Analysts
Most recent initiations
| Leni Gas & Oil | ADX Energy |
| Forum Energy | Faroe Petroleum |
| Tower Resources | Valiant Petroleum |
Recent QuickViews
Leni Gas & Oil
Marginally valued
Oil & Gas | published 19/07/2010
Great Eastern Energy Corporation
Excellent potential
Oil & Gas | published 08/07/2010
Leni Gas & Oil
Exciting news
Oil & Gas | published 12/05/2010
Green Dragon Gas
Unique gas play
Oil & Gas | published 21/04/2010
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Resources - Oil & Gas sector team
Latest research
Leni Gas & Oil
Development begins
Flash note | Oil & Gas | 25/08/2010On 25 August Leni Gas & Oil (LGO) announced it has spudded the hole for the Hontomin-2 extended well test. This marks the start of a potentially extensive…
Tower Resources
Bullish Namibia CPR
Update | Oil & Gas | 04/08/2010The focus of Tower’s exploration activity has shifted to Namibia following the disappointing drilling results in Uganda in 2009 and early 2010. The recently…
Leni Gas & Oil
Undervalued
Outlook | Oil & Gas | 04/08/2010We see LGO primarily as a near-term oil and gas field development/rehabilitation story, but there is also some longer-term exploration upside offshore…
Leni Gas & Oil
Marginally valued
QuickView | Oil & Gas | 19/07/2010We see LGO primarily as a near-term oil and gas field development/rehabilitation story, but there is also some longer-term exploration upside offshore…
Great Eastern Energy Corporation
Excellent potential
QuickView | Oil & Gas | 08/07/2010We see GEECL as a rapidly emerging India-focused CBM play with excellent potential for volume growth and cash flow over the current decade. Following the…
Research methodology
We apply expected monetary value (EMV) using a discounted cash flow model for valuing exploration and production (E&P) companies. Key components of EMV calculation are the value in discounted cash flows terms associated with a successful outcome, the chance of achieving a successful outcome and the cost of a dry hole (risked cost of failure). Risk factors are a combination of the probabilities of the presence of reservoir, presence of trap and presence of working hydrocarbon system plus the appraisal and development associated with work necessary to bring the field to production. In addition to EMV, we sense check the valuation through EV/2P (proven + probable reserves) multiples, taking into consideration the comparable asset characteristics (eg 2P developed or undeveloped, stage of development, fiscal regime, etc).
Sector reports
Sectors covered
Oil & Gas Show companies
- ADX Energy
- Afren
- Aminex
- Andes Energia
- Canoel International Energy
- Coastal Energy
- Dominion Petroleum
- Faroe Petroleum
- Forum Energy
- Gasol
- Great Eastern Energy Corporation
- Green Dragon Gas
- Gulfsands Petroleum
- Ithaca Energy
- JKX Oil & Gas
- Leed Petroleum
- Leni Gas & Oil
- Mediterranean Oil & Gas
- Nautical Petroleum
- Nighthawk Energy
- Northern Petroleum
- Premier Oil
- Range Resources
- Regal Petroleum
- Rockhopper Exploration
- Royal Dutch Shell
- Salamander Energy
- SOCO International
- Sound Oil
- Stratic Energy
- Tower Resources
- Valiant Petroleum
- Xcite Energy
