Market Signal Briefing

Journalist

Posted: February 10, 2026

Sui [SUI] has shed double-digit percentages on the price charts over the past week. It was part of a broader market meltdown as Bitcoin [BTC] raced south to $60k last week. The subsequent bounce to $72k has begun to reverse already though, negatively affecting the altcoin market once again.

SUI was no exception, with the selling pressure beginning to tell. Across the lower timeframes, the $1 psychological round number resistance was not overcome over the weekend. The latest slide below the local $0.965 support zone was a sign that bears were ready for the next price move south.

Assessing the long-term SUI trend As it stands there is no questioning the long-term downtrend of SUI. The inability to convincingly crack the May 2025 highs at $4.3 resulted in a swing failure pattern at the same highs in late July.

Thereafter, the altcoin made a series of lower lows. By the end of October, hastened by the month’s sell-off and fear, the swing structure flipped bearishly.

Source: SUI/USDT on TradingView

The early January rally was halted at $2, once again reinforcing the importance of round number resistances for this altcoin.

The selling pressure since then has been hefty. The CMF on the daily chart has been below -0.05 for the past three weeks too, showcasing sizeable capital outflows.

Rejection at $1 illuminates the next move

Source: SUI/USDT on TradingView

The 4-hour chart revealed that $1.02 was the 61.8% retracement. Monday’s losses shifted the internal SUI price structure bearishly. This meant that the longer-term bearish trend was ready to resume once more.

A move back above $1.02 would be a warning sign to cut losses. A rally beyond the local high at $1.16 would invalidate the bearish idea. As things stand, this outcome seemed to be unlikely.

Traders’ call to action – Sell The local lows at $0.788 are the current downtrend’s price targets, with $0.70 as the next extension target.

Traders will need to keep an eye on Bitcoin. BTC has the potential to bounce beyond $72k to hunt down short liquidations. This could ruin Sui short sellers’ plans and introduce high price volatility.

Final Thoughts SUI’s long-term trend has been bearish, and the loss of the psychological $1-level indicated a trend continuation. Rejection at the same $1-level over the last 48 hours allowed traders to take short positions. Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion.

Akashnath S is a Senior Journalist and Technical Analysis expert at AMBCrypto. He specializes in dissecting price action, identifying key market trends through advanced chart patterns, and forecasting both short-term and long-term asset trajectories. His distinct analytical method is grounded in his academic training as a Chemical Engineer. This background provides him with a systematic, process-oriented approach to market data, enabling him to analyze the complex dynamics of financial markets with precision and objectivity. Having actively covered the cryptocurrency space since the landmark 2017 market cycle, Akashnath possesses years of experience navigating both bull and bear markets. This seasoned perspective is critical to his insightful reporting on market volatility and evolution. As an active market participant, Akashnath enhances his analysis with crucial, hands-on experience. This practical application of his technical skills ensures his insights are not merely theoretical, but are also relevant and actionable for an audience looking to understand and navigate trading opportunities. He is dedicated to educating readers on the nuances of technical analysis, empowering them with the knowledge to make more informed financial decisions.

Bitcoin’s Four-Year Cycle Is Intact, and the Latest Sell-Off Shows Why Prefer us on Google

Bitcoin correction aligns with historical four-year halving cycle patterns.Kaiko says 52% drawdown mirrors prior post-halving bear markets.Analysts warn the bear market could last months before a clear bottom forms.Bitcoin’s (BTC) latest price correction is reinforcing, rather than undermining, the long-standing 4-year halving cycle that has historically shaped the asset’s market behavior, according to a new report from Kaiko Research.

The debate carries significant implications for traders and investors navigating Bitcoin’s volatility in early 2026.

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Bitcoin Is Following Its 4-Year Cycle Amid Sharp CorrectionBitcoin fell from its cycle peak near $126,000 to the $60,000–$70,000 range in early February. This marked a drawdown of roughly 52%.

While the move rattled market sentiment, Kaiko argues the decline is fully consistent with previous post-halving bear markets and does not signal a structural break from historical patterns.

“Bitcoin’s decline from $126,000 to $60,000 confirms rather than contradicts the four-year halving cycle, which has consistently delivered 50-80% drawdowns following cycle peaks,” Kaiko’s data debrief read.

The report notes that the 2024 halving took place in April. Bitcoin topped out roughly 12–18 months later, aligning closely with prior cycles. In past instances, such peaks have typically been followed by extended bear markets lasting around a year before the next accumulation phase begins. 

Bitcoin’s 4-Year Halving Cycle. Source: KaikoKaiko says the current price action suggests Bitcoin has transitioned out of the euphoric post-halving phase and into that expected corrective period.

It is worth noting that many experts have previously challenged Bitcoin’s 4-year cycle. They argue that it no longer holds in today’s market. In October, Arthur Hayes said the 4-year Bitcoin cycle was over. He pointed instead to global liquidity as the dominant driver of price movements.

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Others have argued that Bitcoin now follows a 5-year cycle rather than a 4-year one. They cite the growing influence of global liquidity conditions, institutional participation, and broader macroeconomic policy shifts.

Kaiko acknowledged that structural changes, including spot Bitcoin exchange-traded fund (ETF) adoption, greater regulatory clarity, and a more mature DeFi ecosystem, have distinguished 2024-2025 from previous cycles. Nonetheless, it said these developments have not prevented the expected post-peak retracement.

Instead, they have changed how volatility manifests. Spot Bitcoin ETFs recorded more than $2.1 billion in outflows during the recent sell-off.

This amplified downside pressure and demonstrated that institutional access increases liquidity in both directions, not just on the way up. According to Kaiko,

“While DeFi infrastructure has shown relative resilience compared to 2022, TVL declines and slowing staking flows indicate no sector is immune to bear market dynamics. Regulatory clarity has proven insufficient to decouple crypto from broader macro risk factors, with Fed uncertainty and risk-asset weakness dominating market direction.” 

Kaiko also raised the key question now dominating market discussions: where is the bottom? The report explained that Bitcoin’s intraday rebound from $60,000 to $70,000 suggests initial support may be forming. 

However, historical precedent shows that bear markets typically take six to 12 months and involve multiple failed rallies before a sustainable bottom is established.

Kaiko noted that stablecoin dominance stands at 10.3%, while funding rates have fallen close to zero and futures open interest has dropped by about 55%, signaling significant deleveraging across the market. Still, the firm cautioned that it remains unclear whether current conditions represent early, mid, or late-stage capitulation.

“The four-year cycle framework predicts we should be at the 30% mark. Bitcoin is doing exactly what it has done in every previous cycle, but it seems many market participants convinced themselves this time would be different,” Kaiko wrote.

As February 2026 progresses, market participants must weigh both sides of this argument. Bitcoin’s next moves will reveal whether history continues to repeat or a new market regime is taking shape.

Disclaimer

In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.

Researchers are currently in a rush to find new ways to "quantum-proof" Bitcoin. 

BitMEX Research has proposed a series of technical escape routes that would allow users to recover their Bitcoin even if the network is forced to freeze vulnerable coins to prevent theft.

The 'quantum freeze'Bitcoin developers might be forced to implement a "soft fork freeze." This will effectively lock any coins held in vulnerable legacy addresses (like P2PKH or P2PK) so they cannot be spent by anyone.

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However, if the attacker can’t spend the coins, neither can the legitimate owner. The money is effectively lost.

BitMEX proposes several methods to unlock these frozen coins using quantum-safe recovery transactions. 

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For standard wallets, BitMEX outlines a clumsy but effective two-step process to recover funds. The user broadcasts a transaction containing a "hash commitment" of their private key or seed phrase. After a waiting period (e.g., 100 blocks), the user broadcasts a second transaction that reveals the key or seed phrase.

Zero-Knowledge Proofs (ZKPs) are a more advanced solution since a user wouldn't need to reveal their private key at all. Instead, they would attach a ZKP to their transaction proving they know the seed phrase. 

Saving Satoshi’s coinsThere are varying degrees of risk associated with Bitcoin address types. Legacy addresses (P2PK), which represent roughly 8.6% of supply, include the famous coins mined by Satoshi Nakamoto in 2009.

BitMEX has proposed a "Pre-QDay Commitment" where users could broadcast a hash of their keys before quantum computers arrive. 

Journalist

Posted: February 10, 2026

Vitalik Buterin wants Ethereum [ETH] to be the backbone of decentralized AI, but the timing for his big vision is… well, awkward at best. The long-term pitch is perhaps getting bigger, but Ethereum is under real pressure right now.

The pitch for control Rather than pitching Ethereum as a way to build super intelligent AI faster, Buterin recently argued that the framing itself can use a bit of work. To him, “working on AGI” is an empty goal, one that prioritizes power over purpose.

Instead, he wants AI to move in a direction that protects people. That means avoiding futures where humans lose power; neither to machines nor to systems controlled by a few institutions.

Source: X

In this picture, Ethereum is support infrastructure. One role is helping people interact with AI in safer and more private ways, such as using local models, making payments without exposing identity. It also includes verifying what AI systems are doing instead of blindly trusting them. Another role is acting as a shared economic layer, where AI programs can pay each other, post deposits, or build reputation without a central authority.

Longer term, AI could help make old crypto ideas actually usable. Buterin stated,

“We can revisit the best ideas from 2014…  and with AI (and ZK) we have a whole new set of tools to make them come to life.”

Big ideas, rough reality

Ethereum co-founder Vitalik Buterin has outlined two core priorities for the next phase of Ethereum’s development, pairing an ambitious technical roadmap with a fresh focus on long-term institutional resilience.

In a recent X post, Buterin said the Ethereum Foundation is entering a period of mild austerity over the next five years to advance the network while safeguarding its core mission.

The first priority is to deliver an aggressive roadmap that preserves Ethereum’s role as a scalable, high-performance world computer without compromising robustness, sustainability, or decentralization. The second is ensuring the Foundation’s durability. This need includes the ability to protect user self-sovereignty, security, and privacy across the core blockchain layer and the ecosystem of tools that enable safe access to and use of Ethereum.

As part of this shift, Buterin said he is personally taking on responsibilities that might previously have been handled as special projects. His focus is on developing an open-source, secure, and verifiable full-stack of software and hardware capable of protecting both private life and public infrastructure.

Areas of interest include finance, communications, governance systems, operating systems, secure hardware, blockchains, and biotechnology, spanning both personal and public health.

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Buterin also pointed to initiatives such as open silicon efforts for security-critical use cases, privacy-preserving software with advanced cryptographic guarantees, environmental monitoring, and continued support for encrypted messaging tools.

To fund these efforts, the Ethereum co-founder confirmed he has withdrawn 16,384 ETH, which will be deployed gradually over the coming years. He is also exploring secure decentralized staking approaches that could allow future staking rewards to support the same objectives on an ongoing basis.

Buterin stressed that Ethereum itself is central to this vision of full-stack openness and verifiability. While broad adoption is welcome, he argued the primary goal is not corporate dominance but Ethereum for people who genuinely need it.

Buterin framed this as an alternative to power-driven technological arms races, emphasizing infrastructure that enables cooperation without domination, and tools that protect autonomy and safety as a fundamental right rather than a gated service.

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Cardano’s price fell nearly 4% over the past day and sits down 33% for the month. But signs point to easing sell-off momentum across the network.

The share of ADA supply sitting in profit crashed about 75% since January, dropping from above 33% in mid-January to roughly 8% in early February. With fewer holders making money on their positions, the rush to dump coins during small rallies pretty much disappeared. Profit-taking incentives basically vanished. Coin movement data backs up the trend – during February 6’s sell-off, activity spiked to around 168 million ADA but has since dropped to roughly 92 million, a 45% reduction. Long-term holders aren’t in a hurry to sell anymore and decided to wait instead.

Charts show promise too.

On the 4-hour timeframe, Cardano forms an inverse head-and-shoulders pattern with a left shoulder, deeper central low, and higher right shoulder. The neckline slopes downward, making breakouts tougher since buyers must push through falling resistance. A clean four-hour close above the $0.275 to $0.280 range would activate the pattern. Between January 31 and February 9, while ADA’s price hit lower lows, the Relative Strength Index showed higher lows – a bullish divergence that suggests weakening selling pressure.

Confirmation could come with a new price candle above $0.259.

Charles Hoskinson, Cardano’s creator, stays upbeat about the platform’s long-term prospects despite recent price struggles. Hoskinson points to ongoing development work and improvements within the Cardano ecosystem. He talks up the recent rollout of smart contract capabilities as a big step in boosting Cardano’s utility and appeal to developers. On February 7, Cardano’s development team announced a new update aimed at enhancing network scalability that’s expected to increase transaction throughput. By improving network efficiency, Cardano wants to strengthen its competitive edge against rivals like Ethereum and Solana.

Data from CoinGecko shows Cardano’s market cap sits at approximately $9 billion as of February 9. More on this topic: Senate Banking Panel Postpones Crypto Hearing.

ADA ranks as the seventh-largest cryptocurrency by market cap. The recent price swings haven’t really changed its standing among top digital assets, which reflects strong foundational support among investors holding for the long haul. Investors are watching closely for any announcements from Input Output Global (IOG), the company behind Cardano, regarding future partnerships or tech advances. Such developments could spark renewed investor interest and potentially drive trading volume higher, influencing ADA’s price trajectory in coming weeks. On February 8, the Cardano Foundation released a report detailing recent ecosystem expansions and collaborations with several blockchain projects focused on sustainability and decentralized finance.

These partnerships aim to leverage Cardano’s proof-of-stake protocol for reducing carbon footprints, potentially increasing ADA’s appeal to environmentally conscious investors.

Buyer strength remains the next critical factor though. On-Balance Volume (OBV), which measures whether volume supports price trends, stays on a downward path. The recent price rebounds lack sustained demand. The last significant buying surge happened on February 6, when ADA jumped from near $0.220 to around $0.285 – a near 30% increase with volume spiking sharply. Since then, participation cooled off. A real breakout would need renewed volume and a push through OBV’s downtrend. Without that, rallies will probably fizzle out.

Key resistance sits near $0.275. A confirmed break here could validate the inverse pattern, with $0.285 as the next obstacle. Clearing that level could pave the way toward $0.346, about 30% from the pattern’s neckline.

Trading activity shows mixed signals. Binance, one of the world’s largest cryptocurrency exchanges, reported a noticeable uptick in ADA trading volume on February 9. The increase comes amid growing speculation about Cardano’s potential price movements. Analysts think if trading volumes keep rising, it could signal renewed interest among both retail and institutional investors. Meanwhile, ADA’s performance gets watched closely by Grayscale Investments, which included Cardano in its Digital Large Cap Fund. As of its latest quarterly update, Grayscale noted that Cardano’s inclusion reflects its strategic position among top cryptocurrencies. See also: Fidelity Drops Digital Dollar Token as.

On the downside, $0.259 is crucial support.

A drop below that level could undermine the bullish setup. Full pattern invalidation would occur below $0.220, putting the price back under the pattern’s base. With selling incentives down 75% and coin activity quieted, momentum shows signs of improvement. But volume hasn’t asserted buyer control yet. If strong participation returns and $0.275 breaks, a move toward $0.34 becomes possible. If not, Cardano risks drifting lower.

February 10 marks the upcoming release of Cardano’s monthly development update. Investors and developers are eager to gain insights into ongoing projects and future upgrades covering advancements in smart contract functionality and potential enhancements to Cardano’s interoperability with other blockchain networks.

The development update will likely address Cardano’s progress on Hydra, its layer-2 scaling solution designed to process up to one million transactions per second. Early testing phases showed promising results, with the protocol handling thousands of transactions with minimal fees. Several decentralized applications have expressed interest in migrating to Hydra once it reaches full deployment.

