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.£23.3m
Last close9.00p
High / Low (52 weeks)17.6p / 7.2p
Stock market listingLN
Forecast net cash (£m)3.9
Forecast gearing ratio (%)N/A
TeamResources - Oil & Gas
SectorOil & Gas

Price performance

Relative *(11)(32.6)(8.1)

* % 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
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

Egdon Resources seals acquisition to expand East Midlands exposure

Mon, 30 Jan 2017 08:15:00 GMT

VSA Capital Market Movers - Egdon Resources Plc

Fri, 10 Mar 2017 09:17:42 GMT

Egdon Resources - Broker upbeat, says worth 39p

Tue, 03 Nov 2015 15:20:37 GMT

2 Winners From Fracking 'Green Light': Egdon Resources Plc And IGAS Energy PLC

Mon, 28 Jul 2014 14:15:00 GMT

IGas Energy jumps 25% as UK shale gets fracking boost

Tue, 24 May 2016 08:37:18 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 59.6

Last updated on 28/02/2017

Investment summary

Planning complications at Wressle are a setback for Egdon, affecting short-term production expectations. We expect Egdon to return with revised planning documentation to address local council planning concerns over the next couple of months; nevertheless, we expect Wressle first oil to be pushed back by up to 12 months. Our production expectation for FY17 has been reduced from 165boe/d to 110boe/d as a result. Our updated core 2P NAV (including cash and net of G&A) falls from 3.7p/share to 3.1p/share. However, our contingent resource and risked exploration valuation is little changed at 17.8p/share (from 18.5p/share). We include an indicative value per acre-based 25.7p/share valuation for shale acreage.

Last updated on 27/02/2017

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 21/12/2016

Key management

Philip Stephens, Chairman
Mark Abbott, MD

Company address

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