Key Financial Data NG Energy International Corp. reported its first-quarter 2026 results. Sales of natural gas and liquefied natural gas reached $9.5 million, a 48% increase year-over-year, primarily driven by higher production and stable selling prices. The average realized natural gas price was $8.50 per thousand cubic feet (Mcf), up from $8.28 per Mcf in the same period last year.

Record Production Growth Average daily net production for the first quarter reached 12,413 Mcf per day, showing significant year-over-year growth. The Maria Conchita block contributed 8,227 Mcf per day, while the Sinu-9 block contributed 4,186 Mcf per day.

Balance Sheet Transformation and Liquidity In January 2026, the company completed a series of transactions with Maurel & Prom and minority shareholders of Sinu-9, receiving total cash consideration of $150 million, substantially strengthening its balance sheet. As of the end of the quarter, the company held $11.95 million in cash, with an additional $61.1 million in receivables. Of this, $31.1 million was received after quarter-end, with the remaining $30 million to be paid in two equal installments in June and July 2026. The outstanding debt with Macquarie was $23 million.

Significant New Gas Discovery Following the quarter-end, the Hechicero-1X well in Sinu-9 successfully commenced production, driven by the Pre-CDO–San Cayetano interval. Total block production reached the current technical limit of the pipeline capacity at 31.5 million cubic feet per day (MMcf/d). This production level represents approximately 3% of Colombia's national natural gas market. This newly discovered interval demonstrates greater exploration potential across the block and a wider area.

Operational Progress and Market Outlook The rig at Sinu-9 has been moved to the second well, Magico-2X, of a six-well program, continuing to target the Pre-CDO–San Cayetano interval. At Maria Conchita, the Aruchara-5 well has been drilled to a total depth of 9,097 feet, with all target intervals showing positive results. Connection to the central processing facility is anticipated by the end of May. Pipeline transportation capacity at Sinu-9 is expected to expand to 40 MMcf/d by June 2026, with the potential to reach 90 MMcf/d by year-end. Infrastructure for 30 MMcf/d is already in place at Maria Conchita.

Capital Markets Milestone On April 30, 2026, the company successfully graduated from the TSX Venture Exchange to list on the TSX main board under the symbol GASX. Management plans to apply for a normal course issuer bid in the coming days, believing the current share price does not reflect the fundamental value of the company's assets and growth prospects.

CEO Jorge Fonseca stated that the first quarter laid the foundation for an "extraordinary year of growth" in 2026. The new gas discovery, strong financial backing, and infrastructure expansion provide the company with the potential to demonstrate the true scale of its Colombian natural gas assets.