공시 • Apr 23
Epsilon Energy Ltd. to Report Q1, 2026 Results on May 13, 2026 Epsilon Energy Ltd. announced that they will report Q1, 2026 results After-Market on May 13, 2026 공시 • Mar 17
Epsilon Energy Ltd., Annual General Meeting, May 20, 2026 Epsilon Energy Ltd., Annual General Meeting, May 20, 2026. 공시 • Mar 05
Epsilon Energy Ltd. Declares Dividend, Payable on March 31, 2026 Epsilon Energy Ltd. announced that its Board of Directors has declared a dividend of $0.0625 per share of common stock (annualized $0.25/sh) to the stock holders of record on March 13, 2026, payable on March 31, 2026. 공시 • Mar 04
Epsilon Energy Ltd. to Report Fiscal Year 2025 Results on Mar 24, 2026 Epsilon Energy Ltd. announced that they will report fiscal year 2025 results at 4:00 PM, US Eastern Standard Time on Mar 24, 2026 공시 • Nov 15
Epsilon Energy Ltd. Announces Board Appointments, Members of the Compensation, Nominating and Corporate Governance Committee Epsilon Energy Ltd. announced the consummation of the previously announced acquisitions of Peak Exploration and Production LLC and Peak BLM Lease LLC (together, the “Peak Companies”) (the “Closing”). The Closing followed a special meeting of the Company’s shareholders held on November 12, 2025, where the Company’s shareholders approved the issuance of common shares in connection with the acquisitions. Also at Closing, the Company’s board of directors (the “Board”) appointed Bryan H. Lawrence and Jack Vaughn to the Board. Effective as of the Closing Date, and as contemplated by the Purchase Agreements, the Board of Directors of the Company (the “ Board ”) appointed the following persons as members of the Board and as members of the Compensation, Nominating and Corporate Governance Committee and Conflicts Committee. Jack E. Vaughn, age 80, is the founder of Peak E&P and has served as the Chairman of the board of directors and the Chief Executive Officer of Peak E&P since its formation in March 2011. Mr. Vaughn has almost 50 years of experience in the exploration and production industry. From 2002 to 2011, Mr. Vaughn was the Chairman of the board of directors and Chief Executive Officer for three prior iterations of Peak E&P with projects in the Granite Wash in the Texas Panhandle, the Barnett Shale in the Ft. Worth Basin, and in the Bakken Formation in the Williston Basin of North Dakota. Prior to forming Peak E&P, Mr. Vaughn served as the Vice President–Rocky Mountain Division for EnerVest Management Partners Ltd. from 1996 to 2002. Mr. Vaughn also managed a successful San Juan Basin coal bed methane project owned by an EnerVest Management Partners Ltd. and GE Capital Oil & Gas partnership and later sold to Texaco Inc. in November 2001. Before that, Mr. Vaughn was an Executive Project Manager for the Hillman Company Energy Group, where he managed the development of a successful CBM project in the San Juan Basin from 1989 to 2002. Prior to that time, Mr. Vaughn worked as a consultant in drilling and completion operations and project management throughout the Rockies, East Texas, and the Mid-Continent for a number of independents. Mr. Vaughn started his career in 1968 with Amoco Oil Company. Mr. Vaughn also served as member of the board of directors for Bonanza Creek Energy Inc., the predecessor of Civitas Resources Inc., from April 2017 until its acquisition by Civitas in April 2021. Mr. Vaughn holds a B.S. in Petroleum Engineering from the University of Texas at Austin.Bryan H. Lawrence, age 83, is a founder and managing member Yorktown Energy Partners, which for over 25 years has managed private equity partnerships that have made investments in companies engaged in the energy industry. Mr. Lawrence was employed with the investment firm of Dillon, Read & Co. Inc. (“ Dillon Read ”) from 1966 to 1997, serving most recently as a Managing Director until Dillon Read merged with SCB Warburg in September 1997. Mr. Lawrence also serves as a director of the following publicly traded companies: Ramaco Resources Inc., Riley Exploration Permian Inc., Hallador Energy Company and Kestrel Heat LLC, the general partner of Star Group, L.P., as well as other non-public companies in the energy industry in which Yorktown holds equity interests. Mr. Lawrence is a graduate of Hamilton College and holds an M.B.A. from Columbia University. 공시 • Oct 24
Epsilon Energy Ltd. to Report Q3, 2025 Results on Nov 05, 2025 Epsilon Energy Ltd. announced that they will report Q3, 2025 results at 4:00 PM, US Eastern Standard Time on Nov 05, 2025 공시 • Sep 04
