A TSXV Growth Stock's Big Impact on Europe's Energy Landscape

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By Patricia Miller


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Discover the TSXV growth stock strengthening Europe's energy security through responsible exploration and development of natural gas resources.

TSXV growth stock focussed on replacing natural gas and LNG, pipelines leading from LNG tanker.

MCF Energy Ltd. (TSXV: MCF) (OTCQX: MCFNF) (FRA: DC6), a TSXV growth stock, is delighted to announce its agreement to acquire oil and gas production and exploration licenses in the Czech Republic. This extends the company’s European reach with valuable reserves, and these Czech targets offer immediate production opportunities with the potential for further exploration.

MCF is deeply committed to strengthening Europe's energy security, and this latest move significantly reinforces this commitment.

The acquisition, nestled in the Vienna Basin of Czechia and surrounded by the majestic Carpathian Mountains, encompasses a substantial area dedicated to energy development. It includes three production licenses that span over 6,880 acres (27.8 square kilometers) and three exploration licenses covering a vast 42,551.5 acres (172.2 square kilometers).

The production licenses are NT Ridge, Krasna NP-823, and LM, and their strategic positioning opens up significant opportunities for energy exploration and production.

James Hill, CEO and Director of MCF Energy Ltd, commented:

 "This acquisition was driven by the opportunity to quickly start natural gas production by reopening three closed wells and using fifteen ready-to-drill sites in the NT Ridge area,

The main advantage of this project is the potential to boost production by shallow, low-cost drilling of nearby areas with available pipeline capacity."

MCF Energy aims to become a leading energy provider in Europe, driving economic growth and promoting a more sustainable energy future for generations to come.

Expanding Energy Frontiers

Spearheading the shift toward renewable energy in Europe, MCF Energy is investing in premier gas assets. The company holds a 25% interest in a significant gas prospect in Austria, the Welchau-1 well, that MCF is drilling now and is due to be complete by the end of March. Positioned near a pipeline, independent analyses suggest this asset has the potential to impact the region's energy landscape significantly.

MCF is also developing valuable gas assets in Germany, acquired through the purchase of Genexco GmbH. The Reudnitz area is known for its large gas reserves, proven by three earlier drilled wells. Additionally, MCF is exploring more potential sites in Germany.

Now this Czech acquisition means MCF Energy holds further production licenses for three key regional areas. There's also considerable unexplored potential in the oil-rich fractured basement, hinting at further opportunities for discovery and development.

Looking ahead, MCF Energy has concrete plans to enhance its production capabilities. Specifically aiming to reactivate a previously shut-in production well at NT Ridge in 2024. It also has five more development sites prepared for drilling at NT Ridge this year, alongside one potential drilling site. The company's forward-looking strategy also includes plans for at least three more drilling locations in 2025, underscoring its commitment to exploring and developing these valuable resources.

Independent Report Findings

The NT Ridge area was reviewed in an Independent Reserve report by Boury Global Energy Consultants. NT Ridge is located about 28 km southeast of Ostrava, the third largest city in the Czech Republic.

The report highlights that the NT Ridge area holds significant potential for MCF Energy, confirming 13 Proven Undeveloped and 2 Probable Undeveloped locations for development. These sites boast an estimated 11.9 billion cubic feet of confirmed reserves. Additionally, the financial assessment of these reserves presents an optimistic outlook, estimating their net present value before tax, with a 10% discount rate, at $53.55 million.

This, alongside MCF’s other production concessions, suggests substantial shareholder value. Meanwhile, Krasna NP-823, and the LM Production licences are currently under review. Both feature wells that can be reworked and returned to production at low cost.

MCF also intends to develop its Czech exploration licenses by using improved technology to continue the exploration work started by the previous operator.

From smallest to largest, the exploration licenses are Skalice-Ropice in the North, Moravka in the South, and Trinec in the North-East.

Here MCF plans on drilling Skalice-Ropice first, with four wells in 2025, five wells in 2026 and one in 2027. Nine of these locations have confirmed reserves, and the tenth has a fair to speculative chance of being successfully extracted.

Czech Deal Insights

The Czech Republic acquisition grants MCF Energy complete ownership of these Czech licenses, issuing 17.5 million shares and US$1,325,000 in cash to the seller, plus 350,000 shares to Fiore Management for advisory services.

The Czech assets will be part of MCF Energy Czechia Ltd., a fully-owned subsidiary of MCF Energy Ltd.

About MCF Energy

MCF Energy was established in 2022 by leading energy executives to strengthen Europe's energy security through responsible exploration and development of enormous hydrocarbon opportunities in the underexplored region. 

With profound knowledge of European energy and a solid history in capital markets, MCF Energy owns notable oil and gas prospects in Austria, Germany and now the Czech Republic. These prospects not only have a direct route to market but also include additional targets currently under application, promising further expansion and opportunities.

By reducing the amount of oil and gas it imports, the EU can save money, lessen its carbon footprint, and increase domestic security. MCF recognizes this and aims to develop a cleaner, cheaper, and more secure natural gas industry as a transition to renewable energy sources. 

Furthermore, MCF Energy has aligned its interests with shareholders and seeks opportunities to deliver growth.

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