Capricorn Energy PLC (CNE) Q4 2024 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning and welcome to Capricorn's Energy's full year 2024 results presentation. We are joined by Capricorn's senior management team who will first present the results and then will be available for Q&A afterwards. I will now hand over to CEO Randy Neely to begin. Please go ahead. Good morning. And thank you all for attending or listening in remotely. I'm joined today by Eddie Oak, our CFO, who will walk through the operational and financial highlights, as well as Jeff Probert, our COO, who will provide a review of ongoing operations and provide more detail on the progress made to improve our production sharing contracts in Egypt. Over the past two years, the new board, myself, and the rest of the management team have made a major effort to transform the culture, priorities, and focus of Capricorn. This wheel is meant to capture very simply how we are approaching our business. We like to describe ourselves as a blue collar oil and gas company. We focus on the small details. We finance the business conservatively. We approach every project with technical rigor and apply strict capital discipline. We demand operational excellence from ourselves and our partners. In Egypt specifically, we administer the business strictly through a self-funding business model. And for new ventures, we will require the application of prudent approach to risk management. We cannot be completely risk averse. No risk will result in no return. The priority set out almost two years ago, including right-sizing the organization, exiting non-core, non-revenue activities and ventures, returning excess capital to shareholders, and refocusing the company on the assets at hand. These have all chiefly been achieved. The company returned over $600 million to shareholders through dividends and shar...