Epsilon Energy Ltd. Announces Quarterly Dividend, Payable on September 30, 2025 Epsilon Energy Ltd. announced that its Board of Directors has declared a dividend of $0.0625 per share of common stock (annualized $0.25 per share) to the stock holders of record at the close of business on September 15, 2025, payable on September 30, 2025. 공시 • Jul 29
Epsilon Energy Ltd. to Report Q2, 2025 Results on Aug 13, 2025 Epsilon Energy Ltd. announced that they will report Q2, 2025 results After-Market on Aug 13, 2025 공시 • Jun 04
Epsilon Energy Ltd. Declares Dividend, Payable on June 30, 2025 Epsilon Energy Ltd. announced that its Board of Directors has declared a dividend of $0.0625 per share of common stock (annualized $0.25/sh) to the stock holders of record at the close of business on June 13, 2025, payable on June 30, 2025. 공시 • Apr 26
Epsilon Energy Ltd. to Report Q1, 2025 Results on May 14, 2025 Epsilon Energy Ltd. announced that they will report Q1, 2025 results After-Market on May 14, 2025 공시 • Apr 25
Epsilon Energy Ltd., Annual General Meeting, May 21, 2025 Epsilon Energy Ltd., Annual General Meeting, May 21, 2025. Location: one allen center, 500 dallas street, emporium conference room, texas 77002, houston United States 공시 • Mar 01
Epsilon Energy Ltd. Declares Dividend, Payable on March 31, 2025 Epsilon Energy Ltd. announced that its Board of Directors has declared a dividend of $0.0625 per share of common stock (annualized $0.25/sh) to the stock holders of record at the close of business on March 13, 2025, payable on March 31, 2025. 공시 • Feb 28
Epsilon Energy Ltd. to Report Fiscal Year 2024 Results on Mar 19, 2025 Epsilon Energy Ltd. announced that they will report fiscal year 2024 results After-Market on Mar 19, 2025 공시 • Nov 27
Epsilon Energy Ltd. Announces Quarterly Dividend, Payable on December 31, 2024 Epsilon Energy Ltd. announced that its Board of Directors has declared a dividend of $0.0625 per share of common stock (annualized $0.25/sh) to the stock holders of record at the close of business on December 16, 2024, payable on December 31, 2024. 공시 • Oct 23
Epsilon Energy Ltd. to Report Q3, 2024 Results on Nov 06, 2024 Epsilon Energy Ltd. announced that they will report Q3, 2024 results After-Market on Nov 06, 2024 공시 • Aug 28
Epsilon Energy Ltd. Announces Quarterly Dividend, Payable on September 30 2024 Epsilon Energy Ltd. announced that its Board of Directors has declared a dividend of $0.0625 per share of common stock (annualized $0.25/sh) to the stock holders of record at the close of business on September 13th 2024, payable on September 30th 2024. 공시 • Jul 25
Epsilon Energy Ltd. to Report Q2, 2024 Results on Aug 13, 2024 Epsilon Energy Ltd. announced that they will report Q2, 2024 results at 4:00 PM, US Eastern Standard Time on Aug 13, 2024 공시 • Jun 01
Epsilon Energy Ltd. Declares Quarterly Dividend, Payable on June 28, 2024 Epsilon Energy Ltd. announced that its Board of Directors has declared a dividend of $0.0625 per share of common stock (annualized $0.25/sh) to the stock holders of record at the close of business on June 14, 2024, payable on June 28, 2024. Recent Insider Transactions • May 24
President recently bought US$139k worth of stock On the 23rd of May, Jason Stabell bought around 26k shares on-market at roughly US$5.36 per share. This transaction amounted to 6.1% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger purchase worth US$191k. Jason has been a buyer over the last 12 months, purchasing a net total of US$3.3m worth in shares. Reported Earnings • May 10
First quarter 2024 earnings released: EPS: US$0.069 (vs US$0.15 in 1Q 2023) First quarter 2024 results: EPS: US$0.069 (down from US$0.15 in 1Q 2023). Revenue: US$7.99m (down 15% from 1Q 2023). Net income: US$1.51m (down 57% from 1Q 2023). Profit margin: 19% (down from 38% in 1Q 2023). The decrease in margin was primarily driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 20% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth. 공시 • Apr 28
Epsilon Energy Ltd. to Report Q1, 2024 Results on May 08, 2024 Epsilon Energy Ltd. announced that they will report Q1, 2024 results at 4:00 PM, US Eastern Standard Time on May 08, 2024 Recent Insider Transactions • Mar 30
