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Highlights

  • Enwell’s revenue fell 28% YoY to USD 44.9 million for the year ended 31 December 2024.
  • Annual profit declined 10.2% to USD 23.7 million, reflecting lower production and pricing impact.
  • Cash and cash equivalents rose 29.9% YoY to USD 99.4 million, boosting operational liquidity.

Enwell Energy PLC (LSE: ENW), listed on the FTSE AIM All-Share, is a UK-based company engaged in oil and gas exploration and development in Ukraine. It operates four fields, three in the Poltava region and one in the Kharkiv region, producing over 2,000 barrels of oil equivalent per day.

For the year ended 31 December 2024, the company recorded revenue of USD 44.9 million, a decrease of 28.0% from USD 62.1 million in FY23. Profit for the year was USD 23.7 million, down 10.2% from USD 26.4 million in the previous period. While revenue and profit declined, cash and cash equivalents increased 29.9% year-on-year to USD 99.4 million from USD 76.5 million in FY23. The higher cash balance provides additional liquidity to support operations and potential strategic decisions.

Business Update

On 4 July 2025, the company announced that it is maintaining progress on its SC exploration asset by advancing development planning. Work includes evaluating both the construction of new dedicated processing facilities and the potential for a connection to existing infrastructure.

On the same date, the company stated that management is actively addressing the suspension of its core production licences, noting that this remains a principal focus with dedicated resources and attention.

Company Outlook

The company’s near-term development programme is expected to be funded from existing cash reserves and operational cash flow, without immediate reliance on external financing. It is actively challenging the licence suspensions through legal channels while also exploring interim measures to support a restoration of operations. Despite the suspensions, the company remains focused on its core assets and continues planning activities aimed at preserving the value of its portfolio over the longer term.

Top 10 Shareholders

Stock Information 
Shares of ENW closed at GBX 23.5 on 28 August, up 11.9% intraday (+GBX 2.5). The stock gained 9.3% over the past week and 51.6% in the past month. Its 52-week range spans GBX 12.5 to GBX 34.6, leaving it about 32% below the yearly high. Year-to-date, Enwell shares are up 6.8%.

Note 1: Past performance is not a reliable indicator of future performance.
Note 2: The reference data for all price data, currency, technical indicators, support, and resistance levels Is 28 August 2025. The reference data in this report has been partly sourced from EODHD/Others.

Technical Indicators Defined

Support: A level at which the stock prices tend to find support if they are falling, and a downtrend may take a pause backed by demand or buying interest. Support 1 refers to the nearby support level for the stock and if the price breaches the level, then Support 2 may act as the crucial support level for the stock.

Resistance: A level at which the stock prices tend to find resistance when they are rising, and an uptrend may take a pause due to profit booking or selling interest. Resistance 1 refers to the nearby resistance level for the stock and if the price surpasses the level, then Resistance 2 may act as the crucial resistance level for the stock.