Seplat Energy Plc (SEPL) Q4 2022 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning, everyone. Welcome to the 2022 results conference call for Cepta Energy. So turn to slide four and run through some group highlights. So first of all, we're declaring a dividend of 7.5 cents, which is a special dividend. It's made up of a 2.5 cents final dividend, and then we've topped it up with a special dividend of 5 cents. Total production is at 16.1 million barrels of oil equivalent for the year, which is slightly down on last year, largely down to the three shut-ins that we had, and Sam will deal with that when he goes through it. The revenue is up almost 30% on last year, largely to do with the higher oil prices, and then EBITDA numbers around 418, slightly up, to 12.1%. In terms of the 2022 achievers, we continue to pursue the mobile producing acquisition. We'll deal with that later in the slide. We're looking obviously at our new energy investment plan. We announced that at our strategy day and we've made a good inroads in terms of looking at new energy opportunities and we're looking to take FID and at least one of them by the end of this year. In terms of the PIA volatility conversion, obviously the PIA went in 2021, its ability to do a volatility conversion, we've opted to do that, and we did that in February. Work is ongoing to separate the midstream gas business. Under PIA, envisage is a separation of midstream away from upstream, and working hard to deliver that. We believe that will create a lot more value for shareholders in the longer term. We're going to disclose the first climate risk report and that'll be end of March this month, or actually next month, and it'll be under TCFD guidelines. We've commenced our implementation of achieving a zero and that's largely to do with taking a look at the flares. We've had some board changes. obv...