On February 10, 2026, FTI Consulting Canada Inc. (the “Receiver”) was appointed receiver and manager of Halo Exploration Ltd. (“Halo” or the “Company”) pursuant to an order of the Court of King’s Bench of Alberta. Halo is a private, Alberta-based junior exploration and production company holding a 100% working interest in a large, contiguous land position in the Kaybob Montney and Duvernay light oil fairways (January production of 379 boe/d).  

The Company’s asset base includes existing production, a significant undeveloped drilling inventory, and approximately $134 million of tax pools. In addition, Halo’s Duvernay lands qualify under Alberta’s Emerging Resources Program (“ERP”), providing meaningful royalty incentives that materially enhance project economics. The ERP framework reduces initial royalty burdens and accelerates capital payout on new Duvernay wells, significantly improving netbacks, capital efficiency, and full-cycle returns. 

Halo has established a substantial, development ready resource across multiple benches that has been delineated and technically derisked. With scalable Montney development and oil-weighted Duvernay upside enhanced by ERP-linked royalty benefits, the Company is positioned to generate strong free cash flow and deliver organic growth under an optimized capital program.

PDP reserves are valued at $7.1MM BT (NPV10) with 420 identified drilling locations.

Interested parties are invited to review the SISP Materials. To receive access to the virtual data room, a signed copy of a non-disclosure agreement must be completed and returned to the Receiver via email at [email protected].

Phase 1 Non-binding bids must be received on or before 12:00 pm MT on March 27, 2026.