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Wednesday, May 13, 2026

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ReconAfrica Progresses Toward Kavango West 1X Production Test

Reconnaissance Energy Africa Ltd. (TSXV: RECO, OTCQX: RECAF) announced continued progress of its operations in Namibia, specifically at the Kavango West 1X (KW1X) well. The company, along with partners NAMCOR and BW Energy, is conducting a first-of-its-kind production test in Namibia, testing six optimized zones across 420 metres of hydrocarbon bearing intervals. Production testing is expected to commence before the end of May and could take up to 60 days, with results anticipated by mid-to-late-July. ReconAfrica holds petroleum licences and access to approximately 13 million contiguous acres in Namibia, Angola, and Botswana, and operates 1,214 KM 2 in the Ngulu block offshore Gabon.

Rain City Resources Inc. Announces Strategic Alliance with Fraunhofer Chile to Advance Its Next-Generation DLE Platform Across the Lithium Triangle

Rain City Resources Inc. (CSE: RAIN) announced a strategic collaboration with Fundación Fraunhofer Chile Research to strengthen its technical, metallurgical, and commercial platform across the Lithium Triangle, focusing on Argentina, Bolivia, and Chile. The agreement supports the advancement of Rain's next-generation Direct Lithium Extraction (DLE) technology, which is designed for very low or near-zero water consumption and improved process efficiency. The Memorandum of Agreement (MoA) establishes a framework for collaboration in technology validation, process optimization, pilot development, renewable energy integration, and sustainability assessment. The collaboration aims to reinforce Rain's position in the region and contribute to more efficient, scalable, and sustainable lithium development in South America. The parties have also committed to move toward binding project agreements and concrete collaborative programs within a defined post-signing implementation period.

Hemisphere Energy Declares Quarterly Dividend, Announces 2026 First Quarter Results and Provides Guidance Update

Hemisphere Energy Corporation (TSXV: HME, OTCQX: HMENF) announced a quarterly cash dividend of $0.025 per common share, payable on June 26, 2026 to shareholders of record as of June 12, 2026. For the first half of 2026, the company will have paid total dividends of $0.11 per common share. In Q1 2026, Hemisphere reported quarterly production of 3,811 boe/d (99% heavy oil), revenue of $25.4 million, and adjusted funds flow from operations of $12.7 million. The company exited the quarter with no bank debt and positive working capital of $13.9 million. Guidance for 2026 includes annual production of 3,900 boe/d and adjusted funds flow of $40–$78 million depending on oil prices.

CHARBONE Releases Updated Presentation and Fact Sheet

CHARBONE CORPORATION (TSXV: CH; OTCQB: CHHYF) released updated investor materials highlighting its expanding portfolio of clean UHP hydrogen production plants and regional supply hubs across Canada, the United States, and Asia-Pacific. The materials detail the company's modular, demand-driven approach to deploying up to 16 hydrogen projects, with flagship operations in Sorel-Tracy, Quebec, and new projects advancing in Detroit, Michigan, Wisconsin, and Malaysia. Key market data includes a projected global UHP gas market growth from US$37.5 billion in 2025 to US$52.8 billion by 2030, and global hydrogen demand reaching nearly 100 million tons in 2024. The company emphasizes its recurring revenue model, strategic partnerships, and commitment to supporting the global transition to a lower-carbon economy.

Lightbridge and Studsvik Partner on Next-Generation Fuel Product Software

Lightbridge Corporation (NASDAQ: LTBR), an advanced nuclear fuel technology company, and Studsvik Scandpower, Inc. have entered into a partnership to develop an extension of the Studsvik CMS5 Core Management Suite to model the new Lightbridge Fuel™ design. The partnership aims to provide the commercial nuclear sector with a software package for light water reactors (LWRs) that is fully supported by Studsvik's state-of-the-art software. Lightbridge is developing a next-generation nuclear fuel design to improve the economics, safety, and proliferation resistance of existing and new reactors. Studsvik has over 75 years of experience in nuclear technology and employs approximately 540 people across 7 countries. Lightbridge has entered into two long-term framework agreements with Battelle Energy Alliance, LLC, and has been awarded twice by DOE’s Gateway for Accelerated Innovation in Nuclear program.

LIFT Intersects 26 m at 1.29% Li2O at its BIG East pegmatite, Yellowknife Lithium Project, NWT

Li-FT Power Ltd. reported results from its 2026 winter drill program at the Yellowknife Lithium Project (YLP) in Northwest Territories. The program included 17 drill holes totaling 4,778 m, with highlights such as 26 m at 1.29% Li2O (including 17 m at 1.65% Li2O) and 10 m at 1.12% Li2O. The current mineral resource estimate for YLP is 50.4 million tonnes at 1.00% Li2O for 506,000 tonnes of Li2O (1.25 million tonnes of LCE) in the inferred category. The results confirm continuity of mineralization at depth and support localized expansion of the resource base at BIG East.

Arrow Announces Exploration Well IC-1 Log Results

Arrow Exploration Corp. announced the successful drilling and log analysis of the Icaco 1 exploration well (IC-1) on the Tapir Block in the Llanos Basin of Colombia, where Arrow holds a 50 percent beneficial interest. The well was drilled on time and under budget to a total measured depth of 7800 feet (7524 feet true vertical depth) and encountered multiple hydrocarbon-bearing intervals, including 30 feet of pay in the Carbonera C7 formation, 15 feet in the Gacheta formation, and 26 feet in the Ubaque formation. Arrow plans to production test the IC-1 well in these three formations and will provide production testing results after tests and clean up are completed over the coming weeks. The company has now drilled five successful exploration wells in the Tapir Block, resulting in 40 development wells, demonstrating significant value additions. These results are better than anticipated and highlight the hydrocarbon density of the Tapir Block.

Anson Resources and POSCO to Develop DLE Demo Plant at Green River Lithium Project

Anson Resources (ASX: ASN) and POSCO Holdings have approved terms for a binding agreement to develop a direct lithium extraction (DLE) demonstration facility at the Green River lithium project in Utah. POSCO will fund, engineer, construct, operate, and maintain the plant, while Anson will provide access to property, infrastructure, and brine supply. Anson will receive a $7.2 million facilitation fee, and a definitive agreement is expected by mid-year. The plant is scheduled to start operations in 2027. This partnership aims to validate lithium extraction at industrial scale and explore further business cooperation.

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