The financial times published yesterday an article explaining that Europe as a whole had no choice but to rely on natural gas. Indeed, the Swiss recommended decommissioning its five nuclear reactors, Italy is also backtracking on its plan to relaunch nuclear power so any domestic supply of gas in Europe will be worth a lot more than anywhere else in the world. EGL with its 15 TCF or more of contingent resources just need to convert a fraction of this into 3P to be worth a high multiple of its current valuation in my view. That's why I am still positive on this counter.
EPG Price at posting:
45.0¢ Sentiment: Buy Disclosure: Held
