Capricorn欣然发布以下运营和财务最新进展。

运营方面，
Capricorn在2025年的工作权益产量平均为20,175桶油当量/日（其中41%为液体），高于此前19,000桶油当量/日的产量指导中值。2025年的预期产量为21,003桶油当量/日，近期强劲的生产表现主要得益于自2025年7月以来钻探的新开发井以及在Badr El Din (BED)油田区域的注水开发项目。值得注意的是，自10月以来，天然气产量因BED15-31井的钻探而显著提升。该井从下巴哈利亚组（Lower Bahariya Formation）产出丰沛，并有望用于后续井的钻探，后续井的钻探工作将在2026年初优先进行。

2025年在北乌姆巴拉卡(NUMB)和东南霍鲁斯(SEH)区块的勘探钻井取得了令人鼓舞的成果，Capricorn正与作业者合作评估未来的勘探活动。在NUMB区块，合资企业在NUMB-6井钻探完成后，正在推进开发租赁申请。该井预计将于2026年初并网，后续钻探预计将于2027年进行。在SEH区块，SEH-6X井确定了活跃石油系统的延伸部分，其结果被认为足够积极，足以支持进入许可证的第二阶段。

财务更新：
公司于12月下旬收到埃及石油总公司（EGPC）支付的4300万美元。这使得Capricorn自2025年6月30日以来收到的款项总额达到1.56亿美元，使其应收账款降至2022年以来的最低水平，约为8400万美元（2025年上半年：1.82亿美元），不包括预期信用损失调整。Capricorn

已在年底前通过自愿支付1800万美元偿还了其全部未偿还的高级债务。此外，次级债务融资在2025年第四季度摊销了1000万美元，截至2025年12月31日，未偿债务余额为3000万美元。剩余余额目前计划在2026年和2027年分两期偿还。截至2025年12月31日，公司净现金头寸约为1.03亿美元（2025年上半年：3200万美元）。

Capricorn于去年12月宣布，已达成锁定协议，以支持Harbour Energy Plc（简称“Harbour”）收购Waldorf Production集团，并将根据Capricorn与Waldorf部分债权人商定的计算方法，支付约400万至500万美元的款项，以解决其对Waldorf的无担保债权。此次收购的完成尚需获得监管部门的批准，并可能需要进一步的重组计划获得批准。

展望：
上个月，埃及内阁批准了该综合特许经营协议，这是在议会批准和正式生效前的最后一步，预计将于2026年第一季度生效。公司致力于利用新条款提高产量和储量。

Capricorn is pleased to provide the following operational and financial update.

Operational update
Capricorn's working interest production averaged 20,175 boepd (41% liquids) in 2025, above the production guidance midpoint of 19,000 boepd. The 2025 exit rate was 21,003 boepd with recent strong production performance driven by new development wells drilled since July 2025 and a waterflood programme in the Badr El Din (BED) field area. Notably, gas performance since October has been enhanced by the drilling of BED15-31 which has produced strongly from the Lower Bahariya formation and offers the potential for follow-up wells that will be prioritised in early 2026.

Exploration drilling in 2025 produced encouraging results in the North Um Baraka (NUMB) and South East Horus (SEH) licences where Capricorn is working with the Operator to evaluate future activity. In NUMB, the joint venture is progressing a development lease application following the drilling of NUMB-6. This well should be tied-in early 2026 with follow-up drilling anticipated in 2027. In SEH, the SEH-6X well established the extension of an active petroleum system and was considered sufficiently positive to justify progressing to phase 2 on the licence.

Financial update
The Company received $43m from the Egyptian General Petroleum Corporation (EGPC) in late December. This brings the total amount received by Capricorn since 30 June 2025 to $156m, reducing its accounts receivable to the lowest position since 2022, at approximately $84m (H1/25: $182m), excluding expected credit loss adjustments.

Capricorn has repaid its entire outstanding Senior Debt Facility with a voluntary payment of $18m prior to the end of the year. Additionally, the Junior Debt Facility amortised by $10m in Q4 2025, leaving an outstanding debt balance of $30m on 31 December 2025. The remaining balance is currently scheduled for settlement in two instalments during 2026 and 2027. At 31 December 2025, the Company’s net cash position stood at approximately $103m (H1/25: $32m).

Capricorn announced in December that it had entered into a lock-up agreement to support Harbour Energy Plc’s (Harbour’s) acquisition of the Waldorf Production group and will settle its unsecured claims against Waldorf for a payment estimated to be around $4-5m, based on a methodology agreed between Capricorn and certain of Waldorf’s creditors. Completion of the acquisition is subject to regulatory consents and is likely to require the sanction of a further restructuring plan.

Outlook
Last month, the Egyptian Cabinet approved the integrated concession agreement, representing the final step prior to parliamentary approval and formal ratification expected in Q1 2026. The Company is committed to leveraging the new terms to enhance production and reserves.