reputation. The prince, known as MBS, has built close working ties to Infantino since 2017 — aligning with the organizer of sport's most-watched event rather than directly confronting the established system as it did with the disruptive LIV Golf project. The result for Saudi Arabia and FIFA has been smooth progress toward the win Wednesday with limited pushback from soccer officials, though some from women international players. The steady flow of Saudi cash into international soccer is set to increase. FIFA created a new and higher World Cup sponsor category for state oil firm Aramco, and Saudi funding is set to underwrite the 2025 Club World Cup in the United States that is a pet project for Infantino. North American soccer body CONCACAF signed a multi-year deal with PIF, Saudi stadiums host Super Cup games for Italy and Spain, and nearly 50 FIFA member federations have signed working agreements with Saudi counterparts. Lavish spending by PIF-owned Saudi clubs in the past two years buying and paying players – including Cristiano Ronaldo, Neymar, Karim Benzema and Sadio Mané – put hundreds of millions of dollars into European soccer. That influence could be key in talks to agree which months to play the 2034 World Cup. The November-December slot taken by Qatar in 2022 to avoid extreme midsummer heat is complicated in 2034 by the holy month of Ramadan through mid-December and Riyadh hosting the multi-sport Asian Games. Still, January 2034 could be an option — and likely better for European clubs and leagues —after the International Olympic Committee said it saw few issues in clashing with the Salt Lake Winter Games opening Feb. 10, 2034. The IOC also has a major commercial deal with Saudi Arabia, to host the new Esports Olympics. Get local news delivered to your inbox!Onana once looked like another Man Utd flop but is now one of Prem’s best keepers and making huge difference off pitch
NoneMaximus contract with CMS for Medicare services cancelled; shares dropBRASILIA, Nov 21 (Reuters) - Former Brazilian President Jair Bolsonaro plotted a coup to overturn the 2022 election along with dozens of ex-ministers and senior aides, federal police said in a formal accusation filed on Thursday with the country's Supreme Court. The final police report caps a nearly two-year investigation into Bolsonaro's role in the election-denying movement that culminated in riots by his supporters that swept the capital Brasilia in January 2023, just a week after his rival President Luiz Inacio Lula da Silva took office. Many protesters at the time said they wanted to create chaos to justify a military coup, which they considered imminent. Earlier this week, police arrested five conspirators suspected of planning to assassinate Lula before he took office. Investigators found evidence Bolsonaro knew of that alleged plan, according to a police source familiar with the probe. Bolsonaro said on social media that investigators and the Supreme Court judge overseeing the case had been "creative" and done "everything the law does not say," adding that he would have to look closer at the formal police accusation. His lawyer told Reuters he would wait to see the report before commenting. The formal police accusations against Bolsonaro are a fresh blow to his plan to run for president in 2026 . U.S. President-elect Donald Trump's recent victory had buoyed Bolsonaro allies trying to overturn a court decision that has blocked him from public office for attacking the legitimacy of the 2022 vote. With the police report now filed with the Supreme Court, the country's prosecutor general will decide whether to press charges against Bolsonaro and 36 others accused of criminal organization to violently overthrow the democratic order. Among the accused are two of Bolsonaro's former defense ministers, including his 2022 running mate, retired General Walter Braga Netto; his former national security adviser, retired General Augusto Heleno; former navy commander Almir Garnier Santos; and former Justice Minister Anderson Torres. Lawmaker Alexandre Ramagem, who ran the Brazilian spy agency ABIN, and the head of Bolsonaro's right-wing Liberal Party, Valdemar Costa Neto, were also among the accused named in a federal police statement. Lawyers for Heleno and Torres and aides to Ramagem and Braga Netto declined to comment. Representatives for Garnier Santos and Costa Neto did not immediately respond to questions. Brazil's Defense Ministry, army and navy did not immediately respond to requests for comment. ARRESTS THIS WEEK Police on Tuesday arrested five people suspected of involvement in the assassination plot targeting Lula, then president-elect, and his running mate Geraldo Alckmin, days before they took office. Lula, speaking at the presidential palace on Thursday, said he was lucky to be alive. "The attempt to poison me and Alckmin didn't work and here we are," he said. Tuesday's arrests included retired Brigadier General Mario Fernandes, who was a deputy minister in Bolsonaro's cabinet. Police said they found in his possession a document outlining the plan that had been printed at the presidential palace. A police source said investigators had confirmed Bolsonaro was at the presidential palace when the document was printed, and they had identified conversations between his associates suggesting the former president was aware of the plot. Three active duty officers arrested on Tuesday had special forces training. Bolsonaro, a hard-right politician who had been an army captain, filled the top tiers of his government with military officers. Bolsonaro never recognized his October 2022 electoral defeat and he left Brazil days before Lula's inauguration for Florida. He eventually returned to Brazil and surrendered his passport to police investigating his role in the January 2023 capital riots, when supporters stormed and vandalized the Supreme Court, Congress and the executive presidential palace. Earlier this year, federal police finished separate criminal probes of Bolsonaro and his associates, formally accusing them of tampering with COVID-19 vaccination cards while in office and of embezzling jewelry gifted by the Saudi government. He denied wrongdoing in both cases. A person close to Brazil's Prosecutor General Paulo Gonet said he is likely to consider the result of all three probes targeting the former president before making a decision on presenting charges, without any clear deadline. (Reporting by Ricardo Brito in BrasiliaAdditional reporting by Andre Romani, Luana Maria Benedito, Eduardo Simoes and Luciana Magalhaes in Sao Paulo, and Lisandra Paraguassu in BrasiliaWriting by Anthony BoadleEditing by Brad Haynes and Rosalba O'Brien)
