WESTGATE ENERGY PROVIDES OPERATIONAL UPDATE

CALGARY, ALBERTA, November 18, 2025 – Westgate Energy Inc. (“Westgate” or the “Company”) (TSXV:WGT), is pleased to provide an operational update following the completion of its latest drilling program in the Beaverdam area of Alberta.

Drilling Results

The Company has successfully completed its previously announced fall drilling program at its Beaverdam asset. The program included two vertical stratigraphic test wells and three horizontal wells targeting two Mannville Stack horizons. Due to a simplified well design, the Company was able to drill the three horizontal wells in an average of 6.7 days per well, leading to an average cost of $1.06MM per well. This represents an average reduction of 4 days per well and a 25% cost decrease on the drilling portion compared to the Company’s previous three well program.

All three horizontal wells encountered their respective target zones, and oil shows were observed in all three wells. Current operations include downhole completion and facility construction, with an expected on-stream date of mid-December for all three wells.

Management Commentary

We are very pleased with the strong results delivered by our second three-well program at Beaverdam. The stratigraphic test wells enhanced our geological mapping and inventory definition, providing high-value data that will directly inform and optimize the 2026 drilling program. Importantly, the fall 2025 program was executed under budget, reinforcing our commitment to disciplined capital allocation. Westgate looks forward to building on both our operational performance and cost efficiencies as we advance into 2026.

About Westgate

Westgate is focused on the emerging Mannville Stack fairway located in North-East Alberta and West Central Saskatchewan, a region with established medium and heavy oil accumulations. Producers in this fairway are increasingly unlocking these reservoirs with modern horizontal drilling and completion techniques, which have materially improved well performance and capital efficiency. Activity to date has delivered some of the strongest oil well economics in Western Canada.

For more information, please visit www.westgateenergy.ca.

For further information concerning Westgate Energy Inc., please contact:

Dan Brown
Chief Executive Officer and Director

Email: dbrown@westgateenergy.ca

Nick Grafton
Chief Financial Officer

Email: ngrafton@westgateenergy.ca

Phone: 403.984.6724

Reader Advisories

In this press release, all references to “$” are to Canadian dollars unless otherwise indicated. 

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Notice regarding forward-looking statements:

This press release includes forward-looking statements regarding Westgate and its business, which may include, but are not limited to: the construction of facilities at the new well locations, the expected timing that the new wells will be on production, the use of data from the stratigraphic test wells in relation to the Company’s 2026 drilling program, the Company’s focus on building on its operational performance and cost efficiencies and the characteristics of the Mannville Stack Fairway and the unique position of Westgate in respect thereof. Often, but not always, forward-looking statements can be identified by the use of words such as “plans”, “is expected”, “expects”, “scheduled”, “intends”, “contemplates”, “anticipates”, “believes”, “proposes” or variations (including negative variations) of such words and phrases, or state that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved. The forward-looking statements included in this press release are based on management’s current expectations and assumptions, including, but not limited to, the successful construction of facilities at the new well locations, the expected timing that the new wells will be on production, the Company’s ability to execute its business strategy and market conditions. Although the Company believes that the expectations and assumptions reflected in such forward-looking information are reasonable, they may prove to be incorrect. Forward-looking statements involve significant known and unknown risks and uncertainties. A number of factors could cause actual results to differ materially from those anticipated by the Company, including but not limited to, an increase in the time to construct facilities at the new well locations and bring such wells on to production, production from wells being less than anticipated, decreases in the price of oil and natural gas and changes in market conditions. Moreover, exploration, appraisal, and development of oil and natural gas reserves are speculative activities and involve a degree of risk. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. No forward-looking statement can be guaranteed. Except as required by applicable securities laws, forward-looking statements speak only as of the date on which they are made and the Company undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise, other than as required by law.

Neither the TSXV nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.