Mr. James Hill reports

MCF ENERGY PROVIDES UPDATE ON CZECH OPERATIONS

MCF Energy Ltd. has provided an update on current and planned operations in the Czech Republic.

The company is actively pursuing the commencement or restoration of gas production at its NP-823, LM-3 and NT-2 wells.

NP-823 well reactivation: The NP-832 well is anticipated to be reactivated following inspection, testing and installation of a dehydration unit. The on-production date for NP-823 is estimated to be Jan. 15, 2025.

LM-3 well production: Production at the LM-3 well will be monetized by generation of electricity and eventually compressed gas transport. The company is working with its electricity offtaker to finalize installation of the necessary production and generation equipment, with the offtaker bearing the capital expenses. The electricity offtaker arrangements result in a 2025 gas price equivalent of $8 (U.S.) per thousand cubic feet. The company anticipates commencement of production by mid-March, 2025.

NT-2 well reactivation: Well site and wellhead inspection, testing and maintenance operations are under way, following which workover operations will commence to assess the well's productive capacity in first quarter 2025.

James Hill, chief executive officer and director of MCF Energy, stated: "We continue to move forward to re-establish production on our Czech assets. Some minor delays have occurred, but good progress is being made with first cash flow in [first quarter] of 2025."

About MCF Energy Ltd.

MCF Energy was established in 2022 by leading energy executives to strengthen Europe's energy security through responsible exploration and development of natural gas resources within the region. The company has secured interests in several significant natural gas exploration projects in Austria and Germany with additional concession applications pending. MCF Energy is also evaluating additional opportunities throughout Europe. The company's leaders have extensive experience in the European energy sector, and are working to develop a cleaner, cheaper and more secure natural gas industry as a transition to renewable energy sources. MCF Energy is a publicly traded company and headquartered in Vancouver, B.C.

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