Q3 2025 Petronor E&P ASA Earnings Call Transcript

Nov 20, 2025 / 09:00 AM GMT

Transcript

Key Points

Positve

PetroNor E&P ASA (FRA:FQ00) completed a 5-well infill drilling program, significantly boosting production with three wells already contributing over 5,000 barrels of oil per day.
The company completed its first oil lifting of the year, selling 540,000 barrels, which is expected to add approximately $33 million to the balance sheet.
PetroNor E&P ASA (FRA:FQ00) maintains a strong financial position with zero debt and a cash balance of $46 million at the end of the quarter.
The company has successfully reduced administrative costs by 6.3%, aligning with its strategy to maintain a focused team and reduce legal expenses.
PetroNor E&P ASA (FRA:FQ00) has returned significant capital to shareholders, with a total shareholder return of about 47% over the last 12 months.

Negative

The company experienced a slight decline in production due to normal reservoir depletion, although this was mitigated by the new drilling program.
PetroNor E&P ASA (FRA:FQ00) faces uncertainty regarding the extension of its A4 license in The Gambia, which could lead to a potential write-off of nearly $7 million.
The company has a negative inventory of approximately 150,000 barrels due to a slight overlift, impacting short-term inventory levels.
There is ongoing uncertainty surrounding the investigation initiated by Erkercrim in 2021, with no new information on its timeline or outcome.
PetroNor E&P ASA (FRA:FQ00) is not actively pursuing mergers and acquisitions, potentially limiting growth opportunities through external expansion.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

PNOR.OL - Petronor E&P ASA
Q3 2025 Petronor E&P ASA Earnings Call
Nov 20, 2025 / 09:00AM GMT

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Presentation
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Unidentified_1 [1]
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Good morning. My name is Jens Pace. I'm the CEO of Petronor. And it's good to be back in Oslo to review our 3rd quarter results with you today. We sent out a report earlier this morning, and I have a fairly standardized slide pack to discuss those results. But the main point of being here is to answer your questions. So please do send them in and we'll get to them as quickly as possible.

Thanks for your patience with a slightly later time this morning. We normally do this at 9 o'clock. It was pointed out to us by, Theodore Sven Nilsson of Sparebank that we were clashing with another company, so, we moved it to avoid that conflict, and, so I hope that means that, Theodore, you can be watching us and thanks for following us.

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