Kistos Holdings (KIST · LSE)

IndustrialsEnergy & MaterialsLSEUKMicro

Keeping the Lights On: Kistos’ North Sea Contribution

Providing the country with domestic gas and flexible storage, while offering exposure to a potential North Sea revival if policy shifts.

Kistos Holdings Plc

KIST: LSE

312.00 GBp

+74.30%

year to date

Market Cap£242.70M

Avg Volume633.95K

PriceGBp312.00+3.14%

P/E Ratio8.31fwd

Pricing delayed 20 minutes Sep 7, 2026, 12:00 AM

High‑Margin, Long‑Life Production from Balder
Low‑cost Norwegian oil is ramping now and set to deliver cash flows for many years.
Cash‑Generating Gas Storage in the UK
Larger UK storage lets the company buy gas cheaply, sell into winter, and smooth earnings.
Undervalued Relative to Asset Base
Strong reserves and an expected Norwegian tax refund this December can highlight value as operations scale.

Tax Overhang
UK policy uncertainty sustains a valuation discount and slows project sanctioning.
Ramp-Up Execution
Balder X flow timing or liftings slip, deferring expected free cash generation.
Undervalued Versus Asset Base
Higher leverage constrains options if prices weaken or opex surprises.