CALGARY, AB, May 25, 2023 /CNW/ – Lycos Energy Inc. (“Lycos” or the “Company“) (TSXV: LCX) is pleased to announce its operating and financial results for the three months ended March 31, 2023. Selected financial and operating information is outlined below and should be read with Lycos’ unaudited financial statements and related management’s discussion and analysis (“MD&A“) for the three months ended March 31, 2023, which are available at sedar.com and www.lycosenergy.com.

Financial and Operating Highlights

               Three months ended

                  March 31,

($ in thousands, except per share)

2023

2022

Petroleum and natural gas sales, net of … Continue Reading

CALGARY, AB, May 19, 2023 /CNW/ – Carbon Infrastructure Partners Corp. (“CIP“) as advisor to the general partners of each of CIP Energy Fund 1-A LP (“Fund 1-A“) and JOG Limited Partnership No. VI (“Fund VI“, and collectively with Fund 1-A, the “Funds“) announces that the Funds acquired an aggregate of 47,321,428 common shares (“Common Shares“) and 3,571,428 Common Share purchase warrants (each a “Lycos Warrant“) of Lycos Energy Inc. (“Lycos“), representing approximately 14.9% of the issued and outstanding Common Shares of the Lycos (approximately 15.8% assuming exercise of all Lycos Warrants held by the Funds).

The Funds acquired … Continue Reading

CALGARY, AB, April 27, 2023 /CNW/ – Lycos Energy Inc. (“Lycos” or the “Company“) (TSXV: LCX) is pleased to announce its operating and financial results for the three months and year ended December 31, 2022 and the results of Lycos’ year-end independent oil and gas reserves evaluation as of December 31, 2022 (the “Reserve Report”), prepared by Sproule Associates Limited (“Sproule”), the Company’s independent qualified reserves evaluator.  Selected financial, operating and reserves information is outlined below and should be read with Lycos’ audited annual consolidated financial statements and related management’s discussion and analysis (“MD&A”) for the three months and … Continue Reading

CALGARY, AB, April 3, 2023 /CNW/ – Lycos Energy Inc. (“Lycos” or the “Company“) (TSXV: LCX) is pleased to provide an operations update, 2023 guidance and personnel updates.

CALGARY, AB, March 1, 2023 /CNW/ – Lycos Energy Inc. (“Lycos” or the “Company“) (TSXV: LCX) is pleased to announce the addition of 1,500 boe/d (100% oil) production and 1,808 Mboe of producing reserves(1) in the Lloydminster area (the “Assets”). Lycos’ total current production is now over 2,700 boe/d (99% oil).

Lycos completed the Acquisition(2) on February 28, 2023 for a purchase price consisting of $50.0 million in cash and the grant of a 3% gross overriding royalty to the former ownership group (the “GORR”) on any newly drilled wells on the acquired lands.

The Assets substantially … Continue Reading

CALGARY, AB, Jan. 25, 2023 /CNW/ – Lycos Energy Inc. (“Lycos” or the “Company“) (TSXV: LCX) is pleased to announce that as a part of the Company’s long term incentive program, and pursuant to the terms and conditions of its stock option plan, the Lycos board of directors has approved the grant of 11,945,000 stock options to certain directors and officers. The options expire five years from the date of the grant and are exercisable at a price of $0.55 per common share. The options vest as to one-third on each of the first, second and third anniversary of … Continue Reading

CALGARY, AB, Jan. 16, 2023 /CNW/ – Lycos Energy Inc. (“Lycos” or the “Company“) (TSXV: LCX) is pleased to provide an operational update and announce a new $20.0 million senior-secured credit facility with the National Bank of Canada (the “Lender“). 

Lycos is extremely optimistic about the results of its first multi-leg “fishbone” well drilled at 08-33-043-22W3.  This 100% working interest well has been on production since late November 2022.  The well achieved an average 30-day production (“IP30”) rate of 149 boe/d and is currently producing 150 boe/d (100% oil).  At recent strip pricing of USD 50$/bbl WCS, … Continue Reading