MCF Energy Ltd. over the past 12-months, has demonstrated unwavering commitment to establishing a robust portfolio of natural gas weighted exploration prospects. The Company's strategic vision centers on harnessing the vast potential of European energy resources, contributing to regional energy security and sustainable economic growth. Operational Update: Granting to ADX Energy Inc. ("ADX") an extension from September 30th to December 31st 2023 to drill the Welchau prospect in Austria.

Delay caused by the final environmental permit, is expected by the operator ADX, to be granted around October 31st; Filing for the Permit to Drill from the Bavarian Mining Authority for the Kinsau 1A re-drill of the Lech discovery well. Final Permit to Drill is expected to be granted in the fourth quarter of 2023; Granting of the permit to re-work and test the Reudnitz Z2 MCF Energy horizontal well in the Reudnitz Gas field, 100% owned by MCF Energy. The reworking and testing operations are scheduled to begin at the end of October 2023.