• While 1H25 production was only 24.7 mboe/d with BKR producing 16.7 mboe/d, Serica’s FY25 production guidance of 33-35 mboe/d implies a significant 2H25 uplift to 41.3–45.3 mboe/d, as Triton ramps up to full production and BKR rebounds. We continue to forecast 4Q25 production of ~48 mboe/d, supported by expected contributions of 21–22 mboe/d from BKR and ~25 mboe/d from Triton.
• Production in 2H25 will benefit from new wells coming onstream as a result of Triton drilling, with five successful ....
