Stock data
| Market cap. | £53.8m |
| Last close | 21.00p |
| High / Low (52 weeks) | 74.0p / 19.5p |
| Stock market listing | AIM |
| Forecast net cash (US$m) | 28 |
| Forecast gearing ratio (%) | N/A |
| Team | Resources - Oil & Gas |
| Sector | Oil & Gas |
Price performance
| % | 1m | 3m | 12m |
|---|---|---|---|
| Actual | (24.32) | (26.32) | (71.62) |
| Relative * | (20.61) | (20.26) | (68.81) |
* % Relative to local index
Other companies covered in sector
| Y/E Dec | Revenue (US$m) | EBITDA (US$m) | PBT (US$m) | EPS (c) | P/E (x) | P/CF (x) |
|---|---|---|---|---|---|---|
| 2010A | 0.0 | (10.7) | (11.3) | (8.2) | N/A | N/A |
| 2011A | 0.0 | (13.1) | (13.1) | (6.7) | N/A | N/A |
| 2012E | 0.0 | (12.9) | (11.7) | (4.6) | N/A | N/A |
| 2013E | 0.0 | (13.2) | (12.4) | (4.8) | N/A | N/A |
Last updated on 19/04/2012
Latest research
Valuation disconnect
Update | Oil & Gas | 24/10/2011
One for the oil price bulls
Outlook | Oil & Gas | 01/09/2011
Investment summary
Madagascar Oil recently announced it has successfully resolved the outstanding issues with Madagascar authorities surrounding its three exploration blocks. From an asset perspective this re-establishes the company as it was when it came to AIM in late 2010 at a placing price of 95p. However, since coming to market MOIL has also increased Tsimiroro contingent resource estimates 75% to approximately 1.1bn barrels recoverable, while cyclic steam injection at the Tsimiroro demonstration plant is due to start in Q312 with continuous steam injection to follow by the end of 2012. Based on Tsimiroro contingent resources only we currently carry a core NAV of 201p, offering substantial upside in the event that steam pilot success leads to interest from industry partners.
Last updated on 23/04/2012
Industry outlook
Used extensively for 40 years in California, the use of steam flooding continues to grow outside of the US. The Duri field in Indonesia is the world's largest flood project while a large new development is underway in Kuwait.
Last updated on 23/04/2012
Key management
| Seth Fagelman, CFO |
Company address
| 2180 North Loop West Houston 77018 United States (713) 357-4820 View website |
