Announcement • Jul 01
Kistos Holdings Plc, Annual General Meeting, Jul 23, 2026 Kistos Holdings Plc, Annual General Meeting, Jul 23, 2026. Reported Earnings • Jun 28
Full year 2025 earnings released: US$0.02 loss per share (vs US$0.63 loss in FY 2024) Full year 2025 results: US$0.02 loss per share (improved from US$0.63 loss in FY 2024). Revenue: US$215.8m (flat on FY 2024). Net loss: US$1.82m (loss narrowed 97% from FY 2024). Revenue is forecast to grow 4.2% p.a. on average during the next 3 years, compared to a 2.2% growth forecast for the Oil and Gas industry in the United Kingdom. Over the last 3 years on average, earnings per share has fallen by 41% per year but the company’s share price has only fallen by 1% per year, which means it has not declined as severely as earnings. New Risk • Jun 26
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 40% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 40% per year for the foreseeable future. Minor Risk Significant insider selling over the past 3 months (UK£173k sold). Buy Or Sell Opportunity • Jun 15
Now 22% undervalued after recent price drop Over the last 90 days, the stock has fallen 8.4% to UK£2.40. The fair value is estimated to be UK£3.08, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 23% over the last 3 years. Meanwhile, the company became loss making. Recent Insider Transactions • May 13
CEO & Executive Director recently sold UK£173k worth of stock On the 8th of May, Peter Mann sold around 60k shares on-market at roughly UK£2.86 per share. This transaction amounted to 4.3% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. This was Peter's only on-market trade for the last 12 months. New Risk • Apr 12
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2025. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Minor Risks Latest financial reports are more than 6 months old (reported June 2025 fiscal period end). Share price has been volatile over the past 3 months (9.0% average weekly change). Announcement • Jan 08
Kistos Holdings Plc Provides Production Guidance for the Fiscal Year 2026 Kistos Holdings Plc provided production guidance for the fiscal year 2026. For the year, proforma production guidance remains at 19,000 boepd - 21,000 boepd. Proforma figures include production from the Oman Acquisition. The acquisition is expected to complete in the first quarter of 2026. New Risk • Dec 10
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of British stocks, typically moving 7.3% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. This is currently the only risk that has been identified for the company. Reported Earnings • Sep 26
First half 2025 earnings released: US$0.15 loss per share (vs US$0.21 loss in 1H 2024) First half 2025 results: US$0.15 loss per share (improved from US$0.21 loss in 1H 2024). Revenue: US$87.9m (down 22% from 1H 2024). Net loss: US$12.3m (loss narrowed 28% from 1H 2024). Revenue is forecast to grow 3.9% p.a. on average during the next 3 years, compared to a 3.3% growth forecast for the Oil and Gas industry in the United Kingdom. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 56 percentage points per year, which is a significant difference in performance. Announcement • Jun 06
Kistos Holdings Plc, Annual General Meeting, Jun 30, 2025 Kistos Holdings Plc, Annual General Meeting, Jun 30, 2025. Announcement • Apr 13
Kistos Holdings plc Reiterates Production Guidance for the Fiscal Year 2025 Kistos Holdings Plc reiterated production guidance for the fiscal year 2025. For the year company now expects production to be 8,000 boepd to 9,000 boepd. New Risk • Apr 11
New major risk - Revenue and earnings growth Revenue has declined by 46% over the past year. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If revenues are declining, then it is difficult for the company to prevent its earnings from declining as well. A trend of falling revenue can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Revenue has declined by 46% over the past year. Minor Risk Share price has been volatile over the past 3 months (8.4% average weekly change). New Risk • Feb 11
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of British stocks, typically moving 7.5% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. This is currently the only risk that has been identified for the company. Announcement • Jan 08
Kistos Holdings plc Provides Production Guidance for the Fiscal Year 2025 Kistos Holdings Plc provided production guidance for the fiscal year 2025. For the year, the company expects production to be in the range of 8,000 boepd to 9,000 boepd. Announcement • Jan 01
