• Magico-2X, the second well of the six-well 2026 drilling program at Sinú-9, was spudded on June 26, 2026, primarily targeting the newly discovered Pre-CDO–San Cayetano formation.
• INFRAES pipeline loop to Jobo has been completed; commissioning activities at the Jobo and Guayabal facilities are underway over the coming weeks, expected to increase transportation capacity at Sinú-9 to 40–45 MMcf/d gross (15.6–17.6 MMcf/d net).
• Hechicero-1X has tested at rates of up to 26.4 MMcf/d gross (10.3 MMcf/d net) from the Pre-CDO–San Cayetano zone, with M&P Colombia managing the well at a sustainable rate of approximately 15 MMcf/d gross (5.85 MMcf/d net) consistent with sound reservoir management practices.
• Current production at Sinú-9 is approximately 17.5 MMcf/d gross (6.8 MMcf/d net).
• Total field production at Maria Conchita is currently approximately 14.8 MMcf/d gross (11.8 MMcf/d net), with current infrastructure supporting up to 30 MMcf/d gross (24.0 MMcf/d net) of processing and transportation capacity.
• The Company's next development well at Maria Conchita, Aruchara-6, is expected to spud immediately following the completion of the ongoing Aruchara-1 workover, which is expected to be completed by July 10, 2026.
• The Company received the US$15 million instalment payment from Etablissements Maurel & Prom S.A. due in June 2026, bringing total cash received from the M&P Transaction to approximately US$135 million to date.

NG Energy International provides an operational update on activities at its Maria Conchita and Sinú-9 Blocks in Colombia. The Company’s working interests in the Maria Conchita Block and the Sinú-9 Block are held through Operadora NG Energy Sucursal en Colombia (formerly, MKMS Enerji Sucursal Colombia) (“Operadora Colombia”), the Colombian branch of the Company’s indirect wholly-owned subsidiary, Operadora NG Energy International, S.A. (formerly, MKMS Enerji Anonim Sirketi S.A.) (“Operadora”).

Sinu-9 Block

The Magico-2X well – the second well of the current six-well drilling program at Sinú-9 operated by Maurel & Prom Colombia Sociedad Limitada (“M&P Colombia”) – was spudded on June 26, 2026, with the Pre-CDO–San Cayetano formation as its primary target. The well is designed with three sections (16 inch, 12-1/4 inch and 6-3/4 inch) to a total measured depth of 7,500 feet. Drilling and completion of the well is expected to take approximately 35 days, with the well to be connected to the central processing facility for production thereafter.

Magico-2X’s focus on the Pre-CDO–San Cayetano formation follows the strong deliverability demonstrated at the Hechicero-1X well, which has tested at rates of up to 26.4 MMcf/d gross (10.3 MMcf/d net) from this zone – the newly discovered formation that has opened a wider area for natural gas presence at this stratigraphic level across the Sinú-9 Block. Following this testing, M&P Colombia has determined to manage the well at a sustainable production rate of approximately 15 MMcf/d gross (5.85 MMcf/d net) from the Pre-CDO–San Cayetano zone, consistent with sound reservoir management practices to protect the long-term performance and integrity of the well.

The initial pipeline loop to Jobo, constructed by the Company's infrastructure partner INFRAES S.A.S. E.S.P., has been completed. Mechanical commissioning activities at the Jobo and Guayabal facilities are underway over the coming weeks and are expected to increase transportation capacity at Sinú-9 from its current 30 MMcf/d gross (11.7 MMcf/d net) to between 40 and 45 MMcf/d gross (15.6 to 17.6 MMcf/d net).

Current production at Sinú-9 is approximately 17.5 MMcf/d gross (6.8 MMcf/d net).

María Conchita Block

Total field production at Maria Conchita is currently approximately 14.8 MMcf/d gross (11.8 MMcf/d net). The Maria Conchita Block benefits from current infrastructure supporting up to 30 MMcf/d gross (24.0 MMcf/d net) of processing and transportation capacity.

The next development well at Maria Conchita, Aruchara-6, is expected to spud immediately following completion of the ongoing Aruchara-1 workover. Workover operations at Aruchara-1 commenced on June 15, 2026, and are expected to be completed by July 10, 2026, targeting the isolation of currently produced zones, the opening of new zones, the deployment of sand control equipment, characterization of upper intervals, and recompletion of the well. Civil works at the Aruchara-6 location are expected to commence during the coming week, with the drilling rig to be mobilized to the well immediately following completion of the Aruchara-1 workover.

M&P Transaction Update

The Company has received the US$15 million instalment payment from Etablissements Maurel & Prom S.A. due in June 2026 in connection with the Sinú-9 Transactions (see Company news release dated January 6, 2026), bringing total consideration received on the transaction to approximately US$135 million to date. The remaining US$15 million instalment is expected to be received in July 2026, which will bring total consideration received on the transaction to the full US$150 million.

Jorge Fonseca, CEO of NG Energy, commented: 
“We are pleased that M&P Colombia, as operator of the Sinú-9 Block, delivered the spud of Magico-2X on schedule, targeting the Pre-CDO–San Cayetano formation as its primary target. Hechicero-1X has already demonstrated the strength of this zone, testing at rates of up to 26.4 MMcf/d gross and now sustaining steady production at 15 MMcf/d – exactly why we believe Pre-CDO–San Cayetano has the potential to be a key driver of production growth across the Sinú-9 Block as the six-well campaign advances. Combined with the completion of the INFRAES pipeline loop to Jobo, we are positioning the block for a meaningful step-up in takeaway capacity as commissioning progresses over the coming weeks. At Maria Conchita, our team is advancing the Aruchara-1 workover ahead of spudding Aruchara-6, our next development well at the block. It is a productive period across both of our assets, and we look forward to providing further updates as this work progresses.”

KeyFacts Energy: NG Energy Colombia country profile