WESTGATE ENERGY ANNOUNCES UPDATE ON THREE WELL DRILLING PROGRAM AND Q2 2025 FINANCIAL RESULTS

CALGARY, AB, Aug. 26, 2025 /CNW/ - Westgate Energy Inc. ("Westgate" or the "Company") (TSXV:WGT), 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 Westgate's unaudited consolidated financial statements and related management's discussion and analysis ("MD&A") for the three and six months ended June 30, 2025 and 2024, which are available on SEDAR+ at www.sedarplus.ca and on Westgate's website at www.westgateenergy.ca.

Financial & Operating Results Summary

Three Months Ended June 30,

Six Months Ended June 30,

($'s, unless otherwise stated)

2025

2024

2025

2024

Production

Oil

bbl/d

130

86

134

87

Natural gas

mcf/d

708

618

705

564

NGLs

bbl/d

5

4

5

5

Total

Boe/d

253

193

256

186

Revenue:

Crude Oil

882,207

713,611

1,923,292

1,328,875

Natural Gas

78,879

43,904

188,384

129,548

NGLs

25,140

33,642

52,987

63,522

Petroleum, natural gas and NGL sales

986,226

791,157

2,164,663

1,521,945

Processing income

3,863

3,789

7,246

4,153

Total Revenue(1)

990,089

794,946

2,171,909

1,526,098

Royalties

(127,503)

(87,026)

(282,475)

(158,914)

Operating expenses

(384,920)

(319,159)

(891,943)

(701,827)

Operating Income (loss)(1)

477,666

388,761

997,491

665,357

Expenditures on Exploration and Evaluation

-

-

-

-

Expenditures on Property & Equipment ("P&E")

(4,844,842)

326,374

(5,510,942)