Business
Operational and Financial Update
Capricorn Energy PLC reported 2025 working interest production of 20,175 boepd, exceeding guidance, with strong recent performance driven by new wells and a waterflood program. Exploration efforts yielded encouraging results in the North Um Baraka and South East Horus licences, with development and further drilling planned. Financially, the company received $43m from EGPC, reducing accounts receivable to approximately $84m, and repaid its Senior Debt Facility while its Junior Debt Facility now stands at $30m. Capricorn's net cash position improved significantly to approximately $103m. The company also expects to settle unsecured claims against Waldorf for an estimated $4-5m. Parliamentary approval for an integrated concession agreement is anticipated in Q1 2026. Disclaimer*
About this update from Capricorn Energy Plc
[{"type":"text","content":"\nFOR IMMEDIATE RELEASE 5 January 2026\n \n \nCAPRICORN ENERGY PLC (\"Capricorn\" or \"the Company\")\n \nOperational and Financial update\n \nCapricorn is pleased to provide the following operational and financial update.\n \nOperational update\nCapricorn's working interest production averaged 20,175 boepd (41% liquids) in 2025, above the production guidance midpoint of 19,000 boepd. The 2025 exit rate was 21,003 boepd with recent strong production performance driven by new development wells drilled since July 2025 and a waterflood programme in the Badr El Din (BED) field area. Notably, gas performance since October has been enhanced by the drilling of BED15-31 which has produced strongly from the Lower Bahariya formation and offers the potential for follow-up wells that will be prioritised in early 2026.\n \nExploration drilling in 2025 produced encouraging results in the North Um Baraka (NUMB) and South East Horus (SEH) licences where Capricorn is working with the Operator to evaluate future activity. In NUMB, the joint venture is progressing a development lease application following the drilling of NUMB-6. This well should be tied-in early 2026 with follow-up drilling anticipated in 2027. In SEH, the SEH-6X well established the extension of an active petroleum system and was considered sufficiently positive to justify progressing to phase 2 on the licence.\n \nFinancial update\nThe Company received $43m from the Egyptian General Petroleum Corporation (EGPC) in late December. This brings the total amount received by Capricorn since 30 June 2025 to $156m, reducing its accounts receivable to the lowest position since 2022, at approximately $84m (H...