Updates

Energean

November 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.

Strong summer gas demand in Israel pushed H1 production and financials ahead of forecast, although guidance for the full year is unchanged. H1 production averaged 146,000 barrels oil equivalent per day (boepd) with record production of 177,000 boepd in June. EBITDA before exploration costs was US$568m (Stifel forecast: US$540m) while net debt was US$2.9bn. A Q2 dividend of US30 cents has been declared, taking total shareholder payments to US$486m with a US$1bn target by end 2025. Dividends will further ramp up next year as average production is set to rise further. Nice to see founder Mathios Rigas acquire another 40,000 shares at 850p; presumably he spotted the discount to Stifel’s NAV estimate of 1448p per share. I am holdin ...

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Vistry - Shares hit new high above £14

Lords

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 - 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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