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.£22.4m
Last close8.63p
High / Low (52 weeks)17.6p / 7.4p
Stock market listingLN
Forecast net cash (£m)3.9
Forecast gearing ratio (%)N/A
TeamResources - Oil & Gas
SectorOil & Gas

Price performance

%1m3m12m
Actual(9.2)(19.8)(28.6)
Relative *(11.9)(23.2)(40.2)

* % Relative to local index

Other companies in sector Show

88 Energy Activa Resources
ADX Energy Afren
African Petroleum Corporation 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 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 Gasol
Genel Energy Genie Energy
Great Eastern Energy Corporation Green Dragon Gas
Greka Drilling Gulf Keystone Petroleum
Gulfsands Petroleum Hawkley Oil & Gas
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 Limited
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 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
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
Victoria Oil & Gas Wentworth Resources
WestSide Corporation Xcite Energy

Company news

VSA Capital Market Movers - Egdon Resources Plc

Fri, 19 May 2017 07:18:45 GMT

Egdon Resources seals acquisition to expand East Midlands exposure

Mon, 30 Jan 2017 08:24:48 GMT

Egdon Resources raises £2mln in oversubscribed open offer

Fri, 25 Nov 2016 08:05:11 GMT

Egdon Resources shares advance after new UK shale deal

Tue, 04 Apr 2017 10:49:30 GMT

VSA Capital Market Movers - Egdon Resources Plc, LGO Energy PLC

Wed, 03 May 2017 07:30:00 GMT

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 1.4 (1.0) (2.3) (0.9) N/A N/A
2018E 2.7 0.4 (1.1) (0.4) N/A 57.2

Last updated on 24/04/2017

Investment summary

Following fundraising, Egdon has zero debt and cash of c £7.0m, making it the largest unlevered UK-listed shale play. Licences span over 200,000 net acres with an ERCE estimated undiscovered gas initially in place (GIIP Pmean) of 48tcf. Our valuation is adjusted for placing proceeds and associated NAV/share dilution, offset by inclusion of 14th-round licence awards. Our valuation is broken down into 3.7p/share for core 2P value (including cash and net of G&A) and 18.5p/share for contingent resource and risked exploration. We also include an indicative dollars-per-acre shale valuation of 25.7p/share.

Last updated on 02/05/2017

Industry outlook

The supportive stance taken by the UK government towards shale provides a stable fiscal and regulatory environment for its development.

Last updated on 02/05/2017

Key management

Philip Stephens, Chairman
Mark Abbott, MD

Company address

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