Oregen Energy Corp. Reports Significant Cost Reductions and Strategic Positioning
News provided byOregen Energy Corp · 2 min read
Vancouver, British Columbia, September 4, 2026, Oregen Energy Corp. (CSE: ORNG, OTCQB: ORGEF, FSE: A1S0) has announced its financial results for the second quarter of 2026, highlighting substantial cost reductions and strategic positioning in the Orange Basin of Namibia.
The company’s interim consolidated financial statements and Management’s Discussion and Analysis (MD&A) for the period ending June 30, 2026, show a marked improvement in operational efficiency. Total operating expenses decreased by 85% to $163,607 in the three months ended June 30, 2026, from $1,102,151 in the same period last year. For the first half of 2026, operating expenses dropped by 67% to $532,479, compared to $1,608,314 in the corresponding period of 2025.
These cost reductions are part of the company’s strategic efforts to streamline operations. Kevin Shrimpton, Interim CEO, highlighted the significant impact of internalizing corporate management functions and reducing advisory transaction overhead following the acquisitions of NamLith and Oranam. “Oregen executed focused capital discipline while restructuring and streamlining our administrative cost profile,” said Shrimpton. “By sharply cutting non-essential corporate burn and rationalizing administrative overhead, we have positioned the Company with a significantly leaner cost footprint.”
The company’s financials also reflect a decrease in net loss. Comprehensive net loss for the second quarter of 2026 was reduced by 68% to $363,688, or $0.01 per share, compared to $1,141,804, or $0.04 per share, in the same period last year. For the first half of 2026, the net loss decreased by 49% to $833,835, down from $1,645,963 in the prior period.
Oregen maintains a 48.5% equity stake in WestOil Limited, which holds a 70% working interest (33.95% net to Oregen) in Block 2712A (PEL 107) in Namibia’s Orange Basin. The basin, known for its prolific hydrocarbon resources, has seen significant exploration activity by major international oil companies such as Galp, TotalEnergies, Shell, and Rhino/BP-ENI.
To further enhance its position in the Orange Basin, Oregen has entered into a non-binding Letter of Intent (LOI) to evaluate a strategic investment in Petrovena Energy (Pty) Ltd. This move aligns with the company’s strategy to build a concentrated portfolio with exposure to multiple high-impact exploration opportunities.
Shrimpton added, “We remain focused on the tremendous potential within our interest in Block 2712A and 2812Ab in Namibia’s Orange Basin. With a revitalized board, top-tier technical guidance, and continued corporate discipline, Oregen is focused on unlocking shareholder value through our core offshore holding and new strategic energy opportunities.”
Oregen Energy Corp. is a Canadian-listed energy investment company with a primary focus on Africa. Through its 48.5% interest in WestOil Limited, it controls a 33.95% net working interest in Block 2712A, covering an area of 5,484 square kilometers in Namibia’s world-class Orange Basin.
Oregen also encourages investors to explore its social media channels for updates and insights: X (formerly Twitter): https://x.com/oregenenergy LinkedIn: https://www.linkedin.com/company/oregenenergycorp/ YouTube: https://www.youtube.com/@OregenEnergy Facebook: https://www.facebook.com/oregenenergy/