MCF Energy Ltd. announced the successful acquisition of a substantial multi-zone oil and natural gas exploration concession spanning approximately 87 km² in Western Germany, granted on September 18, 2023, by the Hessen Ministry of Environment, Climate, and Energy, through its mining authority granted for an initial term of three years. The multi-zone potential of this concession is pervasive across the full stratigraphy of the Pechelbronn formation, across the upper, middle, and lower beds. MCF Energy has acquired the available 2D and is in the process of obtaining the 3D seismic data.

The 2D data is currently reprocessing for further interpretation and analysis. Additionally, MCF Energy will perform its own AI and machine-learning analysis to further supplement and de-risk its geological and geophysical analysis. Locally, activities focused on geothermal development have further corroborated the energy development potential within this concession.

MCF Energy endeavours to collaborate with various regional stakeholders focused on sustainable energy security and independence.