NuEnergy Gas Limited (NGY) AI Stock Analysis

• Market Cap: AU$72.92M
• Dividend Yield: N/A
• Average Volume (3M): 116.48K
• Price to Earnings (P/E): ―
• Beta (1Y): -0.50
• Revenue Growth: N/A
• EPS Growth: -20.00%
• Country: AU
• Employees: 2
• Sector: Energy
• Sector Strength: 52
• Industry: Oil & Gas Exploration & Production
• EPS (TTM): N/A
• Shares Outstanding: 1,918,998,900
• 10 Day Avg. Volume: 276,056
• 30 Day Avg. Volume: 116,477
• PEG Ratio: 0.00
• Price to Book (P/B): 1.20
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -12.47K
• 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): AU$3.10M

• Rating: 46 Neutral
• Price Target: AU$0.03 ▲(6.67% Upside)
• Action: Reiterated Date: 02/26/26
• Date: Action: Reiterated 02/26/26

The score is mainly held down by weak financial performance (no revenue, ongoing losses, and negative operating/free cash flow). Technicals provide some support via an uptrend versus longer-term moving averages, but overbought momentum signals add near-term risk. Valuation remains pressured because the company is loss-making (negative P/E) and no dividend yield is available.

Positive Factors

Contained leverage / conservative balance sheet

Low debt-to-equity in the mid-teens reduces refinancing and interest-rate pressure, giving the company durable financial flexibility. This conservatism helps sustain operations during extended loss periods and preserves optionality for funding exploration or investment without excessive leverage risk.

Improving cash flow trend

A material narrowing of free cash flow losses indicates progress toward cash-burn reduction and operational stabilisation. If sustained, this trend reduces dependence on external capital, lengthens runway and improves the odds of reaching self-sustaining operations over the medium term.

Growing equity base provides flexibility

An expanding equity base relative to debt improves balance-sheet resilience and funding optionality. For a loss-making explorer, stronger equity cushions losses, supports further investment in projects, and reduces the need for short-term debt, aiding strategic execution over multiple quarters.

Negative Factors

No revenue across reported periods

Absence of revenue eliminates operating leverage and revenue visibility, making it difficult to validate the business model or forecast profitability. Over months, this forces reliance on financing, increases execution risk on projects, and weakens the case for sustained investment without clear commercialization.

Persistent negative operating and free cash flow

Chronic negative operating and free cash flow signal a cash-burning business that requires ongoing external funding. This structural cash deficit increases dilution risk, constrains capital allocation, and exposes the company to funding gaps if access to capital tightens, challenging medium-term viability.

Negative returns on equity

Repeated negative ROE implies the company’s asset base is under-earning and capital allocation has not created shareholder value. Persistently poor returns weaken investor support and limit internal capital generation, making it harder to finance growth or pivot to profitable operations over several quarters.

NuEnergy Gas Limited Business Overview & Revenue Model

Company Description

NuEnergy Gas Limited, an independent clean energy company, focuses on the acquisition, exploration, and development of coal bed methane gas projects in Indonesia. It operates six unconventional gas production sharing contracts covering an area of 3,695 square kilometers across South Sumatra, Central Sumatra, and East Kalimantan. The company was incorporated in 1985 and is based in Sydney, Australia. NuEnergy Gas Limited is a subsidiary of Globaltec Formation Berhad.

How the Company Makes Money

NuEnergy Gas Limited generates revenue through the exploration and development of coal bed methane (CBM) gas resources in Indonesia. The company makes money by advancing its CBM projects through various phases of exploration, appraisal, and development, eventually leading to the production and sale of gas. Revenue is primarily derived from the sale of produced gas to local and regional markets. Additionally, partnerships and joint ventures with local and international companies can provide financial backing and technical expertise, enhancing project viability and profitability.

NuEnergy Gas Limited Financial Statement Overview

Summary

Overall fundamentals are weak: no revenue reported, persistent operating/net losses, and consistently negative operating and free cash flow, implying a cash-burning model. The main offset is a comparatively conservative balance sheet with low debt-to-equity, which provides some financial flexibility but does not resolve the lack of profitability and cash generation.

Income Statement

The company reports no revenue across the entire period provided, which materially limits operating leverage and visibility on business momentum. Profitability is consistently negative in recent years (net losses in 2022–2025 and operating losses throughout), indicating an ongoing cash-burning operating model. A notable positive outlier appears in 2021 with positive net income, but it was not sustained and results reverted to losses afterward, reducing confidence in earnings quality and repeatability.

Balance Sheet

Leverage appears contained with debt-to-equity consistently in the mid‑teens (~0.14–0.19), suggesting the balance sheet is not heavily debt-funded. Equity is sizable relative to debt and has generally increased versus 2020 levels, providing some financial flexibility. However, returns on equity are negative in most years (2020 and 2022–2025), implying capital is not currently being converted into durable profitability and the asset base may be under-earning.

Cash Flow

Operating cash flow is negative in every year shown, signaling that core activities are not self-funding. Free cash flow is also consistently negative, implying ongoing funding needs to sustain operations and investment. There is a sharp improvement in 2025 versus 2024 (free cash flow loss narrowing materially), but cash generation remains below break-even and therefore still a key risk.

