High energy prices have boosted UK small cap fossil fuel companies, lifting their share prices and allowing some to register rare profits.
Seven of the 10 best performing stocks on London’s junior Aim market are fossil fuel companies, with four focusing on UK oil and gas production, as the market rides the surge in prices since Russia invaded Ukraine.
Companies like IGas Energy, Egdon Resources, Union Jack Oil and Angus Energy have been among the best performing stocks on Aim in the year to date, with share prices at least doubling — albeit from a low base.
Egdon Resources plc (LON:EDR) is an independent onshore focused oil and gas exploration and production business. An established oil and gas exploration and production business with 41 licences in proven oil and gas producing basins in the UK.