President recently bought US$191k worth of stock On the 27th of March, Jason Stabell bought around 36k shares on-market at roughly US$5.25 per share. This transaction amounted to 9.3% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger purchase worth US$1.2m. Jason has been a buyer over the last 12 months, purchasing a net total of US$3.2m worth in shares. New Risk • Mar 21
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 23% Last year net profit margin: 51% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Minor Risks Paying a dividend despite having no free cash flows. Profit margins are more than 30% lower than last year (23% net profit margin). Declared Dividend • Mar 08
Third quarter dividend of CA$0.063 announced Shareholders will receive a dividend of CA$0.063. Ex-date: 14th March 2024 Payment date: 29th March 2024 Dividend yield will be 5.0%, which is higher than the industry average of 4.5%. Sustainability & Growth Dividend is covered by earnings (41% earnings payout ratio) but not covered by cash flows (116% cash payout ratio). The dividend has not increased over the past 2 years but payments have been stable during that time. Earnings per share has grown by 13% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Recent Insider Transactions • Feb 10
President recently bought US$1.2m worth of stock On the 7th of February, Jason Stabell bought around 245k shares on-market at roughly US$4.82 per share. This transaction increased Jason's direct individual holding by 2x at the time of the trade. This was the largest purchase by an insider in the last 3 months. Jason has been a buyer over the last 12 months, purchasing a net total of US$2.8m worth in shares. Buy Or Sell Opportunity • Feb 03
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 16% to US$4.84. The fair value is estimated to be US$6.12, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 29% over the last 3 years. Earnings per share has grown by 67%. Recent Insider Transactions • Feb 02
President recently bought US$1.2m worth of stock On the 30th of January, Jason Stabell bought around 245k shares on-market at roughly US$4.82 per share. This transaction increased Jason's direct individual holding by 2x at the time of the trade. This was the largest purchase by an insider in the last 3 months. Jason has been a buyer over the last 12 months, purchasing a net total of US$1.6m worth in shares. Buying Opportunity • Jan 10
Now 22% undervalued after recent price drop Over the last 90 days, the stock is down 9.7%. The fair value is estimated to be US$6.13, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 29% over the last 3 years. Earnings per share has grown by 67%. 공시 • Dec 05
Epsilon Energy Ltd. Declares Quarterly Dividend, Payable on December 29, 2023 Epsilon Energy Ltd. announced that its Board of Directors has declared a dividend of $0.0625 per share of common stock (annualized $0.25/sh) to the stock holders of record at the close of business on December 15th 2023, payable on December 29th 2023. Recent Insider Transactions • Nov 20
President recently bought US$92k worth of stock On the 17th of November, Jason Stabell bought around 17k shares on-market at roughly US$5.45 per share. This transaction amounted to 13% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Jason has been a buyer over the last 12 months, purchasing a net total of US$421k worth in shares. Reported Earnings • Nov 11
Third quarter 2023 earnings released: EPS: US$0.018 (vs US$0.42 in 3Q 2022) Third quarter 2023 results: EPS: US$0.018 (down from US$0.42 in 3Q 2022). Revenue: US$6.31m (down 70% from 3Q 2022). Net income: US$388.8k (down 96% from 3Q 2022). Profit margin: 6.2% (down from 45% in 3Q 2022). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 67% per year but the company’s share price has only increased by 20% per year, which means it is significantly lagging earnings growth. 공시 • Oct 27
Epsilon Energy Ltd. to Report Q3, 2023 Results on Nov 09, 2023 Epsilon Energy Ltd. announced that they will report Q3, 2023 results at 4:00 PM, US Eastern Standard Time on Nov 09, 2023 Upcoming Dividend • Sep 07
Upcoming dividend of US$0.063 per share at 4.6% yield Eligible shareholders must have bought the stock before 14 September 2023. Payment date: 29 September 2023. Payout ratio is a comfortable 25% and this is well supported by cash flows. Trailing yield: 4.6%. Lower than top quartile of American dividend payers (4.9%). In line with average of industry peers (4.2%). Valuation Update With 7 Day Price Move • Aug 17
