Updates

Energean - Increased 2P reserves by 20%

May 2023

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.

The shares spiked by almost £3 after Energean revealed a 20% increase in 2P reserves to 1,161 million barrels oil equivalent (boe) after five out of five discoveries including the Athena, Zeus and Hera structures, in the Olympus block. Revenues rose 48% to US$737m while EBITDA before exploration was US$422m (+99% year-on-year) on production of 41,200 boepd (FY’21: 41,000), far exceeding Peel Hunt’s EBITDA forecasts of US$347m. Net debt rose a quarter to just over US$2.5 billion. First gas at the flagship Karish block in Israel was achieved in Q4’22 and (reiterated) forecast production is for 131,000 boepd this year rising to over 200,000 in H2 ‘24. Capex is expected to remain elevated this year at US$814m (FY’22: US$866m) b ...

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Central Asia Metals - Swings to net cash of US$59.2m

Vistry - Countryside synergies upgraded by £10m

Energean (November 2024)

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

Energean (April 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 - 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)

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