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Rescata tu AFORE, specialists in recovering retirement savings for foreign workers/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES . ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF U.S. SECURITIES LAW./ CALGARY, AB , Nov. 26, 2024 /CNW/ - Logan Energy Corp. LGN (" Logan " or the " Company ") is pleased to announce that it has entered into a definitive agreement today to acquire an operated 50% working interest in certain assets located in the Company's core area at Simonette, Alberta , for a cash purchase price of $52.0 million , before closing adjustments (the " Acquisition "). Logan is also pleased to announce an equity financing to be offered on a bought deal, private placement basis, led by National Bank Financial Inc. and Eight Capital as joint bookrunners and co-lead underwriters, for aggregate gross proceeds of $35.0 million (the " Equity Offering "). ACQUISITION HIGHLIGHTS Logan has entered into an asset purchase agreement with a subsidiary of Gran Tierra Energy Inc., a publicly-traded oil and gas company (the " Vendor "), pursuant to which the Company will acquire an operated 50% working interest in certain assets in the Simonette area, primarily targeting the Montney , and 100% of the Vendor's interest in certain Simonette gross overriding royalties (the " GORRs ") (collectively, the " Acquired Interest ") for cash consideration of $52.0 million , before closing adjustments. The Acquisition has an effective date of September 1, 2024 , and is expected to close on or around December 17, 2024 , subject to the satisfaction or waiver of customary closing conditions. The Acquisition includes current production of approximately 795 BOE/d (48% liquids), 25 net (52.5 gross) sections of highly prospective Montney acreage including 45 net identified Montney drilling locations, 16 gross 5-10% GORR sections, and interests in important infrastructure including a 50% working interest in a 9 million barrel water reservoir and an oil battery at 06-09-061-27W5. The Acquisition augments Logan's long term organic growth plan and is consistent with its stated strategy. Pro forma the Acquisition, Logan plans to achieve production growth to between 24,000 to 27,000 BOE per day by 2028, up from its previously stated target of 20,000 to 25,000 BOE per day by 2028. The high-quality oil weighted inventory being acquired is accretive to Logan's inventory and drives compelling full cycle returns on the Acquisition. VALUE PROPOSITION AND ACCRETION 2025 accretion of 11% to AFF per share (moderated by cycle time to add production) 2026-2029 accretion of 13-18% to AFF per share relative to Logan on a standalone basis Top tier Montney oil drilling locations add to Logan's inventory depth and provide torque to strong crude oil prices; South Simonette Lower Montney TPP forecast type curve of 520 mbbl of oil expected to deliver a NPV of approximately $14 million discounted at 10% before-tax 1 Removes 5-10% GORRs from 38 of Logan's net Montney locations, improving project economics Two-layer co-development of Lower and Middle Montney improves capital efficiencies and reduces proportionate infrastructure spending The strong synergies with Logan's existing owned gathering and processing will result in operating cost savings of over $7.5 million in the first five years of development on the acquired assets Eliminates approximately $13.0 million in near-term infrastructure capital from Logan's current five-year plan Expected to improve Logan's realized pricing due to the increase in liquids weighting, while maintaining Logan's long term cost structure (operating expenses are forecast to be less than $8.00 /BOE by 2027) __________________________________ 1 Based on the Vendor's 2023 Reserve Evaluation (defined herein) and the 3 consultant average price forecast at December 31, 2023. ACQUISITION METRICS Purchase Price (1) $52.0MM Q3 2024 Production (2) 795 BOE/d (48% liquids) 2025 Production (Forecast) (3) 1,440 BOE/d (55% liquids) 2025 Operating Netback (Forecast) (4) $34.51 / BOE 2025 Operating Income (Forecast) (4) $18.1MM Montney Drilling Locations – booked (5) 45 gross (22.5 net) Montney Drilling Locations – unbooked (5) 54 gross (22.5 net) Proved Developed Producing Reserves (6)(7) 933 mBOE Reserve Life Index (8) ~ 3.2 years Total Proved Plus Probable Reserves (6)(9)(10) 13,958 mBOE Reserve Life Index (8) ~ 48.1 years NPV of Reserves (before-tax at 10%) PDP $6.6MM / TPP $154.7MM Decommissioning Obligations (Undiscounted) (11) ~ $6.0MM Notes: Refer to "Reader Advisories". EQUITY OFFERING Logan has entered into an agreement with a syndicate of underwriters (the " Underwriters ") led by National Bank Financial Inc. and Eight Capital as joint bookrunners and co-lead underwriters (the " Lead Underwriters "), pursuant to which the Underwriters have agreed to purchase for resale on a private placement, bought deal basis, 47,946,000 common shares (" Common Shares ") at a price of $0.73 per Common Share for aggregate gross proceeds of approximately $35.0 million . It is anticipated that certain directors, officers and employees of the Company will subscribe for approximately $2.8 million of the Equity Offering. Closing of the Equity Offering will be conditional on the completion of the Acquisition. Logan intends to use the net proceeds from the Equity Offering to repay indebtedness incurred to fund a portion of the purchase price for the Acquisition. The completion of the Equity Offering is subject to customary closing conditions, including the receipt of all necessary regulatory approvals, including the approval of the TSX Venture Exchange (" TSXV "). Closing of the Equity Offering is expected to occur immediately following the Acquisition, on or around December 17, 2024 . The Company has agreed to pay a cash commission of 4.0% of the gross proceeds of the Equity Offering to the Underwriters, except with respect to subscribers to be included on the president's list for which no commission will be paid. The Common Shares will be subject to a statutory hold period that extends four months from the Closing Date; provided that any Common Shares issued in the United States will be subject to a 1 year hold period, subject to