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to US$5.30, the stock trades at a trailing P/E ratio of 5.1x. Average trailing P/E is 7x in the Oil and Gas industry in the US. Total returns to shareholders of 77% over the past three years. Reported Earnings • Aug 13
Second quarter 2023 earnings released: EPS: US$0.019 (vs US$0.45 in 2Q 2022) Second quarter 2023 results: EPS: US$0.019 (down from US$0.45 in 2Q 2022). Revenue: US$6.50m (down 67% from 2Q 2022). Net income: US$430.6k (down 96% from 2Q 2022). Profit margin: 6.6% (down from 53% in 2Q 2022). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 84% per year but the company’s share price has only increased by 23% per year, which means it is significantly lagging earnings growth. 공시 • Jul 29
Epsilon Energy Ltd. to Report Q2, 2023 Results on Aug 10, 2023 Epsilon Energy Ltd. announced that they will report Q2, 2023 results at 4:00 PM, US Eastern Standard Time on Aug 10, 2023 Recent Insider Transactions • Jun 22
President recently bought US$58k worth of stock On the 16th of June, Jason Stabell bought around 11k shares on-market at roughly US$5.12 per share. This transaction amounted to 14% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger purchase worth US$123k. Jason has been a buyer over the last 12 months, purchasing a net total of US$271k worth in shares. Recent Insider Transactions • Jun 17
President recently bought US$90k worth of stock On the 9th of June, Jason Stabell bought around 18k shares on-market at roughly US$5.01 per share. This transaction amounted to 30% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger purchase worth US$123k. Jason has been a buyer over the last 12 months, purchasing a net total of US$213k worth in shares. 공시 • Jun 16
Epsilon Energy Ltd., Annual General Meeting, Aug 17, 2023 Epsilon Energy Ltd., Annual General Meeting, Aug 17, 2023. 공시 • Jun 08
Epsilon Energy Ltd. Announces Quarterly Dividend, Payable on June 30 2023 Epsilon Energy Ltd. announced that its Board of Directors has declared a dividend of $0.0625 per share of common stock (annualized $0.25 per share) to the stock holders of record at the close of business on June 15th 2023, payable on June 30th 2023. 공시 • May 20
Epsilon Energy Ltd. Appoints Nicola Maddox to the Board Epsilon Energy Ltd. announced that its Board of Directors has appointed Nicola Maddox to the Board, effective immediately. Ms. Maddox will serve an initial term expiring at Epsilons 2023 Annual General Meeting of Shareholders and will stand for reelection at that time. The Board has also appointed Ms. Maddox to serve as a member of the Compensation, Nominating and Corporate Governance Committee, effective immediately. Nicki Maddox has over forty years experience in the oil and gas industry, including positions with majors (Exxon Minerals and Phillips Petroleum), a large independent (Coastal). and small, privately held E&P companies (Wessely Energy, Centurion Exploration and Merlon International). After receiving her BA in Communications, she was employed by Exxon Minerals as an Associate Landman and progressed rapidly to first-line management positions, then to middle management positions in various Land Departments, and to Executive Management positions starting in 1993. She was a co-founder of Centurion Exploration Company in 2004, initially serving as an EVP and then becoming its President, CEO and Chairman of the Board from 2007 to 2009. At Merlon International, LLC, Ms. Maddox was SVP in charge of its Texas subsidiary. She advanced to EVP and ultimately President after Merlon sold its Egyptian subsidiary in 2019. Since 2022, she has been a self-employed energy advisor specializing in contract analysis, strategic planning, and negotiation strategies. She also holds an MA in Theological Studies from The University of St. Thomas in Houston, Texas. 공시 • May 17
Epsilon Energy Ltd. (NasdaqGM:EPSN) acquired 25% stake in 1,297 gross acres located in Ector County, Texas on the Central Basin Platform. Epsilon Energy Ltd. (NasdaqGM:EPSN) acquired 25% stake in 1,297 gross acres located in Ector County, Texas on the Central Basin Platform on May 16, 2023. Epsilon acquired it along with 11,076 acre position interest with a combined deal value of $14 million.Epsilon Energy Ltd. (NasdaqGM:EPSN) completed the acquisition of 25% stake in 1,297 gross acres located in Ector County, Texas on the Central Basin Platform on May 16, 2023 Reported Earnings • May 11
