Hartshead Resources (HHR) Q4 2025 TU earnings summary

Executive summary

• Constructive commercial discussions continued with RockRose Energy regarding the P2607 Licence development, with procedural timelines paused to facilitate negotiations.

• Focus remains on developing the UK Southern North Sea Production Seaward License P2607, which contains four existing gas fields.

Financial highlights

• Cash and cash equivalents at quarter end totaled A$15.8 million, with over A$4 million in financial investments.

• Net cash used in operating activities for the quarter was A$219,000; net cash used in investing activities was A$110,000.

• Payments to related parties during the quarter amounted to A$327,000, primarily for directors' fees and salaries.

• Exploration and evaluation expenditure during the quarter was A$250,000 post joint venture contributions.

Outlook and guidance

• Estimated quarters of funding available is 33, indicating strong liquidity for ongoing operations.

• No substantive oil and gas production activities were undertaken during the quarter; focus remains on advancing development projects.