Petronor E&P Asa (PTEAF) Q4 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning. My name is Jens Pace. I'm the CEO of Petronor. And it's good to be back here in a somewhat wintry Oslo to follow up the fourth quarter results report that we put out at 6.30 this morning. I have a brief presentation, which we'll go through. But my main purpose here is to answer your questions. So please send them in. And we'll deal with them after a few slides. So first, the disclaimer, and I can't imagine there's many of you that look at these things, but there is a change from the last time we had this up on a screen. With the relinquishment of our position in the Gambia, the A4 license in the Gambia, we've removed references to Dr. Adam Law of ERCE, who did our independent assessment of prospective resources. So he no longer appears on the disclaimer. Those eagle-eyed of you might have noticed that. So first of all, an outline of the presentation, and while the fourth quarter results show a very strong operational story, I can't avoid dealing with the announcement that we made a couple of weeks ago regarding UrcaCrim's decision to indict a subsidiary of the company. So we're going to deal with that up front and then get into the operational update, financial performance, a brief overview of the portfolio, and then a summary. So look forward to your questions at the end of that. So first up, then, an update on the IRCA-Crim investigation. So as you know, IRCA-Crim has decided to indict Hemler Africa Holding, AS, which is a subsidiary of Petronor. It's an indirect subsidiary that holds our shares in the Congolese company that has our share of the PNGF sued license in Congo. It's been indicted in relation to suspected corruption committed on behalf of the company. And the company categorically contests this indictment and welcomes the opportunity to hav...