the ability to resell the Common Shares on the TSXV prior to 1 year in accordance with U.S. securities laws. ADVISORS National Bank Financial Inc. and Eight Capital are acting as financial advisors to Logan in respect of the Acquisition and the Equity Offering. Stikeman Elliott LLP is acting as legal counsel to Logan in respect of the Acquisition and the Equity Offering. Burnet, Duckworth & Palmer LLP is acting as legal counsel to the underwriters in respect of the Equity Offering. PRO FORMA 2024 GUIDANCE Logan has updated its guidance for 2024 to reflect the Acquisition and Equity Offering, including an expanded budget for Capital Expenditures before A&D of $157 million (previously $140 million ). Additionally, the Company has reduced its average production guidance for 2024 by 3% to approximately 8,400 BOE/d (previously 8,700 BOE/d) due to voluntary shut-ins of uneconomic natural gas production, deferral of certain production optimization projects until gas prices recover, and delayed onstream and intermittent run time from the Company's exploratory well at Lator. Despite lower production and weaker natural gas prices for the second half of 2024 than previously forecast, Logan's guidance for 2024 Adjusted Funds Flow of approximately $52 million is unchanged from previous guidance due to lower cash costs. Assuming a closing date of December 17, 2024 , the Acquisition will have a minimal contribution to 2024 average production and Adjusted Funds Flow. The increase in the capital expenditure budget primarily includes acceleration of projects originally planned for the first quarter of 2025 into the fourth quarter 2024, including one drill and two completions at Simonette and commencing construction for the Pouce Coupe Infrastructure ahead of schedule, to level load activity in preparation for a further expanded 2025 development program pro forma the Acquisition. Additionally, the expanded 2024 budget includes pad construction and drilling of the first joint well in the Lower Montney on the acquired assets. For the year ending December 31, 2024 Previous Guidance Updated Guidance Change % Average production (BOE/d) (1) 8,700 8,400 (300) (3) % Liquids 34 % 34 % 0 % - Forecast Average Commodity Prices WTI crude oil price (US$/bbl) 75.67 75.67 - - AECO natural gas price ($/GJ) 1.48 1.37 (0.11) (7) Average exchange rate (CA$/US$) 1.36 1.36 - - Operating Netback, after hedging ($/BOE) (1)(2) 18.40 19.04 0.64 3 Adjusted Funds Flow ($MM) (1)(2) 52 52 - - AFF per share, basic (2)(4) 0.11 0.11 - - Capital Expenditures before A&D ($MM) (2) 140 157 17 12 Acquisitions (3) - 63 63 nm Net Debt (Surplus), end of year ($MM) (2) (1) 47 48 nm Common shares outstanding, end of year (MM) (4) 534 582 48 9 (1) Additional information regarding the assumptions used in the forecasts of average production, Operating Netback and Adjusted Funds Flow are provided under "Reader Advisories" below. (2) "Operating Netback, after hedging", "Adjusted Funds Flow", "AFF per share", "Capital Expenditures before A&D" and "Net Debt (Surplus)" do not have standardized meanings under IFRS Accounting Standards, see "Non-GAAP Measures and Ratios" section of this press release. (3) Includes the $52.0 million purchase price for the Acquisition plus $8.1 million of estimated closing adjustments plus an assumed liability of $2.7 million estimated to carry the Vendor's share of the first Simonette drill. (4) The forecast of basic Common Shares outstanding assumes closing of the Equity Offering for aggregate gross proceeds of $35.0 million. AFF per share is based on the estimated basic weighted average common shares outstanding during the year. Refer to additional information regarding outstanding dilutive securities under the heading of "Share Capital" in this press release. PRO FORMA 2025 BUDGET Logan is pleased to provide details of its pro forma budget for 2025, which is focused on delivering material liquids growth through accelerated development at Pouce Coupe together with an expanded program at Simonette pro forma the Acquisition. Additionally, the Company will continue to advance its positions in the Alberta Duvernay and at Flatrock, British Columbia , invest heavily in infrastructure and reserve capital for additional land capture opportunities. The pro forma capital expenditure budget of $195 million includes approximately $35 million directed to the acquired assets. The 2025 capital expenditure budget remains elevated relative to other years within Logan's five year plan due to the one-time Pouce Coupe infrastructure costs (details of the Pouce Coupe infrastructure project are provided in the Company's press release dated September 12, 2024 ). In addition to constructing and commissioning the Pouce Coupe infrastructure, the Company plans to bring on production nine net wells at Pouce Coupe , five net wells at Simonette, and one well at Ante Creek driving 2025 average production of approximately 13,650 BOE per day (additional information regarding all drilling activity is provided under the heading "Reader Advisories – Assumptions for Guidance – Planned Activity"). The pro forma 2025 budget delivers (from 2024E to 2025E): 63% average production growth (62% per share); 91% oil and condensate growth; 20% decrease in average per unit operating and transportation costs; 131% Adjusted Funds Flow growth; and 91% Adjusted Funds Flow per share growth after giving effect to the Equity Offering. The Company's pro forma guidance for 2025 after giving effect to the Acquisition and Equity Financing is summarized as follows: For the year ending December 31, 2025 2025 Preliminary Budget 2025 Pro Forma Budget Change % 2025 average production (BOE/d) (1) 12,800 13,650 850 7 % Liquids 37 % 40 % 3 % 8 H2 2025 average production (BOE/d) (1) 14,500 15,750 1,250 9 % Liquids 38 % 42 % 4 % 11 Forecast Average Commodity Prices (2)(4) WTI crude oil price (US$/bbl) 70.00 70.00 - - AECO natural gas price ($/GJ) 2.50 2.50 - - Average exchange rate (CA$/US$) 1.35 1.35 - - Operating Netback, after hedging ($/BOE) (1)(3)(4) 25.92 27.80 1.88 7 Adjusted Funds Flow ($MM) (1)(3) 103 120 17 17 AFF per share, basic (3) 0.19 0.21 0.02 11 Capital Expenditures before A&D ($MM) (3) 170 195 25 15 Net Debt, end of year ($MM) (3) 66 122 56 85 Common shares outstanding, end of year (MM) (5) 534 582 48 9 (1) Additional information regarding the assumptions used in the forecasts of average production, Operating Netback and Adjusted Funds Flow are provided