Post by Kistos

Ahead of its results for the year ended 31 December 2025, Kistos has today released a trading and operational update.   The Company has successfully executed on all four of stated priorities: achieving Balder Future first oil, meeting the higher end of our full-year production guidance, continuing to convert 2C resources to 2P reserves, and executing a value-accretive M&A transaction while continuing to invest in our existing asset base.   Other highlights include: ▪️ Binding agreement to acquire interests in Block 9 and Blocks 3 & 4 onshore Oman, which will add 25.6 mmboe of 2P reserves at $5.80/boe ▪️ Balder area production exceeded 11,000 boepd (net) after Jotun FPSO start‑up ▪️ 2025 proforma exit production rate was 22,700 boepd, including Oman interests and augmented by the ramp-up of two of the six Balder Phase V wells ▪️ FY26 proforma production guidance remains at 19,000 boepd - 21,000 boepd ▪️ $199m cash and near‑cash at year‑end, and adjusted net debt at ~$81m ▪️ FID taken on Balder Phase VI to develop circa 1.5 mmboe (net), to be drilled in 2026   Looking to 2026, Kistos will continue to focus on further near-term value accretive M&A opportunities in both the North Sea and MENA regions that enhance the group and shareholder value.   You can read the full update here: https://lnkd.in/eJBNtBux