Q2 2024 Maha Energy AB Earnings Call Transcript
Key Points
- Maha Energy AB (STU:7M7) has initiated a share buyback program, approved by the AGM, which is expected to enhance shareholder value.
- The company has a strong financial position with a net cash position of approximately $79 million and a pro forma cash flow plus short-term investments of around $127 million.
- Maha Energy AB (STU:7M7) has successfully restructured its debt, reducing the cost of debt from 13.5% to 6.9%, resulting in significant savings.
- The company has identified significant synergies and optimizations in its merger with 3R, expected to yield substantial financial benefits.
- Maha Energy AB (STU:7M7) has shown a stable production increase in the Illinois Basin, with a 65% revenue increase compared to the previous year.
- The company reported a negative EBITDA of around $860,000, primarily due to nonrecurring M&A-related expenses.
- Maha Energy AB (STU:7M7) experienced a net loss of $22.7 million, largely impacted by an unrealized loss on 3R shares.
- There are uncertainties and delays in obtaining necessary licenses for operations in Venezuela, which could impact future revenue.
- The company's financial results were affected by a decrease in 3R share prices, leading to an unrealized loss of $20 million.
- The Illinois production requires continuous drilling of new wells to maintain production levels, which could lead to increased costs.
(Spoken in foreign language)
Kjetil and Roberto, how are things in Rio de Janeiro?
(spoken in foreign language) Sibaji Maryville also, which is the wonderful city. So it is always (spoken in foreign language)
Yeah, very nice, thank you.
Well, Kjetil and Roberto, please walk us through perhaps even by your standards, a very extraordinary and eventful quarter. Go ahead. The scene is are your guys.
Well, thanks a lot for that, and thanks for a nice introduction and super happy to be here again and presenting. And thanks for the collaboration with you guys in Stockholm. Yes, it's been an eventful presentation. Let's go through a bit of the disclaimer first as we have to. Here we go. So well
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