under "Reader Advisories" below. (2) Forecast natural gas prices have decreased since announcing the Company's preliminary 2025 budget in September 2024. For purposes of comparing pro forma guidance with the Acquisition to Logan's stand alone plan, we have held commodity price assumptions constant. Refer to commodity price sensitivities under the heading of "Reader Advisories". (3) "Operating Netback, after hedging", "Adjusted Funds Flow", "AFF per share", "Capital Expenditures before A&D" and "Net Debt" do not have standardized meanings under IFRS Accounting Standards, see "Non-GAAP Measures and Ratios" section of this press release. (4) A summary of outstanding commodity price risk management contracts is provided under the heading "Reader Advisories - Assumptions for Guidance – Commodity Hedging". (5) The forecast of basic Common Shares outstanding assumes closing of the Equity Offering. AFF per share is based on the estimated basic weighted average common shares outstanding during the year. Refer to additional information regarding outstanding dilutive securities under the heading of "Share Capital" in this press release. ABOUT LOGAN ENERGY CORP. Logan is a growth-oriented exploration, development and production company formed through the spin-out of the early stage Montney assets of Spartan Delta Corp. Logan was founded with a strong initial capitalization and three high quality and opportunity rich Montney assets located in the Simonette and Pouce Coupe areas of northwest Alberta and the Flatrock area of northeastern British Columbia and has recently established a position within the greater Kaybob Duvernay oil play with assets in the North Simonette, Ante Creek and Two Creeks areas. The management team brings proven leadership and a track record of generating excess returns in various business cycles. READER ADVISORIES Notes to Acquisition Metrics table : 1) The purchase price to be paid by Logan in respect of the Acquisition is $52.0 million in cash, before closing adjustments. The Company expects purchase price adjustments, which include estimated cash flows, capital expenditures, and interest between the effective date of September 1, 2024 and closing to be approximately $8.1 million in favour of the Vendor due to recent drilling activity. Additionally, Logan has agreed to carry the Vendor's share of the first Simonette drill at an estimated cost of $2.7 million. Total consideration inclusive of closing adjustments and the drill carry is estimated to be approximately $62.8 million. 2) Average production for the third quarter of 2024 from the Acquired Interest was approximately 795 BOE/d, consisting of 325 bbl/d of oil (41%), 60 bbl/d of NGLs (7%), and 2,460 mcf/d of natural gas (52%). 3) Average production forecast for 2025 is approximately 1,440 BOE/d, consisting of 725 bbl/d of oil (50%), 65 bbl/d of NGLs (5%), and 3.9 mmcf/d of natural gas (45%). 4) 2025 Operating Netback and Operating Income forecast based on commodity price assumptions of US$70/bbl WTI and $2.50/GJ AECO. Operating Income and Operating Netback are non-GAAP measures. See " Non-GAAP Measures and Ratios " for additional details. 5) Of the 99 gross (45 net) identified Montney locations, there are 45 gross (22.5 net) booked locations in the Vendor's 2023 Reserve Evaluation (defined below) with an additional 54 gross (22.5 net) of unbooked locations identified by Logan. See " Drilling Locations " for additional details. 6) Proved developed producing reserves (" PDP ") and total proved plus probable reserves (" TPP ") are based on the Vendor's 2023 Reserve Evaluation. Reserves volumes and values are based on working interest reserves of the Acquired Interest before deduction of royalties and without including any of royalty interest reserves. See " Reserves Disclosure " for additional details. 7) PDP consisting of 322 MMbbl of crude oil (34%), 102 MMbbl of NGLs (11%), and 3,057 MMcf of natural gas (55%). 8) Reserve life index (" RLI ") is calculated by dividing PDP or TPP, as applicable, by estimated current production of the Acquired Interest of 795 BOE/d. See note (2) for a breakdown of estimated current production from the Acquired Interest by product type and note (6) for further information regarding reserves estimates. 9) TPP consisting of 8,926 MMbbl of oil (64%), 806 MMbbl of NGLs (6%), and 25,354 MMcf of natural gas (30%). 10) Future development capital of $568.2 million gross ($284.1 million net) are attributable to the Acquired Interest and represents expectations for the remainder of the booked reserves life of 5 years (2024-2028), per the TPP case in the Vendor's 2023 Reserve Evaluation. 11) Decommissioning obligations for the Acquired Interest of approximately $6.0 million (undiscounted and uninflated) are internally estimated by Logan based on AER Directive 11 updates effective June 26, 2024 as well as internal estimate of reclamation costs and site specific information. Non-GAAP Measures and Ratios This press release contains certain financial measures and ratios which do not have standardized meanings prescribed by International Financial Reporting Standards as issued by the International Accounting Standards Board (" IFRS Accounting Standards "), also known as Canadian Generally Accepted Accounting Principles (" GAAP "). As these non-GAAP financial measures and ratios are commonly used in the oil and gas industry, Logan believes that their inclusion is useful to investors. The reader is cautioned that these amounts may not be directly comparable to measures for other companies where similar terminology is used. The non-GAAP measures and ratios used in this press release, represented by the capitalized and defined terms outlined below, are used by Logan as key measures of financial performance and are not intended to represent operating profits nor should they be viewed as an alternative to cash provided by operating activities, net income or other measures of financial performance calculated in accordance with IFRS Accounting Standards. The definitions below should be read in conjunction with the "Non-GAAP and Other Financial Measures" section of the Company's MD&A dated November 13, 2024 , which includes discussion of the purpose and composition of the specified financial measures and detailed reconciliations to the most directly comparable GAAP financial measures. Operating Income and Operating Netback Operating Income, a non-GAAP financial measure, is a useful supplemental