Egdon Resources (EDR)

Business description

Egdon Resources is an AIM-listed onshore oil and gas exploration company. The group has conventional and unconventional assets in the UK and France.

Stock data

Market cap.£15.3m
Last close5.90p
High / Low (52 weeks)10.5p / 5.9p
Stock market listingLN
Forecast net cash (£m)4.8
Forecast gearing ratio (%)N/A
TeamResources - Oil & Gas
SectorOil & Gas

Price performance

Relative *(1.9)(14)(42.8)

* % Relative to local index

Other companies in sector Show

88 Energy Activa Resources
ADX Energy Afren
African Petroleum Corporation AJ Lucas Group
Aminex Andes Energia
Antares Energy Athabasca Resources
AusTex Oil AWE
Azonto Petroleum Bankers Petroleum
Bitesize Briefing BNK Petroleum
Bowleven Bridge Energy
Buru Energy Cairn Energy
Canacol Energy Canadian Overseas Petroleum
Canoel International Energy Cap Energy
Carbon Energy Carnarvon Petroleum
CBM Asia Development Central Petroleum
Challenger Energy Coastal Energy
Columbus Energy Resources Cooper Energy
Core Laboratories Cue Energy
Denbury Resources DEO Petroleum
Deutsche Rohstoff Dragon Oil
Drillsearch Energy Elk Petroleum
Energy XXI Exillon Energy
Exoma Energy Falkland Oil & Gas
Faroe Petroleum Fastnet Oil & Gas
Forum Energy G3 Exploration
Gasol Genel Energy
Genie Energy Great Eastern Energy Corporation
Greka Drilling Gulf Keystone Petroleum
Gulfsands Petroleum Hawkley Oil & Gas
Hellenic Petroleum High Peak Royalties
Hurricane Energy Hydrodec Group
IPB Petroleum Ithaca Energy
JKX Oil & Gas Karoon Gas
Kea Petroleum Kina Petroleum
Kreuz Holdings Lansdowne Oil & Gas
Leed Petroleum Leigh Creek Energy
LGO Energy Lion Energy
Liquefied Natural Gas Lochard Energy
Madagascar Oil Madalena Energy
MEC Resources Mediterranean Oil & Gas
MEO Australia Mosman Oil and Gas
Nautical Petroleum New Standard Energy
New Zealand Oil & Gas Nido Petroleum
Nighthawk Energy North Sea Energy
Northern Petroleum Norwest Energy
Otto Energy Pacific Rubiales
Parex Resources Petrel Energy
Petroceltic Petromanas Energy
PetroMatad Petrominerales
Po Valley Energy Premier Oil
President Energy Pura Vida Energy
Quadrise Fuels International Ramba Energy
Range Resources Real Energy
Real Energy Corporation Regal Petroleum
Renergen Rockhopper Exploration
SacOil Holdings Salamander Energy
SDX Energy Sefton Resources
Senex Energy Sequa Petroleum
ShaMaran Petroleum Simba Energy
SOCO International Solo Oil
Sound Oil Sterling Energy
Stratic Energy Tethys Petroleum
Touchstone Exploration Tower Resources
TransAtlantic Petroleum TransGlobe Energy
Valiant Petroleum Vermilion Energy
Victoria Oil & Gas Wentworth Resources
WestSide Corporation Xcite Energy

Company news

Y/E Jul Revenue (£m) EBITDA (£m) PBT (£m) EPS (p) P/E (x) P/CF (x)
2015A 2.1 (4.0) (4.5) (2.1) N/A N/A
2016A 1.6 (0.7) (2.7) (1.2) N/A N/A
2017E 1.2 (0.9) (1.9) (0.8) N/A N/A
2018E 2.5 0.2 (1.3) (0.5) N/A 94.3

Last updated on 20/02/2018

Investment summary

Egdon Resources retains several value catalysts over the course of 2018; these encompass the company’s conventional as well as unconventional asset portfolio. Key catalysts include exploration and appraisal at Springs Road, Holmwood, Resolution, Biscathorpe and North Kelsey, as well as Wressle development (which remains subject to planning consent). Capital commitments are being kept to a minimum through existing cost-carry arrangements and planned farm-outs. Our Egdon valuation stands at 21.5p/share risked conventional value and 26.0p/share for indicative unconventional upside potential.

Last updated on 02/03/2018

Industry outlook

The UK government stance towards shale varies by party; however, current central government appears to be supportive of unconventional gas development, attracting sector investment from the likes of Centrica and Ineos.

Last updated on 02/03/2018

Key management

Philip Stephens, Chairman
Mark Abbott, MD

Company address

The Wheat House
98 High Street
RG29 1LP
United Kingdom
01256 702292
View website