The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014, which forms part of UK law by virtue of the European Union ("Withdrawal") Act 2018 ("MAR"). Upon the publication of this announcement via Regulatory Information Service ("RIS"), this inside information is now considered to be in the public domain.

Corpus Resources Plc

("Corpus" or the "Company")

Unaudited Half-Year Results for the Six Months Ended 30 June 2026

24 August 2026

Corpus Resources plc (LSE: COR), the natural resources company, whose ordinary shares are admitted to the equity shares (transition) category of the Official List and to trading on the Main Market of the London Stock Exchange, announces its unaudited half-yearly results for the six months ended 30 June 2026 (the "Interim Report").

CHAIRMAN'S STATEMENT

I am pleased to present the Interim Report for the Company, covering its results for the six months ended 30 June 2026.

Financial Review

The Company recorded a loss for the six months ended 30 June 2026 of US$246,413, compared with a profit of US$3,862,016 for the corresponding period in 2025. The comparative profit arose principally from non-cash creditor write-backs, following completion of the Company Voluntary Arrangement and is therefore not indicative of the Company's underlying cost and trading performance in 2025. After a foreign-currency translation gain of US$5,424, the total comprehensive loss for the period was US$240,989.

The loss principally comprised administrative, professional and listing-related expenses. Basic and diluted loss per share was US$0.0001 (six months ended 30 June 2025: earnings per share of US$0.002).

Cash and cash equivalents at 30 June 2026 were US$266,343, compared with US$37,172 at 31 December 2025.

In April 2026, the Company raised gross proceeds of £311,000, before expenses, through a placing of 3,110,000,000 new ordinary shares at 0.01 pence per share, announced on 23 April 2026. The shares were issued on 23 April 2026 and admitted to trading on 30 April 2026. Net proceeds were US$387,856.

The Board continues to manage expenditure carefully, and payment of Directors' remuneration remains deferred. The Company will require additional funding to meet its continuing operating and listing costs and to progress any potential transaction.

Outlook

The Board's objective is to give Corpus exposure to oil and gas production and cash flow. The Company is evaluating several opportunities in the sector, with a preference for producing and near-production assets, for non-operated interests alongside established operators, and for assets with existing infrastructure and established routes to market, where execution risk is lower. The Board favours transactions that can be acquired or funded in stages, so that capital is committed as milestones are met, and that offer a credible route to production, reserves or cash flow. Each opportunity is assessed against the same technical, commercial, legal and financial criteria, and the Board will only proceed on terms that treat existing shareholders fairly.

All of these discussions and evaluations are preliminary and non-binding. The Company has not entered into any binding commitment, and there can be no certainty that any transaction will be agreed or completed, or as to the terms or timing of any transaction. The Company will make further announcements as and when required, including in accordance with its disclosure obligations under the UK Market Abuse Regulation.

On behalf of the Board, I thank our consultants and advisers for their work during the period, and our shareholders for their continued support.

Richard Glass

Non-Executive Chairman

For further information please contact:

Consolidated Statement of Comprehensive Income

The accompanying notes are an integral part of this consolidated financial information.

This consolidated financial information has been approved by the Company's Directors.

Consolidated Statements of Financial Position

The accompanying notes are an integral part of this consolidated financial information.

This consolidated financial information has been approved by the Company's Directors.

Consolidated Statements of Changes in Equity

The accompanying notes are an integral part of this consolidated financial information.

This consolidated financial information has been approved by the Company's Directors.

Consolidated Statement of Cash Flows

The accompanying notes are an integral part of this consolidated financial information.

This consolidated financial information has been approved by the Company's Directors.

NOTES TO THE CONSOLIDATED FINANCIAL INFORMATION

1.     General Information and Basis of Preparation

The Company was incorporated and registered in England and Wales as a public limited company. The Company's registered number is 09976843 and its registered office is at 6^th Floor, 99 Gresham Street, London, United Kingdom, EC2V 7NG. On 4 October 2017, the Company's shares were admitted to the Official List (by way of Standard Listing) and to trading on the London Stock Exchange's Main Market.

The Company's ordinary shares were admitted to the Official List (by way of a standard listing) and to trading on the Main Market of the London Stock Exchange on 4 October 2017. Following the introduction of the UK Listing Rules on 29 July 2024, the Company's ordinary shares are admitted to the equity shares (transition) category of the Official List. The Company is subject to the UK Listing Rules and the Disclosure Guidance and Transparency Rules of the Financial Conduct Authority.

The principal activity of the Company is focused on identifying and acquiring interests in the natural resources sector, with a current focus on oil and gas opportunities.

2.     Accounting Policies

The Group Financial statements are presented in US Dollars ("US$").

Basis of Preparation

This condensed consolidated interim financial information for the six months ended 30 June 2026 (the "condensed consolidated interim financial statements") has been prepared in accordance with IAS 34 "Interim Financial Reporting" as contained in UK-adopted international accounting standards and the Disclosure Guidance and Transparency Rules of the Financial Conduct Authority.

