Atlantic Petroleum (ATLA DKK) Q3 2025 earnings summary

Executive summary

• Debt restructuring agreement reached in April 2025, reducing total debt by at least DKK 90MM upon completion.

• Activity and costs kept at a minimum; G&A cost for 9M 2025 was DKK 0.6MM.

• The Orlando field, a mature asset, is assumed to produce until end of 2026; replacement opportunities are being prioritized.

• Accounts prepared on a going concern basis, contingent on debt restructuring and Orlando field cash flows.

Financial highlights

• No revenue or gross profit reported for the period.

• Operating loss for 9M 2025 was DKK 3.3MM; net loss was DKK 2.1MM.

• Net assets/shareholders' equity at DKK -114.5MM as of 30 September 2025.

• Cash provided by operating activities was DKK -1.2MM; cash and cash equivalents at period end were DKK 118,000.

• Earnings per share (basic and diluted) for 9M 2025 was DKK -0.56.

Outlook and guidance

• Activity level to remain minimal for the rest of 2025 due to tight cash flow.

• Growth to be pursued through participation in production or near-production assets in low political risk Northern Hemisphere countries.

• Board prioritizing review of new opportunities post-debt restructuring.