Lineup Resources Corp. (“Lineup” or the “Company”) has engaged Sayer Energy Advisors to assist the Company with the farmout or sale of its oil interests located in the Delmas and Unity areas of Saskatchewan (the “Properties”). The Company is seeking proposals for the Properties in order to focus its operations on its core assets.
The Properties are prospective for oil production from stacked Mannville zones which contain significant original oil in place, with low recovery factors and opportunities for horizontal development drilling.
At Delmas, Lineup holds a primarily 100% working interest in approximately 35 sections of land on which there are two horizontal oil wells. One well is currently producing from the Mannville Group. The Delmas property consists of 26 sections of Crown land, 3 sections of Freehold and 6 Fee sublease sections.
Delmas is prospective for further oil development from stacked formations of the Mannville Group. The Company has identified approximately 270 potential locations within 3 primary zones of interest on its land at Delmas, including the Rex, Sparky and Lloydminster zones. Additional prospective zones within the Mannville stack include the Cummings, GP and Dina. Total recoverable reserves are estimated at approximately 36 million barrels of oil.
At Unity, Lineup holds a 100% working interest in P&NG rights from surface to the top of the Precambrian in 5 sections of land. The Unity property is prospective for oil from stacked formations of the Mannville Group.
Further technical details on the Properties will be made available to parties that execute a confidentiality agreement.
Average daily production net to Lineup from Delmas for the quarter ended March 31, 2026 was approximately 15 bbl/d of oil.
As of March 6, 2026, the Delmas property had a deemed net asset value of $2.1 million (deemed assets of $2.2 million and deemed liabilities of $82,200), with an LMR ratio of 26.94.
McDaniel & Associates Consultants Ltd. (“McDaniel”) prepared an independent reserves evaluation of the Properties (the “McDaniel Report”). The McDaniel Report is effective December 31, 2025 using an average of GLJ Ltd., McDaniel, and Sproule ERCE’s forecast pricing as at January 1, 2026. McDaniel estimated that, as at December 31, 2025, the Delmas property contained remaining proved plus probable reserves of 21,000 barrels of oil, with an estimated net present value of $43,000 using forecast pricing at a 10% discount.
Summary information relating to this divestiture is attached to this correspondence. More specific information is available at www.sayeradvisors.com. A package of more detailed confidential information will be sent to any party executing a Confidentiality Agreement (copy attached).
Proposals relating to this process will be accepted until 12:00 pm on Thursday, May 7, 2026.
For further information please feel free to contact: Ben Rye, Sydney Birkett, or Tom Pavic at 403.266.6133