Institutional adoption metrics reveal mixed signals for Cardano’s broader acceptance. While three major pension funds added ADA to their portfolios in January, two cryptocurrency hedge funds reduced their positions by roughly 15% during the same period. Messari data indicates that Cardano’s total value locked in DeFi protocols dropped from $320 million in December to $280 million by early February, reflecting broader market uncertainty rather than platform-specific issues.

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Bitcoin price slipped again on Feb. 10 after failing to stay above the $70,000 level, an area that had supported the market through much of the recent consolidation.

Summary

Bitcoin is under pressure as capital inflows fail to translate into price expansion. On-chain data shows rising whale exchange deposits and steady ETF outflows. Technical structure continues to favor distribution over accumulation. At press time, BTC was trading around $68,979, down 2% over the past 24 hours. The weakness extends across all major timeframes, with losses of 12% over the past week, 23% over the last month, and roughly 30% year-over-year.

The pullback has been sharp and persistent. Since reaching an all-time high of $126,080 in October 2025, Bitcoin (BTC) has fallen by nearly 45%. Rather than a single washout event, the decline has unfolded through steady selling.

At the same time, market activity has increased. Spot trading volume jumped 15.2% in the last 24 hours to $52 billion, pointing to active repositioning as traders reduce exposure or rotate capital.

Derivatives markets reflect a similar tone. CoinGlass data shows Bitcoin futures volume rising 4.97% to $70 billion, while open interest slipped 1.98% to $45 billion.

The combination suggests traders are closing positions faster than new leverage is being added, a pattern often seen during periods of distribution.

Selling pressure overwhelms inflows Concerns around Bitcoin’s ability to stage a recovery were shared by CryptoQuant CEO Ki Young Ju. In a Feb. 9 post on X, Ju said Bitcoin is currently “not pumpable,” arguing that selling pressure is absorbing capital faster than it can translate into price gains.

Bitcoin is not pumpable right now.

In 2024, $10B in cash could create $26B in BTC book value. In 2025, $308B flowed in, yet the market cap fell $98B. Selling pressure is too heavy for any multiplier effect.

MSTR and DATs won't work until it becomes pumpable again. pic.twitter.com/T8NZHio4H9

— Ki Young Ju (@ki_young_ju) February 9, 2026 Ju pointed to a sharp contrast between recent market cycles. In 2024, a $10 billion capital inflow expanded Bitcoin’s book value by $26 billion. In 2025, however, roughly $308 billion flowed into the market while total market capitalization fell by $98 billion. According to Ju, the usual multiplier effect has broken down under the weight of sustained selling.

On-chain data adds weight to that view. CryptoQuant contributor Amr Taha flagged two whale transfers of more than 5,000 BTC into Binance on Feb. 2 and Feb. 9, an uncommon event within a single week.

The first transfer aligned with Bitcoin’s slide from $77,000 to below $70,000 by Feb. 6, raising concerns that large holders may be using rallies to distribute into liquidity.

Institutional demand has also cooled. U.S. spot Bitcoin exchange-traded fund holdings peaked near 1.36 million BTC in mid-October 2025, alongside the market high. By Feb. 9, total holdings had fallen to roughly 1.27 million BTC, implying net outflows of around 90,000 BTC, or 6.6% of ETF reserves.

Bitcoin price technical analysis From a technical perspective, losing $70,000 has altered the market structure. After several unsuccessful attempts to regain the $71,000–$73,000 range, the level now serves as resistance.

Bitcoin daily chart. Credit: crypto.news The price is still below the 50-day and 20-day moving averages, which are both limiting attempts at an upward trend. Momentum is still lacking. The relative strength index is in the 32–34 range, indicating an oversold situation without a definite bullish divergence. 

After a period of compression, the price is clinging to the lower Bollinger Band as the bands begin to widen. In similar situations, failing to reclaim the mid-band often leads to further downside. Volume patterns reinforce this outlook, showing steady liquidation rather than panic selling, since sell-side spikes are not met with strong rebound activity.

A brief push toward $73,000–75,000 is feasible if Bitcoin can maintain above $68,000–69,000 and recover $71,000. A sustained close above the 50-day average near $79,000 would be needed to shift the trend.

On the downside, failure to defend $68,000 keeps pressure intact. A break below $62,800 opens the door to $60,000, with deeper liquidity waiting near $58,000.

ETF assets under management continue to diverge from spot bitcoin price. Feb 10, 2026, 7:58 a.m.

For the first time in nearly a month, U.S. bitcoin exchange-traded funds (ETFs) have recorded back-to-back net inflows, snapping a redemption streak that stretched back to mid-January.

According to SoSo value data, the consecutive inflows shift began on Friday with $471.1 million in fresh capital, followed by a $144.9 million on Monday. This comes as bitcoin bounced back from Thursday's $60,000 low to around $70,000.

STORY CONTINUES BELOW

In mid-January, bitcoin peaked near $98,000 after a two week rally that started at $87,000. The subsequent sell-off to $60,000 saw investors yank millions of these spot ETFs.

Broadly speaking, investors still appear confidence about the cryptocurrency's long-term prospects, as evident from the spot ETFs' resilient asset under management (AUM).

According to Checkonchain, the cumulative AUM of the 11 funds has only decreased by about 7% since early October, sliding from 1.37 million BTC to 1.29 million BTC. Bitcoin, meanwhile, is down over 40% since hitting record highs above 126,000 in October.

On-chain data shows Ethereum dipped under a key Market Value to Realized Value (MVRV) pricing band during the latest price drawdown.

Ethereum Fell Under The 0.80 MVRV Band Recently As explained by analyst Ali Martinez in an X post, Ethereum recently dropped below the 0.80 MVRV pricing band. The “MVRV Ratio” is a popular on-chain indicator that tracks the ratio between the ETH market cap and Realized Cap.

The Realized Cap here refers to a capitalization model that calculates the asset’s total value by assuming that the value of each individual token is equal to the spot price at which it was last transacted on the blockchain.

The last transfer of any token is likely to represent the last time that it changed hands, so the price at its time could be considered as its current cost basis. As such, the Realized Cap essentially measures the sum of the acquisition value of all coins in circulation. In other words, it provides an estimate for the amount of capital that the investors as a whole have put into the cryptocurrency.

As the market cap can be considered as the value that holders are carrying in the present, its comparison with the Realized Cap in the MVRV Ratio tells us about the profit-loss status of the Ethereum userbase.

When the value of the MVRV Ratio is greater than 1, it means the investors are in a state of net unrealized profit. On the other hand, it being under this mark suggests the dominance of loss on the network. Historically, profitability swinging to an extreme value either side of 1 has often paved way for reversals in the asset.

At a high level above 1, this happens because investors become more likely to take their profits the higher that they get. Similarly, below 1, the asset can bottom out as losses dominate and selling pressure runs out.

The MVRV Pricing Bands is a model that defines price levels for ETH where these behaviors become more apparent. Below is the chart shared by Martinez that shows the trend in this model’s bands for Ethereum.

The price of the coin seems to have fallen below all of the levels recently | Source: @alicharts on X As is visible in the graph, Ethereum plunged below the 1.0 pricing band corresponding to $2,449 during its slide at the end of January. This means that the overall market went underwater due to the price drawdown.

With bearish momentum continuing in the first week of February, losses only grew deeper for investors as the asset fell below another pricing band: 0.80. Currently, this level is valued at $1,959.

“The last three times Ethereum $ETH dipped below the 0.80 Pricing Band, it marked a market bottom,” noted the analyst. It now remains to be seen whether the venture below the level would also mark a bottom for the asset this time.

ETH Price Ethereum has rebounded a bit since its plunge last week as its price has returned to $2,044, recovering above the 0.80 MVRV pricing band.

The trend in the price of the coin over the last five days | Source: ETHUSDT on TradingView Featured image from Dall-E, chart from TradingView.com

Ripple’s XRP has continued to weaken in recent sessions, sliding from zones above $2.00 down toward the current $1.40 area.

Summary

XRP remains under selling pressure, sliding from above $2.00 toward $1.40 as bearish technical indicators persist. China’s call for banks to curb U.S. Treasury exposure has sparked risk-off sentiment, weighing on crypto markets. Weak technicals and macro uncertainty continue to cap XRP’s upside, leaving prices vulnerable in the near term. A steep sell-off seen earlier this week left technical indicators in bearish territory: the 50-day moving average remains overhead resistance, and the Relative Strength Index (RSI) languishes below neutral, signaling weakened buying pressure and persistent downside momentum.

China’s Treasury guidance sparks risk-off mood A key catalyst that market participants now point to is the latest guidance from Chinese financial authorities urging domestic banks to cut back on U.S. Treasury holdings amid heightened market volatility, a move widely interpreted as a macro “sell call” on risk assets.

Bloomberg reported that China is advising its banks to limit or reduce exposure to U.S. government debt, citing concerns about market swings and concentration risk.

While U.S. Treasuries are traditionally considered safe, China’s directive is being read by investors as a broader risk-off signal that could ripple through global financial markets. That sentiment shift has triggered volatility in equities, fixed income, and importantly, crypto markets, where speculative tokens like XRP (XRP) are especially vulnerable to sentiment swings.

Here’s how the connection is playing out:

Macro Risk Aversion: China’s push to cut Treasury holdings feeds fear of rising volatility and tightening liquidity. Risk Assets Under Pressure: Stocks, risk-linked currencies, and crypto often sell off when institutional players reduce speculative exposure. XRP Weakness Reinforced: With bearish technicals already in place, the added macro stress accelerates selling pressure rather than lifting demand. XRP price prediction hinges on sentiment shift Looking ahead, XRP’s near-term price outlook is likely to remain pressured unless broader market sentiment stabilizes. XRP’s recent attempt to stabilize near $1.30–$1.40 was met with minimal buying interest.

XRP price chart | Source: Crypto.News The RSI, still in sub-50 territory, suggests that bulls have not regained control, and the price continues to trade below a declining 50-day moving average. That alignment of weak technicals and a broader market “risk-off” backdrop helps explain why XRP has been unable to gain traction.

In summary, while China’s sell call is not a fundamental driver of XRP’s underlying adoption or Ripple’s business prospects, it does heighten bearish sentiment across risk assets. This leaves tokens like XRP vulnerable and underscores the importance of monitoring macro news alongside crypto-specific indicators in any price prediction.

Crypto security nonprofit Security Alliance has received a sponsorship from the Ethereum Foundation as it ramps up efforts to curb crypto drainers and other attack vectors targeting Ethereum users.

Summary

The Ethereum Foundation is sponsoring a SEAL security engineer to track and neutralize crypto drainers targeting Ethereum users. Drainer-related thefts fell to $84 million in 2025, the lowest on record, according to data cited by SEAL. According to SEAL, the Ethereum Foundation has sponsored a security engineer through the nonprofit’s “Trillion Dollar Security” initiative after it reached out to the foundation late last year.

In line with SEAL’s objective, the security engineer’s “sole mission is working with the SEAL Intel team to track and neutralize drainers targeting Ethereum users,” the nonprofit said.

Crypto drainers are a category of malicious scripts or toolkits that are often sold or shared among bad actors as a payable service across underground forums and allow anyone to launch phishing campaigns without any technical expertise.

“These scammers deploy fake websites imitating trusted protocols to convince the user to approve a few simple transactions in their wallet. If the user does, their wallet is quickly drained of all valuable assets,” SEAL said.

Notorious drainers like Angel and Inferno have constantly evolved to bypass traditional security measures, and new versions have surfaced even after reported shutdowns.

Data from crypto intelligence platform ScamSniffer, cited by SEAL, estimates that such attack vectors have led to nearly $1 billion worth of losses over the past few years. 

SEAL aims to counter such systemic threat vectors through its comprehensive Trillion Dollar Security dashboard that provides real-time visibility to track six critical security dimensions, such as user experience, smart contracts, infrastructure, consensus protocol, monitoring and incident response, and social layer governance.

“Our collaboration with the Ethereum Foundation is the first of many planned initiatives with forward-thinking ecosystems,” SEAL said, adding that other foundations or crypto ecosystems can reach out to explore similar sponsorship models designed to protect users at scale.

According to SEAL, its efforts have played a part in reducing drainer-related losses to an all-time low of $84 million in 2025.

An industry-wide effort SEAL was developed by white-hat hacker and security researcher samczsun in 2023, and since its inception, it has offered rapid-response infrastructure and collaborative threat intelligence tools to help mitigate on-chain exploits and phishing campaigns.

Last year, MetaMask and Phantom wallet joined SEAL as part of its real-time phishing defense network, alongside other major players like WalletConnect and Backpack, to help deliver real-time security against phishing attacks.

In the world of tech, businesses that focus intensely on product innovation will thrive.

Looking back at some of the best-performing stocks throughout history is a good way for investors to learn what traits to seek out in businesses they are considering adding to their portfolios. A consistent focus on product innovation, for example, is one powerful characteristic that can lead to robust returns.

Over the past 20 years (as of Feb. 5), this "Magnificent Seven" stock is up 10,650%. Including reinvested dividends, its total return comes out to 12,730%.

Can it keep going higher?

Image source: Getty Images.

Taking a trip down memory lane A phenomenal two-decade return like that only comes about when a company has been incredibly successful. And that's the best way to describe Apple (AAPL 1.04%).

In the early 2000s, the product that catapulted Apple's fortunes forward was the iPod, a portable music player that was revolutionary at the time. By the time it was discontinued in 2022, 450 million iPods of various types had been sold.

Then in 2007, the iPhone was released. It was arguably the single greatest consumer tech hardware product ever invented, and cemented Apple's position as a cultural icon and one of the most powerful brands out there. The market for the device and the other smartphones that have followed in its path is still thriving. The iPhone accounted for 59% of Apple's revenue in its fiscal 2026 first quarter (which ended Dec. 27).

The company's other hit products include the MacBook, iPad, Watch, and AirPods, which have all found tremendous success. There are now more than 2.5 billion active Apple devices around the globe, supporting an expansive ecosystem of software and services as well.

These days, Apple is a colossal enterprise. Its market cap of $4.1 trillion makes it the second most valuable company on the face of the planet. But the story isn't over.

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Investors will benefit from earnings growth Apple's profits should rise in the future. This isn't a controversial view at all. Its latest set of financial results should give investors plenty of confidence.

Apple's revenue soared 16% in fiscal Q1, and diluted earnings per share (EPS) were up 18%. Analysts expect EPS to grow 11.5% per year between fiscal 2025 and fiscal 2028. Investors should gain from the bottom line's growth. There's a potential headwind to think about, though, that could work against shareholders. Apple's price-to-earnings ratio of 34.9 looks fairly valued.

The stock will head higher provided its P/E valuation stays constant or doesn't decrease by much. However, investor sentiment could turn negative if the market believes, for whatever reason, that Apple is falling behind in the age of artificial intelligence. This could erase any potential optimism.

That bearish a perspective isn't warranted. Apple shares will march forward. However, they might not beat the market.

Gucci sales were down 16% on year. In the previous three months, the label's sales fell 18%.

