Energean PLC -94.8% potential downside indicated by Jefferies

Energean PLC with ticker (LON:ENOG) now has a potential downside of -94.8% according to Jefferies.



Jefferies set a target price of 65 GBX for the company, which when compared to the Energean PLC share price of 1,245 GBX at opening today (21/04/2023) indicates a potential downside of -94.8%. Trading has ranged between 930 (52 week low) and 1,622 (52 week high) with an average of 559,920 shares exchanging hands daily. The market capitalisation at the time of writing is £2,200,967,600.

Energean plc is an exploration and production (E&P) company. The Company has operations in eight countries across the Mediterranean and the United Kingdom North Sea. The Company explores and invests in new ideas, concepts, and solutions to produce and develop energy with a low carbon footprint. It operates through four segments: Europe, Israel, Egypt and New Ventures. Its production comes mainly from the Abu Qir field in Egypt and fields in Southern Europe. The Company’s flagship development assets are the multi-tcf Karish, Karish North and Tanin fields, offshore Israel. Through its subsidiary, it holds 100% interest in the Karish and Tanin leases and in Blocks 12, 21, 23 and 31. Its Italian portfolio consists primarily of production and development, but also includes near-field, infrastructure-led optionality with a total of over 40 licenses. In Greece, it has approximately 37 million barrels of oil equivalent (mmboe) 2P reserves and 81 mmboe 2C resources and operates Prinos.