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.ZAR705.3m
Last closeZAR8.45
High / Low (52 weeks)ZAR13.0 / ZAR7.8
Stock market listingJP
Forecast net debt (m)N/A
Forecast gearing ratio (%)N/A
TeamResources - Oil & Gas
SectorOil & Gas

Price performance

Relative *(6.6)(6.5)(24)

* % 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 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 only onshore petroleum production right in South Africa. It is already producing and selling gas and announced in May a GSA with Anheuser-Busch to supply CNG and then LNG to the growing domestic heavy duty truck market. LNG also unlocks the potential to extract and sell helium, adding material upside to economics. 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, although this is contingent on equity/project funding (debt already secured) which has slipped from our previous FY H119 assumption. As such, our forecasts are under review.

Last updated on 26/10/2018

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 N/A N/A N/A N/A N/A N/A
2019E N/A N/A N/A N/A N/A N/A

Last updated on 23/10/2018

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 reported that 70,000 new LNG-fuelled trucks were added in China in 2017.

Last updated on 26/10/2018

Key management

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

Company address

1 Bompas Road
Dunkeld West
South Africa
View website