Kistos Holdings Plc Announces CFO Changes Kistos Holdings Plc announced James David Calvert Thomson will assume the position of Chief Financial Officer on January 1, 2025. James succeeds Richard Slape who has held this position since October 2021 and will be stepping down from his Board responsibilities. James was appointed to Kistos as Deputy CFO in October 2024, facilitating a smooth transition of roles with Richard over the past three months. James is an ACA-qualified accountant and a Fellow of the Institute of Chartered Accountants in England and Wales (ICAEW). Age is 40. Previous directorships within the last 5 years: JT CFO Advisory Limited. Announcement • Dec 31
Kistos Holdings Plc Announces Board Changes Kistos Holdings Plc announced James David Calvert Thomson will become a member of the Board of Directors on January 1, 2025. James succeeds Richard Slape who has held this position since October 2021 and will be stepping down from his Board responsibilities. James was appointed to Kistos as Deputy CFO in October 2024, facilitating a smooth transition of roles with Richard over the past three months. James is an ACA-qualified accountant and a Fellow of the Institute of Chartered Accountants in England and Wales (ICAEW). Age is 40. Previous directorships within the last 5 years: JT CFO Advisory Limited. New Risk • Nov 13
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: UK£77.2m (US$98.1m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. This is currently the only risk that has been identified for the company. Major Estimate Revision • Oct 02
Consensus EPS estimates fall by 189%, revenue upgraded The consensus outlook for fiscal year 2024 has been updated. 2024 revenue forecast increased from €185.6m to €193.5m. Forecast EPS reduced from -€0.09 to -€0.26 per share. Oil and Gas industry in the United Kingdom expected to see average net income growth of 38% next year. Consensus price target down from UK£3.43 to UK£2.89. Share price was steady at UK£1.14 over the past week. Major Estimate Revision • Sep 13
Consensus EPS estimates fall by 50% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from €190.1m to €185.6m. Losses expected to increase from €0.06 per share to €0.09. Oil and Gas industry in the United Kingdom expected to see average net income growth of 36% next year. Consensus price target down from UK£3.56 to UK£3.47. Share price fell 5.3% to UK£1.25 over the past week. Announcement • Jul 04
Kistos Holdings Plc, Annual General Meeting, Jul 19, 2024 Kistos Holdings Plc, Annual General Meeting, Jul 19, 2024. Announcement • Jun 28
Kistos Announces the Positive Results of a Soft Cycling Relaxation Trial Completed at its Hill Top Farm Gas Storage Facility Kistos announced the positive results of a soft cycling relaxation trial completed at its Hill Top Farm gas storage facility. The trial, conducted at the start of May, and overseen by independent geotechnical experts, has confirmed the ability to increase 'working gas' capacity by 24% from 17.8 million to 22 million therms, an increase of 4.2 million therms, which is expected to significantly increase the revenue from both intrinsic seasonal trades and extrinsic trading. This conversion of 4.2 million therms from cushion gas to working gas brings the Hill Top facility in line with original design parameters and will allow for the gas to be sold by Kistos at an optimal time in order to maximise intrinsic revenues, whilst our trading partner will aim to capture additional upside from market-driven price volatility. Whilst this is the first study undertaken since the acquisition of the Hill Top Farm and Hole House Farm facilities from EDF Energy (Gas Storage) Limited earlier this year, the trial represents the fifth phase of a project which was initiated under EDF ownership, and demonstrates the opportunity to realise significant near and medium term upside from the assets. Kistos is now evaluating the economics of recommissioning the Hole House facility. Hole House was developed specifically for gas storage and was operational from 2001 through to 2018 when a period of re-brining the caverns commenced. Three out of the total four caverns are now brine filled, with cushion gas sold to market. Hole House requires approximately one-third as much cushion gas as Hill Top for the same amount of working gas. This study is due to complete during H2 2024. Announcement • Jun 19
