Capricorn Energy PLC (CNE) Q2 2024 Earnings Call

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Watch the replay and follow the connected company analysis, news, and investor updates for Capricorn Energy Plc.

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Replay transcript excerpt

WEBVTT 00:00:00.031 -- 00:00:01.993 Good morning, afternoon, 00:00:01.993 -- 00:00:05.458 and thank you all for attending or listening in remotely. 00:00:05.458 -- 00:00:09.803 I'm joined here today by Eddie Oak, our CFO, who will walk you through the operational 00:00:09.803 -- 00:00:15.309 financial highlights, and Jeff Probert, our COO, who will provide a review of ongoing 00:00:15.309 -- 00:00:19.935 operations and summarize our plan to improve our production sharing contracts in Egypt. 00:00:19.935 -- 00:00:23.453 And by the way, for those listening, it's Randy Neely speaking. 00:00:23.453 -- 00:00:29.461 Over the past year and a half, the new board, myself and the rest of the management team 00:00:29.461 -- 00:00:35.169 have made a major effort to transform the culture, priorities and focus of Capricorn. 00:00:35.169 -- 00:00:38.894 The company has now returned over $600 million to shareholders through dividends and 00:00:38.894 -- 00:00:40.576 share buybacks. 00:00:40.576 -- 00:00:44.461 Our intention is to continue to provide returns as appropriate, including returning amounts 00:00:44.461 -- 00:00:49.185 associated with the Senegal contingent receipt expected in early 2025. 00:00:49.188 -- 00:00:52.973 The board will also assess the company's ability to continue to buy back shares upon 00:00:52.973 -- 00:00:57.876 the completion of the current buyback program, which is about 80% complete. 00:00:58.039 -- 00:01:02.404 With respect to priorities, we have, since my arrival, been working hard to improve our 00:01:02.404 -- 00:01:06.790 knowledge of our producing assets and our working relationships with both our partner 00:01:06.790 -- 00:01:08.752 and the government of Egypt. 00:01:08.752 -- 00:01:13.318 As part of that effort to improve our understanding of ou...