The condensed consolidated interim financial statements do not comprise statutory accounts within the meaning of section 434 of the Companies Act 2006 and do not include all of the information required for full annual financial statements. They should be read in conjunction with the Group's annual report and financial statements for the year ended 31 December 2025, which were prepared in accordance with UK-adopted international accounting standards and the requirements of the Companies Act 2006 and which have been delivered to the Registrar of Companies. The auditor's report on those financial statements was unqualified / drew attention by way of emphasis to a material uncertainty in respect of going concern and did not contain a statement under section 498(2) or 498(3) of the Companies Act 2006.

The accounting policies applied in these condensed consolidated interim financial statements are consistent with those set out in the 2025 annual report. The condensed consolidated interim financial statements are presented in US dollars ("US$"), the Group's presentation currency.

The condensed consolidated interim financial statements have not been audited, nor have they been reviewed by the Company's auditor in accordance with International Standard on Review Engagements (UK and Ireland) 2410.

Going Concern

The condensed consolidated interim financial statements have been prepared on the going concern basis.

At 30 June 2026, the Group had cash and cash equivalents of US$266,343 (31 December 2025: US$37,172) and net liabilities of US$161,747. In April 2026, the Company raised gross proceeds of £311,000 through a placing of new ordinary shares, and the Directors have continued to defer payment of their remuneration in order to preserve cash.

The Directors have prepared cash flow forecasts, covering a period of at least twelve months from the date of approval of this report. These shows that the Group will require additional funding within that period in order to meet its operating and listing costs and to progress any potential transaction. The Directors expect to raise further funds through the issue of equity or other instruments, as the Company has done in the recent past, but no such funding was committed at the date of approval of this report.

The requirement for additional funding that is not yet committed represents a material uncertainty that may cast significant doubt on the Group's ability to continue as a going concern, such that it may be unable to realise its assets and discharge its liabilities in the normal course of business. The condensed consolidated interim financial statements do not include any adjustments that would result if the Group were unable to continue as a going concern.

Basis of Consolidation

The condensed consolidated interim financial statements incorporate the financial statements of the Company and entities controlled by the Company, its subsidiaries. More information on the individual Group companies, details and timing of their acquisition is presented in the Company's audited consolidated financial information and notes thereto for the year ended 31 December 2025.

At the time of its acquisition by the Company, Coos Bay Energy, LLC consisted of Coos Bay Energy, LLC and its wholly owned US Group. It is the Directors' opinion that the Company at the date of acquisition of Coos Bay Energy, LLC did not meet the definition of a business as defined by IFRS 3 and therefore the acquisition is outside the scope of IFRS 3. Where a party to an acquisition fails to satisfy the definition of a business, as defined by IFRS 3, management have decided to adopt a "merger accounting" method of consolidation as the most relevant method to be used.

The Group applies this policy consistently to all similar transactions in the following way:

-     the acquired assets and liabilities are recorded at their existing carrying values rather than at fair value;

-     no goodwill is recorded;

-     all intra-group transactions, balances and unrealised gains and losses on transactions are eliminated from the beginning of the first comparative period or inception, whichever is earlier;

-     comparative periods are restated from the beginning of the earliest comparative period presented based on the assumption that the companies have always been together;

-     all the pre-acquisition accumulated losses of the legal acquiree are assumed by the Group as if the companies have always been together;

-     all the share capital and membership capital contributions of all the companies included into the legal acquiree sub-group less the Company's cost of investment into these companies are included into the merger reserve; and

-     the Company's called up share capital is restated at the preceding reporting date to reflect the value of the new shares that would have been issued to acquire the merged company had the merger taken place at the first day of the comparative period. Where new shares have been issued during the current period that increased net assets (other than as consideration for the merger), these are recorded from their actual date of issue and are not included in the comparative statement of financial position.

The results and cash flows of all the combining entities were brought into the condensed consolidated interim financial statements of the combined entity from the beginning of the financial year in which the combination occurred, adjusted so as to achieve uniformity of accounting policies. The comparative information was restated by including the total comprehensive income for all the combining entities for the previous reporting period and their statement of financial position for the previous reporting date, adjusted as necessary to achieve uniformity of accounting policies. 

At 30 June 2026, 30 June 2025 and 31 December 2025, the Group results include the results of Corpus Resources plc, Coos Bay Energy, LLC, Westport Energy Acquisitions, Inc. and Westport Energy, LLC.

3.    Segmental Analysis

In the opinion of the Directors, the Group is primarily organised into a single operating segment. This is consistent with the Group's internal reporting to the chief operating decision maker.  Separate segmental disclosures have therefore not been included.

4.    (Loss)/Profit Per Share

The basic profit/(loss) per share is derived by dividing the profit/(loss) for the period/year attributable to ordinary shareholders of the Company by the weighted average number of shares in issue. Diluted profit/(loss) per share is derived by dividing the profit/(loss) for the period/year, attributable to ordinary shareholders of the Company by the weighted average number of shares in issue plus the weighted average number of ordinary shares that would be issued on conversion of all dilutive potential ordinary shares into ordinary shares.

