Metgasco Ltd (AU:MEL)
ASX:MEL
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Metgasco Ltd
(Sydney:MEL)
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Rating:40Underperform
Price Target:
AU$0.02
▼(-43.33% Downside)
Action:DowngradedDate:03/13/26
The score is driven down primarily by weak financial performance, including ongoing losses, negative cash flows, and a high-risk balance sheet with negative equity. Technicals are mixed-to-weak (below the 50-day average and negative MACD), while valuation signals are limited due to a negative P/E and no dividend yield data.
Positive Factors
Concentrated on onshore Australian gas assets
A focused asset base in established onshore basins (Clarence-Moreton) is a durable competitive advantage: it lowers frontier exploration risk, concentrates permitting and operational expertise, and preserves optionality to commercialise gas into domestic and regional markets once approvals and demand align.
Negative Factors
Negative equity and weak solvency
Negative equity is a structural solvency concern: it implies liabilities exceed assets, creates negative debt-to-equity metrics, limits borrowing capacity, increases refinancing and covenant risk, and may force dilutive capital raises or asset disposals to restore balance-sheet health over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Concentrated on onshore Australian gas assets
A focused asset base in established onshore basins (Clarence-Moreton) is a durable competitive advantage: it lowers frontier exploration risk, concentrates permitting and operational expertise, and preserves optionality to commercialise gas into domestic and regional markets once approvals and demand align.
Read all positive factors
Metgasco Ltd (MEL) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$734.85K
Dividend YieldN/A
Average Volume (3M)N/A
Price to Earnings (P/E)―
Beta (1Y)1.06
Revenue Growth-9.10%
EPS Growth80.11%
CountryAU
Employees3,000
SectorEnergy
Sector Strength52
IndustryOil & Gas Exploration & Production
Share Statistics
EPS (TTM)-0.07
Shares Outstanding36,742,275
10 Day Avg. VolumeN/A
30 Day Avg. VolumeN/A
Financial Highlights & Ratios
PEG Ratio0.01
Price to Book (P/B)-1.14
Price to Sales (P/S)1.36
P/FCF Ratio-3.93
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
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
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Metgasco Ltd Financial Statement Overview
Summary
Income Statement
30
Negative
Balance Sheet
20
Very Negative
Cash Flow
25
Negative
| Breakdown | TTM | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 | Jun 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 1.14M | 2.16M | 2.37M | 475.84K | 0.00 | 0.00 |
| Gross Profit | -421.32K | -177.28K | 1.14M | -286.00K | -861.00 | -1.29K |
| EBITDA | -525.56K | -1.25M | -11.78M | -1.34M | -6.11M | -1.18M |
| Net Income | -5.12M | -3.27M | -13.20M | -1.53M | -6.11M | -1.18M |
Balance Sheet | ||||||
| Total Assets | 8.61M | 9.76M | 9.16M | 18.05M | 17.28M | 7.58M |
| Cash, Cash Equivalents and Short-Term Investments | 193.57K | 1.12M | 880.61K | 642.16K | 3.64M | 731.64K |
| Total Debt | 5.86M | 4.30M | 2.66M | 771.41K | 0.00 | 0.00 |
| Total Liabilities | 13.81M | 12.35M | 9.45M | 6.78M | 6.98M | 683.89K |
| Stockholders Equity | -5.20M | -2.58M | -291.79K | 11.27M | 10.30M | 6.89M |
Cash Flow | ||||||
| Free Cash Flow | -424.89K | -746.97K | -2.33M | -7.56M | -6.13M | -5.54M |
| Operating Cash Flow | -329.73K | -651.81K | -282.74K | -1.37M | 2.85M | -986.92K |
| Investing Cash Flow | -509.10K | -2.01M | -2.05M | -6.19M | -8.81M | -2.41M |
| Financing Cash Flow | 614.62K | 2.90M | 2.57M | 4.56M | 9.03M | 3.80M |
Metgasco Ltd Peers Comparison
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
70 Outperform | AU$65.49M | -6.85 | 11.28% | ― | 17.42% | -38.46% | |
65 Neutral | $15.17B | 7.61 | 4.09% | 5.20% | 3.87% | -62.32% | |
50 Neutral | AU$161.52M | -19.23 | -4.74% | ― | ― | 70.00% | |
48 Neutral | AU$24.06M | -1.40 | -76.69% | ― | ― | ― | |
48 Neutral | AU$345.54M | -7.29 | -46.22% | ― | 59.48% | -1714.71% | |
45 Neutral | AU$18.07M | -5.83 | -1.02% | ― | ― | 89.19% | |
40 Underperform | AU$734.85K | -0.09 | 193.09% | ― | -9.10% | 80.11% |
* Energy Sector Average
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Metgasco Ltd Corporate Events
Metgasco Releases Half-Year 2025 Consolidated Financial Report
Mar 16, 2026
Metgasco Ltd has released its consolidated financial report for the half year ended 31 December 2025, detailing its profit or loss, cash flows, financial position, and changes in equity. The report, supported by directors’ declarations and a...
