Energean PLC 23.2% potential upside indicated by Berenberg Bank

Energean PLC with ticker (LON:ENOG) now has a potential upside of 23.2% according to Berenberg Bank.



Berenberg Bank set a target price of 1,580 GBX for the company, which when compared to the Energean PLC share price of 1,214 GBX at opening today (27/01/2023) indicates a potential upside of 23.2%. Trading has ranged between 904 (52 week low) and 1,622 (52 week high) with an average of 381,022 shares exchanging hands daily. The market capitalisation at the time of writing is £2,187,802,812.

Energean plc is a United Kingdom-based exploration and production (E&P) company. The Company has operations in eight countries across the Mediterranean and the United Kingdom North Sea. The Company operates through four segments: Europe, Israel, Egypt and New Ventures. The Europe segment includes Greece, Italy, the United Kingdom and Croatia. The Company’s flagship development assets are the multi-tcf Karish, Karish North and Tanin fields, offshore Israel. It holds 100% interests in the Karish and Tanin leases, and in Blocks 12, 21, 23 and 31. It also holds 80% interests in four licenses in Zone D in Israel’s EEZ, with Israeli Opportunity holding the remaining 20%. Italian portfolio consists primarily of production and development and also includes near-field, infrastructure-led optionality with a total of approximately 40 licenses. In Greece, it has approximately 36 million of barrels of oil equivalent (mmboe) 2P reserves and 78 mmboe 2C resources and operates Prinos.