measure that provides an indication of the Company's ability to generate cash from field operations, prior to administrative overhead, financing and other business expenses. " Operating Income, before hedging " is calculated by Logan as oil and gas sales, net of royalties, plus processing and other revenue, less operating and transportation expenses. " Operating Income, after hedging " is calculated by adjusting Operating Income, before hedging for realized gains or losses on derivative financial instruments. The Company refers to Operating Income expressed per unit of production as an " Operating Netback " and reports the Operating Netback before and after hedging, both of which are non-GAAP financial ratios. Logan considers Operating Netback an important measure to evaluate its operational performance as it demonstrates its field level profitability relative to current commodity prices. Adjusted Funds Flow Cash provided by operating activities is the most directly comparable measure to Adjusted Funds Flow. " Adjusted Funds Flow " is reconciled to cash provided by operating activities by excluding changes in non-cash working capital, adding back transaction costs on acquisitions (if applicable). Logan utilizes Adjusted Funds Flow as a key performance measure in the Company's annual financial forecasts and public guidance. The Company refers to Adjusted Funds Flow expressed per unit of production as an " Adjusted Funds Flow Netback ". Adjusted Funds Flow per share (" AFF per share ") AFF per share is a non-GAAP financial ratio used by the Logan as a key performance indicator. The basic and/or diluted weighted average Common Shares outstanding used in the calculation of AFF per share is calculated using the same methodology as net income per share. Capital Expenditures Logan uses " Capital Expenditures before A&D " to measure its capital investment level compared to the Company's annual budgeted capital expenditures for its organic drilling program, excluding acquisitions or dispositions. " Capital Expenditures " is calculated by adding cash acquisition costs, net of proceeds from dispositions to Capital Expenditures before A&D. The directly comparable GAAP measure is cash used in investing activities, before changes in non-cash investing working capital. Net Debt (Surplus) Throughout this press release, references to " Net Debt (Surplus) " includes any long-term debt outstanding on the Company's revolving and term credit facilities, net of Adjusted Working Capital. Net Debt and Adjusted Working Capital are both non-GAAP financial measures. "Adjusted Working Capital" is calculated as current liabilities less current assets, excluding derivative financial instrument assets and liabilities. Supplementary Financial Measures The supplementary financial measures used in this press release (primarily average sales price per product type and certain per BOE and per share figures) are either a per unit disclosure of a corresponding GAAP measure, or a component of a corresponding GAAP measure, presented in the financial statements. Supplementary financial measures that are disclosed on a per unit basis are calculated by dividing the aggregate GAAP measure (or component thereof) by the applicable unit for the period. Supplementary financial measures that are disclosed on a component basis of a corresponding GAAP measure are a granular representation of a financial statement line item and are determined in accordance with GAAP. Assumptions for Guidance Logan expects production to average approximately 8,400 BOE/d during 2024 and 13,650 BOE/d in 2025. The significant assumptions used in the forecast of Operating Netbacks and Adjusted Funds Flow for the Company's 2024 and 2025 Guidance are summarized below. Production Guidance 2024 Previous Guidance 2024 Pro Forma Guidance Change % 2025 Preliminary Budget 2025 Pro Forma Budget Change % Crude Oil (bbls/d) 2,025 2,345 16 3,045 4,780 57 Condensate (bbls/d) 600 175 (71) 1,190 25 (98) Crude oil and condensate (bbls/d) 2,625 2,520 (4) 4,235 4,805 13 NGLs (bbls/d) 310 365 18 465 615 32 Natural gas (mcf/d) 34,590 33,090 (4) 48,600 49,380 2 Combined average (BOE/d) 8,700 8,400 (3) 12,800 13,650 7 % Liquids 34 % 34 % - 37 % 40 % 8 Financial Guidance ($/BOE) Oil and gas sales 36.17 35.89 (1) 40.42 42.46 5 Processing and other revenue 0.93 1.05 13 0.55 0.57 4 Royalties (3.41) (3.22) (6) (3.30) (3.32) 1 Transportation expenses (3.26) (3.06) (6) (2.50) (2.70) 8 Operating expenses (12.62) (12.23) (3) (9.54) (9.50) (0) Operating Netback, before hedging 17.81 18.43 3 25.63 27.51 7 Realized gain (loss) on derivatives 0.59 0.61 3 0.29 0.29 - Operating Netback, after hedging 18.40 19.04 3 25.92 27.80 7 General and administrative expenses (1.95) (1.96) 1 (1.54) (1.65) 7 Financing expenses (0.04) (0.00) (100) (1.36) (1.76) 29 Current income taxes - - - (0.57) - (100) Decommissioning obligations (0.20) (0.24) 20 (0.38) (0.36) (5) Adjusted Funds Flow 16.21 16.84 4 22.07 24.03 9 Planned Activity Area Net (Gross) Wells Drilled Net (Gross) Wells Completed Net (Gross) Wells Onstream 2024 Simonette 5.5 (6) 6 4 Pouce Coupe 3 3 3 Flatrock - - - Ante Creek 1 - - 2025 Simonette 5 (8) 5 (7) 5 (6) Pouce Coupe 9 9 9 Flatrock 2 - - Ante Creek - 1 1 Note: Net and gross well counts are the same if not otherwise noted. Guidance Sensitivities Changes in forecast commodity prices, exchange rates, differences in the amount and timing of capital expenditures, and variances in average production estimates can have a significant impact on the key performance measures included in Logan's pro forma guidance for 2025. The Company's actual results may differ materially from these estimates. Holding all other assumptions constant, the table below shows the impact to forecasted Adjusted Funds Flow of a US$10 /bbl change in the WTI crude oil price, a $0.50 /GJ change in the AECO natural gas price, and a $0.05 change in the CA$/US$ exchange rate. Assuming capital expenditures are unchanged, an increase (decrease) in Adjusted Funds Flow will result in an equivalent decrease (increase) in forecasted Net Debt. Year Ending December 31, 2025 – Change in Adjusted Funds Flow ($MM) AECO / WTI US$60.00/bbl US$70.00/bbl US$80.00/bbl CA$/US$ FX Impact $2.00/GJ ($24) ($8) $6 1.30 ($5) $2.50/GJ ($16) - $14 1.35 - $3.00/GJ ($7) $9 $20 1.40 $5 Commodity Hedging The following table summarizes the Company's financial risk management contracts in place as of the date hereof: Commodity / Contract Type