Bw Energy Ltd (BWEFF) Q1 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Okay. Good morning, everyone. Pleasure seeing you here live at Hotel Continental in Oslo. And also welcome to you who are following us on stream. My name is Martin Simonsen. I'm head of investor relations in BW Energy. And I'll take you through the Q&A session later. But first, we have a large part of our management team here today traveling in from Lisbon. So they'll take you to the Q1 2026 and strategy updates. So please save up some questions for them after the presentation. And with that, I'll leave the word to our CEO, Carl Arnott. Thank you, Martin. Again, a warm welcome to this presentation of first quarter and we have added a small update on our activities. Please note our disclaimer as usual. So today will be hosted by first our Chief Operating Officer Brice Morlot that will take you through the operational update. Then Jerome Berthaud will take you through the Maromba update and then Thomas Young will round it off with the financial update. I will have the pleasure of taking you through a little lead-in where I boast about our exploits, of course. And then Martin will be taking care of the... He will be the moderator for the questions, Q&A. So first quarter, all projects on plan and cost. We have been able to sanction Burdon and new Golfino wells. And we have lifted our production target to more than 100,000 barrels per day, sustained production into the next decade. We have a strong position financially and we are generating cash so the business looks good and we had a very decent operational performance in the first quarter. That's the bottom line. EBITDA 111 million net profit 33 and this will of course be gone through in detail and our end cash position was a healthy 161 million plus we have of course unused facilities on top of that. So BW Energy is de...