International Petroleum Corporation (IPC or the Corporation) (TSX, Nasdaq Stockholm: IPCO) today released its financial and operating results and related management’s discussion and analysis (MD&A) for the three months and year ended December 31, 2025. IPC is also pleased to announce its 2026 budget, with the focus on finalizing the development of the Blackrod Phase 1 project in Canada. As previously announced, IPC achieved first steam injection at the Blackrod Phase 1 project in December 2025 and continues to forecast first oil in Q3 2026, a quarter earlier than originally guided. IPC’s 2026 capital and decommissioning expenditure budget is USD 122 million and its 2026 average daily production guidance is between 44,000 and 47,000 barrels of oil equivalent (boe) per day (boepd). 2025 year-end proved plus probable (2P) reserves are 521 million boe (MMboe) and best estimate contingent resources (unrisked) are 1,224 MMboe.(1)(2)

William Lundin, IPC's President and Chief Executive Officer, comments: “We are pleased to announce another year of strong production performance and operational results for IPC in 2025. Our average net production was 44,900 boepd for the full year, at the high end of the guidance range announced at our February 2025 Capital Markets Day. 2025 was the final major spend year for our Blackrod Phase 1 development, and we have now substantially completed construction activities with commissioning ongoing at the central processing facility (CPF). The initial set of wells are undergoing steam circulation and we continue to forecast first oil in Q3 2026. We generated strong cash flows from our business in 2025 even in light of weaker oil and gas prices, and we returned USD 100 million to shareholders through share buybacks in 2025. We were very pleased to increase and extend our Canadian revolving credit facility in Q2 2025 and to refinance our USD 450 million of Bonds in Q4 2025.(1)(3)

As the transformational Blackrod Phase 1 development transitions to its progressive start-up plan, 2026 marks an inflection point year for the company as we fast approach the start of significant cash flow generation from the asset. IPC forecasts USD 1 to 2 billion dollars in free cash flow generation from 2026 to 2030 at Brent USD 65 to 85 per barrel. With less shares outstanding compared to that at the formation of the company back in 2017 and a 2P reserves life index of 31 years, IPC remains strongly positioned to create long term shareholder value through prudent capital allocation towards our three key strategic pillars of Organic growth, Stakeholder Returns, and M&A that drive value creation for our stakeholders.(1)(2)(7)”

2025 Business Highlights

Average net production of approximately 45,600 boepd for the fourth quarter of 2025 was in line with the guidance range for the period (52% heavy crude oil, 15% light and medium crude oil and 33% natural gas).(1)Full year 2025 average net production was 44,900 boepd, at the high end of the 2025 annual guidance of 43,000 to 45,000 boepd.(1)Development activities on Phase 1 of the Blackrod project progressed in 2025 ahead of schedule and on budget, with first steam injection achieved in Q4 2025 and forecast first oil in Q3 2026. Completed the acquisition of lands adjacent to the Blackrod project, adding 64 MMboe of contingent resources (best estimate, unrisked).(1)(2)At Onion Lake Thermal, Canada, four production infill wells and the final Pad L sustaining well pair were brought online by Q3 2025.Successfully completed the drilling and workover program at the Bertam Field, Malaysia during Q3 2025.7.7 million IPC common shares purchased and cancelled from December 2024 to early December 2025. In Q3 2025, published IPC’s sixth annual Sustainability Report. 2025 Financial Highlights

Operating costs per boe of USD 18.4 for the fourth quarter of 2025 and USD 17.8 for the full year, below the low end of the 2025 guidance of USD 18.0 to 19.0 per boe.(3)Strong operating cash flow (OCF) generation for the fourth quarter and full year 2025 amounted to MUSD 63 and MUSD 259, respectively.(3)Capital and decommissioning expenditures of MUSD 63 for the fourth quarter and MUSD 344 for the full year 2025, in line with the latest full year guidance.Free cash flow (FCF) generation for the full year 2025 of negative MUSD 153, with negative MUSD 29 for the fourth quarter in line with expectations. FCF for the full year 2025, before 2025 Blackrod capital expenditure of MUSD 256, was MUSD 103.(3)Net debt of MUSD 484 as at December 31, 2025.(3)Net result of negative MUSD 5 for the fourth quarter of 2025 and positive MUSD 29 for the full year 2025.Amended and extended IPC’s MCAD 250 revolving credit facility in Q2 2025, extending the maturity to May 2027.Refinanced IPC’s MUSD 450 unsecured bonds in Q4 2025, extending the maturity to October 2030. Reserves and Resources

Total 2P reserves as at December 31, 2025 of 521 MMboe, with a reserve life index (RLI) of 31 years and a reserves replacement ratio of 277%.(1)(2)Proved developed producing (PDP) reserves increase of 28% from year-end 2024 to year-end 2025 to 125 MMboe, primarily driven from Blackrod Phase 1.(1)(2)Contingent resources (best estimate, unrisked) as at December 31, 2025 of 1,224 MMboe.(1)(2) 2026 Annual Guidance

Full year 2026 average net production forecast at 44,000 to 47,000 boepd.(1)Full year 2026 operating costs forecast at USD 18 to 20 per boe.(3)Full year 2026 OCF estimated at between MUSD 100 and 250 (assuming Brent USD 55 to 75 per barrel).(3)Full year 2026 capital and decommissioning expenditures guidance forecast at MUSD 122.Full year 2026 forecast FCF ranges from approximately negative MUSD 70 to positive MUSD 85 (assuming Brent USD 55 to 75 per barrel).(3) Current Business Plan FCF Forecasts

Cumulative forecast FCF of approximately MUSD 1,000 to 2,000 over the period of 2026 to 2030 and approximately MUSD 700 to 1,600 over the period of 2031 to 2035 (assuming Brent USD 65 to 85 per barrel).(3)(7)  Three months ended December 31 Year ended
December 31USD Thousands2025  2024 20252024Revenue176,207199,124 685,888797,783Gross profit28,24242,774 128,120210,171Net result(4,941)415 28,942102,219Operating cash flow (3)63,13878,158 258,903341,989Free cash flow (3)(28,627)(61,476) (153,134)(135,497)EBITDA (3)58,96676,184 243,537335,488Net cash / (debt) (3)(483,615)(208,528) (483,615)(208,528) International Petroleum Corporation is an entrepreneurially driven company that seeks to maximise shareholder value through responsible business operations and accretive growth. IPC started in 2017 with 113.5 million common shares outstanding and a debt-free portfolio of high-quality producing assets in Malaysia, France and the Netherlands, hosting combined 2P reserves of 29 MMboe, production of 10 Mboepd, a reserve life index of 8 years and a NPV10 of USD 0.5 billion.

This platform acted as a springboard for IPC to carry out countercyclical strategic moves including building a position in Canada through acquisitions and sanctioning a major Steam Assisted Gravity Drainage (SAGD) greenfield development project. The decisive moves undertaken by the company have been grounded by taking a long-term view and increasing exposure to oil. We are very pleased to see the positive market recognition in Canadian E&Ps, validating the bold decisions made to enter and grow in the jurisdiction given the vast resource and favourable fiscal terms.

As IPC enters its tenth year of existence in 2026, excluding the Blackrod Phase 1 growth capital expenditures, over USD 1.6 billion in free cash flow (FCF) has been generated and our current common shares outstanding is less than the starting amount at approximately 112.2 million shares. Current 2P reserves are 18 times higher standing at 521 MMboe and contingent resources (best estimate, unrisked) have grown from 0 MMboe in 2017 to now greater than 1,200 MMboe. Our reserve life index is four times higher at 31 years based on our 2026 mid-point production guidance of 45.5 Mboepd. Production is expected to grow to greater than 65 Mboepd by 2028 which underpins material FCF per share growth in the years ahead.(1)(2)(3)

Oil prices in 2025 ranged from Brent USD 59 to 77 per barrel, with a full year Brent averaging USD 69 per barrel compared to USD 81 per barrel averaged over the previous year 2024. The fourth quarter 2025 Brent price averaged USD 64 per barrel. The volatility in benchmark oil prices during 2025 was largely due to changing US economic and tariff policies and the corresponding potential effects on global economic growth, continuing geopolitical conflicts, and concerns regarding oil oversupply including from releases of OPEC production curtailments. IPC believes that these short-term uncertainties will lead to underinvestment in the industry, which combined with continued projected record breaking annual global oil demand into 2026 and beyond, should have a positive effect on oil prices at a time when IPC is ramping up Blackrod Phase 1 production.

IPC has hedged 1,500 barrels per day of forecast 2026 oil production at around USD 67 per barrel for Dated Brent and 7,500 barrels per day of forecast 2026 oil production at around USD 61.5 per barrel for West Texas Intermediate (WTI).

The fourth quarter 2025 WTI to Western Canadian Select (WCS) price differential averaged USD 11 per barrel, in line with the full year 2025 average. The WTI to WCS differential continues to benefit from the TMX pipeline expansion, driving up competitive tension for Canadian oil and increased buying from Asia. The outlook of the WTI to WCS differential remains tight with excess egress capacity relative to the supply in the Western Canadian Sedimentary Basin (WCSB), balanced against the potential of Venezuelan heavy oil barrels to the US Gulf Coast PADD III refineries. There are currently no tariffs on Canadian crude oil exports to the United States, which remain covered by the US Mexico Canada trade agreement. For 2026, IPC has implemented WTI to WCS differential hedges for 5,000 barrels per day at USD -12.50 per barrel.

The average Canadian gas benchmark price, AECO, was CAD 2.16 per Mcf for the fourth quarter of 2025 and CAD 1.63 for the full year 2025. WCSB gas inventory levels remain elevated above the historical average. There is an expectation for storage levels to draw during the winter period, with very cold weather experienced in North America in early 2026 and further supported by the ramp up of the LNG Canada project in 2026 which should drive higher natural gas prices in Canada. IPC has implemented hedges for 15,000 GJ per day at CAD 2.73 per GJ for 2026 from April to October 2026.

Fourth Quarter and Full Year 2025 Highlights

During the fourth quarter of 2025, IPC’s assets delivered average net production of 45,600 boepd, in line with guidance for the quarter. Full year 2025 average net production of 44,900 boepd was the high end of the 2025 guidance range of 43,000 to 45,000 boepd.(1)

IPC’s operating costs per boe for the fourth quarter of 2025 was USD 18.4. Full year 2025 operating costs per boe was USD 17.8, below the low end of the 2025 annual guidance of USD 18.0 to 19.0 per boe.(3)

Operating cash flow (OCF) generation for the fourth quarter of 2025 was USD 63 million. Full year 2025 OCF was USD 259 million above the most recent Q3 2025 guidance of USD 245 to 255 million.(3)

Capital and decommissioning expenditure for the fourth quarter of 2025 was USD 63 million. Full year 2025 capital and decommissioning expenditure of USD 344 million was in line with latest guidance of USD 340 million.

Free cash flow (FCF) generation was in line with guidance at negative USD 29 million during the fourth quarter of 2025. Full year 2025 FCF generation was negative USD 153 million, better than the most recent guidance of negative USD 160 to 170 million.(3)

As at December 31, 2025, IPC’s net debt position was USD 484 million. IPC prudently refinanced its USD 450 million of unsecured bonds in Q4 2025, extending maturity to October 2030. IPC also has access to a revolving credit facility of CAD 250 million, with approximately CAD 200 million undrawn as at the end of 2025.(3)

Blackrod

The Blackrod asset is 100% owned by IPC and hosts the largest booked reserves and contingent resources within the IPC portfolio. After more than a decade of pilot operations, subsurface delineation and commercial engineering studies, IPC sanctioned the Phase 1 SAGD development in the first quarter of 2023. The Phase 1 development targets 311 MMboe of 2P reserves, with a multi-year forecast capital expenditure of USD 850 million to first oil planned in Q3 2026. The Phase 1 development is planned for plateau production of 30,000 bopd which is expected by the end of 2027.(1)(2)

As previously announced, IPC achieved first steam at the Blackrod Phase 1 project in December 2025, a quarter earlier than originally guided. By the end of 2025, USD 820 million of cumulative growth capital has been spent on the Blackrod Phase 1 development since sanction. Construction is nearing completion at the central processing facility (CPF), commissioning activities are ongoing, and drilling plus completions continue to track favourably. Site health and safety control has been excellent with no material safety incidents since commercial development activities commenced.

Approximately USD 30 million of growth capital budget remains to reach first oil at Blackrod Phase 1 in 2026. IPC is well-positioned to deliver in line with the multi-year budget of USD 850 million to first oil. The total growth capital expenditure comprises the total installed costs for the facilities and associated 40 well pairs needed to fill the plant capacity of 30,000 bopd and has remained unchanged since the time of sanction in 2023.(1)

The remaining capital expenditure planned to be spent at Blackrod in 2026 of approximately USD 60 million includes acceleration of sustaining capital, taking advantage of economies of scale and the positive momentum seen by the drilling rig at site, capitalised operations for the operating costs incurred prior to first oil, and resource maturation works.

Blackrod realised a material uplift in recoverable resource through 2025 through a combination of favourable drilling results within and outside of the initial development area and further supplemented by acquiring adjacent lands with 64 MMboe of contingent resources (best estimate, unrisked). The 2P reserves attributable to Phase 1 has increased by 52 MMboe to 311 MMboe from year-end 2024 to year-end 2025. The contingent resources (best estimate, unrisked) attributed to the Blackrod asset realised a net increase of 117 MMboe to 1,142 MMboe.(1)(2)

Stakeholder Returns: Normal Course Issuer Bid

During the period of December 5, 2024 to December 4, 2025, IPC purchased and cancelled an aggregate of approximately 7.7 million common shares under the 2024/2025 NCIB and certain other exemptions in Canada. The average price of shares purchased under the 2024/2025 NCIB was SEK 144 / CAD 20 per share.

Since inception, IPC has returned over USD 600 million in shareholder returns in the form of share buybacks, cancelling over 77 million common shares at an aggregate average share price of around SEK 79 / CAD 11 per share. Since 2022, more than 27% of the shares outstanding have been repurchased and cancelled.

In Q4 2025, IPC announced the renewal of the NCIB, with the ability to repurchase up to approximately 6.5 million common shares over the period of December 5, 2025 to December 4, 2026. IPC remains focused on progressing the Blackrod Phase 1 development project first oil and will continue to monitor commodity prices in 2026 before acquiring IPC common shares under the current NCIB.

As at December 31, 2025 and February 10, 2026, IPC had a total of 112,155,527 common shares issued and outstanding and IPC holds no common shares in treasury.

Environmental, Social and Governance (ESG) Performance

As part of IPC’s commitment to operational excellence and responsible development, IPC’s objective is to reduce risk and eliminate hazards to prevent occurrence of accidents, ill health, and environmental damage, as these are essential to the success of our business operations. During the fourth quarter and for the full year 2025, IPC recorded no material safety or environmental incidents.

As previously announced, IPC targeted a reduction of our net GHG emissions intensity by the end of 2025 to 50% of IPC’s 2019 baseline and IPC is on track to achieve this reduction for 2025 net GHG emissions intensity. IPC is committed to remain at end 2025 levels of 20 kg CO2/boe through to the end of 2028.(4)

Reserves, Resources and Value

As at the end of December 2025, IPC’s 2P reserves are 521 MMboe. During 2025, IPC replaced 277% of the annual 2025 production. The reserve life index (RLI) as at December 31, 2025, is approximately 31 years.(1)(2)

The net present value (NPV) of IPC’s 2P reserves as at December 31, 2025 was around USD 2.7 billion. The net asset value (NAV) of IPC’s 2P reserves as at December 31, 2025 was around USD 2.2 billion. Based on IPC’s current business plans, the cumulative forecast FCF is approximately MUSD 1,000 to 2,000 over the period of 2026 to 2030 and approximately MUSD 700 to 1,600 over the period of 2031 to 2035 (assuming Brent USD 65 to 85 per barrel).(1)(2)(5)(6)(7)

In addition, IPC’s best estimate contingent resources (unrisked) as at December 31, 2025 are 1,224 MMboe, of which 1,142 MMboe relate to future potential phases of the Blackrod project.(1)(2)

2026 Budget and Operational Guidance

IPC is pleased to announce its 2026 average net production guidance is 44,000 to 47,000 boepd. IPC forecasts operating costs for 2026 between USD 18 and 20 per boe.(1)(3)

IPC’s 2026 capital and decommissioning expenditure budget is USD 122 million, with USD 90 million forecast relating to Blackrod capital expenditure. The remainder of the 2026 budget relates mainly to routine maintenance and ongoing optimization work at the other producing assets. In all of IPC’s areas of operation, IPC has significant flexibility to control its pace of spend based on the development of commodity prices during 2026.

