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    C.K. Poe Fratt • Alliance Global Partners

    C.K. Poe Fratt's questions to Genco Shipping & Trading Ltd (GNK) leadership

    C.K. Poe Fratt's questions to Genco Shipping & Trading Ltd (GNK) leadership • Q2 2025

    Question

    C.K. Poe Fratt of Alliance Global Partners asked for clarification on Genco's strategy for its stock buyback program and requested commentary on a new significant shareholder.

    Answer

    President, CEO & Director John Wobensmith explained that the stock buyback program is viewed as supplemental to dividends, the primary method of capital return. He stated that no shares were repurchased in the last quarter as market conditions did not warrant it, but the program remains available for periods of downward volatility. Regarding the new shareholder, Wobensmith declined to comment on specific investor discussions but referred to the shareholder's public statements indicating a passive investment.

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    C.K. Poe Fratt's questions to Flotek Industries Inc (FTK) leadership

    C.K. Poe Fratt's questions to Flotek Industries Inc (FTK) leadership • Q2 2025

    Question

    C.K. Poe Fratt of Alliance Global Partners inquired about the timing for non-PROFRAC PowerTech revenue to impact results, the potential revenue scale per new customer, expected revenue from the custody transfer business, and an updated outlook for the chemistry segment.

    Answer

    CEO Ryan Ezell stated that non-PROFRAC revenue will begin in Q3 2025 and accelerate into 2026. CFO Bond Clement added that while it's too early to quantify economics for new smart skids, they could be financially meaningful. For the chemistry business, Ezell anticipates near-term softness in commodity chemicals but expects continued growth in proprietary technologies like complex nanofluids.

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    C.K. Poe Fratt's questions to Vitesse Energy Inc (VTS) leadership

    C.K. Poe Fratt's questions to Vitesse Energy Inc (VTS) leadership • Q2 2025

    Question

    C.K. Poe Fratt of Alliance Global Partners questioned the likelihood of hitting the low end of production guidance, inquired about the run-rate for LOE and G&A costs, and asked for details on the financial benefits of the recent legal settlement, particularly the new gas contracts. He also asked for an update on the pipeline for 'chunkier' M&A deals.

    Answer

    CFO James Henderson and President Brian Cree stated there is a minimal chance of hitting the low end of guidance, which would require a significant oil price drop and production curtailments. Cree attributed higher Q2 LOE to initial work on Lucero assets. Henderson projected a mid-$3s per BOE G&A run-rate post-settlement and estimated the new gas contracts would yield an improvement of $2.5-3.0 million per half-year. Chairman & CEO Bob Gerrity described the current M&A deal flow as the most robust in 12 years but emphasized that any deal must meet their high, dividend-accretive return hurdles.

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