1H19 production of 23.7 mboe/d is consistent with production reported at Catcher and Kraken by Premier and EnQuest. 1H19 net cash from operation less lease repayment was US$142.9 mm, with the difference with our expectations of US$164 mm mostly due to a US$35 mm negative movement in working capital. At the end of June, the company has net debt of US$2 mm (GMP FEe: net cash of US$60 mm with the differences down to capex timing and working capital).
10 Sep 2019
FLASH: 1H19 results in line, FY19 guidance up
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FLASH: 1H19 results in line, FY19 guidance up
Capricorn Energy PLC (CNE:LON) | 169 -2.4 (-0.8%) | Mkt Cap: 155.5m
- Published:
10 Sep 2019 -
Author:
Stephane Foucaud -
Pages:
2
1H19 production of 23.7 mboe/d is consistent with production reported at Catcher and Kraken by Premier and EnQuest. 1H19 net cash from operation less lease repayment was US$142.9 mm, with the difference with our expectations of US$164 mm mostly due to a US$35 mm negative movement in working capital. At the end of June, the company has net debt of US$2 mm (GMP FEe: net cash of US$60 mm with the differences down to capex timing and working capital).