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Research Alert: Pou Q1: 2026 Production Guidance Raised, Alhambra Phase 2 Ahead Of Schedule

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CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:

POU reported Q1 2026 production of 48,255 Boe/d, up 3% from Q4 2025, with net income of CAD53.2M (CAD0.36/share) versus a Q4 2025 loss of CAD1.9M and adjusted funds flow rising to CAD143.4M from CAD140.1M. Netback expanded 22% to CAD35.22/Boe, lifted by higher commodity realizations, while the 16 Duvernay wells at Alhambra delivered strong 150-day peak production averaging 1,276 Boe/d per well. Management raised 2026 production guidance to 48k-52k Boe/d from 46k-51k Boe/d and reduced capex guidance by CAD50M to CAD1B-CAD1.1B. The Alhambra phase 2 expansion is substantially complete, with June 2026 start-up one month ahead of schedule. We believe the combination of the production guidance raise, netback expansion, and earlier Alhambra phase 2 timing is constructive, with Willesden Green plateau potential increased 40% to 70k Boe/d sustainable for over 20 years and 2027 exit production exceeding 100k Boe/d as Sinclair Montney development comes onstream.

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