Utterly mind-boggling end to the week! |
4*
Energean plc issued an upbeat update on recent operations and the Group's trading performance in the 12-months to 31 December 2024 as well as guidance for 2025 this morning. The numbers were strong as expected. Group production for the period was 153 kboed (83% gas), a 24% increase year-on-year (FY23: 123 kboed) and in line with guidance (as at Nov 2024) of 150-155 kboed. Of this 114 kboed was from continuing operations
wealthoracle.co.uk/detailed-result-full/ENOG/1165 |
4*
Energean plc issued an upbeat update on recent operations and the Group's trading performance in the 12-months to 31 December 2024 as well as guidance for 2025 this morning. The numbers were strong as expected. Group production for the period was 153 kboed (83% gas), a 24% increase year-on-year (FY23: 123 kboed) and in line with guidance (as at Nov 2024) of 150-155 kboed. Of this 114 kboed was from continuing operations...from WealthOracle
wealthoracle.co.uk/detailed-result-full/ENOG/1165 |
 Cracking set of results, underloved gem IMO and now that we have a slightly more stable situation in the middle east, I expect 2025 to be a much better one for the share price ;-)
"Exploration and production firm Energean said on Thursday that FY24 marked another year of growth in both sales and profitability.
Energean said revenues rose 26% to $1.78bn, while adjusted underlying earnings grew 25% to $1.16bn, reflecting a strong performance from its core Israel operations.
The FTSE 250-listed group also noted that over the past year, it has agreed to more than $4.0bn in new long-term gas sales agreements in Israel, including a new $2.0bn binding terms agreement with Dalia Energy, underscoring its "proven success" in securing long-term contracts, bringing total contract values close to $20.0bn.
Energean also said it expects total production in FY25 to be roughly 120,000-130,000 barrels of oil per day, with continued growth in Israeli gas sales resulting in a 10% year-on-year increase in working interest production.
As of 0825 GMT, Energean shares were up 3.23% at 1,056.0p." |
Very impressive update; large special dividend soon. |
28 Nov 2024 07:00
RNS Number : 9332N
Energean PLC
28 November 2024
Q3 2024 dividend of 30 US$ cents/share declared today, scheduled to be paid on 30 December 2024[6].
o Including the Q3 2024 dividend, approximately $541 million will have been returned to shareholders since payments began, over half of the Group's target to return $1 billion to shareholders by the end of 2025.
o The Group expects to redefine its dividend policy upon Transaction closing, consistent with its core objectives of capital discipline and maximising returns to shareholders.
Looking at the trading update you should be able to work out the expected dividend payments for 2025 including the special. |
Drk
They said the disposal is due to complete either side of year end, so special probably announced after completion.
I can't see how there won't be a dividend cut post completion in real terms, until they start production on the new Israel site in 27. They will lose revenues in the meantime, can't even seem to meet a narrowed production range less than 2 months after guiding, so how are they going to maintain 30 c per quarter next year?
I think the special is a sweetener to make people think wow massive divi coming, but in reality the time to buy this will be well after the special x dividend date, when next years earnings are clearer. Plus despite paying off a chunky bond there will still be significant debt pile to service. |
Nope, not happy at all and in truth, modest production revisions aside, bit of a loss as to why, more especially now that a ceasefire is in operation. Can someone remind me when the special divi is expected?? |
Everyone still happy about collecting dividends here when you look at this capital destruction thereafter, every time.
Yeah I know big special dividend coming, but what will your capital be worth by that x dividend date? |
ex div of 30 US cents. |
It looks as if the trading share price is anticipating ex-div tomorrow. Last week's opening on Thursday does seem to have been caused by the trading statement that day. (Zico correct in #335.) |
Field wells underperforming now
Huge drop off in reservoir pressure limits longevity of project |
Bit slack from the BOD really considering they only narrowed the forecast 2 months ago to 155-160, and now revised it down to 150-155. |
Production forecast has fallen. Market very upset. No mercy for missed forecasts these days. |
It hasn't gone ex-div though. Not until next Thursday according to the RNS. Or am I missing something? Big drop today though. Certainly odd. It looks as if some traders sold ex-div but AFAIK that would be their choice to negotiate. |
Look what the share price did from the x dividend date in June, and this is a one off special.
The policy needs redefining probably to consider the reset after the sale of assets completes.
There's going to surely be a reduction in revenues/ profits until the next big Israel rig starts producing in 27, no? |
A dividend of around £1 a share (per year) means I am happy to hold long term. |
The main risk to buying here is from a military action, but then if you own other oilers they will compensate as oil itself will head up. The minor downgrade in production due to weather and an Israeli war economy seems trivial w.r.t. the value. I like the divis as my net risk exposure reduces over time. |
Come to the conclusion that waiting for dividends here are simply not worth it because you're always guaranteed significant capital losses.
Production guidance lowered but you'll get a special dividend, plus the whole dividend policy needs redefining |
Mind boggling reaction to an overall great set of results and more than decent dividend! |
So predictable and as expected.
Risks removed share price falls. |
I wouldn't at all be surprised if despite an agreed ceasefire , the great British stock market decides that the recent rise is enough reward to bake in the ceasefire, so we're going to drop you tomorrow. |
Looks to have coincided with the falls in gold and bitcoin as reports have suggested a ceasefire is likely in the Israel/ Hezbollah conflict in Lebanon. |
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