Cancambria Energy increases Kiskunhalas project value to $2.04 billion

Cancambria Energy has announced an upward revision of the net present value (NPV10) for its Kiskunhalas tight-gas project in Hungary. An updated independent resource assessment by Chapman Hydrogen and Petroleum Engineering has increased the project's estimated value by 16 percent, rising from 1.762 billion USD to 2.04 billion USD.

The valuation is based on a conservative long-term TTF gas price assumption of 12 USD per MMBtu, which is approximately 40 percent below current market spot prices. Despite this conservative pricing, the project's value increased significantly due to the high sensitivity of the asset to European gas price fluctuations.

The underlying resource estimates remain unchanged at 571.9 billion cubic feet of gas and 59.6 million barrels of condensate equivalent. CEO Dr. Paul Clarke noted that the Kiskunhalas project is well-positioned to benefit from Europe's increasing focus on secure, domestic energy supplies following shifts in the geopolitical landscape.