Further details regarding IPC’s proposed 2026 budget and operational guidance will be provided at IPC’s Capital Markets Day presentation to be held on February 10, 2026 at 15:00 CET. A copy of the Capital Markets Day presentation will be available on IPC’s website at www.international-petroleum.com.

Notes:

(1)     See “Supplemental Information regarding Product Types” in “Reserves and Resources Advisory” below. See also the material change report (MCR) available on IPC’s website at www.international-petroleum.com and filed on the date of this press release under IPC’s profile on SEDAR+ at www.sedarplus.ca.
(2)     See “Reserves and Resources Advisory“ below. Further information with respect to IPC’s reserves, contingent resources and estimates of future net revenue, including assumptions relating to the calculation of NPV, are described in the MCR. The reserve life index (RLI) is calculated by dividing the 2P reserves of 521 MMboe as at December 31, 2025 by the mid-point of the 2026 CMD production guidance of 44,000 to 47,000 boepd. Reserves replacement ratio is based on 2P reserves of 493 MMboe as at December 31, 2024, sales production during 2025 of 15.7 MMboe, net additions to 2P reserves during 2025 of 43.4 MMboe, and 2P reserves of 521 MMboe as at December 31, 2025.
(3)     Non-IFRS measure, see “Non-IFRS Measures” below and in the MD&A.
(4)     Emissions intensity is the ratio between oil and gas production and the associated carbon emissions, and net emissions intensity reflects gross emissions less operational emission reductions and carbon offsets.
(5)     Net present value (NPV) is after tax, discounted at 10% and based upon the forecast prices and other assumptions further described in the MCR. See “Reserves and Resources Advisory” below.
(6)     Net asset value (NAV) is calculated as NPV less net debt of USD 484 million as at December 31, 2025.
(7)     Estimated FCF generation is based on IPC’s current business plans over the periods of 2026 to 2030 and 2031 to 2035, including net debt of USD 484 million as at December 31, 2025, with assumptions based on the reports of IPC’s independent reserves evaluator and auditor, and including certain corporate adjustments relating to estimated general and administration costs and hedging, and excluding shareholder distributions and certain refinancing costs. Assumptions include average net production of approximately 62 Mboepd over the period of 2026 to 2030, average capital expenditures of approximately USD 5 per boe, average operating costs of approximately USD 18 to 20 per boe, average Brent oil prices of USD 65 to 85 per bbl escalating by 2% per year, and average Brent to Western Canadian Select differentials and average gas prices as estimated by IPC’s independent reserves evaluator and auditor and as further described in the MCR. Estimated FCF generation at Brent oil prices of USD 95 per barrel escalating by 2% per year, based on the same assumptions set out above, are approximately MUSD 2,500 and 2,100 for the same periods, respectively. IPC’s market capitalization is at close on February 2, 2026 (USD 2,277 million based on 182 SEK/share, 112.2 million IPC shares outstanding and exchange rate of 8.97 SEK/USD). IPC’s current business plans and assumptions, and the business environment, are subject to change. Actual results may differ materially from forward-looking estimates and forecasts. See “Forward-Looking Statements” and “Non-IFRS Measures” below.

International Petroleum Corp. (IPC) is an international oil and gas exploration and production company with a high quality portfolio of assets located in Canada, Malaysia and France, providing a solid foundation for organic and inorganic growth. IPC is a member of the Lundin Group of Companies. IPC is incorporated in Canada and IPC’s shares are listed on the Toronto Stock Exchange (TSX) and the Nasdaq Stockholm exchange under the symbol "IPCO".

For further information, please contact:

Rebecca Gordon
SVP Corporate Planning and Investor Relations
[email protected]
Tel: +41 22 595 10 50 Robert Eriksson
Media Manager
[email protected]
Tel: +46 701 11 26 15 This information is information that International Petroleum Corporation is required to make public pursuant to the EU Market Abuse Regulation and the Securities Markets Act. The information was submitted for publication, through the contact persons set out above, at 07:30 CET on February 10, 2026. The Corporation's audited condensed consolidated financial statements (Financial Statements) and management's discussion and analysis (MD&A) for the three months and year ended December 31, 2025 have been filed on SEDAR+ (www.sedarplus.ca) and are also available on the Corporation's website (www.international-petroleum.com).

Forward-Looking Statements
This press release contains statements and information which constitute "forward-looking statements" or "forward-looking information" (within the meaning of applicable securities legislation). Such statements and information (together, "forward-looking statements") relate to future events, including the Corporation's future performance, business prospects or opportunities. Actual results may differ materially from those expressed or implied by forward-looking statements. The forward-looking statements contained in this press release are expressly qualified by this cautionary statement. Forward-looking statements speak only as of the date of this press release, unless otherwise indicated. IPC does not intend, and does not assume any obligation, to update these forward-looking statements, except as required by applicable laws.

All statements other than statements of historical fact may be forward-looking statements. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, forecasts, guidance, budgets, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as "seek", "anticipate", "plan", "continue", "estimate", "expect", "may", "will", "project", “forecast”, "predict", "potential", "targeting", "intend", "could", "might", "should", "believe", "budget" and similar expressions) are not statements of historical fact and may be "forward-looking statements".

Forward-looking statements include, but are not limited to, statements with respect to:

2026 production ranges (including total daily average production), production composition, cash flows, operating costs and capital and decommissioning expenditure estimates;Estimates of future production, cash flows, operating costs and capital expenditures that are based on IPC’s current business plans and assumptions regarding the business environment, which are subject to change;IPC’s financial and operational flexibility to navigate the Corporation through periods of volatile commodity prices;The ability to fully fund future expenditures from cash flows and current borrowing capacity;IPC’s intention and ability to continue to implement its strategies to build long-term shareholder value;The ability of IPC’s portfolio of assets to provide a solid foundation for organic and inorganic growth;The continued facility uptime and reservoir performance in IPC’s areas of operation;Development of the Blackrod project in Canada, including estimates of resource volumes, future production, timing, regulatory approvals, third party commercial arrangements, breakeven oil prices and net present values;Current and future production performance, operations and development potential of the Onion Lake Thermal, Suffield, Brooks, Ferguson and Mooney operations, including the timing and success of future oil and gas drilling and optimization programs; The potential improvement in the Canadian oil egress situation and IPC’s ability to benefit from any such improvements;The ability of IPC to achieve and maintain current and forecast production in France and Malaysia;The intention and ability of IPC to acquire common shares under the NCIB, including the timing of any such purchases;The return of value to IPC’s shareholders as a result of the NCIB;IPC’s ability to implement its greenhouse gas (GHG) emissions intensity and climate strategies and to achieve its net GHG emissions intensity reduction targets;IPC’s ability to implement projects to reduce net emissions intensity, including potential carbon capture and storage;Estimates of reserves and contingent resources;The ability to generate free cash flows and use that cash to repay debt;IPC’s continued access to its existing credit facilities, including current financial headroom, on terms acceptable to the Corporation;IPC’s ability to identify and complete future acquisitions; Expectations regarding the oil and gas industry in Canada, Malaysia and France, including assumptions regarding future royalty rates, regulatory approvals, legislative changes, and ongoing projects and their expected completion; andFuture drilling and other exploration and development activities. Statements relating to "reserves" and "contingent resources" are also deemed to be forward-looking statements, as they involve the implied assessment, based on certain estimates and assumptions, that the reserves and resources described exist in the quantities predicted or estimated and that the reserves and resources can be profitably produced in the future. Ultimate recovery of reserves or resources is based on forecasts of future results, estimates of amounts not yet determinable and assumptions of management.

The forward-looking statements are based on certain key expectations and assumptions made by IPC, including expectations and assumptions concerning: the potential impact of tariffs implemented in 2025 by the U.S. and Canadian governments and that other than the tariffs that have been implemented, neither the U.S. nor Canada (i) increases the rate or scope of such tariffs, or imposes new tariffs, on the import of goods from one country to the other, including on oil and natural gas, and/or (ii) imposes any other form of tax, restriction or prohibition on the import or export of products from one country to the other, including on oil and natural gas; prevailing commodity prices and currency exchange rates; applicable royalty rates and tax laws; interest rates; future well production rates and reserve and contingent resource volumes; operating costs; our ability to maintain our existing credit ratings; our ability to achieve our performance targets; the timing of receipt of regulatory approvals; the performance of existing wells; the success obtained in drilling new wells; anticipated timing and results of capital expenditures; the sufficiency of budgeted capital expenditures in carrying out planned activities; the timing, location and extent of future drilling operations; the successful completion of acquisitions and dispositions and that we will be able to implement our standards, controls, procedures and policies in respect of any acquisitions and realize the expected synergies on the anticipated timeline or at all; the benefits of acquisitions; the state of the economy and the exploration and production business in the jurisdictions in which IPC operates and globally; the availability and cost of financing, labour and services; our intention to complete share repurchases under our normal course issuer bid program, including the funding of such share repurchases, existing and future market conditions, including with respect to the price of our common shares, and compliance with respect to applicable limitations under securities laws and regulations and stock exchange policies; and the ability to market crude oil, natural gas and natural gas liquids successfully.

Although IPC believes that the expectations and assumptions on which such forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because IPC can give no assurances that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks.

These include, but are not limited to general global economic, market and business conditions, the risks associated with the oil and gas industry in general such as operational risks in development, exploration and production; delays or changes in plans with respect to exploration or development projects or capital expenditures; the uncertainty of estimates and projections relating to reserves, resources, production, revenues, costs and expenses; health, safety and environmental risks; commodity price fluctuations; interest rate and exchange rate fluctuations; marketing and transportation; loss of markets; environmental and climate-related risks; competition; innovation and cybersecurity risks related to our systems, including our costs of addressing or mitigating such risks; the ability to attract, engage and retain skilled employees; incorrect assessment of the value of acquisitions; failure to complete or realize the anticipated benefits of acquisitions or dispositions; the ability to access sufficient capital from internal and external sources; failure to obtain required regulatory and other approvals; geopolitical conflicts, including current and potential conflicts in Ukraine, the Middle East, South America and elsewhere and their potential impact on, among other things, global market conditions; political or economic developments, including, without limitation, the risk that (i) one or both of the U.S. and Canadian governments increases the rate or scope of tariffs implemented in 2025, or imposes new tariffs on the import of goods from one country to the other, including on oil and natural gas, (ii) the U.S. and/or Canada imposes any other form of tax, restriction or prohibition on the import or export of products from one country to the other, including on oil and natural gas, and (iii) the tariffs imposed by the U.S. on other countries and responses thereto could have a material adverse effect on the Canadian, U.S. and global economies, and by extension the Canadian oil and natural gas industry and the Corporation; and changes in legislation, including but not limited to tax laws, royalties, environmental and abandonment regulations.

Additional information on these and other factors that could affect IPC, or its operations or financial results, are included in the Financial Statements, the MD&A (See “Risk Factors”, "Cautionary Statement Regarding Forward-Looking Information" and “Reserves and Resources Advisory” therein), the Corporation’s material change report dated February 10, 2026 (MCR), the Corporation’s Annual Information Form (AIF) for the year ended December 31, 2024 (See “Cautionary Statement Regarding Forward-Looking Information”, “Reserves and Resources Advisory” and “Risk Factors”) and other reports on file with applicable securities regulatory authorities, including previous financial reports, management’s discussion and analysis and material change reports, which may be accessed through the SEDAR+ website (www.sedarplus.ca) or IPC's website (www.international-petroleum.com).

Management of IPC approved the production, operating costs, operating cash flow, capital and decommissioning expenditures and free cash flow guidance and estimates contained herein as of the date of this press release. The purpose of these guidance and estimates is to assist readers in understanding IPC’s expected and targeted financial results, and this information may not be appropriate for other purposes.

Estimated FCF generation is based on IPC’s current business plans over the periods of 2026 to 2030 and 2031 to 2035, including net debt of USD 484 million as at December 31, 2025, with assumptions based on the reports of IPC’s independent reserves evaluator and auditor, and including certain corporate adjustments relating to estimated general and administration costs and hedging, and excluding shareholder distributions and certain refinancing costs. Assumptions include average net production of approximately 62 Mboepd over the period of 2026 to 2030, average capital expenditures of approximately USD 5 per boe, average operating costs of approximately USD 18 to 20 per boe, average Brent oil prices of USD 65 to 95 per bbl escalating by 2% per year, and average Brent to Western Canadian Select differentials and average gas prices as estimated by IPC’s independent reserves evaluator and auditor and as further described in the MCR. IPC’s current business plans and assumptions, and the business environment, are subject to change. Actual results may differ materially from forward-looking estimates and forecasts.

Non-IFRS Measures
References are made in this press release to "operating cash flow" (OCF), “free cash flow” (FCF), "Earnings Before Interest, Tax, Depreciation and Amortization" (EBITDA), "operating costs" and "net debt"/”net cash”, which are not generally accepted accounting measures under International Financial Reporting Standards (IFRS) and do not have any standardized meaning prescribed by IFRS and, therefore, may not be comparable with similar measures presented by other public companies. Non-IFRS measures should not be considered in isolation or as a substitute for measures prepared in accordance with IFRS.

The definition of each non-IFRS measure is presented in IPC's MD&A (See "Non-IFRS Measures" therein).

Operating cash flow
The following table sets out how operating cash flow is calculated from figures shown in the Financial Statements:

 Three months ended December 31 Year ended December 31USD Thousands20252024 20252024Revenue176,207199,124 685,888797,783Production costs and net sales of diluent to third party1(113,814)(119,371) (426,976)(447,481)Current tax745(1,595) (9)(8,313)Operating cash flow63,13878,158 258,903341,989 1 Include net sales of diluent to third party amounting to USD 137 thousand for the fourth quarter of 2025 and USD 647 thousand for the year ended December 31, 2025.

Free cash flow
The following table sets out how free cash flow is calculated from figures shown in the Financial Statements:

 Three months ended December 31 Year ended December 31USD Thousands20252024 20252024Operating cash flow - see above63,13878,158 258,903341,989Capital expenditures(61,318)(126,256) (338,257)(434,713)Abandonment and farm-in expenditures1(1,810)(3,364) 1,146(8,302)General, administration and depreciation expenses before depreciation2(3,427)(3,569) (15,375)(14,814)Cash financial items3(25,210)(6,445) (59,551)(19,657)Free cash flow(28,627)(61,476) (153,134)(135,497) 1 See note 19 to the Financial Statements. Includes in 2025 secured amounts received of USD 7.7 million towards the future asset retirement obligation for the Bertam field.

