Capricorn Energy PLC (CNE) Q2 2025 Earnings Call

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WEBVTT 00:00:00.031 -- 00:00:05.583 Good morning and welcome to the Capricorn Energy Half Year Results presentation. 00:00:05.583 -- 00:00:09.812 I'll now hand over to Randy Neely, Chief Executive Officer. 00:00:09.812 -- 00:00:12.113 Please go ahead. 00:00:12.639 -- 00:00:17.733 Good morning and thank you for attending our mid-year 2025 results call. 00:00:17.733 -- 00:00:22.543 I am joined today by Eddie Oak, our CFO, who will walk through the financial and operations 00:00:22.543 -- 00:00:27.775 highlights, as well as Jeff Probert, our COO, who will provide a review of ongoing 00:00:27.775 -- 00:00:31.503 operations and provide more detail on the progress made to improve our production sharing 00:00:31.503 -- 00:00:35.792 contracts in Egypt. In addition, Nathan Piper, Director of Commercials, is also available 00:00:35.792 -- 00:00:38.373 for the Q&A session. 00:00:39.755 -- 00:00:44.202 Since myself, the new management team, Jeff, Eddie, Nathan, and our entire board joined 00:00:44.202 -- 00:00:47.246 the company beginning in 2023, we've 00:00:47.246 -- 00:00:51.693 made it very clear what our goals were. We intended to improve upon the base business 00:00:51.693 -- 00:00:56.920 in Egypt, reduce overhead and scale down, or eliminate all non-viable activities 00:00:56.920 -- 00:01:02.368 of the company. To do that, we set out with our JV partner in Egypt, Chiron, 00:01:02.368 -- 00:01:07.536 to negotiate a new consolidated production sharing contract for the eight 50-50 jointly 00:01:07.536 -- 00:01:12.555 held contracts. That has been a major undertaking, and we announced earlier this 00:01:12.555 -- 00:01:16.921 year that we had achieved a major milestone with the government approval of those terms. 00:01:16.921 -- 00:01:21.727 Jeff will provide more detail on t...