Notional Volume Reference Price Fixed Contract Price Remaining Term Crude oil – swap 1,500 bbls/d WTI CA$101.33 per barrel November 1 to December 31, 2024 Crude oil – swap 100 bbls/d WTI US$74.35 per barrel November 1 to December 31, 2024 Crude oil – swap 750 bbls/d WTI US$71.60 per barrel January 1 to March 31, 2025 Crude oil – swap 1,250 bbls/d WTI US$70.84 per barrel April 1 to June 30, 2025 Crude oil – swap 1,000 bbls/d WTI US$70.46 per barrel July 1 to September 30, 2025 Crude oil – swap 500 bbls/d WTI US$70.00 per barrel October 1 to December 31, 2025 Crude oil – swap 500 bbls/d WTI CA$102.05 per barrel January 1 to December 31, 2025 Crude oil – short call 500 bbls/d WTI CA$102.05 per barrel January 1 to December 31, 2025 Natural gas – swap 20,000 GJ/d AECO CA$1.86 per GJ November 1 to 30, 2024 Natural gas – swap 5,000 GJ/d AECO CA$2.50 per GJ January 1 to March 31, 2025 Natural gas – swap 15,000 GJ/d AECO CA$2.23 per GJ April 1 to October 31, 2025 Natural gas – swap 15,000 GJ/d AECO CA$3.15 per GJ Nov 1, 2025 to March 31, 2026 As of the date hereof, Logan has an average of 1,375 bbls/d of oil hedged at an average WTI price of $99.26 per barrel (Canadian dollar equivalent based on FX of 1.38) for calendar 2025, representing approximately 31% of forecasted crude oil and condensate production (net of royalties) pro forma completion of the Acquisition. Additionally, the Company has AECO swaps in place for an average of 12,534 GJ/d of natural gas at $2.44 per GJ on average for calendar 2025, representing approximately 23% of forecasted natural gas production (net of royalties) pro forma completion of the Acquisition. Reserves Disclosure All reserves values, future net revenue and ancillary information in this press release relating to the Acquired Interest is based on the evaluation prepared by GLJ Petroleum Consultants for i3 Energy plc, the previous owner of the Acquired Interest, effective December 31, 2023 with a preparation date of March 8, 2024 (the " Vendor's 2023 Reserve Report ") and mechanically updated by the Company's internal qualified reserves evaluator to reflect the working interest in the assets to be acquired by Logan pursuant to the Acquisition, all in accordance with National Instrument 51-101 – Standards of Disclosure of Oil and Gas Activities (" NI 51-101 ") and the most recent publication of the Canadian Oil and Gas Evaluations Handbook (" COGEH "). The estimates of reserves and future net revenue for the Acquisition may not reflect the same confidence level as estimates of reserves and future net revenue for all of Logan's properties, due to the effects of aggregation. All reserve references in this press release are "gross reserves". Gross reserves are a company's total working interest reserves before the deduction of any royalties payable by such company and before the consideration of such company's royalty interests. It should not be assumed that the present worth of estimated future cash flow of net revenue presented herein represents the fair market value of the reserves. There is no assurance that the forecast prices and costs assumptions will be attained and variances could be material. The recovery and reserve estimates of Logan's crude oil, NGL and natural gas reserves, including those of the Acquired Interest, provided herein are estimates only and there is no guarantee that the estimated reserves will be recovered. Actual crude oil, natural gas and NGL reserves may be greater than or less than the estimates provided herein. Proved reserves are those reserves that can be estimated with a high degree of certainty to be recoverable. It is likely that the actual remaining quantities recovered will exceed the estimated proved reserves. Probable reserves are those additional reserves that are less certain to be recovered than proved reserves. It is equally likely that the actual remaining quantities recovered will be greater or less than the sum of the estimated proved plus probable reserves. Proved developed producing reserves are those reserves that are expected to be recovered from completion intervals open at the time of the estimate. These reserves may be currently producing or, if shut-in, they must have previously been on production, and the date of resumption of production must be known with reasonable certainty. Undeveloped reserves are those reserves expected to be recovered from known accumulations where a significant expenditure (e.g., when compared to the cost of drilling a well) is required to render them capable of production. They must fully meet the requirements of the reserves category (proved, probable, possible) to which they are assigned. Certain terms used in this press release but not defined are defined in NI 51-101, CSA Staff Notice 51-324 – Revised Glossary to NI 51-101, Revised Glossary to NI 51-101, Standards of Disclosure for Oil and Gas Activities (" CSA Staff Notice 51-324 ") and/or the COGEH and, unless the context otherwise requires, shall have the same meanings herein as in NI 51-101, CSA Staff Notice 51-324 and the COGEH, as the case may be. Drilling Locations This press release discloses drilling locations with respect to the Acquired Interest in two categories: (i) booked; (ii) unbooked locations. Booked locations identified in this press release have associated proved and/or probable locations, as applicable, and proved and probable locations were derived from the Vendor's 2023 Reserve Report in accordance with NI 51-101 and COGEH. Unbooked locations are internal estimates based on the Company's assumptions as to the number of wells that can be drilled per section based on industry practice and internal review, being 600m inter well spacing and an average horizontal well length of ~3,000m. Unbooked locations do not have attributed reserves or resources. Unbooked locations have been identified by management as an estimation of Logan's multi-year drilling activities based on evaluation of applicable geologic, seismic, engineering, production and reserves information. There is no certainty that the Company will drill all unbooked drilling locations and if drilled there is no certainty that such locations will result in additional oil and gas reserves, resources or production. The drilling locations on which the Company actually drills wells will ultimately depend upon the availability of capital, regulatory approvals, seasonal restrictions, oil and natural gas prices, costs, actual drilling results, additional