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Petrolia NOCO (PNO) investor relations material
Petrolia NOCO Q1 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Achieved record high production and earnings in Q1 2026, driven by the Talisker East well coming online in January 2026.
Net production reached 3,337 boe/day, up from 2,084 boe/day in Q4 2025.
Revenues rose to NOK 244.3 million, up from NOK 148.6 million in Q4 2025, supported by higher oil and gas prices due to Middle East disruptions.
EBITDA was NOK 167.2 million, and net profit was NOK 13.8 million, reversing a net loss in the previous quarter.
Financial highlights
Operating profit increased to NOK 108.1 million from NOK 12.5 million in Q4 2025.
Production cost decreased to NOK 50.1 million from NOK 68.9 million in Q4.
Exploration expenses fell to NOK 12.7 million from NOK 18.2 million in Q4.
Cash and cash equivalents rose to NOK 98.1 million from NOK 73.5 million at year-end.
Book equity increased to NOK 14.9 million from NOK 1.1 million in Q4.
Outlook and guidance
Several North Sea licenses are being matured for drill or drop decisions between December 2026 and March 2027.
Dugong prospect in PL 882 targets production start in Q4 2029, with co-development options under assessment.
- Lower Q4 revenues and production offset by new discoveries and future growth prospects.PNO
Q4 20253 Mar 2026 - Major oil discovery, higher production, and return to profit marked Q3 2025.PNO
Q3 202517 Nov 2025 - Q2 2025 posted a net loss amid lower oil prices, but Talisker discoveries boost reserves.PNO
Q2 202529 Aug 2025 - Q3 2024 revenue and profit declined on maintenance, but cash flow and new wells support future growth.PNO
Q3 202413 Jun 2025 - Q2 2024 delivered solid profits and production, with new sales agreements and field progress.PNO
Q2 202413 Jun 2025 - Revenue rose and net profit returned in Q1 2025, with five new licences awarded.PNO
Q1 20256 Jun 2025 - Net loss driven by Løvmeis costs, but new licences and Dugong progress support future outlook.PNO
Q4 20246 Jun 2025
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