Added to YB: 2026-03-11
Pitch date: 2026-03-08
CNE.L [neutral]
Capricorn Energy PLC
+8.37%
current return
Author Info
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Company Info
Capricorn Energy PLC, an independent energy company, engages in the exploration, development, production, and sale of oil and gas worldwide.
Market Cap
GBP 234.2M
Pitch Price
GBP 2.57
Price Target
N/A
Dividend
N/A
EV/EBITDA
5.07
P/E
-10.90
EV/Sales
1.64
Sector
Oil, Gas and Consumable Fuels
Category
value
Capricorn Energy: an ever changing company with overweight
CNE.L (overview): UK-listed Egypt-focused E&P at $241M mkt cap, $133M EV (net cash $103M). FY25: 20,024 boepd (40% liquids), $217M Egypt receipts, receivables down to $86M. Integrated PSC (Q1'26) raises gas to $4.25/mmbtu, unlocks 332 mmboe contingent resources, but adds $100M WI drilling commitment. 2026: 18-22k boepd, $85-95M capex. Bull: 3.6x EV/FCF if G&A cut (currently $24M, 76% corporate). Risks: Egypt concentration, M&A execution, $50M Senegal tax dispute, Iran oil shock.
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