MEO Australia Limited (MEO)



Welcome to InvestSMART

You are currently viewing our site as a guest, which gives you limited access to our site features. By signing up for a free membership, you will receive our Investment Opportunity newsletters and have access to additional features for finding and comparing managed funds and shares. Registration is fast and simple, so please:

Sign Up Today » it's FREE! Already a member? Login now!


General Information
Company Name: MEO Australia Limited
Stock Code: MEO
Website: www.meoaustralia.com.au
GICS Sub-Industry: Oil & Gas Exploration & Production
Market Cap ($M): 23
Equiv. Shares (M): 750

Current Price Data+
Current Price Open High Low Last Close Volume Price Movement
 $ 0.030 $ 0.031 $ 0.031 $ 0.030 $ 0.031 51,767 $ -0.001  -3.226 %

Company Overview

Business Description:
MEO Australia Limited (MEO) is an independent oil and gas exploration company. MEO has a diverse portfolio of exploration and appraisal projects located offshore North West Australia, Indonesia and the Gulf of Thailand. The portfolio currently has 2C contingent resoruces of 110MMboe, with additional un-risked prospective resources of 1,667MMboe (best estimate).

Strategy Analysis:
MEO aims to complete a successful farm-out of an interest in NT/P68 which should lead to exploration drilling in 2011. With cash in hand and other companies seeking to relinquish interests in Timor Sea gas resources, MEO are actively looking for the right opportunity to secure a gas supply to enable the Tassie Shoal projects to progress. MEO Australia reported negative cash flow of $6.24m for quarter ended 31 December 2012. Operating cash flow for the period was $(25.07m). Payments for exploration and evaluation were $(23.78m). Investing cash flow was $(7,000). Financing cash flow was $18.84m. Cash in hand at the end of the quarter was $42.38m.


Financial Summary
Year to Jun NPAT EPS EPS chg (%) PER DPS Yield (%) Franking (%)
2014  A -135.9 -21.1 -- 0.0 0.0 0.0 --
2013  A -67.2 -11.3 -- 0.0 0.0 0.0 --
2012  A -5.7 -1.1 -- 0.0 0.0 0.0 --
Source: Aspect actuals / Thomson IBES estimates

Peer Comparison
EPS Growth (%) P/E (%) Dividend Yield (%)
Company Mkt Cap 2012 A 2013 F 2014 F 2012 A 2013 F 2014 F 2012 A 2013 F 2014 F
Beach Energy (BPT) $1,628 M 0.8455 -0.2898 -0.0703 6.3256 8.9070 9.5802 3.19 3.19 6.95
MEO Australia (MEO) $22 M -- -- -- -- -- -- 0.00 -- --
Oil Search (OSH) $13,065 M 0.5489 1.5175 0.4035 50.1754 19.9303 14.2006 0.52 0.96 3.04
Santos (STO) $12,416 M 0.1518 0.3667 0.4174 24.3686 17.8304 12.5796 2.37 3.16 4.62
Woodside Petroleum (WPL) $32,676 M -0.0512 0.3932 0.0144 17.1599 12.3168 12.1422 7.02 6.45 6.60

Market Comparison
Earnings P/E Ratio P/B Ratio P/E Growth P/S Ratio
MEO -- -- 0.87 -- --
Market 0.89 14.9 1.21 1.68 1.48
Sector 1.13 11.9 0.85 0.67 4.64

Directors
Name Position Start Date
Mr Jurgen Hendrich Chief Executive Officer,Managing Director 25 July 2008
Mr Michael J F Sweeney Non-Executive Director 01 October 2008
Mr Stephen Hopley Non-Executive Director 01 October 2008
Mr Gregory Allen Short Non-Executive Director,Non-Executive Chairman 14 July 2008

Management
Name Position
Colin Naylor Chief Financial Officer,Company Secretary
R J D Gard Commercial Manager
R Zammit Executive Manager Business Development
P Stickland Exploration Manager
K Hendrick Implementation Manager

Substantial Shareholders
Holding Name
32,351,482 (5.16%) Raydale Holdings Pty Ltd
40,816,327 (6.51%) Asian Energy Ltd

Calendar of Events
Date Event
25 September 2015 Report (Annual)
24 July 2015 Report (Quarterly)
28 April 2015 Report (Quarterly)
15 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.

Advertisement

Trade Shares Online from $19.95^
Free Guides

The SMH Guide to Investing and Trading in US Shares

An educational booklet that shows how to use international share trading to diversify your investments.

More details...

News

The Importance of Ignoring the Noise of the Market

Carl Richards, director of investor education at the BAM Alliance 17/10/2014 | “As odd as it may sound, the sooner you start treating your investments like you treat life, the happier you’ll be with the outcome.”

You only dance twice

William H. Gross, Janus Capital Group 16/10/2014 | “Financial markets are artificially priced. In the bond market, there is nothing normal about a three year German Bund yielding “minus” 10 basis points.”

The Big Picture - Australia 200 Index

CMC Markets 8/10/2014 | Share market indices around the globe are breaking down. While analysts cast around for reasons, it’s clear that a time factor is in play. Simply put, many investors “feel” a correction is overdue. How low could it go?

Billionaires bankroll Ten's new direction Media Network sees digital future

The Age 19/12/2013 | Ten Network's programming ambitions will be funded by a $200 million loan guaranteed by three of its billionaire owners, as the free-to-air broadcaster declared digital was the future and pointed to early signs that its switch to an older market demographic was working.

Elders alleges $24m fraud in live cattle division

The Age 19/12/2013 | Troubled rural services group Elders is threatening to call in the police over an alleged $24 million fraud by a "handful of individuals" in its live cattle exports division.

Bega Cheese holds back in three-way bidding war for WCB

The Age 19/12/2013 | Bega Cheese began the battle for Warrnambool Cheese & Butter but three months on it appears to be the first casualty of the bidding war.

More...


Sponsored Links