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Energean

November 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.

  • Epic Code:
  • ENOG
  • Price:
  • 1035p
“Operational challenges” during the pre and post commissioning ramp up phase at the flagship Karish field saw Energean reduce full year guidance from 125-140Mboe / day to 125 Mboe / day. H1 production came in at c. 106 Mboe / day. Management has indicated these issues are now resolved and in terms of outlook it’s encouraging to see new developments: Katlan (final investment decision by FY’23) and Orion-1 (a high impact exploration well in Q4 ‘23). The Q2 dividend was confirmed and it’s on track to deliver its transformational near-term targets of 200,000 boepd, US$2.5 billion revenues, a monumental US$1.75 billion EBITDA before exploration costs and leverage dropping to 1.5x in H2 ‘24. Annual dividends are expected to soar ...

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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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