Capricorn Energy PLC (CNE) Q4 2025 Earnings Call

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WEBVTT 00:00:00.200 -- 00:00:05.286 Good morning, and thank you all for joining us for Capricorn's 2025 Full Year 00:00:05.286 -- 00:00:10.352 Results presentation. I'm Randy Neely, and I'm joined today by our CFO, Eddie 00:00:10.352 -- 00:00:14.815 Oak, and our COO, Jeff Probert. 00:00:15.037 -- 00:00:18.641 First, let me take a moment to address the evolving situation in the Middle East, and 00:00:18.641 -- 00:00:22.666 particularly the conflict involving the US, Israel, and Iran. 00:00:22.666 -- 00:00:28.092 We are closely monitoring these developments, and our operations in Egypt remain stable 00:00:28.092 -- 00:00:34.162 and unaffected. It is very much business as usual for us on the ground in Egypt. 00:00:34.162 -- 00:00:38.746 Now, before we dive into the main presentation, I want to briefly address the recent 00:00:38.746 -- 00:00:43.671 media speculation regarding a potential offer for Capricorn. 00:00:43.671 -- 00:00:48.516 I understand there may be considerable interest, but due to takeover code, 00:00:48.516 -- 00:00:52.780 I am unable to provide any specific information beyond what was in the statement earlier 00:00:52.780 -- 00:00:58.543 this month. To reiterate, Ahmadiyya al-Masiyah 00:00:58.823 -- 00:01:04.172 also known as the Kafani Group, has made multiple unsolicited non-binding proposals 00:01:04.172 -- 00:01:07.216 for a potential all-cash offer for Capricorn. 00:01:07.216 -- 00:01:12.244 Discussions are ongoing, and the Capricorn board is actively seeking further clarity 00:01:12.244 -- 00:01:15.169 regarding Kafani's funding arrangements. 00:01:15.169 -- 00:01:20.417 Under the UK takeover code, they have until the 8th of April to 2026 00:01:20.417 -- 00:01:25.874 to make a firm offer. At this stage, there's no certainty that a firm offer will ...