Kistos Holdings plc Announces Directorate Changes Kistos Holdings plc announced the appointment of Stephen Pawson to the Board as an independent Non-Executive Director with immediate effect. Stephen will replace Julie Barlow, who steps down from the Board to focus on other professional commitments. Mr. Pawson has 40 years' finance experience in the oil and gas exploration and production sector. He spent ten years both with Phillips Petroleum and ARCO British, fulfilling various financial roles in the UK and overseas. He then joined Star Energy, where he set up the finance function and was involved in its IPO in 2004, which was the largest on AIM that year. From 2017 to 2019, Mr. Pawson was the Finance Director of RockRose Energy plc where he was again involved in setting up the finance function, incorporating several acquisitions, and in various funding/financing activities. In August 2023, he was appointed a non-executive director of Axies Ventures Ltd, a startup company involved in non-ferrous minerals exploration. Stephen Hargrave Pawson (aged 68): Stephen Pawson does not own any shares in the Company. Current Directorships: Axies Ventures Ltd.; Evans & Pawson Ltd. Previous Directorships (within 5 years): Waters Evans Pawson & Filbin Ltd.; Lythe Hill Park Management Company Ltd.; Lythe Hill Park Ltd. Reported Earnings • May 13
Full year 2023 earnings: EPS and revenues miss analyst expectations Full year 2023 results: €0.30 loss per share (down from €0.31 profit in FY 2022). Revenue: €206.8m (down 50% from FY 2022). Net loss: €24.7m (down 195% from profit in FY 2022). Revenue missed analyst estimates by 10%. Earnings per share (EPS) were also behind analyst expectations. Revenue is forecast to grow 25% p.a. on average during the next 2 years, while revenues in the Oil and Gas industry in the United Kingdom are expected to remain flat. Announcement • Apr 25
Kistos Holdings Plc (AIM:KIST) completed the acquisition of EDF Energy (Gas Storage) Limited from EDF Energy (Thermal Generation) Limited. Kistos Holdings Plc (AIM:KIST) entered into a Sale and Purchase Agreement to acquire EDF Energy (Gas Storage) Limited from EDF Energy (Thermal Generation) Limited for £25 million on February 20, 2024. Under the terms, Kistos will acquire 100% of the share capital of EDF Energy. The Transaction is conditional on Kistos making a voluntary notification of the proposed acquisition under the National Security and Investment Act 2021. Panmure Gordon & Co Limited acted as financial advisor and joint broker to Kistos. Simon Folley, Ed Lukins and Jonathan Rosen acted as legal advisor to Kistos Holdings.Kistos Holdings Plc (AIM:KIST) completed the acquisition of EDF Energy (Gas Storage) Limited from EDF Energy (Thermal Generation) Limited on April 23, 2024. Kistos funded the acquisition from existing cash resources. New Risk • Apr 15
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2023. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. This is currently the only risk that has been identified for the company. Announcement • Feb 20
Kistos Holdings Plc (AIM:KIST) entered into a Sale and Purchase Agreement to acquire EDF Energy (Gas Storage) Limited from EDF Energy (Thermal Generation) Limited for £25 million. Kistos Holdings Plc (AIM:KIST) entered into a Sale and Purchase Agreement to acquire EDF Energy (Gas Storage) Limited from EDF Energy (Thermal Generation) Limited for £25 million on February 20, 2024. Under the terms, Kistos will acquire 100% of the share capital of EDF Energy. The Transaction is conditional on Kistos making a voluntary notification of the proposed acquisition under the National Security and Investment Act 2021. Panmure Gordon & Co Limited acted as financial advisor and joint broker to Kistos. Announcement • Feb 13
Kistos Holdings plc Provides Balder Field Operational Update Kistos Holdings Plc announced that the upgrade of the Joutun FPSO is 90% complete and that first oil is now anticipated to be the end of Fourth Quarter 2024. Kistos is encouraged by recent activity, in particular the progress the Operator has made in working to convert more of the established 2C resources into sanctioned reserves through the ongoing drilling programme. The Company will continue to update the market in line with the Operator. In the event that first production is not achieved until 2025, due to the structure agreed upon through the acquisition of Mime Petroleum A.S. in 2023, the economics of the acquisition mitigate any effects of a delay by reducing the contingent consideration payable by Kistos to the Mime Petroleum bondholders. Announcement • Jan 18