reservoir information that is obtained and other factors. While certain of the unbooked drilling locations have been de-risked by drilling existing wells in relative close proximity to such unbooked drilling locations, the majority of other unbooked drilling locations are farther away from existing wells where management has less information about the characteristics of the reservoir and therefore there is more uncertainty whether wells will be drilled in such locations and if drilled there is more uncertainty that such wells will result in additional oil and gas reserves, resources or production. Other Measurements All dollar figures included herein are presented in Canadian dollars, unless otherwise noted. This press release contains various references to the abbreviation "BOE" which means barrels of oil equivalent. Where amounts are expressed on a BOE basis, natural gas volumes have been converted to oil equivalence at six thousand cubic feet (mcf) per barrel (bbl). The term BOE may be misleading, particularly if used in isolation. A BOE conversion ratio of six thousand cubic feet per barrel is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead and is significantly different than the value ratio based on the current price of crude oil and natural gas. This conversion factor is an industry accepted norm and is not based on either energy content or current prices. Such abbreviation may be misleading, particularly if used in isolation. References to "oil" in this press release include light crude oil, medium crude oil, heavy oil and tight oil combined. NI 51-101 includes condensate within the product type of "natural gas liquids". References to "natural gas liquids" or "NGLs" include pentane, butane, propane and ethane. References to "gas" or "natural gas" relates to conventional natural gas. References to "liquids" includes crude oil, condensate and NGLs. Share Capital Common shares of Logan trade on the TSXV under the symbol "LGN". As of the date hereof, there are 534.0 million Common Shares outstanding. Pro forma completion of the Equity Offering, there will be 582.0 million Common Shares outstanding. There are no preferred shares or special shares outstanding. Logan's convertible securities outstanding as of the date of this press release include: 64.3 million Common Share purchase warrants with an exercise price of $0 .35 per share expiring July 12, 2028 ; and 22.6 million stock options with an exercise price of $0.89 per share expiring November 22, 2028 . Forward-Looking and Cautionary Statements Certain statements contained within this press release constitute forward-looking statements within the meaning of applicable Canadian securities legislation. All statements other than statements of historical fact may be forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as "anticipate", "budget", "plan", "endeavor", "continue", "estimate", "evaluate", "expect", "forecast", "monitor", "may", "will", "can", "able", "potential", "target", "intend", "consider", "focus", "identify", "use", "utilize", "manage", "maintain", "remain", "result", "cultivate", "could", "should", "believe" and similar expressions. Logan believes that the expectations reflected in such forward-looking statements are reasonable as of the date hereof, but no assurance can be given that such expectations will prove to be correct and such forward-looking statements should not be unduly relied upon. Without limitation, this press release contains forward-looking statements pertaining to: the completion of the Equity Offering and the Acquisition and the terms and timing thereof (including the use of proceeds from the Equity Offering); satisfaction or waiver of the closing conditions to the Equity Offering and the Acquisition; receipt of required regulatory and stock exchange approvals for the completion of the Equity Offering; insider participation in the Equity Offering; anticipated benefits of the Acquisition, including the impact of the Acquisition and the Acquired Interest on the Company's operations, reserves, inventory and opportunities, financial condition, realized pricing, access to capital and overall strategy; Logan's revised 2024 and 2025 guidance and capital budgets, including drilling programs and infrastructure development and the timing and anticipated results thereof; anticipated revenue, capital and operating cost synergies resulting from the Acquisition; the Company's opportunity rich assets; management's track record of generating excess returns in various business cycles; success of the Company's drilling program based on initial results; future drilling plans; EUR; risk management activities, including hedging; continuing to advance key infrastructure projects; forecast production for the remainder of 2024 and 2025; and the expectation that per unit operating expenses will decrease with production growth. The forward-looking statements and information are based on certain key expectations and assumptions made in respect of Logan including expectations and assumptions concerning: the receipt of all approvals and satisfaction of all conditions to the completion of the Equity Offering and the Acquisition; the business plan of Logan; the timing of and success of future drilling; development and completion activities and infrastructure projects; the performance of existing wells; the performance of new wells; the availability and performance of facilities and pipelines; the geological characteristics of Logan's properties; the successful integration of the recently acquired assets into Logan's operations; the successful application of drilling, completion and seismic technology; prevailing weather conditions; prevailing legislation affecting the oil and gas industry; prevailing commodity prices, price volatility, price differentials and the actual prices received for Logan's products; impact of inflation on costs; royalty regimes and exchange rates; the application of regulatory and licensing requirements; the availability of capital (including under the Equity Offering and the Company's credit facilities), labour and services; the creditworthiness of industry partners; and the ability to source and complete acquisitions. Although Logan believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward-looking statements and information because Logan can give no assurance that they will prove to be correct. By its nature, such forward-looking information is subject to various