The following reflects the profit/(loss) per share data used in the basic and diluted profit/(loss) per share computations:

At 30 June 2026, the Company had 3,126,667,230 warrants and 180,490,269 convertible unsecured loan notes outstanding (Note 5 and Note 7). These instruments are anti-dilutive for the six months ended 30 June 2026 and there were no potentially dilutive instruments that could potentially dilute the basic Earning Per Share in the future. Therefore, Basic and Diluted loss per share is the same.

5.    Share Capital

Details of the issued Share capital for the period/year are provided below:

Issued Equity Share Capital

Background

On 6 May 2020, the Company's shareholders approved the subdivision and re-designation of the 83,032,971 Existing Ordinary Shares ("Existing Ordinary Shares") of £0.01 each in the capital of the Company into (i) 83,032,971 New Ordinary Shares ("New Ordinary Shares") of £0.0001 each and (ii) 83,032,971 Deferred Shares ("Deferred Shares") of £0.0099 each in the capital of the Company.

Each New Ordinary share carries the same rights in all respects under the amended Articles of Association as each Existing Ordinary Share did under the existing Articles of Association, including the rights in respect of voting and the entitlement to receive dividends. Each Deferred Share carries no rights and has no economic value.

Issued Ordinary Shares for the Interim Period to 30 June 2026

On 23 April 2026, the Company announced a placing to raise £311,000, before expenses, through the issue of 3,110,000,000 new ordinary shares of £0.0001 each at a price of 0.01 pence (£0.0001) per share. The shares were issued on 23 April 2026 and were admitted to the equity shares (transition) category of the Official List and to trading on the Main Market of the London Stock Exchange on 30 April 2026.

The gross proceeds were US$415,527 and directly attributable issue costs were US$27,671, giving net proceeds of US$387,856.

The placing included subscriptions of £55,000 by Richard Glass, Non-Executive Chairman, and £106,000 by James Stenhouse, Non-Executive Director, on the same terms as the other placees (see Note 8). The balance of £150,000 was subscribed by external investors.

Warrants

The following table summarises the warrants outstanding. No warrants were granted, exercised or lapsed during the six months ended 30 June 2026.

The exercise price of warrants, outstanding on 30 June 2026, was £0.0005 (31 December 2025: £0.0005) Their weighted average remaining contractual life was 2.36 years (31 December 2025: 3.36 years).

The weighted average share price (at the date of exercise) of warrants, exercised during the period, was nil (31 December 2025: nil) as no warrants were exercised.

6.    Administrative Expenses

Directors' remuneration of US$95,793 charged in the period together with employer's National Insurance of US$13,219 remains unpaid. At 30 June 2026, cumulative unpaid Directors' remuneration was US$285,113 (31 December 2025: US$190,518, which is included in trade and other payables. The Directors have agreed to continue to defer its payment to preserve the Company's cash resources.

7.   Borrowings

All of the Group's borrowings were settled on completion of the Company Voluntary Arrangement ("CVA") on 19 February 2025, and the Group has had no borrowings since that date (30 June 2026: US$ nil; 31 December 2025: US$ nil). Details of the loans settled under the CVA are set out in the 2025 annual report.

The CVA was approved on 5 September 2024 and formally completed on 19 February 2025. On completion: £59,582 was paid to critical creditors; £100,829 was paid to other trade creditors, representing a distribution of 3.13 pence per £1 of admitted debt to those unsecured creditors, who proved their debts in the CVA; and 180,490,269 convertible unsecured loan notes ("CULNs") were issued to CVA creditors. On conversion, the CULNs convert into ordinary shares of £0.0001 each on the basis of £0.0001 for each Note, ranking pari passu with the existing ordinary shares. The aggregate principal amount of the CULNs is £18,049 (US$22,303), they mature on such time the Company achieve admission upon completion of an RTO, and they were not convertible at 30 June 2026. The CULNs are anti-dilutive for the purposes of the loss per share calculation (Note 4).

8.    Related Party Transactions

In April 2026, Richard Glass (Non-Executive Chairman) subscribed $73,486 (£55,000) and James Stenhouse (Non-Executive Director) subscribed $141,627 (£106,000) in the placing announced on 23 April 2026, in each case at 0.01 pence per share on the same terms as the other placees, receiving 550,000,000 and 1,060,000,000 new ordinary shares respectively (see Note 5).

Directors' remuneration of US$95,793 (six months ended 30 June 2025: US$77,310) and associated employer's National Insurance of US$13,219 (six months ended 30 June 2025: US$10,669) were accrued but not paid in the period.

At 30 June 2026, cumulative unpaid Directors' remuneration of US$285,113 (31 December 2025: US$190,518) was included in trade and other payables, comprising US$135,042 owed to Richard Glass, US$15,029 owed to James Stenhouse, and US$135,042 owed to Paul Forrest.

There were no other related party transactions during the period that have materially affected the financial position or performance of the Group, and there were no changes in the related party transactions described in the 2025 annual report that could have a material effect on the financial position or performance of the Group in the first six months of the financial year.

9.    Events After the Reporting Period

There were no material events after the reporting period between 30 June 2026 and the date of approval of this report that require adjustment to, or disclosure in, this condensed consolidated interim financial information.