BluEnergies Taps U.S. Market with OTCQX Listing to Fund Global Plays

VANCOUVER, BC – March 30, 2026 – Canadian oil and gas explorer BluEnergies Ltd. has made a significant strategic move to broaden its financial horizons, announcing today that its common shares have commenced trading on the OTCQX Best Market in the United States under the ticker symbol BLUGF.

This U.S. listing complements the company's existing presence on Canada's TSX Venture Exchange (TSXV), where it continues to trade under the symbol BLU. The dual-listing strategy is designed to unlock access to the deep and diverse U.S. capital markets, a critical step for a junior exploration company with ambitious, capital-intensive projects spanning from the deep waters of West Africa to the shallow Gulf of America.

A Strategic Play for U.S. Capital

The primary driver behind the OTCQX listing is to enhance share liquidity and attract a wider array of American institutional and retail investors. For companies in the high-stakes world of oil and gas exploration, securing a stable and accessible funding pipeline is paramount.

"This dual-trading is expected to enhance liquidity, attract a wider range of institutional and retail investors, and strengthen our presence in the U.S. capital markets," commented CEO Craig Steinke in a public statement. He added that the listing provides an "excellent platform to showcase our strategy for building enduring shareholder value through ongoing exploration activities in the Harper Basin, Liberia."

This move is particularly timely. While the company's balance sheet is considered low-risk, regulatory filings from mid-2025 included an auditor's note regarding a "Going Concern" doubt, a standard flag for development-stage companies highlighting their reliance on future funding for continued operations. By gaining a foothold in the world's largest investment market, BluEnergies aims to solidify its financial foundation and ensure it has the capital necessary to pursue its exploration programs.

What the OTCQX 'Best Market' Badge Means for Investors

For potential U.S. investors, the move to the OTCQX is significant. The OTCQX is the highest tier of the OTC Markets Group, and companies trading on this platform must meet stringent criteria that set them apart from stocks on lower-tier over-the-counter markets. To qualify, BluEnergies had to demonstrate compliance with high financial standards, adhere to best-practice corporate governance, and maintain current disclosures.

This vetting process provides a layer of transparency and credibility, giving investors access to real-time Level 2 quotes and verified financial reporting through the OTC Markets website. The standards required by OTCQX help to filter out speculative shell companies and signal that a company is committed to robust corporate governance, a key consideration for institutional and retail investors alike.

While an OTCQX listing doesn't carry the same weight or guaranteed liquidity as a major exchange like the NYSE or Nasdaq, it represents a substantial upgrade in visibility and regulatory compliance. It provides U.S. investors a more trusted and streamlined pathway to invest in international companies like BluEnergies without the complexities of trading on a foreign exchange.

Fueling High-Stakes Exploration from Africa to the Gulf

The capital sought through this new listing is earmarked for two distinct but complementary high-potential exploration projects.

First is the company's flagship project in the deep waters offshore Liberia. BluEnergies holds a 35% interest in a partnership with French energy giant TotalEnergies (65% interest) to explore a massive 8,924 square kilometer area in the Harper Basin. This region is part of the West Africa Transform Margin, a geological zone known for successful basin-floor fan plays. The joint venture is currently engaged in an 18-month work program that includes advanced reprocessing of over 6,000 square kilometers of 3D seismic data. The goal is to better define and de-risk seven large prospects previously identified by BluEnergies, potentially paving the way for production sharing contracts and future drilling.

The partnership with an industry supermajor like TotalEnergies, which recently secured adjacent blocks, lends significant technical and financial credibility to the project and signals renewed industry confidence in Liberia's offshore potential.

Balancing this high-impact deepwater play, BluEnergies recently diversified its portfolio by acquiring a 100% working interest in the Crown Royal prospect in the shallow waters of the Gulf of America, offshore Louisiana. This 5,000-acre block, known as SS-59, contains a previously discovered oil and gas channel complex. A well drilled by Texaco in 1987 successfully tested at rates of nearly 1,400 barrels of oil per day, but the discovery was not developed due to low commodity prices and the limitations of 2D seismic data at the time.

With modern 3D seismic technology and a more favorable price environment, BluEnergies believes this shallow-water asset represents a lower-risk, high-potential opportunity that complements its frontier exploration in Africa. This two-pronged strategy—balancing a high-reward deepwater play with a historically proven, lower-risk shallow-water asset—is designed to create a more resilient and appealing investment profile.

Navigating a Competitive Energy Landscape

BluEnergies' dual-listing strategy is a well-trodden path for Canadian junior resource companies seeking to compete on a global scale. With a market capitalization of just over C$67 million, access to the deeper pools of U.S. capital is not just an advantage but a near necessity for funding multi-million-dollar exploration campaigns.

The company is now positioned to more effectively communicate its story to a new audience of investors. The focus will be on the significant de-risking of its Liberian asset through the TotalEnergies partnership and the near-term potential of its Louisiana acquisition. The next major catalyst for the company and its investors will be the delivery of the reprocessed seismic data for the Harper Basin. The results from this advanced analysis, expected in the third quarter of 2026, will be a critical determinant in validating the prospects and shaping the next phase of exploration in the promising basin.