Capricorn Energy PLC (CNE) Q4 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning, and thank you all for joining us for Capricorn's 2025 Full Year Results presentation. I'm Randy Neely, and I'm joined today by our CFO, Eddie Oak, and our COO, Jeff Probert. First, let me take a moment to address the evolving situation in the Middle East, and particularly the conflict involving the US, Israel, and Iran. We are closely monitoring these developments, and our operations in Egypt remain stable and unaffected. It is very much business as usual for us on the ground in Egypt. Now, before we dive into the main presentation, I want to briefly address the recent media speculation regarding a potential offer for Capricorn. I understand there may be considerable interest, but due to takeover code, I am unable to provide any specific information beyond what was in the statement earlier this month. To reiterate, Ahmadiyya al-Masiyah also known as the Kafani Group, has made multiple unsolicited non-binding proposals for a potential all-cash offer for Capricorn. Discussions are ongoing, and the Capricorn board is actively seeking further clarity regarding Kafani's funding arrangements. Under the UK takeover code, they have until the 8th of April to 2026 to make a firm offer. At this stage, there's no certainty that a firm offer will be made, nor clarity on the terms of any such offer should one materialize. So let's go to the first slide of the presentation. Now, turning to the purpose of today's presentation, 2025 was a significant year operationally, strategically, and financially. A lot of progress was made for the company, and a number of milestones across our Egyptian operations were met. 2025 marked a pivotal year for the company. I believe we have made the turn from a turnaround story to a serious growth opportunity in Egypt and hopefully shortl...