Search Follow us

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

%1m3m12m
Actual14.00.617.6
Relative *11.11.832.5

* % 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 Diversified Gas & Oil
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
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
Petro Matad 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
Renergen Rockhopper Exploration
SacOil Holdings Salamander Energy
SDX Energy Sefton Resources
Senex Energy Sequa Petroleum
ShaMaran Petroleum Simba Energy
SOCO International Solo Oil
Sound Energy 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

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
Odiham
Hampshire
RG29 1LP
United Kingdom
01256 702292
View website