Updates

Energean

April 2024

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

Energean announced a reduction in guidance for 2024 to 155-175,000 barrels oil equivalent per day (boepd) due to delays in Israel phasing out its coal fired power stations, milder than normal weather and slower production ramp-up due to technical delays. However, the latter has since been resolved while a crucial landmark has been achieved with first gas flowing from Karish North (long awaited extension of its flagship Karish field). Separately, a new gas sales agreement has been signed covering an initial 0.6 billion cubic metres / year rising to 1 bcm / yr from 2032. A slight set-back then but overall Energean is on track to increase production to above 200,000 boepd some time in 2025. Peel Hunt forecasts EBIT profit almo ...

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Energean (November 2024)

Energean - Gas producer forecast to return a cumulative 3-year dividend yield of 66% (August 2024)

Energean (January 2024)

Energean - War fears leave shares on incredible soon-to-be prospective PE of 2.7 (December 2023)

Energean (November 2023)

Energean - Increased 2P reserves by 20% (May 2023)

Energean - First gas at Karish to increase production nearly six-fold to over 200,000 boepd (December 2022)

Energean - Gain to date: 170% (October 2022)

Energean - Gain to date: 46% (July 2022)

Energean - Shares hit new high of 1279p (May 2022)

Energean - Gas focused producer eyes c.180,000 boepd by FY’23, dropping PE to just 3.3! (December 2021)

Energean - Gas focused e&p firm to increase production from 3,300 to 167,000 boepd (February 2021)

Energean (November 2019)

Energean - Shares approaching £10 (August 2019)

Energean - Shares hit new high of 846p (June 2019)

Energean - Shares have gained 49% (May 2019)

Energean - Shares near highs after gas agreement (February 2019)

Energean (January 2019)

Energean - Shares hit new high (November 2018)

Energean - Oil & Gas firm to grow production 20-fold by 2021 (August 2018)

With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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