Latest Financial Guarantees News

The Northern Finland Administrative Court has overturned Kingsrose Mining’s exploration permit for the Penikat Project due to procedural errors by the regulator, delaying planned drilling until at least April 2026. Kingsrose remains confident in the project’s long-term potential despite the setback.

Karoon Energy reported a 12% production dip in Q3 2025 due to operational challenges but saw a 3% revenue increase driven by higher oil prices and secured a new deepwater block in Brazil.

Seafarms Group Limited reported a reduced loss of $11.7 million for FY2025, despite a 43% drop in revenue and ongoing legal challenges surrounding Project Sea Dragon. Production setbacks from flooding and subdued market demand weighed heavily on results.

Metal Bank Limited has announced its withdrawal from exploration activities in Jordan, citing geopolitical instability and financial guarantees demanded by local authorities as key reasons.

Karoon Energy has successfully acquired 100% interests in six offshore blocks in Brazil’s Santos Basin, reinforcing its strategic position and increasing its 2025 capital expenditure guidance to US$120-140 million.