Jump to content

RSE.L - Riverstone Energy

Recommended Posts

This is an oil and gas private equity fund listed on the London stock exchange, which I think is undervalued.


Current share price is GBP 2.50, giving it a market cap of GBP 199 million = $245 million.



Last week it released its valuation statement:



stating on 31st March 2020 the value of its investments was $218 million, plus $211 million cash. Total: $429 million

And that it is spending $50 million of that cash on share buy-backs, with "No maximum consideration", but not higher than NAV.


The value of WTI oil on 31st March 2020 was $20.48, and today it is around $22.


The share price rose from GBP £1.60 on the release of this statement.


My thinking is that even if the company does not follow though on the buybacks, such that the discount to NAV remains, it might be a good recovery play on the recovery in the value of these oil assets. Back on Dec 2019 when WTI was at $60, the latest annual report:




has the NAV as $593 million + cash $183 million = $776 million , and the share price was £GBP 4.14


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
  • Create New...