CAPRICORN ENERGY PLC - FY2025 Results

Capricorn Energy PLC (CNE:LSE) delivered a strong 2025 investor update, highlighting improved company performance, solid financial results, and a clear growth strategy focused on Egypt and the UK North Sea. The company reported production of over 20,000 BOEs per day, supported by a $77 million capital programme, while maintaining a balanced liquids mix and guiding 2026 production at 18,000 to 22,000 BOEs per day. Revenue collections of $217 million significantly strengthened the balance sheet, enabling debt reduction and resulting in net cash of over $100 million, alongside improved margins and lower operating costs. Strategic progress included consolidation of production sharing contracts and increased development activity, supporting reserve growth and a strong reserves replacement ratio. Capricorn’s near debt free position, disciplined capital allocation, and focus on cash flow generation underpin its transition from turnaround to growth. The outlook remains positive with planned capital investment of up to $95 million, expansion opportunities, and a robust resource base, while ongoing discussions regarding a potential offer add further investor interest, although no firm agreement is confirmed.