RH Petrogas - UOB Kay Hian 2025-03-05: Cost Control The Highlight With Two Wells To Watch In July

• Although RH PetroGas’s production declined on a y-o-y basis, as did oil prices, its strong cost control (-16% y-o-y) resulted in the company reporting a more than fourfold increase in PATMI to US$14.6m and above our expectation.
• - Read this at SGinvestors.io -

Better-than-expected results.

• RH PetroGas (SGX:T13) reported a 4.6x increase in PATMI to US$14.6m which was helped by the higher oil prices as well as a larger-than-expected drop in lifting costs which speaks to management’s operational ability.
• - Read this at SGinvestors.io -

Drilling two wells in 2025.

• At the company’s results briefing, management stated that it will drill two onshore wells at the Arar area in its Salawati block. These include:
  1. the NW Klagagi well which will target 55bcf of low-risk gas for development and a deeper segment with an estimated 120bcf of gas; and
  2. the Karim well which will target around 10mmbbl of recoverable oil. If both are successful, RH PetroGas could see an additional 39mmboe to its reserves, or 1.3x more than its current 2P reserves of 29.9mmboe.

Good cost control.

• Read more at SGinvestors.io.

Above is an excerpt from a report by UOB Kay Hian Research.
Clients of UOB Kay Hian may be the first to access the full PDF report @ https://www.utrade.com.sg/.

Read also UOB's most recent report:
2026-03-13 RH Petrogas - Delivers Profit Despite Exploration Write-offs In 2025 .

Previous report by UOB:
2025-08-19 RH Petrogas 1H25 - Cash-fuelled Resilience With Two Exploration Wells In Sep/Oct 25.

Price targets by other brokers at RH PetroGas Target Prices.

Listing of research reports at RH PetroGas Analyst Reports.

Relevant links:
RH PetroGas Share Price History,
RH PetroGas Announcements,
RH PetroGas Dividend Payout Dates & Corporate Actions,
RH PetroGas News