First quarter 2023 earnings released: EPS: US$0.15 (vs US$0.24 in 1Q 2022) First quarter 2023 results: EPS: US$0.15 (down from US$0.24 in 1Q 2022). Revenue: US$9.36m (down 31% from 1Q 2022). Net income: US$3.53m (down 39% from 1Q 2022). Profit margin: 38% (down from 43% in 1Q 2022). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 90% per year but the company’s share price has only increased by 22% per year, which means it is significantly lagging earnings growth. Reported Earnings • Mar 25
Full year 2022 earnings released: EPS: US$1.52 (vs US$0.49 in FY 2021) Full year 2022 results: EPS: US$1.52 (up from US$0.49 in FY 2021). Revenue: US$70.0m (up 65% from FY 2021). Net income: US$35.4m (up 204% from FY 2021). Profit margin: 51% (up from 27% in FY 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 86% per year but the company’s share price has only increased by 27% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Mar 15
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to US$4.87, the stock trades at a trailing P/E ratio of 3.3x. Average trailing P/E is 6x in the Oil and Gas industry in the US. Total returns to shareholders of 95% over the past three years. Reported Earnings • Nov 16
Third quarter 2022 earnings released: EPS: US$0.42 (vs US$0.059 in 3Q 2021) Third quarter 2022 results: EPS: US$0.42 (up from US$0.059 in 3Q 2021). Revenue: US$21.2m (up 62% from 3Q 2021). Net income: US$9.61m (up US$8.21m from 3Q 2021). Profit margin: 45% (up from 11% in 3Q 2021). Over the last 3 years on average, earnings per share has increased by 74% per year but the company’s share price has only increased by 32% per year, which means it is significantly lagging earnings growth. Reported Earnings • Nov 12
Third quarter 2022 earnings released: EPS: US$0.42 (vs US$0.059 in 3Q 2021) Third quarter 2022 results: EPS: US$0.42 (up from US$0.059 in 3Q 2021). Revenue: US$21.2m (up 62% from 3Q 2021). Net income: US$9.61m (up US$8.21m from 3Q 2021). Profit margin: 45% (up from 11% in 3Q 2021). Over the last 3 years on average, earnings per share has increased by 74% per year but the company’s share price has only increased by 27% per year, which means it is significantly lagging earnings growth. 공시 • Nov 03
Epsilon Energy Ltd. to Report Q3, 2022 Results on Nov 10, 2022 Epsilon Energy Ltd. announced that they will report Q3, 2022 results at 4:00 PM, US Eastern Standard Time on Nov 10, 2022 Seeking Alpha • Oct 03
Epsilon Energy: Safer Than A Lot Of Larger Natural Gas Companies Summary
Epsilon Energy has less risk than many larger upstream competitors.
Operating risk is reduced by using established operators for the leases.
The company loses some control over the pace of development as a result.
Financial risk is reduced by having a large cash balance and a debt-free balance sheet.
Oklahoma will be the source of a lot of future growth.
(This article was in the newsletter August 23, 2022, and has been updated as needed.)
Epsilon Energy (NASDAQ:EPSN) overcomes the small company risk that is typical of a lot of companies in the industry by managing to avoid the things that cause a lot of stock price volatility. This is combined with a rock-solid balance sheet to minimize financial risk. The whole strategic package is a smaller company with an unusual amount of safety not often seen even in the larger upstream operators of the industry.
The company reported a second quarter cash balance of $30 million. The cash balance is large enough to pay off all liabilities while still having more cash left in the true Graham and Dodd fashion. Companies in the industry with debt-free balance sheets are not all that common. A large cash balance, as is the case for a company of this size, protects the stock from too much downward pressure because cash is considered a fluid source of funds.
Secondly, the company has an interest in a midstream operation. Midstream operations traditionally do not vary anywhere near as much as upstream. So, there is a steady cash flow available from the midstream operations that many upstream operators lack.
Not An Operator
This company does not operate any of its leases. Instead, management usually has well-established operators that operate the leases. This frees up a considerable amount of personnel expense. However, it also introduces less control over the development pace of the leases where the company has an interest. This fact does necessitate a decent cash balance and low debt so the company can maximize the participation choices once an operator proposes a development pace.
