In "Earnings Surprise," CHK OIL is expected to record a net profit of no less than HKD 16.2 million last year

CHK OIL (00632.HK) announced that for the year ending December 31, 2025, it expects to record a net profit attributable to company owners of no less than HKD 16.2 million, compared to a net loss attributable to company owners of approximately HKD 21.5 million for the same period in 2024.

The group stated that the expected turnaround from loss to profit is mainly due to the reversal of impairment losses on oil and gas assets and intangible assets in the Utah oil field of approximately HKD 51.4 million (2024: HKD 28.9 million); a one-time penalty of HKD 4.7 million imposed in the fiscal year 2024 related to a lease terminated by the land management bureau, which will not incur any related expenses in the fiscal year 2025; and a reversal of impairment losses on trade and other receivables of HKD 200,000 in the fiscal year 2025, compared to a provision for impairment losses on trade and other receivables of HKD 6 million in the fiscal year 2024