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Energean

April 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.

  • Epic Code:
  • ENOG
  • Price:
  • 1035p
Energean announced a reduction in guidance for 2024 to 155-175,000 barrels oil equivalent per day (boepd) due to delays in Israel phasing out its coal fired power stations, milder than normal weather and slower production ramp-up due to technical delays. However, the latter has since been resolved while a crucial landmark has been achieved with first gas flowing from Karish North (long awaited extension of its flagship Karish field). Separately, a new gas sales agreement has been signed covering an initial 0.6 billion cubic metres / year rising to 1 bcm / yr from 2032. A slight set-back then but overall Energean is on track to increase production to above 200,000 boepd some time in 2025. Peel Hunt forecasts EBIT profit almo ...

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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.

All material on this website is protected by copyright. You may use Information retrieved from the www.scsw.co.uk website for your own personal non-commercial use which means that you may not sell or copy this information to any third party without prior written consent. ISSN 1358-183X

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