Westgate Energy Inc. announced the commencement of the initial portion of its second half 2024 drilling campaign. This summer program (the Program) will consist of two horizontal multi-lateral oil wells at the Company's core Killam property in Eastern Alberta. This marks the first stage of the Company's second half 2024 drilling plans, which are aimed at significantly boosting the Company's production and reserves.

The Program's first well will feature a four-leg, open-hole horizontal design targeting the Mannville Sparky Formation. This well will directly offset the Company's last well drilled in December of 2023 and will be drilled off the same pad and feature an on-lease tie-in for solution gas. The Program's second well is planned as a six-leg, open-hole horizontal well also targeting the Mannville Sparky Formation, and will be drilled off of a new pad within Westgate's Killam Field.

The new pad is designed to accommodate two additional follow-on wells, predicated on successful results from the Program's second well. Success from the two-well Program will contribute to the Company's previously communicated average second half 2024 production range of 350 to 400 boe/d. The first well is anticipated to take 14 days to drill, after which the drilling rig will be moved to the second location for a subsequent 14-day drill. Completion, equipping, and tie-in of each well will follow shortly thereafter.

The Company expects to provide initial production results in September 2024, after 'clean-up' or recovery of the drilling fluid from the two wells has been achieved.