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.£21.5m
Last close8.25p
High / Low (52 weeks)17.6p / 7.2p
Stock market listingLN
Forecast net cash (£m)4.8
Forecast gearing ratio (%)N/A
TeamResources - Oil & Gas
SectorOil & Gas

Price performance

%1m3m12m
Actual3.1(13.2)(23)
Relative *2.9(17)(31.5)

* % Relative to local index

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Company news

Egdon Resources picks up new midlands gas project

Mon, 12 Jun 2017 07:14:08 GMT

VSA Capital Market Movers - REDT Energy, Egdon Resources Plc, Millennial ...

Thu, 13 Jul 2017 07:52:15 GMT

Egdon Resources raises £2mln in oversubscribed open offer

Fri, 25 Nov 2016 08:05:11 GMT

Egdon Resources seals acquisition to expand East Midlands exposure

Mon, 30 Jan 2017 08:24:48 GMT

Egdon Resources shares advance after new UK shale deal

Tue, 04 Apr 2017 10:49:30 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 1.2 (0.9) (1.9) (0.8) N/A N/A
2018E 2.5 0.2 (1.3) (0.5) N/A 131.9

Last updated on 17/07/2017

Investment summary

Egdon Resources retains several value catalysts over the course of 2017/2018; 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. Capital commitments are being kept to a minimum through existing cost-carry arrangements and planned farm-outs. Planning consent approvals continue to hinder the pace of activity; however, central government appears to be supportive of unconventional gas development, attracting sector investment from the likes of Total, Centrica and Ineos. Our Egdon valuation has increased slightly to 21.5p/share risked conventional value and 26.0p/share for indicative unconventional upside potential.

Last updated on 17/07/2017

Industry outlook

The UK government stance towards shale varies by party, with the Conservative party looking to fast-track its exploration and exploitation.

Last updated on 03/07/2017

Key management

Philip Stephens, Chairman
Mark Abbott, MD

Company address

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