Egdon Resources (AIM: EDR)

Last close As at 24/02/2024

GBP0.04

0.00 (0.00%)

Market capitalisation

GBP25m

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

Latest Insights

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Energy & Resources | QuickView

Egdon Resources — Year-end revenue up by more than 530%

Energy & Resources | QuickView

Egdon Resources — Wressle continues to deliver

Energy & Resources | QuickView

Egdon Resources — Wressle exceeds expectations

Energy & Resources | QuickView

Egdon Resources — Wressle key to production increase

Equity Analyst

Key Management

  • Mark Abbott

    MD

  • Philip Stephens

    Chairman

Balance Sheet

Forecast net debt (£m)

N/A

Forecast gearing ratio (%)

N/A

Share Price Performance

Price Performance
% 1M 3M 12M
Actual 2.3 1.2 (36.7)
Relative 0.4 0.6 (39.4)
52 week high/low 7.8p/2.2p

Financials

Production from Egdon Resources’ Wressle-1 well continues to exceed forecast expectations, delivering an average gross rate of 656bopd (197bopd net) in the year ending July 2022. This high rate, combined with high commodity prices, has driven a 530% increase in revenues to £6.91m for the period, up from £1.09m in 2021. With cash of £4.8m, Egdon says it is funded for near-term committed activities. It will now look to increase Wressle production further. Onshore drilling projects have been held up by planning permission refusals, while the UK government’s stance on shale gas extraction has created uncertainty. Progress offshore has been affected by Shell’s withdrawal from the licences holding the Resolution and Endeavour gas discoveries and Egdon must carry out a 3D seismic survey across the P1929 licence by April 2023 to maintain its licence.

Research

QuickView

Energy & Resources

Egdon Resources — Wressle key to production increase

Flash note

Energy & Resources

Egdon Resources — Management estimates commercial upside

Flash note

Energy & Resources

Egdon Resources — Wressle development robust at current prices

Update

Energy & Resources

Egdon Resources — Developments at Wressle and Resolution

Flash note

Energy & Resources

Egdon Resources — Wressle and Resolution updates

Outlook

Energy & Resources

Egdon Resources — 2020 focus on conventional assets

Flash note

Energy & Resources

Egdon Resources — Farm-out update and government moratorium

Flash note

Energy & Resources

Egdon Resources — Positive results from Springs Road core analysis

Thematics

thematic

Consumer

IPO apocalypse

thematic

TMT

ESG, moving beyond the box tick

thematic

Energy & Resources

Decarbonisation

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