To some extent, the perceived lack of control over the pace of lease development can be offset by contractual agreements. But other factors, like commodity prices are beyond control of the operator. Yet a lot of those factors will control the pace of lease development. In the current environment, any and all parties are likely to develop the company leases at a decent pace.
Investors need to remember that this is a small company. So, production growth can be lumpy. With larger companies that are constantly drilling and completing wells, relatively smooth and predictable production growth results. Here, one project can have a material result on the company-reported production until the next project completes. There is also the factor that the company interest varies by leases developed. So, some projects have considerably more effects upon future reporting than others.
Operating Areas Of Interest
This company operates principally in two basins: the Scoop and Stack area in Oklahoma and the Marcellus in Susquehanna County, Pennsylvania.
Epsilon Energy Marcellus Lease Holdings (Epslon Energy November 2021, Corporate Presentation)
The established operator of these leases is Chesapeake Energy (CHK). That is a long-standing relationship with the company that goes back about a decade or so.
What is new for the company is the establishment of Upper Marcellus production. Previously all the production came from the Lower Marcellus. That opens up an avenue for some future production growth in a situation that was perceived to be maturing in the past (with of course future production declines expected).
The other possible area of growth from continuing technology improvements is the ability to recover more natural gas. The unconventional business is fairly young. Therefore, recovery estimates are relatively low when compared to a lot of conventional opportunities. That is likely to change in the future as technology continues its forward march.
Epsilon Energy Oklahoma Lease Holdings (Epsilon Energy November 2021, Corporate Presentation)
The emphasis on growth will lead to a fair amount of development of the relatively recent acquisition of the Oklahoma leases. The total holdings of leases are far larger than is the case for the Marcellus. The current pricing of various commodities has probably made all the lease areas a potential target for development.
The emphasis on liquids-rich areas as noted by management should give the company a profit flexibility that it never had with the Marcellus leases. Generally, liquids-rich development projects have higher costs. But they also offer a more valuable mix of end products. So, it will be interesting to see how the future strategy unfolds as commodity prices vary over time. That mix of end products can make these leases very profitable under potentially more industry conditions than simply dry gas alone. A lot will depend upon relative production costs in both sets of leases.
Already, these leases have led to an increase in reported oil sales. The dry gas produced in Pennsylvania has an insignificant amount of liquids. The quantity was so small that there really was no overall effect on the average selling price. That is slowly beginning to change as the Oklahoma production begins to grow.
Cash Flow
Management reported about $15 million in cash flow at the six-month benchmark. That is easily the highest cash flow in some time (if not ever). Share repurchases are underway to also support the price of the stock.
There is a new CEO here that the outgoing CEO helped to choose. That means that the transition to the new management will likely be smooth. There is not a lot of operational risk here to begin with because the company relies upon established operators.
The major future risk would be that the remaining lease inventory would not be productive or competitive in future environments. So far that appears to be unlikely.
The Future
This management has navigated a lot of industry challenges over the years and comes through with a pristine balance sheet that protects against a lot of downside risk. Not many competitors can say that. Upcoming Dividend • Sep 07
Upcoming dividend of US$0.063 per share Eligible shareholders must have bought the stock before 14 September 2022. Payment date: 30 September 2022. Payout ratio is a comfortable 11% and this is well supported by cash flows. Trailing yield: 3.7%. Lower than top quartile of American dividend payers (4.3%). Lower than average of industry peers (4.6%). 공시 • Sep 01
Epsilon Energy Ltd. Declares Dividend, Payable on September 30, 2022 Epsilon Energy Ltd. announced that its board of directors has declared a dividend of $0.0625 per share of common stock (annualized $0.25/sh) to the stock holders of record at the close of business on September 15, 2022, payable on September 30, 2022. Reported Earnings • Aug 12
