Molopo Energy Limited (MPO)



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General Information
Company Name: Molopo Energy Limited
Stock Code: MPO
Website: www.molopo.com.au
GICS Sub-Industry: Oil & Gas Exploration & Production
Market Cap ($M): 42
Equiv. Shares (M): 249

Current Price Data+
Current Price Open High Low Last Close Volume Price Movement
 $ 0.170 $ 0.165 $ 0.170 $ 0.165 $ 0.160 50,000 $ 0.010  6.250 %

Company Overview

Business Description:
Molopo Energy Limited (MPO) is an oil and gas exploration and production company. MPO has exploration projects located in Canada and USA. MPO is currently focused on the development of the Wolfcamp shale resource play in the Permian Basin, Texas, USA.

Strategy Analysis:
MPO's coal bed methane growth strategy has been to build a diversified portfolio of petroleum assets at the appraisal or advanced exploration stage. This is intended to create a core group of assets that can generate long term cash flow and shareholder value. . Molopo Energy reported positive cash flow of US$16.73m for quarter ended 31 December 2012. Operating cash flow for the period was US$(24.75m). Payments for exploration and evaluation were US$(163,000). Investing cash flow was US$41.48m. Financing cash flow was nil. Cash in hand at the end of the quarter was US$70.98m.


Financial Summary
Year to Dec NPAT EPS EPS chg (%) PER DPS Yield (%) Franking (%)
2013  A -45.6 -18.5 -- 0.0 0.0 0.0 --
2012  A -61.2 -24.9 -- 0.0 0.0 0.0 --
2011  A -52.0 -20.3 -- 0.0 0.0 0.0 --
Source: Aspect actuals / Thomson IBES estimates

Peer Comparison
EPS Growth (%) P/E (%) Dividend Yield (%)
Company Mkt Cap 2011 A 2012 F 2013 F 2011 A 2012 F 2013 F 2011 A 2012 F 2013 F
Beach Energy (BPT) $1,654 M 0.8455 -0.2923 -0.0648 6.4264 9.0812 9.7106 3.14 3.14 6.80
Molopo Energy (MPO) $40 M -- -- -- -- -- -- 0.00 -- --
Oil Search (OSH) $13,171 M 0.5489 1.5170 0.4050 50.5848 20.0976 14.3046 0.52 0.95 3.01
Santos (STO) $12,504 M 0.1518 0.3665 0.4176 24.5421 17.9599 12.6692 2.36 3.14 4.59
Woodside Petroleum (WPL) $32,932 M -0.0512 0.3932 0.0143 17.2940 12.4130 12.2375 6.96 6.40 6.55

Market Comparison
Earnings P/E Ratio P/B Ratio P/E Growth P/S Ratio
MPO -- -- 0.65 -- 9.83
Market 0.88 15.0 1.23 1.69 1.48
Sector 1.12 12.1 0.83 0.67 4.44

Directors
Name Position Start Date
Mr Glenn Ross Alternate Director 15 February 2011
Mr Christopher Bruce Ryan Non-Executive Director 08 April 2014
Mr Don Engle Non-Executive Director 20 January 2012
Mr Gregory Harold Smith Non-Executive Director 16 June 2014
Mr Jeffrey E Schwarz Non-Executive Director,Non-Executive Chairman 15 March 2013

Management
Name Position
Jessica Huberman Company Secretary
Andrew William Metcalfe Joint Company Secretary

Substantial Shareholders
Holding Name
22,520,085 (9.11%) Scoggin LLC
33,763,838 (13.66%) Bentley Capital Ltd
21,313,208 (8.62%) Gibralt Capital Corporation

Calendar of Events
Date Event
30 July 2015 Report (Quarterly)
29 April 2015 Report (Quarterly)
27 March 2015 Report (Annual)
28 January 2015 Report (Quarterly)
30 October 2014 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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