RH PetroGas (T13) H2 2025 earnings summary

Executive summary

• FY2025 remained profitable, with net profit of US$3.5m and EBITDAX of US$25.0m, despite lower oil prices, production interruptions and a US$12.2m exploration write-off.

• Operations are concentrated in two producing Indonesian PSCs; average working-interest production was 4,590 BOEPD, with power-system reliability a key operating priority.

Financial highlights

• Revenue fell 16.1% YoY to US$77.6m, mainly on a 13.9% decline in realised oil price to US$68/bbl and lower crude oil liftings.

• Gross profit declined to US$24.3m from US$35.9m; cost of sales decreased 5.8% to US$53.3m on lower field expenses and fewer workovers and well services.

• Net profit was US$3.5m versus US$18.3m; profit attributable to owners was US$2.5m versus US$14.6m, and EPS was US$0.30 cents versus US$1.74 cents.

• EBITDAX was US$25.0m versus US$33.0m; operating cash flow was US$21.3m versus US$33.8m.

Outlook and guidance

• New turbine generators and power-distribution upgrades are planned to stabilise supply, reduce downtime and potentially restore production from wells shut in for power constraints.

• Northwest Klagagi-1 is planned for Q2 2026; Birawa-1 is planned for H2 2026, subject to environmental permits. A 168 km² Mandala-Klatoa 3D seismic programme is planned for H2 2026.

• Chemical EOR pilot assessment is expected to take 30–35 months from its December 2025 start; chemical injection is expected in Q1 2026.

• A first and final dividend of S$0.003 per ordinary share was recommended for FY2025, subject to shareholder approval.