Second quarter 2022 earnings released: EPS: US$0.45 (vs US$0.02 loss in 2Q 2021) Second quarter 2022 results: EPS: US$0.45 (up from US$0.02 loss in 2Q 2021). Revenue: US$19.9m (up 181% from 2Q 2021). Net income: US$10.6m (up US$11.1m from 2Q 2021). Profit margin: 53% (up from net loss in 2Q 2021). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 47% per year but the company’s share price has only increased by 22% per year, which means it is significantly lagging earnings growth. 공시 • Jun 26
Epsilon Energy Ltd.(NasdaqGM:EPSN) dropped from Russell Microcap Value Index Epsilon Energy Ltd.(NasdaqGM:EPSN) dropped from Russell Microcap Value Index Upcoming Dividend • Jun 07
Upcoming dividend of US$0.063 per share Eligible shareholders must have bought the stock before 14 June 2022. Payment date: 30 June 2022. Payout ratio is a comfortable 10% and this is well supported by cash flows. Trailing yield: 3.5%. Lower than top quartile of American dividend payers (3.9%). Lower than average of industry peers (3.9%). 공시 • Jun 01
Epsilon Energy Ltd. Declares Dividend , Payable on June 30 2022 Epsilon Energy Ltd. declared a dividend of $0.0625 per share of common stock (annualized $0.25/share) to the stock holders of record at the close of business on June 15th 2022, payable on June 30th 2022. Reported Earnings • May 13
First quarter 2022 earnings released: EPS: US$0.24 (vs US$0.11 in 1Q 2021) First quarter 2022 results: EPS: US$0.24 (up from US$0.11 in 1Q 2021). Revenue: US$13.6m (up 61% from 1Q 2021). Net income: US$5.81m (up 112% from 1Q 2021). Profit margin: 43% (up from 32% in 1Q 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 17% per year whereas the company’s share price has increased by 18% per year. Buying Opportunity • May 09
Now 21% undervalued Over the last 90 days, the stock is up 26%. The fair value is estimated to be US$8.80, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 5.8% over the last 3 years. Earnings per share has declined by 5.7%. Valuation Update With 7 Day Price Move • Apr 19
Investor sentiment improved over the past week After last week's 16% share price gain to US$7.33, the stock trades at a trailing P/E ratio of 14.9x. Average trailing P/E is 15x in the Oil and Gas industry in the US. Total returns to shareholders of 63% over the past three years. 공시 • Apr 02
Epsilon Energy Ltd., Annual General Meeting, Jun 02, 2022 Epsilon Energy Ltd., Annual General Meeting, Jun 02, 2022. Reported Earnings • Nov 12
Third quarter 2021 earnings released: EPS US$0.059 (vs US$0.012 loss in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: US$13.1m (up 125% from 3Q 2020). Net income: US$1.40m (up US$1.69m from 3Q 2020). Profit margin: 11% (up from net loss in 3Q 2020). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 33% per year but the company’s share price has increased by 8% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Sep 30
Investor sentiment improved over the past week After last week's 24% share price gain to US$6.44, the stock trades at a trailing P/E ratio of 44.8x. Average trailing P/E is 20x in the Oil and Gas industry in the US. Total returns to shareholders of 61% over the past three years. Reported Earnings • Aug 14
Second quarter 2021 earnings released: US$0.02 loss per share (vs US$0.022 loss in 2Q 2020) The company reported a solid second quarter result with reduced losses, improved revenues and improved control over expenses. Second quarter 2021 results: Revenue: US$7.09m (up 13% from 2Q 2020). Net loss: US$485.0k (loss narrowed 14% from 2Q 2020). Over the last 3 years on average, earnings per share has fallen by 36% per year but the company’s share price has increased by 9% per year, which means it is well ahead of earnings. Reported Earnings • May 09
First quarter 2021 earnings released: EPS US$0.11 (vs US$0.012 in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: US$8.44m (up 31% from 1Q 2020). Net income: US$2.74m (up US$2.43m from 1Q 2020). Profit margin: 32% (up from 4.8% in 1Q 2020). The increase in margin was primarily driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 36% per year but the company’s share price has remained flat, which means it is well ahead of earnings. Reported Earnings • Mar 29
Full year 2020 earnings released: EPS US$0.035 (vs US$0.32 in FY 2019) The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2020 results: Revenue: US$24.4m (down 8.5% from FY 2019). Net income: US$875.2k (down 90% from FY 2019). Profit margin: 3.6% (down from 33% in FY 2019). The decrease in margin was primarily driven by higher expenses. Oil reserves and sales price Proven reserves: 0.371 MMbbls Average sales price/bbl (hedged): US$22.66 Gas reserves and sales price Proven reserves: 88.658 Bcf Average sales price/mcf (hedged): US$1.36 Combined production Oil equivalent production: 1.882 MMboe (1.308 MMboe in FY 2019) Over the last 3 years on average, earnings per share has fallen by 31% per year but the company’s share price has increased by 1% per year, which means it is well ahead of earnings.