Egdon Resources

LN: EDR

Market Cap£10m

Last Close 1.95p

Egdon Resources is an AIM-listed onshore oil and gas exploration company. The group has conventional and unconventional assets in the UK.

More Egdon Resources content >

Investment summary

The Wressle-1 well has delivered above management’s expectation, producing at 884bod with a further c 80boed of gas. With a 30% working interest in Wressle, Egdon has achieved a significantly higher 289boed net versus its target of 150bod, with the full potential of the well yet to be tested. Further onshore drilling remains dependent on successful farm-outs, while offshore, the 3D seismic surveys on the Shell operated Resolution and Endeavour discoveries will now be delayed beyond the previously rescheduled February 2022 date. Egdon has also made progress with its geothermal projects, having identified the Dukes Wood-1 oil well for recompletion for geothermal heat production.

Y/E Jul
Revenue (£m)
EBITDA (£m)
PBT (£m)
EPS (fd) (p)
P/E (x)
P/CF (x)
2018A 1.2 (2.2) (2.0) (0.8) N/A N/A
2019A 2.2 (0.6) (1.7) (0.2) N/A N/A
2020E 1.9 (0.6) (0.9) (0.8) N/A N/A
2021E 4.1 1.5 (1.5) (0.8) N/A 3.0
Content on Egdon Resources
Egdon Resources – Wressle exceeds expectations
Oil & gas | QuickView | 24 September 2021
66
Egdon Resources – Wressle key to production increase
Oil & gas | QuickView | 29 April 2021
66
Egdon Resources – Management estimates commercial upside
Oil & gas | Flash note | 31 March 2020
66
View more
Register to receive research on Egdon Resources as it is published
Share price graph
Balance sheet
Forecast net cash (£m) 0.1
Forecast gearing ratio (%) N/A
Price performance
%
1m
3m
12m
Actual 32.2 39.3 14.7
Relative* 28.0 33.0 (7.7)
52-week high/low 2.4p/1.2p
*% relative to local index
Key management
Philip Stephens Chairman
Mark Abbott MD