Business
Trading Statement
Kistos Holdings PLC reported strong Q1 2026 performance with pro forma production averaging 21.8 kboepd, maintaining its FY26 guidance of 19-21 kboepd. The company ended the quarter with $204 million in cash and adjusted net debt of $78 million, alongside pro forma EBITDA of approximately $75 million. Kistos is arranging investor meetings for a potential $300 million senior secured bond issuance to refinance existing Norwegian bonds. The acquisition of Blocks 3&4 and Block 9 in Oman is progressing, with Blocks 3&4 completion anticipated soon, adding an estimated 25.6 mmboe of 2P reserves valued at $5.80/boe. Disclaimer*
About this update from Kistos Holdings Plc
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF REGULATION 2014/596/EU, WHICH IS PART OF DOMESTIC UK LAW PURSUANT TO THE MARKET ABUSE (AMENDMENT) (EU EXIT) REGULATIONS (SI 2019/310) (UK MAR). UPON THE PUBLICATION OF THIS ANNOUNCEMENT, THIS INSIDE INFORMATION (AS DEFINED IN UK MAR) IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN. 22 April 2026 Kistos Holdings plc ("Kistos" or "the Company") Trading Statement Kistos (LON: KIST), an independent energy company focused on unlocking value within its existing portfolio and through value-accretive M&A, provides an operational and unaudited financial update for the Q1 period ended 31 March 2026. The Company also provides an update on the acquisition of interests of Blocks 3&4 and Block 9 in Oman, as announced on 9 December 2025. Highlights Q1 Production Update · Pro forma production(1) for Q1 2026 averaged 21.8 kboepd (Q1 2025: 7 kboepd excluding Oman) · FY26 proforma(1) production guidance remains at 19 - 21 kboepd(1) Q1 Financial Update As at, and for the 3 months ending 31 March 2026: · Cash, including near-cash equivalents, of $204 million(2) · Adjusted net debt(3) of $78 million (representing cash and near‑cash equivalents net of outstanding bond debt with a face value of $282 million) · Proforma EBITDA of approximately $75 million(1) Kistos has mandated ABG Sundal Collier and Fearnley Securities to arrange fixed income investor meetings from 22 April 2026, in connection with the potential issuance of a USD 300 million 4‑year senior secured bond, which will primarily be used to refinance existing Norwegian bonds(4). Oman acquisition update · Acquisition of Blocks 3&4 and Block 9 remain on track, with the completion of Blocks 3&4 anticipated to precede Block 9 due to the different EPSA framework. · All necessary approvals for the transfer of Blocks 3&4 have been obtained, including Ministerial Approval, with completion expected following issuance of the Royal Decree. · Once complete, the acquisition is expected to add 25.6 mmboe (operator estimates) of 2P reserves net to Kistos, with a valua...
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