JX ENERGY (03395) Announces First Three Quarters Results: Net Loss of Approximately CAD3.7092 Million, Narrowed by 75.59% Year-on-Year

JX ENERGY (03395) announced its results for the first nine months of 2026: total net revenue of approximately CAD6.9436 million, up 41% year-on-year; net loss of approximately CAD3.7092 million, narrowed by 75.59% year-on-year. The announcement stated that the reduction in loss was mainly attributable to a significant decrease in the write-off of exploration and evaluation (E&E) assets, together with a significant reduction in operating expenses for natural gas, natural gas liquids (NGL) and condensate during the period as the cost of the Jixing GHCA was reduced to zero, as well as an increase in natural gas production revenue and a decrease in depreciation, depletion and amortization (DD&A) expenses. Gains from the disposal of assets and an increase in net transaction income also helped to narrow the loss. The above improvements were partially offset by the following factors: increases in royalties, crude oil operating expenses and finance costs (including a foreign exchange gain in the same period of 2025 turning into a foreign exchange loss in 2026), as well as an increase in general and administrative expenses.