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SEGMENT INFORMATION (Tables)

9 Months Ended

Sep. 30, 2025

Segment Reporting [Abstract]

Schedule of Segment Activity of Continuing Operations

Segment activity of continuing operations for the three and nine months ended September 30, 2025 and 2024, as well as long-lived assets and segment assets at September 30, 2025 and December 31, 2024 are as follows:

			Three Months Ended September 30, 2025
(in thousands)			Gabon						Egypt						Canada						Equatorial Guinea						Côte d'Ivoire						Corporate and Other						Total
Revenues:
Crude oil, natural gas and natural gas liquids sales			$	21,271					$	35,696					$	4,040					$	—					$	—					$	—					$	61,007
Operating costs and expenses:
Production expense			12,092						13,767						1,922						587						1,504						—						29,872
Exploration expense			167						—						—						—						186						—						353
Depreciation, depletion and amortization			7,145						9,308						2,832						—						861						409						20,555
General and administrative expense			779						296						46						63						572						7,089						8,845
Credit losses and other			196						—						—						288						—						—						484
Total operating costs and expenses			20,379						23,371						4,800						938						3,123						7,498						60,109
Operating income (loss)			892						12,325						(760)						(938)						(3,123)						(7,498)						898
Other income (expense):
Derivative instruments loss, net			—						—						—						—						—						(1,093)						(1,093)
Interest expense, net			(809)						(184)						—						—						(1,085)						(255)						(2,333)
Other income (expense), net			(154)						80						(60)						3						242						(78)						33
Total other income (expense), net			(963)						(104)						(60)						3						(843)						(1,426)						(3,393)
Income (loss) before income taxes			(71)						12,221						(820)						(935)						(3,966)						(8,924)						(2,495)
Income tax (benefit) expense			(3,902)						5,671						—						—						(5,077)						(288)						(3,596)
Net income (loss)			3,831						6,550						(820)						(935)						1,111						(8,636)						1,101
Consolidated capital expenditures			$	14,074					$	7,113					$	490					$	(61)					$	33,484					$	309					$	55,409

			Nine Months Ended September 30, 2025
(in thousands)			Gabon						Egypt						Canada						Equatorial Guinea						Côte d'Ivoire						Corporate and Other						Total
Revenues:
Crude oil, natural gas and natural gas liquids sales			$	132,026					$	102,873					$	14,935					$	—					$	18,396					$	—					$	268,230
Operating costs and expenses:
Production expense			59,746						38,898						6,533						1,274						8,618						1						115,070
Exploration expense			167						—						—						—						2,706						—						2,873
Depreciation, depletion and amortization			33,239						26,579						9,382						—						9,249						684						79,133
General and administrative expense			1,224						399						77						212						1,435						23,046						26,393
Credit (recovery) losses and other			(440)						—						—						925						—						—						485
Total operating costs and expenses			93,936						65,876						15,992						2,411						22,008						23,731						223,954
Operating income (loss)			38,090						36,997						(1,057)						(2,411)						(3,612)						(23,731)						44,276
Other income (expense):
Derivative instruments loss, net			—						—						—						—						—						(767)						(767)
Interest expense, net			(2,680)						(608)						—						—						(2,373)						(538)						(6,199)
Other income (expense), net			(917)						141						338						(2)						181						(369)						(628)
Total other income (expense), net			(3,597)						(467)						338						(2)						(2,192)						(1,674)						(7,594)
Income (loss) before income taxes			34,493						36,530						(719)						(2,413)						(5,804)						(25,405)						36,682
Income tax (benefit) expense			10,341						14,201						—						—						(15,312)						10,240						19,470
Net income (loss)			$	24,152					$	22,329					$	(719)					$	(2,413)					$	9,508					$	(35,645)					$	17,212
Consolidated capital expenditures			$	30,379					$	20,954					$	2,006					$	499					$	93,425					$	326					$	147,589

