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Energean - Shares hit new high of 1279p

May 2022

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.

Elevated oil & gas prices, alongside above guidance production of 41,000 barrels oil equivalent per day meant Energean recorded record revenues of US$497m and adjusted EBITDA before exploration costs of US$212m. Capital expenditure was US$408 million, leaving net debt just over US$2 billion.The key note is that first gas from the transformative Karish gas project in Israel remains on track for Q3 this year. In early March the onshore pipeline was connected to the Israeli grid while the FPSO vessel (98% complete at FY’21) entered dry-dock on 14th March to be cleaned and prepared for sail-away and entry into Israeli waters.A new Israeli drilling program has also started with the Athena exploration well (Block 12) spudded ...

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Energean - Shares hit new high of 1279p

May 2022

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