Company Overview:

Bengal Energy Ltd. (TSX: BNG) is an international junior oil and gas exploration and production company with assets in Australia. The Company is committed to growing shareholder value through international exploration, production, and acquisitions. 

This Report covers the Price Action, Technical Indicators Analysis along with the Support Levels, Resistance Levels, and Recommendations on this stock.

Fundamental Highlights:

Cost Discipline and Operational Optimization Support Stability: Despite lower oil prices and modest production declines, Bengal demonstrated resilient operational management in Q3 fiscal 2026. Reduced operating expenses and a meaningful CAD 0.2 million cut in general and administrative costs helped offset revenue pressures, while funds from operations remained positive. With recently workovered wells returning to production and further optimization underway, the Company is positioned to benefit from improved volumes and stronger commodity pricing.

Key Investment Risks: Price Volatility, Technological Risk, Permitting & Regulatory Risk, Inflation, low volume, thin liquidity, etc 

BNG’s Technical Observation:

Bengal Energy appears to be forming a base near CAD 0.01 – CAD 0.015 after an extended downtrend, with recent price strength signalling potential trend stabilization. The stock has shown improving momentum, supported by RSI rising toward the 55–60 range, indicating growing buying interest without overbought conditions. A sustained move above recent highs could confirm a breakout and continuation of upside momentum.

Daily Price Chart

As per the above-mentioned price action and technical indicators analysis, a ‘Speculative Buy’ rating has been given Bengal Energy Ltd. (TSX: BNG) at the closing market price of CAD 0.015, as of 18^th February 2026. Individuals can evaluate the stock based on the support and resistance levels provided in the report in case of keen interest taking into consideration the risk-reward scenario. 

Markets are trading in a highly volatile zone currently due to certain Macro & Micro-economic data and prevailing geopolitical tensions. Therefore, it is prudent to follow a cautious approach while investing.

Note 1: Past performance is not a reliable indicator of future performance.

Note 2: The reference date for all price data, currency, technical indicators, support, and resistance levels as on February 18, 2026. The reference data in this report has been partly sourced from REFINITIV.

Note 3: Investment decisions should be made depending on an individual's appetite for upside potential, risks, holding duration, and any previous holdings. An 'Exit' from the stock can be considered if the Target Price mentioned as per the Valuation and or the technical levels provided has been achieved and is subject to the factors discussed above.

Note 4: Dividend Yield may vary as per the stock price movement. 

Note 5: Kalkine reports are prepared based on the stock prices captured either from REFINITIV or Trading View. Typically, REFINITIV or Trading View may reflect stock prices with a delay which could be a lag of 25-30 minutes. There can be no assurance that future results or events will be consistent with the information provided in the report. The information is subject to change without any prior notice.

Technical Indicators Defined: -

Support: A level at which the stock prices tend to find support if they are falling, and a downtrend may take a pause backed by demand or buying interest.

Resistance: A level at which the stock prices tend to find resistance when they are rising, and the uptrend may take a pause due to profit booking or selling interest.

Stop-loss: In general, it is a level to protect further losses in case of any unfavourable movement in the stock prices.