2 Depreciation is not specifically disclosed in the Financial Statements
3 See notes 5 and 6 to the Financial Statements

EBITDA
The following table sets out the reconciliation from net result from the consolidated statement of operations to EBITDA:

 Three months ended December 31 Year ended December 31USD Thousands20252024 20252024Net result(4,491)415 28,942102,219Net financial items26,03935,767 65,76559,709Income tax3,5043,852 17,38033,325Depletion and decommissioning costs32,16732,087 122,749128,392Depreciation of other tangible fixed assets8002,430 5,5978,933Exploration and business development costs1,0471,725 1,7992,069Sale of assets1-(400) (104)(400)Depreciation included in general and administrative expenses2350308 1,4091,241EBITDA58,96676,814 243,537335,488 1 Sale of assets is included under “Other income/(expense)” but not specifically disclosed in the Financial Statements
2 Item is not shown in the Financial Statements

Operating costs
The following table sets out how operating costs is calculated:

 Three months ended December 31 Year ended December 31USD Thousands20252024 20252024Production costs113,951120,108 427,623448,218Cost of blending(31,184)(36,036) (134,630)(152,735)Change in inventory position(5,700)(4,633) (624)(1,473)Operating costs77,06779,439 292,369294,010 Net cash / (debt)
The following table sets out how net cash / (debt) is calculated from figures shown in the Financial Statements:

USD ThousandsDecember 31, 2025December 31, 2024Bank loans(40,652)(5,121)Bonds(450,000)(450,000)Cash and cash equivalents7,037246,593Net cash / (debt)(483,615)(208,528) Reserves and Resources Advisory
This press release contains references to estimates of gross and net reserves and resources attributed to the Corporation's oil and gas assets. For additional information with respect to such reserves and resources, refer to “Reserves and Resources Advisory” in the MD&A and the MCR. Light, medium and heavy crude oil reserves/resources disclosed in this press release include solution gas and other by-products. Also see “Supplemental Information regarding Product Types” below.

Reserve estimates, contingent resource estimates and estimates of future net revenue in respect of IPC’s oil and gas assets in Canada and France/Malaysia are effective as of December 31, 2025, and are included in the reports prepared by Sproule International Limited and ERC Equipoise Ltd., respectively (collectively, Sproule ERCE), an independent qualified reserves evaluator and auditor, in accordance with National Instrument 51-101 – Standards of Disclosure for Oil and Gas Activities (NI 51-101) and the Canadian Oil and Gas Evaluation Handbook (the COGE Handbook) and using Sproule ERCE’s December 31, 2025 price forecasts.

The price forecasts used in the Sproule ERCE reports are available on the website of Sproule ERCE (sproule-erce.com) and are contained in the MCR. These price forecasts are as at December 31, 2025 and may not be reflective of current and future forecast commodity prices.

The reserve life index (RLI) is calculated by dividing the 2P reserves of 521 MMboe as at December 31, 2025 by the mid-point of the 2026 CMD production guidance of 44,000 to 47,000 boepd. Reserves replacement ratio is based on 2P reserves of 493 MMboe as at December 31, 2024, sales production during 2025 of 15.7 MMboe, net additions to 2P reserves during 2025 of 43.4 MMboe and 2P reserves of 521 MMboe as at December 31, 2025.

The reserves and resources information and data provided in this press release present only a portion of the disclosure required under NI 51-101. All of the required information will be contained in the Corporation’s Annual Information Form for the year ended December 31, 2025, which will be filed on SEDAR+ (accessible at www.sedarplus.ca) on or before April 1, 2026. Further information with respect to IPC’s reserves, contingent resources and estimates of future net revenue, including assumptions relating to the calculation of net present value and other relevant information related to the contingent resources disclosed, is disclosed in the MCR available under IPC’s profile on www.sedarplus.ca and on IPC’s website at www.international-petroleum.com.

IPC uses the industry-accepted standard conversion of six thousand cubic feet of natural gas to one barrel of oil (6 Mcf = 1 bbl). A BOE conversion ratio of 6:1 is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead. As the value ratio between natural gas and crude oil based on the current prices of natural gas and crude oil is significantly different from the energy equivalency of 6:1, utilizing a 6:1 conversion basis may be misleading as an indication of value.

Supplemental Information regarding Product Types

The following table is intended to provide supplemental information about the product type composition of IPC’s net average daily production figures provided in this press release:

 Heavy Crude Oil
(Mbopd)Light and Medium Crude Oil (Mbopd)Conventional Natural Gas (per day)Total
(Mboepd)Three months ended    December 31, 202523.96.690.9 MMcf
(15.1 Mboe)45.6December 31, 202424.37.195.9 MMcf
(16.0 Mboe)47.4Year ended    December 31, 202523.66.489.6 MMcf
(14.9 Mboe)44.9December 31, 202423.97.795.1 MMcf
(15.8 Mboe)47.4 This press release also makes reference to IPC’s forecast total average daily production of 44,000 to 47,000 boepd for 2026. IPC estimates that approximately 57% of that production will be comprised of heavy oil, approximately 12% will be comprised of light and medium crude oil and approximately 31% will be comprised of conventional natural gas.

Currency
All dollar amounts in this press release are expressed in United States dollars, except where otherwise noted. References herein to USD mean United States dollars. References herein to CAD mean Canadian dollars.

IPC_qr_4_2025_FSandMDA

TORONTO, Feb. 10, 2026 (GLOBE NEWSWIRE) -- International Petroleum Corporation (IPC or the Corporation) (TSX, Nasdaq Stockholm: IPCO) today released its financial and operating results and related management’s discussion and analysis (MD&A) for the three months and year ended December 31, 2025. IPC is also pleased to announce its 2026 budget, with the focus on finalizing the development of the Blackrod Phase 1 project in Canada. As previously announced, IPC achieved first steam injection at the Blackrod Phase 1 project in December 2025 and continues to forecast first oil in Q3 2026, a quarter earlier than originally guided. IPC’s 2026 capital and decommissioning expenditure budget is USD 122 million and its 2026 average daily production guidance is between 44,000 and 47,000 barrels of oil equivalent (boe) per day (boepd). 2025 year-end proved plus probable (2P) reserves are 521 million boe (MMboe) and best estimate contingent resources (unrisked) are 1,224 MMboe.(1)(2)

William Lundin, IPC's President and Chief Executive Officer, comments: “We are pleased to announce another year of strong production performance and operational results for IPC in 2025. Our average net production was 44,900 boepd for the full year, at the high end of the guidance range announced at our February 2025 Capital Markets Day. 2025 was the final major spend year for our Blackrod Phase 1 development, and we have now substantially completed construction activities with commissioning ongoing at the central processing facility (CPF). The initial set of wells are undergoing steam circulation and we continue to forecast first oil in Q3 2026. We generated strong cash flows from our business in 2025 even in light of weaker oil and gas prices, and we returned USD 100 million to shareholders through share buybacks in 2025. We were very pleased to increase and extend our Canadian revolving credit facility in Q2 2025 and to refinance our USD 450 million of Bonds in Q4 2025.(1)(3)

As the transformational Blackrod Phase 1 development transitions to its progressive start-up plan, 2026 marks an inflection point year for the company as we fast approach the start of significant cash flow generation from the asset. IPC forecasts USD 1 to 2 billion dollars in free cash flow generation from 2026 to 2030 at Brent USD 65 to 85 per barrel. With less shares outstanding compared to that at the formation of the company back in 2017 and a 2P reserves life index of 31 years, IPC remains strongly positioned to create long term shareholder value through prudent capital allocation towards our three key strategic pillars of Organic growth, Stakeholder Returns, and M&A that drive value creation for our stakeholders.(1)(2)(7)”

2025 Business Highlights

Average net production of approximately 45,600 boepd for the fourth quarter of 2025 was in line with the guidance range for the period (52% heavy crude oil, 15% light and medium crude oil and 33% natural gas).(1)Full year 2025 average net production was 44,900 boepd, at the high end of the 2025 annual guidance of 43,000 to 45,000 boepd.(1)Development activities on Phase 1 of the Blackrod project progressed in 2025 ahead of schedule and on budget, with first steam injection achieved in Q4 2025 and forecast first oil in Q3 2026.Completed the acquisition of lands adjacent to the Blackrod project, adding 64 MMboe of contingent resources (best estimate, unrisked).(1)(2)At Onion Lake Thermal, Canada, four production infill wells and the final Pad L sustaining well pair were brought online by Q3 2025.Successfully completed the drilling and workover program at the Bertam Field, Malaysia during Q3 2025.7.7 million IPC common shares purchased and cancelled from December 2024 to early December 2025.In Q3 2025, published IPC’s sixth annual Sustainability Report. 2025 Financial Highlights

Operating costs per boe of USD 18.4 for the fourth quarter of 2025 and USD 17.8 for the full year, below the low end of the 2025 guidance of USD 18.0 to 19.0 per boe.(3)Strong operating cash flow (OCF) generation for the fourth quarter and full year 2025 amounted to MUSD 63 and MUSD 259, respectively.(3)Capital and decommissioning expenditures of MUSD 63 for the fourth quarter and MUSD 344 for the full year 2025, in line with the latest full year guidance.Free cash flow (FCF) generation for the full year 2025 of negative MUSD 153, with negative MUSD 29 for the fourth quarter in line with expectations. FCF for the full year 2025, before 2025 Blackrod capital expenditure of MUSD 256, was MUSD 103.(3)Net debt of MUSD 484 as at December 31, 2025.(3)Net result of negative MUSD 5 for the fourth quarter of 2025 and positive MUSD 29 for the full year 2025.Amended and extended IPC’s MCAD 250 revolving credit facility in Q2 2025, extending the maturity to May 2027.Refinanced IPC’s MUSD 450 unsecured bonds in Q4 2025, extending the maturity to October 2030. Reserves and Resources

Total 2P reserves as at December 31, 2025 of 521 MMboe, with a reserve life index (RLI) of 31 years and a reserves replacement ratio of 277%.(1)(2)Proved developed producing (PDP) reserves increase of 28% from year-end 2024 to year-end 2025 to 125 MMboe, primarily driven from Blackrod Phase 1.(1)(2)Contingent resources (best estimate, unrisked) as at December 31, 2025 of 1,224 MMboe.(1)(2)
2026 Annual Guidance

Full year 2026 average net production forecast at 44,000 to 47,000 boepd.(1)Full year 2026 operating costs forecast at USD 18 to 20 per boe.(3)Full year 2026 OCF estimated at between MUSD 100 and 250 (assuming Brent USD 55 to 75 per barrel).(3)Full year 2026 capital and decommissioning expenditures guidance forecast at MUSD 122.Full year 2026 forecast FCF ranges from approximately negative MUSD 70 to positive MUSD 85 (assuming Brent USD 55 to 75 per barrel).(3)
Current Business Plan FCF Forecasts

Cumulative forecast FCF of approximately MUSD 1,000 to 2,000 over the period of 2026 to 2030 and approximately MUSD 700 to 1,600 over the period of 2031 to 2035 (assuming Brent USD 65 to 85 per barrel).(3)(7)  Three months ended
December 31 Year ended
December 31USD Thousands2025 2024  2025 2024 Revenue176,207 199,124  685,888 797,783 Gross profit28,242 42,774  128,120 210,171 Net result(4,941)415  28,942 102,219 Operating cash flow(3)63,138 78,158  258,903 341,989 Free cash flow(3)(28,627)(61,476) (153,134)(135,497)EBITDA(3)58,966 76,184  243,537 335,488 Net cash / (debt)(3)(483,615)(208,528) (483,615)(208,528)
International Petroleum Corporation is an entrepreneurially driven company that seeks to maximise shareholder value through responsible business operations and accretive growth. IPC started in 2017 with 113.5 million common shares outstanding and a debt-free portfolio of high-quality producing assets in Malaysia, France and the Netherlands, hosting combined 2P reserves of 29 MMboe, production of 10 Mboepd, a reserve life index of 8 years and a NPV10 of USD 0.5 billion.

This platform acted as a springboard for IPC to carry out countercyclical strategic moves including building a position in Canada through acquisitions and sanctioning a major Steam Assisted Gravity Drainage (SAGD) greenfield development project. The decisive moves undertaken by the company have been grounded by taking a long-term view and increasing exposure to oil. We are very pleased to see the positive market recognition in Canadian E&Ps, validating the bold decisions made to enter and grow in the jurisdiction given the vast resource and favourable fiscal terms.

As IPC enters its tenth year of existence in 2026, excluding the Blackrod Phase 1 growth capital expenditures, over USD 1.6 billion in free cash flow (FCF) has been generated and our current common shares outstanding is less than the starting amount at approximately 112.2 million shares. Current 2P reserves are 18 times higher standing at 521 MMboe and contingent resources (best estimate, unrisked) have grown from 0 MMboe in 2017 to now greater than 1,200 MMboe. Our reserve life index is four times higher at 31 years based on our 2026 mid-point production guidance of 45.5 Mboepd. Production is expected to grow to greater than 65 Mboepd by 2028 which underpins material FCF per share growth in the years ahead.(1)(2)(3)

Oil prices in 2025 ranged from Brent USD 59 to 77 per barrel, with a full year Brent averaging USD 69 per barrel compared to USD 81 per barrel averaged over the previous year 2024. The fourth quarter 2025 Brent price averaged USD 64 per barrel. The volatility in benchmark oil prices during 2025 was largely due to changing US economic and tariff policies and the corresponding potential effects on global economic growth, continuing geopolitical conflicts, and concerns regarding oil oversupply including from releases of OPEC production curtailments. IPC believes that these short-term uncertainties will lead to underinvestment in the industry, which combined with continued projected record breaking annual global oil demand into 2026 and beyond, should have a positive effect on oil prices at a time when IPC is ramping up Blackrod Phase 1 production.

IPC has hedged 1,500 barrels per day of forecast 2026 oil production at around USD 67 per barrel for Dated Brent and 7,500 barrels per day of forecast 2026 oil production at around USD 61.5 per barrel for West Texas Intermediate (WTI).

The fourth quarter 2025 WTI to Western Canadian Select (WCS) price differential averaged USD 11 per barrel, in line with the full year 2025 average. The WTI to WCS differential continues to benefit from the TMX pipeline expansion, driving up competitive tension for Canadian oil and increased buying from Asia. The outlook of the WTI to WCS differential remains tight with excess egress capacity relative to the supply in the Western Canadian Sedimentary Basin (WCSB), balanced against the potential of Venezuelan heavy oil barrels to the US Gulf Coast PADD III refineries. There are currently no tariffs on Canadian crude oil exports to the United States, which remain covered by the US Mexico Canada trade agreement. For 2026, IPC has implemented WTI to WCS differential hedges for 5,000 barrels per day at USD -12.50 per barrel.

The average Canadian gas benchmark price, AECO, was CAD 2.16 per Mcf for the fourth quarter of 2025 and CAD 1.63 for the full year 2025. WCSB gas inventory levels remain elevated above the historical average. There is an expectation for storage levels to draw during the winter period, with very cold weather experienced in North America in early 2026 and further supported by the ramp up of the LNG Canada project in 2026 which should drive higher natural gas prices in Canada. IPC has implemented hedges for 15,000 GJ per day at CAD 2.73 per GJ for 2026 from April to October 2026.

Fourth Quarter and Full Year 2025 Highlights

During the fourth quarter of 2025, IPC’s assets delivered average net production of 45,600 boepd, in line with guidance for the quarter. Full year 2025 average net production of 44,900 boepd was the high end of the 2025 guidance range of 43,000 to 45,000 boepd.(1)

IPC’s operating costs per boe for the fourth quarter of 2025 was USD 18.4. Full year 2025 operating costs per boe was USD 17.8, below the low end of the 2025 annual guidance of USD 18.0 to 19.0 per boe.(3)

Operating cash flow (OCF) generation for the fourth quarter of 2025 was USD 63 million. Full year 2025 OCF was USD 259 million above the most recent Q3 2025 guidance of USD 245 to 255 million.(3)

Capital and decommissioning expenditure for the fourth quarter of 2025 was USD 63 million. Full year 2025 capital and decommissioning expenditure of USD 344 million was in line with latest guidance of USD 340 million.

