EGY — what changed in the latest 10-Q

Text added vs the prior filing · source: 10-Q · 2026-08-10

• We successfully drilled and completed the Ebouri-5H development well as part of our ongoing Phase Three Drilling Program, with production commencing in June 2026. Following the completion of operations at the Ebouri platform, the drilling rig was mobilized to the SEENT platform where we spudded the …

• In addition, the BWE Consortium completed its 3D seismic campaign across the Niosi and Guduma blocks in January 2026. The seismic data processing and interpretation are currently ongoing.

• The 2026 Egypt drilling program commenced in May 2026 with the drilling of the HE-9 development well, which was completed and brought on production in early June 2026. We subsequently initiated drilling of two additional development wells in June 2026, both of which were successfully completed in Ju…

• We also successfully executed a series of workovers, well interventions, well reactivations, water shut-off treatments, and production optimization activities that are contributing to the organic growth of our production and reserves.

• Following the completion of its planned dry dock refurbishment in February 2026, the Baobab FPSO returned to Côte d’Ivoire and was successfully reconnected to field infrastructure in early April 2026. Production resumed from all producer wells in June 2026. While production has restarted, the first …

Text removed vs the prior filing · source: 10-Q · 2026-05-11

• •the ability of the FPSO in Cote d’Ivoire to return to service within the expected timeframe;

• On February 4, 2026, the Company entered into an asset purchase agreement to sell all of our operating assets in Canada (the “Canada Assets Divestment”) to a third party purchaser for a purchase price of $24.4 million (C$33.4 million) to be settled in cash, subject to customary post-closing adjustme…

• In February 2026, the Company became the operator with a 60% working interest in the Kossipo field on the CI-40 Block with a field development plan to be completed in the second half of 2026.

• The Company paid a quarterly cash dividend of $0.0625 per share of common stock for the first quarter of 2026 ($0.25 annualized) on March 27, 2026 to stockholders of record at the close of business on February 27, 2026. The Company also announced its next quarterly cash dividend of $0.0625 per share…

• The Company’s Phase Three Drilling Program in Gabon commenced in the fourth quarter of 2025 with the drilling of the ET-15H development well in the 1V block of Etame in December 2025. The well was completed and placed on production in February 2026 confirming expectations from the pilot well results…

Text added vs the prior filing · source: 10-Q · 2026-08-10

• We are also exposed to foreign currency exchange risk on cash balances denominated in Egyptian pounds. Some collections of accounts receivable from the Egyptian Government are received in Egyptian pounds, and while we are generally able to use the Egyptian pounds received on accounts payable denomin…

• In Côte d’Ivoire, although our revenues and most expenditures are denominated in U.S. dollars, fluctuations in local currency exchange rates may indirectly affect the cost of services, labor, and materials incurred by the operator on our behalf.

• We maintain nominal balances of British Pounds Sterling to pay in-country costs incurred in operating our London office. Foreign exchange risk on these funds is not considered material.

• have a material adverse effect on our financial condition, the carrying value of our proved reserves, our undeveloped leasehold interests and our ability to borrow funds and to obtain additional capital on attractive terms.

• At June 30, 2026, the Company had open commodity derivative contracts covering our anticipated future production as follows:

Text removed vs the prior filing · source: 10-Q · 2026-05-11

• Related to our Canadian operations, our currency exchange risk relates primarily to certain cash and cash equivalents, accounts receivable, lease obligations and accounts payable and accrued liabilities denominated in Canadian dollars. At March 31, 2026, we estimate that a 10% decrease in the value …

• We are also exposed to foreign currency exchange risk on cash balances denominated in Egyptian pounds. Some collections of accounts receivable from the Egyptian Government are received in Egyptian pounds, and while we are generally able to use the Egyptian pounds received on accounts payable denomin…

• In Côte d'Ivoire, our currency exchange risk also relates primarily to certain cash and cash equivalents, accounts receivable and accounts payable and accrued liabilities denominated in Swedish Krona. We estimate that a 10% increase in the value of the Swedish Krona against the U.S. dollar would inc…

• We maintain nominal balances of British Pounds Sterling to pay in-country costs incurred in operating our London office. Foreign exchange risk on these funds is not considered material.

• At March 31, 2026, the Company had open commodity derivative contracts covering our anticipated future production as follows: