Metgasco Ltd (MEL) AI Stock Analysis

• Market Cap: AU$1.10M
• Dividend Yield: N/A
• Average Volume (3M): N/A
• Price to Earnings (P/E): ―
• Beta (1Y): 0.92
• Revenue Growth: -9.10%
• EPS Growth: 80.11%
• Country: AU
• Employees: 3,000
• Sector: Energy
• Sector Strength: 52
• Industry: Oil & Gas Exploration & Production
• EPS (TTM): -0.07
• Shares Outstanding: 36,742,275
• 10 Day Avg. Volume: N/A
• 30 Day Avg. Volume: N/A
• PEG Ratio: 0.55
• Price to Book (P/B): -56.81
• Price to Sales (P/S): 67.96
• P/FCF Ratio: -196.35
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 37 Underperform
• Price Target: ―

Metgasco Ltd's overall stock score is significantly impacted by its poor financial performance, characterized by ongoing losses, financial instability, and cash flow challenges. The absence of technical analysis and valuation data further limits the assessment, resulting in a low overall score. Strategic improvements and financial restructuring are essential for enhancing the company's prospects.

Positive Factors

Strategic Partnerships

Strategic partnerships can enhance revenue potential by sharing exploration and development costs, leading to improved financial stability and growth opportunities.

Revenue Streams

Diverse revenue streams from oil and gas sales provide a foundation for potential growth, leveraging market demand for energy resources.

Industry Demand

Operating in a sector with growing energy demand, Metgasco is positioned to benefit from long-term industry trends favoring resource exploration and development.

Negative Factors

Financial Instability

Negative equity and high leverage indicate financial instability, posing risks to long-term solvency and limiting the company's ability to invest in growth.

Cash Flow Challenges

Cash flow challenges hinder operational efficiency and limit the company's capacity to fund new projects or manage debt, impacting long-term sustainability.

Operational Inefficiencies

Ongoing operational inefficiencies and losses highlight the need for strategic improvements to achieve profitability and enhance competitive positioning.

Metgasco Ltd Business Overview & Revenue Model

Company Description

Metgasco Limited engages in the exploration and development of oil and gas properties in Australia. It also invests in and develops related energy infrastructure. The company was incorporated in 1999 and is headquartered in West Perth, Australia.

How the Company Makes Money

Metgasco generates revenue primarily through the sale of natural gas to domestic markets, including commercial and industrial customers. The company's revenue model is centered around the extraction and production of natural gas, which is then sold under various contracts and agreements. Key revenue streams include long-term gas supply contracts with utility companies and industrial clients, as well as spot market sales. Additionally, Metgasco may benefit from strategic partnerships with other energy firms and stakeholders that enhance its market reach and operational efficiency, contributing to its overall earnings. Factors such as gas pricing fluctuations, regulatory changes, and market demand for cleaner energy solutions also play a significant role in shaping the company's financial performance.

Metgasco Ltd Financial Statement Overview

Summary

Metgasco Ltd faces significant financial challenges across all verticals. The income statement reflects ongoing losses and operational inefficiencies, while the balance sheet shows financial instability with negative equity and high leverage. Cash flow issues further compound these problems, highlighting the need for strategic restructuring and improved financial management to ensure long-term viability.

Income Statement

Metgasco Ltd has experienced significant challenges in its income statement metrics. The company reported negative gross profit and net profit margins, indicating a lack of profitability. Revenue growth has been volatile, with a notable increase in the most recent year, but this is overshadowed by substantial losses at the EBIT and EBITDA levels. These factors highlight ongoing operational difficulties and a need for strategic improvements.

Balance Sheet

The balance sheet reveals a concerning financial structure, with negative stockholders' equity and a high debt-to-equity ratio, indicating financial instability. The return on equity is positive due to negative equity, which is misleading as it reflects significant losses. The equity ratio is also negative, further emphasizing the company's weak financial position and potential solvency risks.

Cash Flow

Cash flow analysis shows negative operating and free cash flows, with a declining free cash flow growth rate. The operating cash flow to net income ratio is negative, indicating cash flow challenges. Although the free cash flow to net income ratio is positive, it results from significant net losses rather than operational efficiency. Overall, cash flow management appears to be a critical area needing attention.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	2.16M	2.16M	2.37M	475.84K	0.00	0.00
Gross Profit	-12.31K	-177.28K	1.14M	-286.00K	-861.00	-1.29K
EBITDA	-103.44K	-1.25M	-11.78M	-1.34M	-6.11M	-1.18M
Net Income	-3.27M	-3.27M	-13.20M	-1.53M	-6.11M	-1.18M
Balance Sheet
Total Assets	9.76M	9.76M	9.16M	18.05M	17.28M	7.58M
Cash, Cash Equivalents and Short-Term Investments	1.12M	1.12M	880.61K	642.16K	3.64M	731.64K
Total Debt	4.30M	4.30M	2.66M	771.41K	0.00	0.00
Total Liabilities	12.35M	12.35M	9.45M	6.78M	6.98M	683.89K
Stockholders Equity	-2.58M	-2.58M	-291.79K	11.27M	10.30M	6.89M
Cash Flow
Free Cash Flow	-2.79M	-746.97K	-2.33M	-7.56M	-6.13M	-5.54M
Operating Cash Flow	-651.81K	-651.81K	-282.74K	-1.37M	2.85M	-986.92K
Investing Cash Flow	-2.01M	-2.01M	-2.05M	-6.19M	-8.81M	-2.41M
Financing Cash Flow	2.90M	2.90M	2.57M	4.56M	9.03M	3.80M

Metgasco Ltd Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	65 Neutral	$15.17B	7.61	4.09%	5.20%	3.87%	-62.32%
SHE	53 Neutral	AU$4.79M	―	-9.49%	―	-16.79%	-205.26%
IPB	40 Underperform	AU$5.97M	-25.00	-7.32%	―	―	90.70%
MEL	37 Underperform	AU$1.10M	-0.26	―	―	-9.10%	80.11%
BUY	36 Underperform	AU$4.68M	―	-30.63%	―	-32.65%	-66.67%
WBE	23 Underperform	AU$5.97M	-1.04	―	―	―	―
GLL	22 Underperform	AU$5.84M	-1.72	-1481.88%	―	―	36.96%

Metgasco Ltd Corporate Events

Metgasco Ltd Secures Strong Shareholder Support at AGM

Metgasco Ltd, an energy company listed on the Australian Securities Exchange, held its Annual General Meeting on November 26, 2025, where several resolutions were passed. Key resolutions included the adoption of the remuneration report, election and re-election of directors, approval of a 10% placement facility, consolidation of capital, and ratification of prior issue of placement shares. All resolutions were carried with significant majority votes, indicating strong shareholder support for the company’s strategic decisions.

Metgasco Ltd Expands Production in Cooper Eromanga Basin

Metgasco Ltd has announced the production status of its key projects in the Cooper Eromanga Basin. The Odin Field, which began production in September 2023, has been further expanded with Odin-2 coming online in October 2024. Additionally, the Vali Field has been producing via Vali-1 since February 2023. These developments are significant for Metgasco’s operational growth and position in the energy market, potentially enhancing its production capacity and market presence.

Vintage Energy to Acquire Metgasco’s Stakes in Southern Flank Joint Ventures

Vintage Energy Limited, an operator in the gas industry, has announced a significant move to reform its Southern Flank joint ventures by acquiring Metgasco’s 25% stakes in ATP 2021 and PRL 211. This strategic acquisition aims to accelerate value creation from the Vali and Odin gas fields, which hold substantial uncontracted gas reserves. Vintage is also considering acquiring Bridgeport’s 25% stakes in the same joint ventures, with plans to introduce new joint venture partners or raise equity capital to fund these transactions. The initiative is expected to enhance Vintage’s market position and operational focus on production and economic returns.

Metgasco Ltd Announces Sale of Gas Field Interests

Metgasco Ltd has entered into a conditional agreement to sell its 25% interest in the Odin and Vali Gas Fields to Vintage Energy Ltd. The transaction, valued at $5.9 million, is contingent upon Vintage securing necessary funding and completing a purchase of Bridgeport’s interest in the fields. This sale marks a significant shift in Metgasco’s operations, potentially impacting its market focus and stakeholder engagements. The completion of the transaction is subject to various approvals and conditions, including shareholder and ministerial consents.

Metgasco Ltd Requests Trading Halt Amid Potential Asset Disposal

Metgasco Ltd has requested a trading halt on its securities as it prepares to make an announcement regarding a potential asset disposal transaction. The halt will remain in effect until either the announcement is made or normal trading resumes on November 18, 2025. This move indicates a significant operational decision that could impact Metgasco’s market position and stakeholder interests.

Metgasco Ltd Reports Revenue Decline Amid Production Uplift Efforts

Metgasco Ltd reported a decrease in sales revenue and production for the quarter ending September 2025, primarily due to interruptions from the Production Uplift Program (PUP) and the absence of liquids liftings. The PUP, aimed at enhancing gas production in the Odin and Vali fields, showed modest improvements, with further results anticipated in the December quarter. The company is also exploring oil prospectivity in ATP2021, with ongoing farm-out discussions. Despite the current challenges, Metgasco is focused on improving production rates and exploring new prospects to enhance its market positioning.

Metgasco Ltd Announces Security Consolidation

Metgasco Ltd has announced a security consolidation involving its ordinary shares and several options with varying expiration dates. This reorganization is set to commence trading on a deferred settlement basis from November 28, 2025, with a record date of December 1, 2025, and an issue date of December 8, 2025. The consolidation aims to streamline the company’s securities, potentially impacting its market position and shareholder value.

Metgasco Ltd Announces 2025 AGM with a Push for Digital Communication

Metgasco Ltd has announced its Annual General Meeting (AGM) scheduled for November 26, 2025, at their Perth office. The company is encouraging shareholders to opt for electronic communication to reduce administrative costs, with meeting materials available online. This move towards digital communication reflects a broader industry trend of cost efficiency and environmental responsibility, potentially enhancing shareholder engagement and operational efficiency.

Metgasco Reports Interim Results of Production Uplift Project Phase 2

Metgasco Ltd has announced interim results from the second phase of its Production Uplift Project in the Vali gas field, reporting a total raw gas production of 2.4 MMscfd. The company is encouraged by the initial results from the Toolachee Formation in Vali-2, despite challenges in Vali-1, and anticipates further operations at Vali-3 in November. The ongoing project aims to enhance production rates and assess the potential of the Toolachee Formation, with implications for increased output and operational efficiency.

Vintage Energy Reports Interim Results of Production Uplift Program

Vintage Energy Ltd, in collaboration with Metgasco Ltd and Bridgeport (Cooper Basin) Pty Ltd, is progressing with the second phase of its Production Uplift Program in the Southern Flank gas fields, focusing on the Toolachee Formation in the Vali gas field. The interim results indicate some gas flow from the Toolachee Formation, though stable production has not yet been established. The Vali-2 well shows promising signs of increased gas flow once residual liquids are cleared, while Vali-3 is preparing for further dewatering operations. Production from the Southern Flank fields continues at a rate of 2.4 MMscf/d, with Odin contributing significantly.

Metgasco Expands Gas Production to Meet Eastern Australia’s Demand

Metgasco Ltd announced the production activities from two gas fields, Odin and Vali, which are now supplying the undersupplied Eastern Australian market. The Odin Field has been producing since September 2023, with Odin-2 expected to come online in October 2024, while the Vali Field has been operational since February 2023. This development is significant for Metgasco as it strengthens its position in the energy sector by addressing the regional gas supply shortage, potentially enhancing its market share and stakeholder value.