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Panoro Energy (PEN) investor relations material
Panoro Energy Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary20 Nov, 2025
Executive summary
Achieved stable and diversified production and reserves across Gabon, Equatorial Guinea, and Tunisia, with continued asset development and exploration, including MaBoMo Phase II and Bourdon FID.
Focused on maximizing shareholder returns, returning around 33% of current market cap to shareholders since March 2023 through distributions and buybacks.
Strong production and free cash flow generation, with management emphasizing disciplined capital allocation and enhanced liquidity through recent bond issues.
Key projects like MaBoMo Phase 2 and the Bourdon discovery are advancing, supporting future growth.
CEO on temporary leave; executive chairman and management team ensuring continuity.
Financial highlights
9M 2025 revenue: $149.5 million; EBITDA: $70 million; Q3 2025 revenue: $63.5 million, EBITDA: $19.3 million.
Q3 EBITDA impacted by a non-cash inventory movement of -$14 million due to expensing of Q2 inventory.
CapEx for the first nine months: $29.7 million, mainly for the Bourdon discovery.
Cash at bank at September 30, 2025: $43.7 million; gross debt: $150.9 million.
Net cash from operations YTD: $23.9 million.
Outlook and guidance
Full-year 2025 group production expected to average slightly below 11,000 barrels of oil per day.
CapEx guidance for 2025 remains at $40 million.
Q4 2025 expected to be the busiest quarter for liftings, with around 1.1 million barrels to be lifted.
2025 crude oil liftings forecasted at 3.1 to 3.4 million barrels, subject to scheduling.
2026 guidance to be provided after budgeting cycle with partners, expected early next year.
November Gabon lifting price impact on Q4?
Estrella development timeline and production contribution
Cash flow generation outlook given 9M decline
EG-23 partner strategy details
Ceiba field: Long-term operational reliability
M&A: Target asset characteristics?
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Next Panoro Energy earnings date
Q4 202525 Feb, 2026
Next Panoro Energy earnings date
Q4 202525 Feb, 2026
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Frequently asked questions
Panoro Energy, through its subsidiaries, engages in the exploration, development, and production of oil and gas in North and West Africa. Panoro Energy operates as a independent oil company. The Company holds high quality exploration and production assets featuring oil production from fields in Equatorial Guinea, Gabon, Tunisia and Nigeria. Panoro lists its shares on the Oslo Stock Exchange with ticker PEN.
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