Kistos Holdings plc Announces Development Approval for Victory Gas Field Kistos Holdings plc notes the North Sea Transition Authority (NSTA) decision to grant development and production consent for the Victory Gas Field, operated by Shell UK Limited. This follows an environmental impact assessment by the Offshore Petroleum Regulator for Environment and Decommissioning ("OPRED"). The Victory Gas Field is situated approximately 29 miles northwest of the Shetland Islands and is estimated to contain a P50 recoverable resource of 179 billion cubic feet, equivalent to approximately 7% of the UK's annual natural gas consumption. The gas produced from Victory will be developed as a single subsea tie-back well to GLA infrastructure and transported to the Shetland Gas Plant. The field is expected to reach first gas in the middle of the decade and will see peak production levels of circa 150 million cubic feet of gas per day. Production from the Victory field will significantly increase throughput at the Shetland Gas Plant, further extending the life of the Greater Laggan Area whilst reducing overall unit operating expenditure. Announcement • Dec 18
Kistos Holdings plc Restarts Production At Shetland Gas Plant Kistos a joint venture partner in the Greater Laggan Area and co-owner of the Shetland Gas Plant, provided an update on the recent shutdown of the plant. Following repair to the heating medium system, the Shetland Gas Plant safely restarted the export of gas on the 16th December. For the purposes of UK MAR, the person responsible for arranging the release of this announcement on behalf of Kistos is Andrew Austin, Executive Chairman. Reported Earnings • Oct 01
First half 2023 earnings released: EPS: €0.16 (vs €0.63 in 1H 2022) First half 2023 results: EPS: €0.16 (down from €0.63 in 1H 2022). Revenue: €105.1m (down 24% from 1H 2022). Net income: €13.1m (down 75% from 1H 2022). Profit margin: 12% (down from 38% in 1H 2022). Revenue is forecast to grow 9.8% p.a. on average during the next 3 years, compared to a 2.6% decline forecast for the Oil and Gas industry in the United Kingdom. Announcement • Sep 28
Kistos Holdings Plc Maintains Production Guidance for the Full Year of 2023 Kistos Holdings Plc maintained production guidance for the full year of 2023. For the year, the company expects production to be in the range of 8,500 boepd to 10,500 boepd. Major Estimate Revision • Jul 23
Consensus revenue estimates decrease by 20% The consensus outlook for fiscal year 2023 has been updated. 2023 revenue forecast fell from €375.3m to €298.7m. EPS estimate reaffirmed at €1.77. Net income forecast to grow 232% next year vs 32% decline forecast for Oil and Gas industry in the United Kingdom. Consensus price target down from UK£6.39 to UK£5.59. Share price rose 5.5% to UK£2.38 over the past week. Announcement • Jun 20
Kistos Holdings plc Announces the Conclusion of Exploration Drilling on the Benriach Well, West of Shetland Kistos Holdings plc announced the conclusion of exploration drilling on the Benriach well ("the well"), West of Shetland. The well encountered gas bearing sands in the target Royal Sovereign formation. However the discovered resource is expected to be sub-commercial. The well has been drilled ahead of schedule and the final cost is expected to be within previous guidance. Kistos Energy Limited holds a 25% non-operated working interest in licence P.2411, partnered with TotalEnergies ("operator", 50%) and Rockrose Energy (25%). The Transocean Barents rig was mobilised from Olen, Norway and spud the well on 21 March. A total measured depth of 4,400 metres was reached, and an extensive data acquisition programme has been conducted. This confirmed the presence of gas-bearing sands in the target Royal sovereign formation. Analysis of the acquired data will now be undertaken by the operator. Highlights: Gas bearing reservoir confirmed in the Royal Sovereign formation; Excellent operational performance by the Transo ocean Barents rig, resulting in completion of activities ahead of schedule; Zero Lost Time Incidents /First Aid Cases reported by either staff or contractors to date; Extensive data acquisition programme completed, including rotary sidewall cores, full wireline coverage, live pressures and fluid samples. Announcement • Jun 06
Kistos Holdings Plc, Annual General Meeting, Jun 30, 2023 Kistos Holdings Plc, Annual General Meeting, Jun 30, 2023, at 10:00 Coordinated Universal Time. Valuation Update With 7 Day Price Move • Apr 19
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to UK£3.30, the stock trades at a forward P/E ratio of 2x. Average forward P/E is 4x in the Oil and Gas industry in the United Kingdom. Total loss to shareholders of 22% over the past year. Board Change • Dec 23
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 3 non-independent directors. Executive Chairman Andrew Austin was the last director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. 
