We have updated our 2025E forecasts and valuation to include the Company’s latest guidance (released at the 2Q25 results) and the Central Block acquisition. In-line with TXP’s guidance we expect production to average 5,625boepd in 2025E (74% gas). Capex is expected to be US$28m, of which c60% is in relation to the drilling, completion and tie-in of the Cascadura-4 and Cascadura-5 wells. Funds flow from operations is expected to be in-line with TXP guidance at US$11.3m. We believe TXP will end th ....