Free cash flow (FCF) generation was in line with guidance at negative USD 29 million during the fourth quarter of 2025. Full year 2025 FCF generation was negative USD 153 million, better than the most recent guidance of negative USD 160 to 170 million.(3)

As at December 31, 2025, IPC’s net debt position was USD 484 million. IPC prudently refinanced its USD 450 million of unsecured bonds in Q4 2025, extending maturity to October 2030. IPC also has access to a revolving credit facility of CAD 250 million, with approximately CAD 200 million undrawn as at the end of 2025.(3)

Blackrod

The Blackrod asset is 100% owned by IPC and hosts the largest booked reserves and contingent resources within the IPC portfolio. After more than a decade of pilot operations, subsurface delineation and commercial engineering studies, IPC sanctioned the Phase 1 SAGD development in the first quarter of 2023. The Phase 1 development targets 311 MMboe of 2P reserves, with a multi-year forecast capital expenditure of USD 850 million to first oil planned in Q3 2026. The Phase 1 development is planned for plateau production of 30,000 bopd which is expected by the end of 2027.(1)(2)

As previously announced, IPC achieved first steam at the Blackrod Phase 1 project in December 2025, a quarter earlier than originally guided. By the end of 2025, USD 820 million of cumulative growth capital has been spent on the Blackrod Phase 1 development since sanction. Construction is nearing completion at the central processing facility (CPF), commissioning activities are ongoing, and drilling plus completions continue to track favourably. Site health and safety control has been excellent with no material safety incidents since commercial development activities commenced.

Approximately USD 30 million of growth capital budget remains to reach first oil at Blackrod Phase 1 in 2026. IPC is well-positioned to deliver in line with the multi-year budget of USD 850 million to first oil. The total growth capital expenditure comprises the total installed costs for the facilities and associated 40 well pairs needed to fill the plant capacity of 30,000 bopd and has remained unchanged since the time of sanction in 2023.(1)

The remaining capital expenditure planned to be spent at Blackrod in 2026 of approximately USD 60 million includes acceleration of sustaining capital, taking advantage of economies of scale and the positive momentum seen by the drilling rig at site, capitalised operations for the operating costs incurred prior to first oil, and resource maturation works.

Blackrod realised a material uplift in recoverable resource through 2025 through a combination of favourable drilling results within and outside of the initial development area and further supplemented by acquiring adjacent lands with 64 MMboe of contingent resources (best estimate, unrisked). The 2P reserves attributable to Phase 1 has increased by 52 MMboe to 311 MMboe from year-end 2024 to year-end 2025. The contingent resources (best estimate, unrisked) attributed to the Blackrod asset realised a net increase of 117 MMboe to 1,142 MMboe.(1)(2)

Stakeholder Returns: Normal Course Issuer Bid

During the period of December 5, 2024 to December 4, 2025, IPC purchased and cancelled an aggregate of approximately 7.7 million common shares under the 2024/2025 NCIB and certain other exemptions in Canada. The average price of shares purchased under the 2024/2025 NCIB was SEK 144 / CAD 20 per share.

Since inception, IPC has returned over USD 600 million in shareholder returns in the form of share buybacks, cancelling over 77 million common shares at an aggregate average share price of around SEK 79 / CAD 11 per share. Since 2022, more than 27% of the shares outstanding have been repurchased and cancelled.

In Q4 2025, IPC announced the renewal of the NCIB, with the ability to repurchase up to approximately 6.5 million common shares over the period of December 5, 2025 to December 4, 2026. IPC remains focused on progressing the Blackrod Phase 1 development project first oil and will continue to monitor commodity prices in 2026 before acquiring IPC common shares under the current NCIB.

As at December 31, 2025 and February 10, 2026, IPC had a total of 112,155,527 common shares issued and outstanding and IPC holds no common shares in treasury.

Environmental, Social and Governance (ESG) Performance

As part of IPC’s commitment to operational excellence and responsible development, IPC’s objective is to reduce risk and eliminate hazards to prevent occurrence of accidents, ill health, and environmental damage, as these are essential to the success of our business operations. During the fourth quarter and for the full year 2025, IPC recorded no material safety or environmental incidents.

As previously announced, IPC targeted a reduction of our net GHG emissions intensity by the end of 2025 to 50% of IPC’s 2019 baseline and IPC is on track to achieve this reduction for 2025 net GHG emissions intensity. IPC is committed to remain at end 2025 levels of 20 kg CO2/boe through to the end of 2028.(4)

Reserves, Resources and Value

As at the end of December 2025, IPC’s 2P reserves are 521 MMboe. During 2025, IPC replaced 277% of the annual 2025 production. The reserve life index (RLI) as at December 31, 2025, is approximately 31 years.(1)(2)

The net present value (NPV) of IPC’s 2P reserves as at December 31, 2025 was around USD 2.7 billion. The net asset value (NAV) of IPC’s 2P reserves as at December 31, 2025 was around USD 2.2 billion. Based on IPC’s current business plans, the cumulative forecast FCF is approximately MUSD 1,000 to 2,000 over the period of 2026 to 2030 and approximately MUSD 700 to 1,600 over the period of 2031 to 2035 (assuming Brent USD 65 to 85 per barrel).(1)(2)(5)(6)(7)

In addition, IPC’s best estimate contingent resources (unrisked) as at December 31, 2025 are 1,224 MMboe, of which 1,142 MMboe relate to future potential phases of the Blackrod project.(1)(2)

2026 Budget and Operational Guidance

IPC is pleased to announce its 2026 average net production guidance is 44,000 to 47,000 boepd. IPC forecasts operating costs for 2026 between USD 18 and 20 per boe.(1)(3)

IPC’s 2026 capital and decommissioning expenditure budget is USD 122 million, with USD 90 million forecast relating to Blackrod capital expenditure. The remainder of the 2026 budget relates mainly to routine maintenance and ongoing optimization work at the other producing assets. In all of IPC’s areas of operation, IPC has significant flexibility to control its pace of spend based on the development of commodity prices during 2026.

Further details regarding IPC’s proposed 2026 budget and operational guidance will be provided at IPC’s Capital Markets Day presentation to be held on February 10, 2026 at 15:00 CET. A copy of the Capital Markets Day presentation will be available on IPC’s website at www.international-petroleum.com.

Notes:

(1)See “Supplemental Information regarding Product Types” in “Reserves and Resources Advisory” below. See also the material change report (MCR) available on IPC’s website at www.international-petroleum.com and filed on the date of this press release under IPC’s profile on SEDAR+ at www.sedarplus.ca.(2)See “Reserves and Resources Advisory“ below. Further information with respect to IPC’s reserves, contingent resources and estimates of future net revenue, including assumptions relating to the calculation of NPV, are described in the MCR. The reserve life index (RLI) is calculated by dividing the 2P reserves of 521 MMboe as at December 31, 2025 by the mid-point of the 2026 CMD production guidance of 44,000 to 47,000 boepd. Reserves replacement ratio is based on 2P reserves of 493 MMboe as at December 31, 2024, sales production during 2025 of 15.7 MMboe, net additions to 2P reserves during 2025 of 43.4 MMboe, and 2P reserves of 521 MMboe as at December 31, 2025.(3)Non-IFRS measure, see “Non-IFRS Measures” below and in the MD&A.(4)Emissions intensity is the ratio between oil and gas production and the associated carbon emissions, and net emissions intensity reflects gross emissions less operational emission reductions and carbon offsets.(5)Net present value (NPV) is after tax, discounted at 10% and based upon the forecast prices and other assumptions further described in the MCR. See “Reserves and Resources Advisory” below.(6)Net asset value (NAV) is calculated as NPV less net debt of USD 484 million as at December 31, 2025.(7)Estimated FCF generation is based on IPC’s current business plans over the periods of 2026 to 2030 and 2031 to 2035, including net debt of USD 484 million as at December 31, 2025, with assumptions based on the reports of IPC’s independent reserves evaluator and auditor, and including certain corporate adjustments relating to estimated general and administration costs and hedging, and excluding shareholder distributions and certain refinancing costs. Assumptions include average net production of approximately 62 Mboepd over the period of 2026 to 2030, average capital expenditures of approximately USD 5 per boe, average operating costs of approximately USD 18 to 20 per boe, average Brent oil prices of USD 65 to 85 per bbl escalating by 2% per year, and average Brent to Western Canadian Select differentials and average gas prices as estimated by IPC’s independent reserves evaluator and auditor and as further described in the MCR. Estimated FCF generation at Brent oil prices of USD 95 per barrel escalating by 2% per year, based on the same assumptions set out above, are approximately MUSD 2,500 and 2,100 for the same periods, respectively. IPC’s market capitalization is at close on February 2, 2026 (USD 2,277 million based on 182 SEK/share, 112.2 million IPC shares outstanding and exchange rate of 8.97 SEK/USD). IPC’s current business plans and assumptions, and the business environment, are subject to change. Actual results may differ materially from forward-looking estimates and forecasts. See “Forward-Looking Statements” and “Non-IFRS Measures” below.
International Petroleum Corp. (IPC) is an international oil and gas exploration and production company with a high quality portfolio of assets located in Canada, Malaysia and France, providing a solid foundation for organic and inorganic growth. IPC is a member of the Lundin Group of Companies. IPC is incorporated in Canada and IPC’s shares are listed on the Toronto Stock Exchange (TSX) and the Nasdaq Stockholm exchange under the symbol "IPCO". 

For further information, please contact:

Rebecca Gordon
SVP Corporate Planning and Investor Relations
[email protected]
Tel: +41 22 595 10 50OrRobert Eriksson
Media Manager
[email protected]
Tel: +46 701 11 26 15 This information is information that International Petroleum Corporation is required to make public pursuant to the EU Market Abuse Regulation and the Securities Markets Act. The information was submitted for publication, through the contact persons set out above, at 07:30 CET on February 10, 2026. The Corporation's audited condensed consolidated financial statements (Financial Statements) and management's discussion and analysis (MD&A) for the three months and year ended December 31, 2025 have been filed on SEDAR+ (www.sedarplus.ca) and are also available on the Corporation's website (www.international-petroleum.com).

Forward-Looking Statements
This press release contains statements and information which constitute "forward-looking statements" or "forward-looking information" (within the meaning of applicable securities legislation). Such statements and information (together, "forward-looking statements") relate to future events, including the Corporation's future performance, business prospects or opportunities. Actual results may differ materially from those expressed or implied by forward-looking statements. The forward-looking statements contained in this press release are expressly qualified by this cautionary statement. Forward-looking statements speak only as of the date of this press release, unless otherwise indicated. IPC does not intend, and does not assume any obligation, to update these forward-looking statements, except as required by applicable laws.

All statements other than statements of historical fact may be forward-looking statements. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, forecasts, guidance, budgets, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as "seek", "anticipate", "plan", "continue", "estimate", "expect", "may", "will", "project", “forecast”, "predict", "potential", "targeting", "intend", "could", "might", "should", "believe", "budget" and similar expressions) are not statements of historical fact and may be "forward-looking statements".

Forward-looking statements include, but are not limited to, statements with respect to:

2026 production ranges (including total daily average production), production composition, cash flows, operating costs and capital and decommissioning expenditure estimates;Estimates of future production, cash flows, operating costs and capital expenditures that are based on IPC’s current business plans and assumptions regarding the business environment, which are subject to change;IPC’s financial and operational flexibility to navigate the Corporation through periods of volatile commodity prices;The ability to fully fund future expenditures from cash flows and current borrowing capacity;IPC’s intention and ability to continue to implement its strategies to build long-term shareholder value;The ability of IPC’s portfolio of assets to provide a solid foundation for organic and inorganic growth;The continued facility uptime and reservoir performance in IPC’s areas of operation;Development of the Blackrod project in Canada, including estimates of resource volumes, future production, timing, regulatory approvals, third party commercial arrangements, breakeven oil prices and net present values;Current and future production performance, operations and development potential of the Onion Lake Thermal, Suffield, Brooks, Ferguson and Mooney operations, including the timing and success of future oil and gas drilling and optimization programs;The potential improvement in the Canadian oil egress situation and IPC’s ability to benefit from any such improvements;The ability of IPC to achieve and maintain current and forecast production in France and Malaysia;The intention and ability of IPC to acquire common shares under the NCIB, including the timing of any such purchases;The return of value to IPC’s shareholders as a result of the NCIB;IPC’s ability to implement its greenhouse gas (GHG) emissions intensity and climate strategies and to achieve its net GHG emissions intensity reduction targets;IPC’s ability to implement projects to reduce net emissions intensity, including potential carbon capture and storage;Estimates of reserves and contingent resources;The ability to generate free cash flows and use that cash to repay debt;IPC’s continued access to its existing credit facilities, including current financial headroom, on terms acceptable to the Corporation;IPC’s ability to identify and complete future acquisitions;Expectations regarding the oil and gas industry in Canada, Malaysia and France, including assumptions regarding future royalty rates, regulatory approvals, legislative changes, and ongoing projects and their expected completion; andFuture drilling and other exploration and development activities.
Statements relating to "reserves" and "contingent resources" are also deemed to be forward-looking statements, as they involve the implied assessment, based on certain estimates and assumptions, that the reserves and resources described exist in the quantities predicted or estimated and that the reserves and resources can be profitably produced in the future. Ultimate recovery of reserves or resources is based on forecasts of future results, estimates of amounts not yet determinable and assumptions of management.

The forward-looking statements are based on certain key expectations and assumptions made by IPC, including expectations and assumptions concerning: the potential impact of tariffs implemented in 2025 by the U.S. and Canadian governments and that other than the tariffs that have been implemented, neither the U.S. nor Canada (i) increases the rate or scope of such tariffs, or imposes new tariffs, on the import of goods from one country to the other, including on oil and natural gas, and/or (ii) imposes any other form of tax, restriction or prohibition on the import or export of products from one country to the other, including on oil and natural gas; prevailing commodity prices and currency exchange rates; applicable royalty rates and tax laws; interest rates; future well production rates and reserve and contingent resource volumes; operating costs; our ability to maintain our existing credit ratings; our ability to achieve our performance targets; the timing of receipt of regulatory approvals; the performance of existing wells; the success obtained in drilling new wells; anticipated timing and results of capital expenditures; the sufficiency of budgeted capital expenditures in carrying out planned activities; the timing, location and extent of future drilling operations; the successful completion of acquisitions and dispositions and that we will be able to implement our standards, controls, procedures and policies in respect of any acquisitions and realize the expected synergies on the anticipated timeline or at all; the benefits of acquisitions; the state of the economy and the exploration and production business in the jurisdictions in which IPC operates and globally; the availability and cost of financing, labour and services; our intention to complete share repurchases under our normal course issuer bid program, including the funding of such share repurchases, existing and future market conditions, including with respect to the price of our common shares, and compliance with respect to applicable limitations under securities laws and regulations and stock exchange policies; and the ability to market crude oil, natural gas and natural gas liquids successfully.

Although IPC believes that the expectations and assumptions on which such forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because IPC can give no assurances that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks.

These include, but are not limited to general global economic, market and business conditions, the risks associated with the oil and gas industry in general such as operational risks in development, exploration and production; delays or changes in plans with respect to exploration or development projects or capital expenditures; the uncertainty of estimates and projections relating to reserves, resources, production, revenues, costs and expenses; health, safety and environmental risks; commodity price fluctuations; interest rate and exchange rate fluctuations; marketing and transportation; loss of markets; environmental and climate-related risks; competition; innovation and cybersecurity risks related to our systems, including our costs of addressing or mitigating such risks; the ability to attract, engage and retain skilled employees; incorrect assessment of the value of acquisitions; failure to complete or realize the anticipated benefits of acquisitions or dispositions; the ability to access sufficient capital from internal and external sources; failure to obtain required regulatory and other approvals; geopolitical conflicts, including current and potential conflicts in Ukraine, the Middle East, South America and elsewhere and their potential impact on, among other things, global market conditions; political or economic developments, including, without limitation, the risk that (i) one or both of the U.S. and Canadian governments increases the rate or scope of tariffs implemented in 2025, or imposes new tariffs on the import of goods from one country to the other, including on oil and natural gas, (ii) the U.S. and/or Canada imposes any other form of tax, restriction or prohibition on the import or export of products from one country to the other, including on oil and natural gas, and (iii) the tariffs imposed by the U.S. on other countries and responses thereto could have a material adverse effect on the Canadian, U.S. and global economies, and by extension the Canadian oil and natural gas industry and the Corporation; and changes in legislation, including but not limited to tax laws, royalties, environmental and abandonment regulations.

