Business
2025 Audited Results
Enwell Energy plc reported a significant decline in its 2025 audited results, with revenue falling 92% to $3.3 million from $44.9 million in 2024, primarily due to license suspensions by Ukrainian authorities and the ongoing war. This led to a net loss of $4.5 million, a reversal from a $23.7 million profit in the prior year, and an operating loss of $1.5 million compared to a $29.1 million profit. Production volumes also dropped substantially to 48,962 boe from 722,753 boe in 2024. The company ended the year with $97.1 million in cash and cash equivalents and is pursuing legal action to challenge the license suspensions. Disclaimer*
About this update from Enwell Energy Plc
[{"type":"text","content":"\n\n13 May 2026\nENWELL ENERGY PLC\n \n2025 AUDITED RESULTS\n \nEnwell Energy plc (\"Enwell Energy\" or the \"Company\", and together with its subsidiaries, the \"Group\"), the AIM-quoted (AIM: ENW) oil and gas exploration and production group, today announces its audited results for the year ended 31 December 2025.\n \n2025 Highlights\n \nOperational\n \n· Aggregate average daily production of 1,865 boepd (2024: 2,288 boepd (in each case calculated on the days when the Group's fields were actually in production))\n \n· Aggregate production volumes for the year of 48,962 boe (2024: 722,753 boe)\n \nFinancial\n \n· Revenue of $3.3 million (2024: $44.9 million), down 92%, primarily as a result of significantly lower production following licence suspensions by Ukrainian Government authorities\n \n· Gross profit of $1.2 million (2024: $28.2 million), down 96%\n \n· Operating loss of $1.5 million (2024: $29.1 million profit), down 105%, predominantly as a result of lower production following licence suspensions by Ukrainian Government authorities\n \n· Net loss of $4.5 million (2024: $23.7 million profit)\n \n· Cash and cash equivalents of $97.1 million as at 31 December 2025 (2024: $99.4 million), and of $92.0 million as at 8 May 2026 \n \n· Average realised gas, condensate and oil prices in Ukraine were $377/Mm3 (UAH15,836/Mm3), $63/bbl and $64/bbl respectively, with no LPG produced in the year (2024: $318/Mm3 (UAH12,767/Mm3) gas, $101/bbl condensate and $69/bbl oil)\n \nOutlook\n \n· The Russian invasion of Ukraine in February 2022 has had, and continues to have, a significant impact on all aspects of life in Ukraine, including the Group's business and operations. The scale and duration of disruption to the Group's business continues to be difficult to predict, and there remains significant uncertainty about the outcome of the war in Ukraine\n \n· In November 2024, the Ukrainian authorities issued orders to suspend the MEX-GOL, SV and VAS production lic...