Primary Recommendation

Energean - Oil & Gas firm to grow production 20-fold by 2021

August 2018

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.

A sign of the buoyancy in the oil & gas sector is that Energean, with production and exploration interests in Greece and Israel, became the largest London IPO of the year when it was introduced to the main market at 455p on 16 March. Around £330m was raised and the shares subsequently hit a high of 600p prompting immediate promotion to the FTSE-250.Energean currently produces 4,000 barrels oil per day from mature oil fields in Greece and expects to double that next year but the real reason for our interest lies in its Israeli assets, the flagship being its Karish-Tanin gas development project, which the new finds are earmarked for. According to Energean’s founder and CEO Mathios Rigas, who we spoke with over the mon ...

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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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