Vintage Energy Extends Timetable for Southern Flank Gas Interest Acquisitions
Mar 1, 2026
Vintage Energy has revised the timetable for its planned acquisitions of 25% interests in the Southern Flank gas joint ventures currently held by Metgasco and Bridgeport. The company has extended the deadline to accept Bridgeport’s deemed sa...
Vintage Energy Secures Up to $5m SA Grants for Southern Flank Gas Wells
Feb 20, 2026
Vintage Energy has welcomed up to $5 million in South Australian government grants allocated to its Southern Flank gas projects, PRL 211 and ATP 2021, which it holds in joint ventures with Metgasco and Bridgeport. The funding, part of a broader $1...
Metgasco Sells Main Gas Assets as Output and Revenue Slide
Jan 30, 2026
Metgasco has agreed to sell its 25% non-operated interests in the Odin and Vali gas fields for $5.9 million, a disposal of its main undertaking that was approved by shareholders in January 2026 and is expected to complete in the March quarter, aft...
Metgasco Extends Vintage Gas Asset Sale Decision Deadline to Late February
Jan 30, 2026
Metgasco has extended by 28 days, to 28 February 2026, the target date for Vintage Energy to commit to acquiring Metgasco’s 25% non-operated interests in the Odin and Vali gas field joint ventures. Under the revised arrangement, Vintage will...
Vintage Extends Deadline on Metgasco Southern Flank Gas Deal
Jan 30, 2026
Vintage Energy has extended by 28 days, to 28 February 2026, the target date for committing to acquire Metgasco’s 25% interests in the Southern Flank gas joint ventures, while keeping the final completion deadline unchanged at 31 March 2026....
Metgasco Announces Resignation of Joint Company Secretary
Jan 15, 2026
Metgasco Ltd has announced the resignation of joint company secretary Flynn Blackburn, effective 15 January 2026, leaving Henko Vos as the remaining company secretary. Vos will assume sole responsibility for communications with the ASX on listing ...
Vintage Energy Clears Key Hurdle as Metgasco Shareholders Back Southern Flank Sale
Jan 14, 2026
Vintage Energy Ltd has confirmed that Metgasco shareholders have approved the sale of Metgasco’s 25% stakes in the Southern Flank joint ventures ATP 2021 and PRL 211 to Vintage, satisfying a key condition of their previously announced sale a...
Metgasco Secures Shareholder Approval to Sell Odin and Vali Gas Field Interests to Vintage Energy
Jan 14, 2026
Metgasco shareholders have approved the disposal of the company’s main undertaking at an extraordinary general meeting, passing a resolution to sell its 25% non-operated interests in the Odin and Vali gas field licences to Vintage Energy Ltd...
Metgasco Extends Repayment Date on GC1 Convertible Loan to June 2026
Dec 24, 2025
Metgasco Ltd has secured an extension to the repayment date of its convertible loan agreement with Glennon Small Companies Ltd (GC1), pushing the due date back six months from 31 December 2025 to 30 June 2026 on unchanged terms. The extension prov...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.