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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 access to over 188,000 net shale acres.

Stock data

Market cap.£21.2m
Last close8.15p
High / Low (52 weeks)12.5p / 5.7p
Stock market listingLN
Forecast net cash (£m)0.9
Forecast gearing ratio (%)N/A
TeamResources - Oil & Gas
SectorOil & gas

Price performance

Relative *11.11.832.5

* % Relative to local index

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Company news

Egdon Resources still has a strong case for Wressle field - analyst

Thu, 25 Jan 2018 09:53:54 GMT

Egdon Resources shares advance after new UK shale deal

Tue, 04 Apr 2017 10:49:30 GMT

Egdon Resources seals acquisition to expand East Midlands exposure

Mon, 30 Jan 2017 08:24:48 GMT

Egdon Resources picks up new midlands gas project

Mon, 12 Jun 2017 07:14:08 GMT

UK set for 'significant' shale gas activity – Egdon Resources

Mon, 14 Aug 2017 13:04:05 GMT

Y/E Jul Revenue (£m) EBITDA (£m) PBT (£m) EPS (fd) (p) P/E (x) P/CF (x)
2017A 1.0 (1.2) (2.2) (0.7) N/A N/A
2018A 0.8 (2.2) (1.7) (0.8) N/A N/A
2019E 3.2 0.1 (0.6) (0.2) N/A 33.4
2020E 4.2 (0.1) (2.0) (0.8) N/A 51.4

Last updated on 21/11/2018

Investment summary

Egdon has announced the spud of the Biscathorpe-2 well in Lincolnshire, a material well that makes up 28% of risked conventional valuation targeting Pmean gross unrisked resource of 14mmbo. Egdon describes Biscathorpe as one of the largest undrilled prospects onshore UK. Our last published conventional asset value for Egdon was 12.7p/share. Valuation of Egdon’s net shale resource (188,000 net acres) remains uncertain but, in our view, has potential to be worth risked c 100p/share based on the current expectation of well cost, type curves and forward gas prices, assuming a supportive political and planning backdrop.

Last updated on 07/01/2019

Industry outlook

The UK government's 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 29/11/2018

Key management

Philip Stephens, Chairman
Mark Abbott, MD

Company address

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