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Energean

November 2019

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.

Half year results for Energean showed adjusted cash profit before exploration (EBITDAX) rising 41% to US$23.6m on sales up 52% to US$40m with production up 3% to 3,920 barrels oil equivalent per day. For the full year guidance is for 3,400-3,3600 barrels.The original growth story is that Energean has legacy production assets in Greece and gas fields at Karish and Tanin in Israel, which could exponentially increase production and the latter are still on track for first gas in Q1 2021. The recent Karish North discovery and other upcoming drilling opportunities could also add a further 10 trillion cubic feet gas to reserves and resources.But even this opportunity in Israel has been overshadowed by the huge US$750m upfront acquis ...

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Energean

November 2019

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