Star Metro - LNG Energy Group Provides Operational Update

TORONTO, ON / ACCESS Newswire / July 10, 2026 / LNG Energy Group Corp. (TSXV:LNGE)(TSXV:LNGE.WT)(OTC PINK:LNGNF)(FWB:E26) (the "Company" or "LNG Energy Group") today provided an update on its operations and recent corporate developments.

Colombia Production and Realized Prices

During the first half of 2026, daily production averaged approximately 5,449 Mcf/d of natural gas and 36 bbl/d of condensate. Compared to the first half of 2025, natural gas and condensate volumes declined by 59% and 50%, respectively. In the second quarter of 2026, natural gas production averaged 5,102 Mcf/d and oil production 26 bbl/d, reflecting a decline of 12% and 24%, respectively, compared to the first quarter of 2026. Over the same period, the Company realized average sales prices of approximately US$9.0 per Mcf of natural gas and US$78.4 per barrel of crude oil.

Average daily production and prices for 2024, 2025 and 2026 were as follows:

Productivity in key wells declined due to unforeseen subsurface conditions that resulted in casing obstructions, restricting repair and maintenance activities. However, the original gas‑in‑place appears to remain unaffected. Average natural gas sales prices improved as the Company strengthened contract management practices.

These operational results are being disclosed within the Company's remedial filing plan in connection with the Company's failure-to-file cease trade order issued by the Ontario Securities Commission on May 7^th, 2025 (the "FFCTO").

Colombian Operations - Reorganization Under Law 1116

The Company's Colombian branch has emerged from the Proceso de Recuperación Empresarial ("PRES"), as regulated under Colombia Law 1116 of 2006 (as modified by Law 2437 of 2024), for insolvency protection, with a Reorganization Agreement (the "Agreement") that has been approved by more than 70% of all credit categories, including over 90% employee support. The Company's Colombian branch was additionally admitted to judicial validation of the Agreement before the Superintendencia de Sociedades (the Superintendency of Corporations) on October 23^rd, 2025. The Agreement contemplates a staggered repayment schedule, starting on the date of final judicial validation, of the different credit classes over 39 quarters (final maturity around 2034), with allowance for accelerated payments, should this be a possibility. Admittance to judicial validation of the Agreement grants the Company's Colombian branch the continuity of the protections provided by the PRES.

Venezuela Operations Joint Venture

As announced in its news release dated May 26^th, 2026, the Company continues to advance the previously disclosed proposed joint venture. The parties remain engaged in due diligence and negotiation of definitive documentation, and the Company will provide further updates as material developments occur.

Private Placement Financing and Cease Trade Order

As announced in its news release dated May 1^st, 2026, the Company continues to advance its previously announced non-brokered private placement financing (the "Financing") following issuance of a partial revocation order from the Ontario Securities Commission on April 23^rd, 2026. The proceeds and completion of the Financing, together with the Company's ongoing remedial filing efforts, are intended to support the full revocation of the FFCTO which currently prohibits all trading of the Company's securities. Completion of the Financing remains subject to customary conditions, including TSX Venture Exchange acceptance.

Drilling Capital and Insurance Claim

The Company is engaged in ongoing discussions with its insurers regarding the evaluation and potential resolution of an outstanding insurance claim in relation to its Colombian properties. These discussions contemplate a potential payout that, if realized, will provide funding to drill well(s) in its Colombian properties.

There can be no assurance that the proposed Agreement and/or joint venture will be completed on the terms contemplated, or at all, and of the outcome, quantum, or timing of any payout.

About LNG Energy Group

The Company is focused on the acquisition and development of oil and natural gas production and exploration assets in Latin America. For more information, please visit www.lngenergygroup.com.

For more information please contact:

Angel Roa, Chief Financial Officer LNG Energy Group Corp.
Website: www.lngenergygroup.com
Email: [email protected]

Find us on social media:
LinkedIn: https://www.linkedin.com/company/lng-energy-group-inc/
Instagram: @lngenergygroup
X: @LNGEnergyCorp

CAUTIONARY NOTE REGARDING FORWARD-LOOKING INFORMATION:

This news release contains "forward-looking information" and "forward-looking statements" within the meaning of applicable Canadian securities legislation. Forward-looking statements include, but are not limited to, statements regarding operational performance and corporate developments; the reorganization proceeding under Colombian Law 1116 (as modified by Law 2437 of 2024); discussions with insurers and the potential resolution of the insurance claim and any related funding; the completion of the Financing and the anticipated use of proceeds; the revocation of the FFCTO; and the proposed joint venture. Such statements are based on assumptions and estimates that management believes are reasonable as of the date hereof and are subject to known and unknown risks, uncertainties, and other factors that may cause actual results to differ materially. These risks include, among others, the outcome and timing of the insurer discussions; the ability to complete the Financing and obtain the full revocation of the FFCTO; the ability to negotiate and complete the proposed joint venture; completion of the proposed Reorganization Agreement; commodity prices; and regulatory and exchange approvals. Forward-looking statements are not guarantees of future performance, and undue reliance should not be placed on them. There can be no assurance that the initiatives and projects disclosed will be completed on the terms contemplated, or at all. The Company undertakes no obligation to update or revise any forward-looking statements except as required by applicable law.

Neither the 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 release.

SOURCE: LNG Energy Group Corp.

View the original press release on ACCESS Newswire

T.Murray--SMC