			Three Months Ended September 30, 2024
(in thousands)			Gabon						Egypt						Canada						Equatorial Guinea						Cote d'Ivoire						Corporate and Other						Total
Revenues:
Crude oil, natural gas and natural gas liquids sales			$	47,608					$	34,544					$	8,387					$	—					$	49,795					$	—					$	140,334
Operating costs and expenses:
Production expense			13,932						12,477						3,015						195						12,701						4						42,324
Exploration expense			—						—						—						—						—						—						—
Depreciation, depletion and amortization			12,796						8,729						6,106						—						19,184						216						47,031
General and administrative expense			241						(79)						(4)						62						1,061						5,648						6,929
Credit losses and other			—						—						—						69						—						—						69
Total operating costs and expenses			26,969						21,127						9,117						326						32,946						5,868						96,353
Other operating income, net			—						—						102						—						—						—						102
Operating income (loss)			20,639						13,417						(628)						(326)						16,849						(5,868)						44,083
Other income (expense):
Derivative instruments gain (loss), net			—						—						—						—						(169)						379						210
Interest (expense) income, net			(964)						(360)						—						—						2,029						(1,293)						(588)
Bargain Purchase Gain			—						—						—						—						—						—						—
Other income (expense), net			(72)						(101)						669						(4)						(37)						(597)						(141)
Total other income (expense), net			(1,036)						(461)						670						(4)						1,823						(1,511)						(519)
Income (loss) before income taxes			19,603						12,956						42						(330)						18,672						(7,379)						43,564
Income tax expense			12,932						3,613						—						—						8,454						7,575						32,574
Net income (loss)			$	6,671					$	9,343					$	42					$	(330)					$	10,218					$	(14,953)					$	10,990
Consolidated capital expenditures			$	8,859					$	1,698					$	3,014					$	38					$	11,158					$	1,839					26,606

			Nine Months Ended September 30, 2024
(in thousands)			Gabon						Egypt						Canada						Equatorial Guinea						Côte d'Ivoire						Corporate and Other						Total
Revenues:
Crude oil, natural gas and natural gas liquids sales			$	158,786					$	106,986					$	24,460					$	—					$	67,035					$	—					$	357,267
Operating costs and expenses:
Production expense			49,131						38,652						8,753						712						29,606						5						126,859
Exploration expense			—						48						—						—						—						—						48
Depreciation, depletion and amortization			39,591						25,481						15,297						—						25,233						385						105,987
General and administrative expense			1,194						297						(119)						233						1,185						18,440						21,230
Credit losses and other			20						4,812						—						390						—						—						5,222
Total operating costs and expenses			89,936						69,290						23,931						1,335						56,024						18,830						259,346
Other operating income (expense), net			(34)						—						102						—						—						—						68
Operating income (loss)			68,816						37,696						631						(1,335)						11,011						(18,830)						97,989
Other income (expense):
Derivative instruments loss, net			—						—						—						—						(169)						(211)						(380)
Interest (expense) income, net			(3,439)						(1,120)						38						—						489						1,392						(2,640)
Bargain purchase gain			—						—						—						—						—						19,898						19,898
Other income (expense), net			(303)						(101)						674						(2)						(338)						(3,856)						(3,925)
Total other income (expense), net			(3,742)						(1,221)						713						(2)						(18)						17,223						12,953
Income (loss) before income taxes			65,074						36,475						1,344						(1,337)						10,993						(1,608)						110,942
Income tax expense			38,956						19,395						—						—						5,404						360						64,115
Net income (loss)			$	26,118					$	17,080					$	1,344					$	(1,337)					$	5,589					$	(1,967)					$	46,827
Consolidated capital expenditures			$	20,248					$	7,894					$	22,728					$	38					$	18,310					$	3,840					$	73,058

Schedule of Long-lived Assets and Segment Assets

(in thousands)						Gabon						Egypt						Canada						Equatorial Guinea						Côte d'Ivoire						Corporate and Other						Total
Long-lived assets:
As of September 30, 2025						$	158,534					$	143,504					$	101,256					$	11,140					$	204,546					$	4,756					$	623,736
As of December 31, 2024						$	153,576					$	149,129					$	104,891					$	10,641					$	114,756					$	5,110					$	538,103

(in thousands)						Gabon						Egypt						Canada						Equatorial Guinea						Côte d'Ivoire						Corporate and Other						Total
Total assets:
As of September 30, 2025						$	290,380					$	258,128					$	105,756					$	13,547					$	237,578					$	45,044					$	950,433
As of December 31, 2024						$	300,568					$	269,905					$	113,310					$	12,331					$	187,264					$	71,572					$	954,950

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- Definition

Tabular disclosure of all significant reconciling items in the reconciliation of total assets from reportable segments to the entity's consolidated assets.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-Publisher FASB
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Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

+ References

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