We have re-visited our conventional valuation of Egdon post the company’s interim results (to end January 2019) and the recent resource assessment for Resolution. We also factor in a decrease in our short-term gas price expectations, lower than previously forecast production for FY19 and the removal of the risked value for Biscathorpe-2 exploration. As a result, our RENAV is reduced by 1.2p/share to 11.5p/share. These reductions are partly offset by an increase in our valuation for Reso
25 Apr 2019
Egdon Resources - Resolution CPR published ahead of farm-out
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Egdon Resources - Resolution CPR published ahead of farm-out
- Published:
25 Apr 2019 -
Author:
Sanjeev Bahl -
Pages:
8
We have re-visited our conventional valuation of Egdon post the company’s interim results (to end January 2019) and the recent resource assessment for Resolution. We also factor in a decrease in our short-term gas price expectations, lower than previously forecast production for FY19 and the removal of the risked value for Biscathorpe-2 exploration. As a result, our RENAV is reduced by 1.2p/share to 11.5p/share. These reductions are partly offset by an increase in our valuation for Reso