risks and uncertainties, which could cause the actual results and expectations to differ materially from the anticipated results or expectations expressed. These risks and uncertainties include, but are not limited to: counterparty risk to closing the Equity Offering and the Acquisition; fluctuations in commodity prices; changes in industry regulations and political landscape both domestically and abroad; wars, hostilities, civil insurrections; changes in legislation, including but not limited to tax laws, royalties and environmental regulations (including greenhouse gas emission reduction requirements and other decarbonization or social policies and including uncertainty with respect to the interpretation of omnibus Bill C-59 and the related amendments to the Competition Act ( Canada )); foreign exchange or interest rates; increased operating and capital costs due to inflationary pressures (actual and anticipated); volatility in the stock market and financial system; impacts of pandemics; the retention of key management and employees; and risks with respect to unplanned pipeline outages and risks relating to inclement and severe weather events and natural disasters, such as fire, drought, flooding and extreme hot or cold temperatures, including in respect of safety, asset integrity and shutting-in production. Ongoing military actions in the Middle East and between Russia and Ukraine and related sanctions have the potential to threaten the supply of oil and gas from those regions. The long-term impacts of these actions remains uncertain. The foregoing list is not exhaustive. Please refer to the MD&A and AIF for discussion of additional risk factors relating to Logan, which can be accessed on its SEDAR+ profile at www.sedarplus.ca . Readers are cautioned not to place undue reliance on this forward-looking information, which is given as of the date hereof, and to not use such forward-looking information for anything other than its intended purpose. Logan undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law. This press release contains future-oriented financial information and financial outlook information (collectively, " FOFI ") about Logan's five year growth plan, Logan's revised pro forma budget and guidance for 2024 and 2025, including with respect to prospective results of operations, production (including average production of 8,400 BOE/d during 2024, 13,650 BOE/d in 2025 and growing to between 24,000 and 27,000 BOE/d by 2028) and operating costs (including reducing its operating expenses to below $8.00 per BOE by 2027), including pro forma the completion of the Equity Offering and the Acquisition, all of which are subject to the same assumptions, risk factors, limitations, and qualifications as set forth in the above paragraphs. FOFI contained in this document was approved by management as of the date of this document and was provided for the purpose of providing further information about Logan's proposed business activities in the remainder of 2024 and 2025. Logan and its management believe that FOFI has been prepared on a reasonable basis, reflecting management's best estimates and judgments, and represent, to the best of management's knowledge and opinion, the Company's expected course of action. However, because this information is highly subjective, it should not be relied on as necessarily indicative of future results. Logan disclaims any intention or obligation to update or revise any FOFI contained in this document, whether as a result of new information, future events or otherwise, unless required pursuant to applicable law. Readers are cautioned that the FOFI contained in this document should not be used for purposes other than for which it is disclosed herein. Changes in forecast commodity prices, exchange rates, differences in the timing of capital expenditures, and variances in average production estimates can have a significant impact on the key performance measures included in Logan's guidance. The Company's actual results may differ materially from these estimates. This press release is not an offer of the securities for sale in the United States . The securities offered have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act")) or any U.S. state securities laws and may not be offered or sold in the United States absent registration or an available exemption from the registration requirement of the U.S. Securities Act and applicable U.S. state securities laws. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities, in any jurisdiction in which such offer, solicitation or sale would be unlawful. Neither TSX Venture Exchange nor its regulation services provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release. Abbreviations 2024E Forecast for the year ending December 31, 2024 2025E Forecast for the year ending December 31, 2025 A&D acquisitions and dispositions AECO Alberta Energy Company "C" Meter Station of the NOVA Pipeline System AIF refers to the Company's Annual Information Form dated March 18, 2024 bbl barrel bbls/d barrels per day bcf one billion cubic feet BOE barrels of oil equivalent BOE/d barrels of oil equivalent per day CA$ or CAD Canadian dollar DCET drilling, completion, equipping and tie-in capital expenditures DUC drilled, uncompleted well EUR estimated ultimate recovery GJ gigajoule H2 second half of the year or six month period ending December 31 Mbbl one thousand barrels MBOE one thousand barrels of oil equivalent mcf one thousand cubic feet mcf/d one thousand cubic feet per day MD&A refers to Management's Discussion and Analysis of the Company dated November 13, 2024 MMbtu one million British thermal units mmcf one million cubic feet mmcf/d one million cubic feet per day MM millions $MM millions of dollars MPa megapascal unit of pressure NGL(s) natural gas liquids NPV net present value NI 51-101 National Instrument 51-101 – Standards of Disclosure for Oil and Gas Activities nm "not meaningful", generally with reference to a percentage change NYMEX New York Mercantile Exchange, with reference to the U.S. dollar "Henry Hub" natural gas price index PDP proved developed producing reserves TP total proved reserves TPP total proved plus probable reserves TSXV TSX Venture Exchange US$ or USD United States dollar WTI West Texas Intermediate, the reference price paid in U.S. dollars at Cushing, Oklahoma for crude oil of standard grade SOURCE Logan Energy Corp. 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