Search Follow us

Renergen (RENJ)

Business description

Renergen is an integrated alternative and renewable energy business that invests in early stage alternative energy projects across Africa and emerging markets.

Stock data

Market cap.ZAR822.2m
Last closeZAR9.99
High / Low (52 weeks)ZAR13.9 / ZAR7.8
Stock market listingJP
Forecast net cash (ZARm)2.4
Forecast gearing ratio (%)N/A
TeamResources - Oil & Gas
SectorOil & Gas

Price performance

Relative *2.410.2(11.9)

* % 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
Egdon Resources 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 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 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
PetroMatad 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
Vermilion Energy Victoria Oil & Gas
Wentworth Resources WestSide Corporation
Xcite Energy

Investment summary

Renergen holds the first, and currently only, onshore petroleum production right in South Africa. It is already producing and selling gas, with production set to accelerate in 2019 as it moves to LNG production, primarily serving the growing domestic heavy duty truck market. LNG also unlocks the potential to extract and sell helium, adding material upside to economics (c 35% upside to NAV). With gross 2P reserves of 142 bcf of methane and c 2.2% of additional helium (Renergen 90% WI), our core NAV on a fully diluted basis is ZAR19.0/share. We estimate additional funding of c ZAR240m is required to become self-funding, in addition to a secured ZAR218m of term loan.

Last updated on 27/04/2018

Y/E Feb Revenue (ZARm) EBITDA (ZARm) PBT (ZARm) EPS (fd) (c) P/E (x) P/CF (x)
2016A 0.0 (17.9) (15.0) (0.3) N/A N/A
2017A 1.7 (22.0) (21.7) (0.2) N/A N/A
2018E 2.9 (33.6) (34.9) (0.4) N/A N/A
2019E 23.8 (36.1) (37.2) (0.3) N/A N/A

Last updated on 23/04/2018

Latest research

South African LNG and helium play

Initiation | Oil & Gas | 13/03/2018

Latest video

Bitesize briefing - Renergen

Industry outlook

Heavy duty LNG trucks is a rapidly evolving market globally. China has led the way with LNG trucks now accounting for 4% of more than six million heavy vehicles (categorised as hauling 40-49 tonnes of goods) on the country’s roads. Shell has recently reported that 70,000 new LNG-fuelled trucks were added in China in 2017 .

Last updated on 27/04/2018

Key management

Stefano Marani, CEO
Fulu Ravele, CFO
Nick Mitchell, COO

Company address

1 Bompas Road
Dunkeld West
South Africa
View website