Additional information on these and other factors that could affect IPC, or its operations or financial results, are included in the Financial Statements, the MD&A (See “Risk Factors”, "Cautionary Statement Regarding Forward-Looking Information" and “Reserves and Resources Advisory” therein), the Corporation’s material change report dated February 10, 2026 (MCR), the Corporation’s Annual Information Form (AIF) for the year ended December 31, 2024 (See “Cautionary Statement Regarding Forward-Looking Information”, “Reserves and Resources Advisory” and “Risk Factors”) and other reports on file with applicable securities regulatory authorities, including previous financial reports, management’s discussion and analysis and material change reports, which may be accessed through the SEDAR+ website (www.sedarplus.ca) or IPC's website (www.international-petroleum.com).

Management of IPC approved the production, operating costs, operating cash flow, capital and decommissioning expenditures and free cash flow guidance and estimates contained herein as of the date of this press release. The purpose of these guidance and estimates is to assist readers in understanding IPC’s expected and targeted financial results, and this information may not be appropriate for other purposes.

Estimated FCF generation is based on IPC’s current business plans over the periods of 2026 to 2030 and 2031 to 2035, including net debt of USD 484 million as at December 31, 2025, with assumptions based on the reports of IPC’s independent reserves evaluator and auditor, and including certain corporate adjustments relating to estimated general and administration costs and hedging, and excluding shareholder distributions and certain refinancing costs. Assumptions include average net production of approximately 62 Mboepd over the period of 2026 to 2030, average capital expenditures of approximately USD 5 per boe, average operating costs of approximately USD 18 to 20 per boe, average Brent oil prices of USD 65 to 95 per bbl escalating by 2% per year, and average Brent to Western Canadian Select differentials and average gas prices as estimated by IPC’s independent reserves evaluator and auditor and as further described in the MCR. IPC’s current business plans and assumptions, and the business environment, are subject to change. Actual results may differ materially from forward-looking estimates and forecasts.

Non-IFRS Measures
References are made in this press release to "operating cash flow" (OCF), “free cash flow” (FCF), "Earnings Before Interest, Tax, Depreciation and Amortization" (EBITDA), "operating costs" and "net debt"/”net cash”, which are not generally accepted accounting measures under International Financial Reporting Standards (IFRS) and do not have any standardized meaning prescribed by IFRS and, therefore, may not be comparable with similar measures presented by other public companies. Non-IFRS measures should not be considered in isolation or as a substitute for measures prepared in accordance with IFRS.

The definition of each non-IFRS measure is presented in IPC's MD&A (See "Non-IFRS Measures" therein).

Operating cash flow
The following table sets out how operating cash flow is calculated from figures shown in the Financial Statements:

 Three months ended December 31 Year ended December 31USD Thousands2025 2024  2025 2024 Revenue176,207 199,124  685,888 797,783 Production costs and net sales of diluent to third party1(113,814)(119,371) (426,976)(447,481)Current tax745 (1,595) (9)(8,313)Operating cash flow63,138 78,158  258,903 341,989  1 Include net sales of diluent to third party amounting to USD 137 thousand for the fourth quarter of 2025 and USD 647 thousand for the year ended December 31, 2025.

Free cash flow
The following table sets out how free cash flow is calculated from figures shown in the Financial Statements:

 Three months ended December 31 Year ended December 31USD Thousands2025 2024  2025 2024 Operating cash flow - see above63,138 78,158  258,903 341,989 Capital expenditures(61,318)(126,256) (338,257)(434,713)Abandonment and farm-in expenditures1(1,810)(3,364) 1,146 (8,302)General, administration and depreciation expenses before depreciation2(3,427)(3,569) (15,375)(14,814)Cash financial items3(25,210)(6,445) (59,551)(19,657)Free cash flow(28,627)(61,476) (153,134)(135,497) 1 See note 19 to the Financial Statements. Includes in 2025 secured amounts received of USD 7.7 million towards the future asset retirement obligation for the Bertam field.

2 Depreciation is not specifically disclosed in the Financial Statements
3 See notes 5 and 6 to the Financial Statements

EBITDA
The following table sets out the reconciliation from net result from the consolidated statement of operations to EBITDA:

 Three months ended December 31 Year ended December 31USD Thousands2025 2024  2025 2024 Net result(4,491)415  28,942 102,219 Net financial items26,039 35,767  65,765 59,709 Income tax3,504 3,852  17,380 33,325 Depletion and decommissioning costs32,167 32,087  122,749 128,392 Depreciation of other tangible fixed assets800 2,430  5,597 8,933 Exploration and business development costs1,047 1,725  1,799 2,069 Sale of assets1- (400) (104)(400)Depreciation included in general and administrative expenses2350 308  1,409 1,241 EBITDA58,966 76,814  243,537 335,488  1 Sale of assets is included under “Other income/(expense)” but not specifically disclosed in the Financial Statements
2 Item is not shown in the Financial Statements

Operating costs
The following table sets out how operating costs is calculated:

 Three months ended December 31 Year ended December 31USD Thousands2025 2024  2025 2024 Production costs113,951 120,108  427,623 448,218 Cost of blending(31,184)(36,036) (134,630)(152,735)Change in inventory position(5,700)(4,633) (624)(1,473)Operating costs77,067 79,439  292,369 294,010 
Net cash / (debt)
The following table sets out how net cash / (debt) is calculated from figures shown in the Financial Statements:

USD ThousandsDecember 31, 2025December 31, 2024Bank loans(40,652)(5,121)Bonds(450,000)(450,000)Cash and cash equivalents7,037 246,593 Net cash / (debt)(483,615)(208,528)
Reserves and Resources Advisory
This press release contains references to estimates of gross and net reserves and resources attributed to the Corporation's oil and gas assets. For additional information with respect to such reserves and resources, refer to “Reserves and Resources Advisory” in the MD&A and the MCR. Light, medium and heavy crude oil reserves/resources disclosed in this press release include solution gas and other by-products. Also see “Supplemental Information regarding Product Types” below.

Reserve estimates, contingent resource estimates and estimates of future net revenue in respect of IPC’s oil and gas assets in Canada and France/Malaysia are effective as of December 31, 2025, and are included in the reports prepared by Sproule International Limited and ERC Equipoise Ltd., respectively (collectively, Sproule ERCE), an independent qualified reserves evaluator and auditor, in accordance with National Instrument 51-101 – Standards of Disclosure for Oil and Gas Activities (NI 51-101) and the Canadian Oil and Gas Evaluation Handbook (the COGE Handbook) and using Sproule ERCE’s December 31, 2025 price forecasts.

The price forecasts used in the Sproule ERCE reports are available on the website of Sproule ERCE (sproule-erce.com) and are contained in the MCR. These price forecasts are as at December 31, 2025 and may not be reflective of current and future forecast commodity prices.

The reserve life index (RLI) is calculated by dividing the 2P reserves of 521 MMboe as at December 31, 2025 by the mid-point of the 2026 CMD production guidance of 44,000 to 47,000 boepd. Reserves replacement ratio is based on 2P reserves of 493 MMboe as at December 31, 2024, sales production during 2025 of 15.7 MMboe, net additions to 2P reserves during 2025 of 43.4 MMboe and 2P reserves of 521 MMboe as at December 31, 2025.

The reserves and resources information and data provided in this press release present only a portion of the disclosure required under NI 51-101. All of the required information will be contained in the Corporation’s Annual Information Form for the year ended December 31, 2025, which will be filed on SEDAR+ (accessible at www.sedarplus.ca) on or before April 1, 2026. Further information with respect to IPC’s reserves, contingent resources and estimates of future net revenue, including assumptions relating to the calculation of net present value and other relevant information related to the contingent resources disclosed, is disclosed in the MCR available under IPC’s profile on www.sedarplus.ca and on IPC’s website at www.international-petroleum.com.

IPC uses the industry-accepted standard conversion of six thousand cubic feet of natural gas to one barrel of oil (6 Mcf = 1 bbl). A BOE conversion ratio of 6:1 is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead. As the value ratio between natural gas and crude oil based on the current prices of natural gas and crude oil is significantly different from the energy equivalency of 6:1, utilizing a 6:1 conversion basis may be misleading as an indication of value.

Supplemental Information regarding Product Types

The following table is intended to provide supplemental information about the product type composition of IPC’s net average daily production figures provided in this press release:

 Heavy Crude Oil
(Mbopd)Light and Medium Crude Oil (Mbopd)Conventional Natural Gas (per day)Total
(Mboepd)Three months ended    December 31, 202523.96.690.9 MMcf
(15.1 Mboe)45.6December 31, 202424.37.195.9 MMcf
(16.0 Mboe)47.4Year ended    December 31, 202523.66.489.6 MMcf
(14.9 Mboe)44.9December 31, 202423.97.795.1 MMcf
(15.8 Mboe)47.4
This press release also makes reference to IPC’s forecast total average daily production of 44,000 to 47,000 boepd for 2026. IPC estimates that approximately 57% of that production will be comprised of heavy oil, approximately 12% will be comprised of light and medium crude oil and approximately 31% will be comprised of conventional natural gas.

Currency
All dollar amounts in this press release are expressed in United States dollars, except where otherwise noted. References herein to USD mean United States dollars. References herein to CAD mean Canadian dollars.

New York, New York--(Newsfile Corp. - February 10, 2026) - Levi & Korsinsky notifies investors that it has commenced an investigation into Boston Scientific Corporation (NYSE: BSX) ("Boston Scientific Corporation") concerning potential violations of the federal securities laws.

On February 4, 2026, Boston Scientific reported fourth-quarter 2025 results. While the company exceeded analyst expectations for earnings per share and total revenue, its electrophysiology segment reported sales of $890 million, approximately $43 million below the $933 million consensus estimate. The EP segment has been positioned as the primary growth engine for the company, driven by its FARAPULSE pulsed field ablation system and related cardiac rhythm management products.

The electrophysiology market represents one of the fastest-growing areas in cardiovascular medicine, with pulsed field ablation technology emerging as a potential replacement for traditional thermal ablation procedures. Boston Scientific entered this market through its acquisition of Farapulse in 2021 and has invested heavily in expanding manufacturing capacity and physician training programs. The company projected that global PFA penetration would reach 50% by the end of 2025 and grow to approximately 80% by 2028.

During the Q3 2025 earnings call on October 22, 2025, CEO Mike Mahoney stated the company was "guiding to organic growth of 11% to 13% for fourth quarter '25" and expressed that the company was "incredibly proud of our EP performance, with third quarter sales growing 63%." The company had emphasized EP growth rates of 94% in Q2 2025 and 63% in Q3 2025.

During the first Q&A exchange following the Q4 2025 earnings release, analysts noted the street was expecting approximately 25% EP growth for the quarter. Management's discussion indicated confidence in only approximately 15% growth going forward, representing a significant gap between market expectations and the company's internal outlook.

Following the earnings release, BSX shares fell 17.5% with the stock reaching a 52-week low of $75.50.

If you suffered a loss on your Boston Scientific Corporation securities and would like to explore a potential recovery under the federal securities laws, Learn More About the Investigation or contact Joseph E. Levi, Esq. via email at [email protected] or call (212)363-7500 to speak to our team of experienced shareholder advocates.

WHY LEVI & KORSINSKY: Over the past 20 years, Levi & Korsinsky LLP has established itself as a nationally-recognized securities litigation firm that has secured hundreds of millions of dollars for aggrieved shareholders and built a track record of winning high-stakes cases. The firm has extensive expertise representing investors in complex securities litigation and a team of over 70 employees to serve our clients. For seven years in a row, Levi & Korsinsky has ranked in ISS Securities Class Action Services' Top 50 Report as one of the top securities litigation firms in the United States. Attorney Advertising. Prior results do not guarantee similar outcomes.

CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Ed Korsinsky, Esq.
33 Whitehall Street, 27th Floor
New York, NY 10004
[email protected]
Tel: (212)363-7500
Fax: (212)363-7171

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/283393

Source: Levi & Korsinsky, LLP

Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

Roy Jakobs has headed Philips since October 2022 and the company said it would put his re-appointment to shareholders later this year.

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS STIPULATED UNDER THE UK VERSION OF THE MARKET ABUSE REGULATION NO 596/2014 WHICH IS PART OF ENGLISH LAW BY VIRTUE OF THE EUROPEAN (WITHDRAWAL) ACT 2018, AS AMENDED. ON PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THIS INFORMATION IS CONSIDERED TO BE IN THE PUBLIC DOMAIN.

Hemogenyx Pharmaceuticals plc

("Hemogenyx Pharmaceuticals" or the "Company")

Hemogenyx Secures £2,500,000 to continue its Phase 1 Clinical Trials

LONDON, UK / ACCESS Newswire / February 10, 2026 / Hemogenyx Pharmaceuticals plc (LSE:HEMO) is pleased to announce that it has raised £2,500,000 from a consortium of private investors through a direct subscription for 313,333 new ordinary shares in the Company at a price of £7.50 per share. The new investors will also receive a three year warrant to subscribe on a one-for-one basis for ordinary shares in the Company at £9 per share. Some of these investors taken part in earlier share subscriptions in recent months and we are grateful for their continuing support.

The net proceeds of this fundraise will be dedicated primarily to the continuation of the Phase I clinical trials for the Company's Chimeric Antigen Receptor T-cell therapy ("HG-CT-1"), aimed at treating relapsed/refractory acute myeloid leukemia ("R/R AML") both in adults and also now in children.

The Company received a positive recommendation from the independent Data Safety Monitoring Board ("DSMB") overseeing its ongoing Phase I clinical trial of HG-CT-1 in October 2025, supporting continuation of the trial with escalation to the next dose level in adults. In addition, the Company has received clearance from the U.S. Food and Drug Administration ("FDA") to initiate a Phase I clinical trial in pediatric patients aged 12-18 years.

In parallel, management has undertaken a concerted effort to significantly reduce the Company's burn rate. As part of this initiative, the Company outsourced the manufacturing of HG-CT-1 to a specialised external manufacturer, Made Scientific ("MADE"). The Company devoted substantial time to the technology transfer process and is currently in the final stages of this work, in preparation for the manufacture of HG-CT-1 for the first adult and pediatric patients. The next group of adult patients will be treated with an increased dose while pediatric patients will receive the lowest dose of HG-CT-1 which is going to be the same as in the first group of adults.

While the Company's efforts remain primarily focused on the HG-CT-1 clinical trials, it continues to advance its CDX and CBR product candidates where possible and expects to report further progress on these programmes in due course.

An application is being made to the Main Market of the London Stock Exchange, and admission of the Placing Shares to trading is expected on or around 13 February 2026 ("Admission"). The Placing Shares will rank pari passu with the Company's existing Ordinary Shares.

Total Voting Rights

For the purpose of the Disclosure Guidance and Transparency Rules, following Admission the enlarged issued share capital of the Company will comprise 6,354,588 ordinary shares. The Company does not hold any shares in treasury. The above figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company, under the Disclosure

Dr Vladislav Sandler, CEO & Co-Founder of Hemogenyx Pharmaceuticals, commented:
"We are grateful for the continued support shown by both new and existing investors in this financing. The proceeds of the fundraise will be used primarily to support the ongoing Phase I clinical trials of HG-CT-1 in adults and paediatric patients with relapsed or refractory acute myeloid leukaemia.

