Cooper Energy Limited (COE)



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General Information
Company Name: Cooper Energy Limited
Stock Code: COE
Website: www.cooperenergy.com.au
GICS Sub-Industry: Oil & Gas Exploration & Production
Market Cap ($M): 133
Equiv. Shares (M): 329

Current Price Data+
Current Price Open High Low Last Close Volume Price Movement
$ 0.405 $ 0.400 $ 0.405 $ 0.400 $ 0.405 297,370 0%

Current Broker Consensus Recommendation more
Recommendation: Buy (2)
Recommendation Date: 12th Nov 2014
Brokers Surveyed: 3

Company Overview

Business Description:
Cooper Energy Limited (COE) is an exploration and production company focusing on oil and gas. COE has a portfolio comprising of prospective acreage in the Cooper, Otway and Gippsland basins Australia, South Sumatra, Indonesia and the Gulf of Hammamet, Tunisia.

Strategy Analysis:
As a conventional oil and gas explorer/producer, COE maintains activity in all focus areas. Exploration is taking place in Australia (Cooper and Otway basins), Indonesia, Tunisia and Romania whilst production is generated in Australia and Indonesia only. COE has budgeted for 2011 exploration expenditure with a domestic focus. Further production is contingent on the funding, and success of, exploration Cooper Energy reported NPAT of $4.56m for the half-year ended 31 December 2012. Revenues from ordinary activities were $23.37m, down 9.4% from last year. Basic and Diluted EPS were 1.4 cents compared to (1.9) cents last year. Net operating cash flow was $2.13m compared to $13.03m last year. No dividend was declared.


Financial Summary
Year to Jun NPAT EPS EPS chg (%) PER DPS Yield (%) Franking (%)
2016  F -- 3.6 -4.5 11.2 4.5 11.1 --
2015  F -- 3.8 -41.6 10.7 -- 0.0 --
2014  A 22.2 6.5 NaN 7.3 0.0 0.0 --
Source: Aspect actuals / Thomson IBES estimates

Peer Comparison
EPS Growth (%) P/E (%) Dividend Yield (%)
Company Mkt Cap 2014 A 2015 F 2016 F 2014 A 2015 F 2016 F 2014 A 2015 F 2016 F
Beach Energy (BPT) $1,317 M 0.8455 -0.3936 0.0515 5.1159 8.4372 8.0237 1.97 3.94 4.66
Cooper Energy (COE) $133 M 11.6862 -0.4158 -0.0450 6.2597 10.7143 11.2188 0.00 0.00 11.09
Oil Search (OSH) $12,456 M 0.5489 1.2503 0.5998 47.8363 21.2578 13.2878 0.55 1.54 2.92
Santos (STO) $11,483 M 0.1518 0.1245 0.3917 22.5371 20.0411 14.4001 2.57 3.46 4.54
Woodside Petroleum (WPL) $31,679 M -0.0512 0.4517 -0.1688 16.6364 11.4602 13.7868 7.24 6.93 5.80

Market Comparison
Earnings P/E Ratio P/B Ratio P/E Growth P/S Ratio
COE 0.75 7.49 0.79 10.00 1.88
Market 0.92 15.1 1.19 1.73 1.50
Sector 1.03 11.5 0.75 0.83 3.69

Directors
Name Position Start Date
Mr Hector Mackenzie Gordon Executive Director 26 June 2012
Mr David Maxwell Managing Director 12 October 2011
Mr John Craig Conde Non-Executive Chairman 25 February 2013
Mr Jeffrey Warrington Schneider Non-Executive Director 12 October 2011
Ms Alice Joan Morrice Williams Non-Executive Director 28 August 2013

Management
Name Position
Jason de Ross Chief Financial Officer,Company Secretary
Eddy Glavas Commercial & Business Development Manager
Alison Evans Company Secretary,Legal Counsel
Andrew Thomas Exploration Manager
Iain MacDougall Operations Manager

Substantial Shareholders
Holding Name
17,610,891 (5.35%) National Australia Bank Limited
20,924,029 (7.15%) Kinetic Investment Partners Limited
8,987,550 (6.56%) Acorn Capital Limited
60,590,884 (18.41%) Beach Energy Limited

Calendar of Events
Date Event
23 October 2015 Report (Quarterly)
02 October 2015 Report (Annual)
17 August 2015 Report (Prelim)
21 July 2015 Report (Quarterly)
28 April 2015 Report (Quarterly)
16 February 2015 Report (Interim)
19 January 2015 Report (Quarterly)
© 2011 Morningstar, Inc. All rights reserved. The data and content contained herein are not guaranteed to be accurate, complete or timely. Neither Morningstar, nor its affiliates nor their content providers will have any liability for use or distribution of any of this information. To the extent that any of the content above constitutes advice, it is general advice that has been prepared by Morningstar Australasia Pty Ltd ABN: 95 090 665 544, AFSL: 240892 (a subsidiary of Morningstar, Inc.), without reference to your objectives, financial situation or needs. Before acting on any advice, you should consider the appropriateness of the advice and we recommend you obtain financial, legal and taxation advice before making any financial investment decision. If applicable investors should obtain the relevant product disclosure statement and consider it before making any decision to invest. Some material is copyright and published under licence from ASX Operations Pty Limited ACN 004 523 782 ("ASXO"). DISCLOSURE: Employees may have an interest in the securities discussed in this report. Please refer to our Financial Services Guide (FSG) for more information at www.morningstar.com.au/fsg.asp.

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