Breakdown	Jun 2025	Jun 2024	Jun 2023	Jun 2022	Jun 2021
Income Statement
Total Revenue	0.00	0.00	0.00	0.00	0.00
Gross Profit	0.00	0.00	0.00	0.00	-27.68K
EBITDA	0.00	-480.00K	-642.00K	-1.23M	6.98M
Net Income	-941.12K	-807.00K	-1.04M	-1.91M	6.66M
Balance Sheet
Total Assets	48.84M	42.43M	43.51M	42.69M	40.53M
Cash, Cash Equivalents and Short-Term Investments	2.43M	145.79K	2.04M	4.13M	6.18M
Total Debt	5.28M	4.86M	4.56M	4.15M	3.56M
Total Liabilities	16.90M	16.15M	16.15M	15.52M	14.24M
Stockholders Equity	31.52M	25.86M	26.94M	26.75M	26.16M
Cash Flow
Free Cash Flow	-3.03K	-1.66M	-2.07M	-1.47M	-1.86M
Operating Cash Flow	-603.00	-234.87K	-700.26K	-276.27K	-700.99K
Investing Cash Flow	-3.05K	-1.06M	-1.37M	2.04M	1.56M
Financing Cash Flow	5.94K	0.00	2.06M	-1.76M	578.23K

NuEnergy Gas Limited Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 0.03
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:NGY, the sentiment is Positive. The current price of 0.03 is below the 20-day moving average (MA) of 0.04, below the 50-day MA of 0.04, and below the 200-day MA of 0.03, indicating a neutral trend. The MACD of >-0.01 indicates Positive momentum. The RSI at 49.89 is Neutral, neither overbought nor oversold. The STOCH value of 61.21 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for AU:NGY.

NuEnergy Gas Limited Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
PVE	74 Outperform	AU$75.33M	4.25	19.97%	―	58.52%	74.07%
CTP	70 Outperform	AU$67.75M	1.71	21.06%	―	17.42%	-38.46%
Sector *	65 Neutral	$15.17B	7.61	4.09%	5.20%	3.87%	-62.32%
BRK	64 Neutral	AU$49.15M	1.95	4.88%	―	53.56%	-67.96%
NGY	46 Neutral	AU$72.92M	-40.15	-2.89%	―	―	-20.00%
HYT	44 Neutral	AU$26.68M	-6.11	-9.86%	―	―	―
JGH	40 Underperform	AU$42.30M	-9.62	-34.32%	―	―	―

NuEnergy Gas Limited Corporate Events

NuEnergy Advances Tanjung Enim CBM Project with Well Completions, Funding and New Development Partner

NuEnergy Gas Limited has completed all four planned wells under its 1 MMSCFD Early Gas Sales Initiative at the Tanjung Enim PSC in South Sumatra, marking the first phase of a broader 25 MMSCFD development program. Dewatering and gas flaring operations have commenced, confirming coal bed methane across multiple seams and progressing towards first gas sales expected in the first half of FY26 under a binding gas sales and purchase agreement with PT Perusahaan Gas Negara, a leading Indonesian gas distributor. The company also signed a collaboration agreement with PT Beijing Energy Linking, under which the partner will finance 100% of the full-scale 25 MMSCFD POD 1 field development at a capped contract price to be repaid from future gas sales, and completed a partially underwritten entitlement offer raising approximately $3.5 million to support the Tanjung Enim initiative and other PSCs, underscoring a significant step in commercialising its CBM portfolio and strengthening its position in Indonesia’s domestic gas supply chain.

The most recent analyst rating on (AU:NGY) stock is a Hold with a A$0.04 price target. To see the full list of analyst forecasts on NuEnergy Gas Limited stock, see the AU:NGY Stock Forecast page.

NuEnergy Secures Fully Funded 25 MMSCFD CBM Development at Tanjung Enim

NuEnergy Gas Limited has signed a collaboration agreement with PT Beijing Energy Linking (PT BJEL), under which PT BJEL will be appointed lead EPCC contractor and will finance 100% of the field development for NuEnergy’s Tanjung Enim and Muralim CBM projects in South Sumatra, subject to final EPCC contracts. The arrangement, focused initially on Tanjung Enim Plan of Development 1, will see development costs repaid from future gas sales and covers drilling, surface facilities, pipelines and commissioning to ramp production from around 1 MMSCFD to a targeted 25 MMSCFD, effectively fully funding NuEnergy’s transition to full-scale gas output and accelerating project execution with the backing of major clean-energy players Beijing Energy International and Envision Group.

The most recent analyst rating on (AU:NGY) stock is a Hold with a A$0.03 price target. To see the full list of analyst forecasts on NuEnergy Gas Limited stock, see the AU:NGY Stock Forecast page.

NuEnergy Gas Secures Major Gas Sales Agreement with PGN

NuEnergy Gas Limited has signed a binding Gas Sales and Purchase Agreement with PT Perusahaan Gas Negara Tbk for the sale of coal bed methane from its Tanjung Enim Plan of Development. This agreement, expected to commence gas sales in the first half of 2026, aligns with Indonesia’s energy transition goals by contributing to the domestic gas supply chain and reducing import reliance. The project, strategically located near key economic regions, marks Indonesia’s first commercial-scale CBM development and is set to enhance energy resilience and economic growth.