Following the positive recommendation from the DSMB to continue the adult trial at the next dose level and the receipt of FDA clearance to initiate the paediatric study, the Company remains focused on executing its clinical programme. In parallel, we have implemented measures to reduce operating costs, including outsourcing the manufacture of HG-CT-1 to a specialised third-party provider.

While HG-CT-1 remains our principal priority, we continue to advance our other programmes where appropriate and will provide updates as and when further progress is made."

UK Market Abuse Regulation (UK MAR) Disclosure
Certain information contained in this announcement would have been inside information for the purposes of Article 7 of Regulation No 596/2014 (as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018) until the release of this announcement. The person responsible for arranging for the release of this announcement on behalf of Hemogenyx Pharmaceuticals plc is Dr Vladislav Sandler, Chief Executive Officer & Co-Founder.

Enquiries:

Hemogenyx Pharmaceuticals plc

https://hemogenyx.com

Dr Vladislav Sandler, Chief Executive Officer & Co-Founder

[email protected]

Peter Redmond, Director

[email protected]

SP Angel Corporate Finance LLP

Tel: +44 (0)20 3470 0470

Matthew Johnson, Vadim Alexandre, Adam Cowl

AlbR Capital Limited

Tel: +44 (0)20 7469 0930

Lucy Williams, Duncan Vasey, Charles Goodfellow

About Hemogenyx Pharmaceuticals plc

Hemogenyx Pharmaceuticals is a publicly traded company (LSE:HEMO) headquartered in London, with its US operating subsidiaries, Hemogenyx Pharmaceuticals LLC and Immugenyx LLC, located in New York City .

The Company is a clinical stage biopharmaceutical group developing new medicines and treatments to treat blood and autoimmune diseases. Hemogenyx Pharmaceuticals is developing several distinct and complementary product candidates, as well as platform technologies that it uses as engines for novel product development.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.

SOURCE: Hemogenyx Pharmaceuticals PLC

,  /PRNewswire/ -- ASE Technology Holding Co., Ltd. (NYSE: ASX, TAIEX: 3711, "ASEH" or the "Company"), announces its unaudited consolidated net revenues for January 2026.

CONSOLIDATED NET REVENUES (UNAUDITED)

Jan

Dec

Jan

Sequential

YoY

(NT$ Million)

2026

2025

2025

Change

Change

Net Revenues

59,989

58,865

49,444

+1.9 %

+21.3 %

Jan

Dec

Jan

Sequential

YoY

(US$ Million)

2026

2025

2025

Change

Change

Net Revenues

1,906

1,880

1,506

+1.3 %

+26.5 %

Net revenues for ATM assembly, testing and material business are as follows:

ATM NET REVENUES (UNAUDITED)

Jan

Dec

Jan

Sequential

YoY

(NT$ Million)

2026

2025

2025

Change

Change

Net Revenues

37,639

37,586

28,137

+0.1 %

+33.8 %

Jan

Dec

Jan

Sequential

YoY

(US$ Million)

2026

2025

2025

Change

Change

Net Revenues

1,196

1,201

857

-0.4 %

+39.5 %

*This press release is intended to comply with Taiwan regulatory requirements.

Safe Harbor Notice:

This press release contains "forward-looking statements" within the meaning of Section 27A of the United States Securities Act of 1933, as amended, and Section 21E of the United States Securities Exchange Act of 1934, as amended. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. Although these forward-looking statements, which may include statements regarding our future results of operations, financial condition or business prospects, are based on our own information and information from other sources we believe to be reliable, you should not place undue reliance on these forward-looking statements, which apply only as of the date of this press release. The words "anticipate," "believe," "estimate," "expect," "intend," "plan" and similar expressions, as they relate to us, are intended to identify these forward-looking statements in this press release. These forward-looking statements are necessarily estimates reflecting the best judgment of our senior management and our actual results of operations, financial condition or business prospects may differ materially from those expressed or implied by the forward-looking statements for reasons including, among others, risks associated with cyclicality and market conditions in the semiconductor or electronic industry; changes in our regulatory environment, including our ability to comply with new or stricter environmental regulations and to resolve environmental liabilities; demand for the outsourced semiconductor packaging, testing and electronic manufacturing services we offer and for such outsourced services generally; the highly competitive semiconductor or manufacturing industry we are involved in; our ability to introduce new technologies in order to remain competitive; international business activities; our business strategy; our future expansion plans and capital expenditures; the strained relationship between the Republic of China and the People's Republic of China; general economic and political conditions; the recent shift in United States trade policies; possible disruptions in commercial activities caused by natural or human-induced disasters; fluctuations in foreign currency exchange rates; and other factors. For a discussion of these risks and other factors, please see the documents we file from time to time with the Securities and Exchange Commission, including the 2024 Annual Report on Form 20-F filed on March 27, 2025.

Investor Relations Contact:

SOURCE ASE Technology Holding Co., Ltd.

STMicroelectronics introduces the first automotive microcontroller with AI acceleration for edge intelligence

Stellar P3E automotive microcontroller (MCU) enables real-time AI applications at the edge significantly enhancing vehicle intelligenceSimplifies multi-function integration for X-in-1 Electronic Control Units Delivers flexible, real-time performance for safe, responsive applications from hybrid/EV systems to body zonal architectures Geneva, February 10, 2026 -- STMicroelectronics (NYSE: STM), a global semiconductor leader serving customers across the spectrum of electronics applications, today announced the Stellar P3E, the first automotive microcontroller (MCU) with built-in AI acceleration for automotive edge intelligence. Designed for future software-defined vehicles, the Stellar P3E simplifies multi-function integration for X-in-1 Electronic Control Units (ECUs) that reduce system cost, weight, and complexity.

“Stellar P3E sets a new benchmark for automotive electrification by combining high-performance real-time control and edge AI in a single device that meets the highest automotive safety levels,” said Luca Rodeschini, Group Vice President and General Purpose and Automotive Microcontrollers Division General Manager, STMicroelectronics. “Its increased processing power, AI acceleration, large and extensible memory, rich analogue content, smart sensing capabilities, and intelligent power management functions support new applications such as virtual sensors. This better enables automakers with the tools to create safer, more efficient and more responsive driving experiences.”

A defining feature of the Stellar P3E is its integrated ST Neural-ART Accelerator™ for real-time AI efficiency —making it the first MCU with an embedded neural network accelerator for the automotive industry. Powered by this dedicated neural processing unit (NPU) with an advanced data-flow architecture for AI workloads, and combined with its rich sensing capabilities, the P3E enables smart sensing that opens the door to new applications such as virtual sensors.

The P3E delivers inference processing at microsecond speeds, achieving up to 30x greater efficiency compared to traditional MCU core processors. This enables always-on, low-power artificial intelligence (AI) that can support real-time functions, including predictive maintenance and smart sensing, delivering significant benefits across a wide range of applications. For example, these capabilities can enhance charging speed and efficiency in electric vehicles and enable rapid deployment of new features, whether in the factory or in the field. Original equipment manufacturers (OEMs) can introduce new functions and more intuitive behaviors through different AI models, reducing the need for additional sensors, modules, wiring, and integration effort.

“Shifting neural processing from centralized hubs to the edge of the vehicle enables sub millisecond-level decision-making, which is essential for the next generation of in-vehicle intelligence. Integrating AI hardware acceleration at the MCU level allows OEMs to deliver advanced capabilities, such as predictive maintenance for vehicle performance and smart sensing with virtual sensor applications. This enables very low latency sensing, actuation control, and other sophisticated features, without the cost and thermal burden of a full-scale SoC,” said Greg Basich, Associate Director, Counterpoint Research.

As the automotive industry embraces the shift toward software-defined vehicles (SDVs), Stellar P3E’s integrated xMemory, ST’s proprietary non-volatile memory based on phase-change memory (PCM), provides the essential scalability and flexibility needed. Offering twice the density of traditional embedded flash memory and qualified for automotive environments, this extensible memory solution enables dynamic expansion of software storage to accommodate new features and updates without requiring any hardware redesign.

The P3E is fully supported within the ST Edge AI Suite, a comprehensive edge-AI ecosystem that spans from dataset creation to on-device deployment for data scientists and embedded engineers. As part of this suite, NanoEdge AI Studio tool is now available for the entire Stellar MCU family. In addition, the Stellar P3E is already integrated into Stellar Studio, ST’s all-in-one development environment tailored for automotive engineers. Together they reinforce a robust hardware and software ecosystem designed to streamline the deployment of sophisticated edge AI solutions in demanding automotive environments.

The start of production of the Stellar P3E is planned in the fourth quarter of 2026.

Key technical highlights:

500 MHz Arm® Cortex®-R52+ cores delivering the highest CoreMark score in its class - exceeding 8,000 points.Split-lock architecture enabling designers to optimize the balance between functional safety and peak performance.Open Arm architecture, leveraging a vast global developer community for accelerated innovation.Rich I/O and analog capabilities support diverse functions, including advanced motor control for enhanced vehicle dynamics. About STMicroelectronics

At ST, we are 48,000 creators and makers of semiconductor technologies mastering the semiconductor supply chain with state-of-the-art manufacturing facilities. An integrated device manufacturer, we work with more than 200,000 customers and thousands of partners to design and build products, solutions, and ecosystems that address their challenges and opportunities, and the need to support a more sustainable world. Our technologies enable smarter mobility, more efficient power and energy management, and the wide-scale deployment of cloud-connected autonomous things. We are on track to be carbon neutral in all direct and indirect emissions (scopes 1 and 2), product transportation, business travel, and employee commuting emissions (our scope 3 focus), and to achieve our 100% renewable electricity sourcing goal by the end of 2027. Further information can be found at www.st.com.

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P4749A -- Feb 10 2026 -- Stellar P3E Automotive MCUs_FINAL FOR PUBLICATION Stellar P3E MCUs

Stellar P3E MCUs Stellar P3E automotive MCU with AI acceleration

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XRP price started a decent increase above $1.420. The price is now consolidating gains and might aim for more gains above the $1.50 zone.

XRP price started a decent upward move above the $1.40 zone. The price is now trading above $1.40 and the 100-hourly Simple Moving Average. There is a declining channel forming with support at $1.350 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair could continue to move up if it settles above $1.50. XRP Price Faces Hurdles XRP price started a recovery wave above $1.380 and $1.40, like Bitcoin and Ethereum. The price gained pace for a clear move above the $1.450 resistance.

The bulls even pumped the price above the $1.50 zone. A high was formed at $1.5435 and the price started a consolidation phase. There was a drop below the 23.6% Fib retracement level of the upward move from the $1.135 swing low to the $1.543 high.

The price is now trading above $1.40 and the 100-hourly Simple Moving Average. Besides, there is a declining channel forming with support at $1.350 on the hourly chart of the XRP/USD pair.

Source: XRPUSD on TradingView.com If there is a fresh upward move, the price might face resistance near the $1.450 level. The first major resistance is near the $1.50 level, above which the price could rise and test $1.5450. A clear move above the $1.5450 resistance might send the price toward the $1.650 resistance. Any more gains might send the price toward the $1.720 resistance. The next major hurdle for the bulls might be near $1.80.

Another Decline? If XRP fails to clear the $1.50 resistance zone, it could start a fresh decline. Initial support on the downside is near the $1.40 level. The next major support is near the $1.340 level or the 50% Fib retracement level of the upward move from the $1.135 swing low to the $1.543 high.

If there is a downside break and a close below the $1.340 level, the price might continue to decline toward $1.30. The next major support sits near the $1.250 zone, below which the price could continue lower toward $1.20.

Technical Indicators

Hourly MACD – The MACD for XRP/USD is now losing pace in the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is now above the 50 level.

Major Support Levels – $1.40 and $1.340.

Major Resistance Levels – $1.450 and $1.50.

Joerg Hiller Feb 10, 2026 05:30

Bitcoin shows oversold signals with RSI at 32.61, suggesting potential bounce toward $75,000 resistance within 4-6 weeks as technical indicators flash mixed signals. BTC Price Prediction Summary •...

Bitcoin shows oversold signals with RSI at 32.61, suggesting potential bounce toward $75,000 resistance within 4-6 weeks as technical indicators flash mixed signals.

BTC Price Prediction Summary • Short-term target (1 week): $72,500 • Medium-term forecast (1 month): $70,000-$78,000 range
• Bullish breakout level: $79,350 • Critical support: $68,171

What Crypto Analysts Are Saying About Bitcoin While specific analyst predictions are limited in recent days, on-chain metrics suggest Bitcoin is entering an accumulation phase. According to technical analysis platforms, the current price action shows signs of institutional interest returning near the $68,000-$70,000 range, which has historically acted as a strong demand zone.

Market sentiment indicators from CryptoQuant data platforms point to reduced selling pressure, while Glassnode metrics indicate long-term holders are maintaining their positions despite the recent 2.13% decline.

BTC Technical Analysis Breakdown Bitcoin's current technical setup presents a compelling case for a potential reversal. The RSI reading of 32.61 indicates oversold conditions without reaching extreme oversold territory, suggesting room for downside but also signaling that selling pressure may be exhausting.

The MACD histogram at 0.0000 shows bearish momentum is stalling, while the price position within the Bollinger Bands at 0.21 confirms Bitcoin is trading much closer to the lower band ($62,265) than the upper band ($96,435). This positioning often precedes mean reversion moves toward the middle band at $79,350.

Key resistance levels emerge at $70,989 (immediate) and $72,466 (strong), while support holds at $68,171 (immediate) and $66,830 (strong). The daily ATR of $5,335 suggests normal volatility conditions, providing clear risk parameters for traders.

Bitcoin Price Targets: Bull vs Bear Case Bullish Scenario If Bitcoin reclaims the $70,989 resistance level with volume confirmation, the path opens toward $75,000-$78,000. The 20-day SMA at $79,350 represents a critical Bitcoin forecast target, as breaking above this level would signal a return to bullish momentum.

A successful break above $79,350 could propel Bitcoin toward the upper Bollinger Band near $96,435, representing potential gains of 35-40% from current levels. This bullish BTC price prediction requires sustained buying pressure and broader crypto market recovery.

Bearish Scenario Failure to hold the $68,171 support could trigger a decline toward $66,830, with potential for further weakness to the $62,000-$64,000 zone aligning with the lower Bollinger Band. A break below $66,830 would invalidate the near-term bullish thesis and could lead to a test of the psychologically important $60,000 level.

Risk factors include continued macro headwinds, regulatory uncertainty, and potential selling pressure from leveraged positions if support levels fail to hold.

Should You Buy BTC? Entry Strategy For aggressive buyers, the current $69,500 level offers a reasonable risk-reward setup with tight stops below $66,830. Conservative investors may wait for a clear break above $72,466 to confirm the reversal.

Suggested entry strategy involves scaling into positions between $68,000-$70,000, with stop-losses placed below $66,500 to limit downside risk. Target profit-taking at $75,000-$78,000 aligns with the medium-term Bitcoin forecast.

Position sizing should remain modest given the mixed technical signals, with no more than 3-5% of portfolio allocated to this trade setup.

Conclusion This BTC price prediction suggests a 60% probability of Bitcoin reaching $75,000 within the next 4-6 weeks, supported by oversold technical conditions and approaching key resistance levels. However, failure to reclaim $72,466 could extend the consolidation phase.

The technical setup favors cautious optimism, but traders should maintain strict risk management given the current market volatility. This Bitcoin forecast carries moderate confidence given the mixed signals from momentum indicators.

Disclaimer: Cryptocurrency price predictions are highly speculative and subject to extreme volatility. This analysis is for educational purposes only and should not be considered financial advice. Always conduct your own research and never invest more than you can afford to lose.

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