Energean Share Discussion Threads

[chutes01] 23/4/2024 13:24

still extremely susceptible to risk here, its been ok so far, but be wary, the divi is good, but a shock can come at any time, for gamblers at the moment.

[nimbo1] 23/4/2024 08:19

I read something last year about the dividend doubling this year... is that still true?

[drk1] 22/4/2024 16:00

@chutes01 - I assume (hope) you mean - too risky to be out? If so, I agree, far too risky with so much upside potential. ;-)

[chutes01] 16/4/2024 12:19

Too risky of a shock here now

[jsg123] 04/4/2024 09:03

Down again

[jsg123] 03/4/2024 10:46

Only thing that makes any sense except a pathetic uk market is the high debt level and spike in US 10 year bonds yesterday.

[drk1] 02/4/2024 15:32

The fairly heavy shorting in January (3.6% minimum out on loan) has played a role as has of course the situation in the middle east, but I'm following the Buffet strategy here as in topping up and adding on any significant dips. ;-)

[dekle] 02/4/2024 14:27

Is it the current political situation holding back this share? i.e. The War

[drk1] 22/3/2024 15:22

isg123 - echo those thoughts exactly, but this year should herald a significant rerate and the above analysis from WealthOrcacle doesn't even factor in the potential upside from their deal with Chariot.

[jsg123] 22/3/2024 13:01

This just shows what an appalling stock market the UK has become.
If those results were released in the US , the response by the market would be completely different.

[kalai1] 21/3/2024 15:30

Energean plc posted audited full-year results for the year ended 31 December 2023 this morning. The first major step up in Group production has been achieved with FY23 production of 123 kboed (83% gas), up 200% year-on-year, primarily as a result of a full-year of production from Karish (Israel). Management also reconfirmed that day-to-day production in Israel continues to be unimpacted by the ongoing geopolitical developments. Financial performance was commensurately strong. 2023 sales and other revenues were up 93% to $1,420 million. 2023 profit after tax was $185 million up from $17 million in 2022. The Group’s balance sheet was strengthened considerably with Group cash at 31 December 2023 of $372 million and a 50% reduction in Group leverage to 3x. A Q4 2023 dividend of 30 US$cents/share was also declared on 22 February 2024. Valuation remains very attractive with forward PE ratio at just 3.9x and dividend yield over 10%. The share price lacks positive momentum and geopolitical risks remain to the forefront, but the strength of distributions alone makes this an appealing share to own. And management guided for another uptick in production to 155 - 175 kboed in 2024. BUY...

...from WealthOracle

[drk1] 21/3/2024 08:08

Great set of results - upwards and onwards (we have a vey long way to go). ;-)

[nimbo1] 18/3/2024 13:03

There was an article posted on lse about the well being a duster. Market doesn’t care clearly. Perhaps already priced in at these lowly levels. Who knows.

[drk1] 27/2/2024 12:51

Chart looking stronger by the day - still think this is one rare, divi paying, hidden gem. ;-)

[canarychris] 18/1/2024 12:32

The $1.425m ‘23 revenues are about $200 million below consensus, and the production increase guidance of 34% for 2024 is some way below the roughly 50% revenue increase consensus has for ‘24, so it will need some modest forecast downgrades. still very high gross and a 10% dividend yield, which could become 13% if they do increase production by 30% plus at the current share price.

[jsg123] 18/1/2024 08:56

Anyone know why doubling profits and reducing debt has been so poorly received?
Really do not understand.
Is it solely Israel

[valuehurts] 11/1/2024 19:07

Good post in valueinvestorsclub on the company

[pyemckay] 27/12/2023 09:07

I’m surprised this has held up this morning after the reported failed drone attack on the FSPO. 👀

[drk1] 21/12/2023 10:49

Nice little mention in today's Citywire from AAA fund manager Neil Veitch.........

SVM: Israel needs Energean
Gas producer Energean (ENOG) slumped on the outbreak of war in the Middle East but SVM’s Neil Veitch says its importance to Israel should not be underestimated.

Veitch holds the Citywire Elite Companies AAA-rated stock in his SVM UK Opportunities fund, where it makes up 3.1% or the £124m portfolio.

In a recent update, he said it had been the largest negative contributor to performance in October as conflict erupted between Hamas and Israel.

‘The company’s Karish gas field, located in the eastern Mediterranean Sea, supplies 100% of its production to Israel,’ he said.

‘Disruption to production cannot be completely ruled out and the initial selloff is understandable.̵7;

However, he said the field is capable of meeting more than 50% of Israel’s domestic gas demand and ‘is highly important to the Israeli state’.

‘Production is contracted out to 2032 and the cashflows are significant, enabling the company to pay a sizeable dividend,’ said Veitch.

Shares in Energean were trading at £10.28 on Wednesday.

[jsg123] 20/12/2023 14:40

This is purely the work of shorts, they will get stung on the TU if they don't close.

[the millipede] 20/12/2023 11:29

Why does trouble in the gulf impact Energean, whose assets are all in the med?

Would have thought any increase in oil/gas price would be good news.

[zicopele] 16/12/2023 11:55

It does not help that Maersk no longer using Suez for cargo transportation.

If one can stomach the volatility, the income is superb.

If it hits the 8s again, I just may top up.

[jsg123] 15/12/2023 16:58

Plus just wait for the US to stop Israel bombing at will. They will soon close then