Serica Energy plc (SQZZF) Q4 2025 Sales/Trading Call Transcript

Core Viewpoint - The company is experiencing operational disappointments in 2025 but is optimistic about its position going into 2026, highlighting successful M&A activities that align with strategic objectives [3][4]. Group 1: Operational Performance - The company acknowledges challenges in operational performance for 2025, indicating a level of dissatisfaction with results [3]. - Despite the operational setbacks, the company is pleased with its strategic positioning for 2026 [4]. Group 2: M&A Activities - The company withdrew from discussions with EnQuest in early May last year but successfully executed multiple deals that support its strategic goals [4]. - These M&A deals are expected to enhance the company's reserves, production, and cash flows, ultimately delivering value to shareholders [4].