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Oilex Ltd
(LSE:SYN)
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Rating:45Neutral
Price Target:
0.01 p
▲(0.00% Upside)
Action:Reiterated
Date:08/04/26
The score is held down primarily by weak financial performance (sharp revenue decline, negative gross margin, and ongoing operating/free cash flow losses), only partly offset by a low-debt balance sheet. Corporate events are mixed—Cambay operational progress and governance continuity are positives, but relinquishing the Camelot CCS licence is a meaningful setback. Valuation is hard to rely on due to a negative P/E and missing dividend yield, while limited technical data reduces conviction from price-based signals.
Positive Factors
Low leverage / strong balance sheet
The company reported zero total debt and ~£9.1m equity in 2025, which materially reduces near-term insolvency risk and interest burden. This capital structure gives management flexibility to pursue farm-outs, asset sales or selective drilling without immediate refinancing pressure, supporting execution over the next several quarters.
Negative Factors
Sharp revenue decline and weak unit economics
Revenue contracted sharply (~60% year-over-year) while gross profit stayed deeply negative, signaling weak underlying unit economics. Persistent negative gross margins imply operations are not yet profitable at the asset level, making sustainable earnings recovery dependent on project improvement or non-recurring gains.
Read all positive and negative factors
Positive Factors
Negative Factors
Low leverage / strong balance sheet
The company reported zero total debt and ~£9.1m equity in 2025, which materially reduces near-term insolvency risk and interest burden. This capital structure gives management flexibility to pursue farm-outs, asset sales or selective drilling without immediate refinancing pressure, supporting execution over the next several quarters.
Read all positive factors
Oilex Ltd (SYN) vs. iShares MSCI United Kingdom ETF (EWC)
Market Cap
£1.40M
Dividend YieldN/A
Average Volume (3M)37.62M
Price to Earnings (P/E)―
Beta (1Y)-0.15
Revenue Growth-46.02%
EPS Growth-150.00%
CountryUK
Employees29
SectorEnergy
Sector Strength52
IndustryOil & Gas Exploration & Production
Share Statistics
EPS (TTM)>-0.01
Shares Outstanding15,571,742,000
10 Day Avg. Volume27,522,438
30 Day Avg. Volume37,623,877
Financial Highlights & Ratios
PEG Ratio>-0.01
Price to Book (P/B)0.56
Price to Sales (P/S)34.68
P/FCF Ratio-0.82
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)<0.01
Revenue Forecast (FY)£148.05M
Oilex Ltd Business Overview & Revenue Model
Company Description
Synergia Energy Ltd is an energy company involved in the full spectrum of oil and gas operations, from exploration and appraisal to development, production, and marketing across its operating regions in Australia, India, and Indonesia. A significa...
How the Company Makes Money
Oilex’s revenue model is tied to monetising petroleum assets and related rights. In general, an exploration and development company like Oilex can generate income through: (1) sales of crude oil and/or natural gas from producing fields (where it h...
Oilex Ltd Financial Statement Overview
Summary
Income Statement
28
Negative
Balance Sheet
72
Positive
Cash Flow
24
Negative
| Breakdown | TTM | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 | Jun 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 181.30K | 146.27K | 638.46K | 1.30M | 141.44K | 0.00 |
| Gross Profit | -636.18K | -389.68K | -410.54K | -1.27M | -1.05M | -140.26K |
| EBITDA | -4.18M | -3.49M | -1.36M | -5.01M | -1.88M | -1.46M |
| Net Income | -3.37M | 4.99M | -2.80M | -5.38M | -2.06M | -614.35K |
Balance Sheet | ||||||
| Total Assets | 22.80M | 11.43M | 19.87M | 18.98M | 25.78M | 15.14M |
| Cash, Cash Equivalents and Short-Term Investments | 621.53K | 581.03K | 1.07M | 938.59K | 4.91M | 4.75M |
| Total Debt | 0.00 | 0.00 | 1.74M | 774.67K | 451.36K | -215.27K |
| Total Liabilities | 4.84M | 2.36M | 9.91M | 8.64M | 11.19M | 6.16M |
| Stockholders Equity | 17.96M | 9.06M | 9.96M | 10.34M | 14.58M | 8.98M |
Cash Flow | ||||||
| Free Cash Flow | -819.06K | -6.16M | -3.36M | -5.38M | -4.84M | -1.53M |
| Operating Cash Flow | -686.08K | -3.91M | -2.75M | -5.37M | -4.80M | -1.39M |
| Investing Cash Flow | -498.32K | 1.23M | -608.95K | -3.23K | -2.58M | 501.20K |
| Financing Cash Flow | 693.58K | 826.09K | 3.47M | 1.54M | 7.80M | 4.77M |
Oilex Ltd Peers Comparison
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
65 Neutral | $15.17B | 7.61 | 4.09% | 5.20% | 3.87% | -62.32% | |
45 Neutral | £1.40M | -0.86 | -24.91% | ― | -46.02% | -150.00% | |
44 Neutral | £3.74M | -1.50 | 102.72% | ― | ― | ― | |
42 Neutral | £1.77M | -4.14 | 67.97% | ― | ― | 4.55% | |
40 Underperform | £2.34M | 0.85 | 142.82% | ― | -27.70% | 71.43% |
* Energy Sector Average
GB:SYN
Oilex Ltd
0.01
-0.01
-50.00%
GB:ADME
ADM Energy plc
0.01
-0.04
-78.18%
GB:BUCE
Nostra Terra Oil and Gas
0.01
>-0.01
-45.00%
GB:BCE
Advance Energy
2.95
-0.95
-24.34%
GB:PET
Petrel Resources
0.85
0.00
0.00%
Oilex Ltd Corporate Events
Business Operations and StrategyExecutive/Board ChangesRegulatory Filings and Compliance
Synergia Energy Promotes Long-Serving Executive to Company Secretary
Positive
Jul 24, 2026
Synergia Energy Ltd has appointed long-serving executive Stacey Britza as its new Company Secretary, effective immediately. Britza, who became a non-executive director in May 2026 and has spent 18 years in roles supporting governance and complianc...
Business Operations and StrategyPrivate Placements and Financing
Synergia Energy Grants Over 2.1 Billion Share Options Linked to Loan Deal
Neutral
Jun 29, 2026
Synergia Energy Ltd has issued 2,169,649,244 share options to Republic Investment Management Pte Ltd, in connection with a previously announced loan agreement. The options are exercisable at 0.0119 pence per share, representing a 10% premium to th...
Business Operations and Strategy
Synergia Energy to Relinquish Camelot CCS Licence and Refocus on Indian Cambay Field
Negative
Jun 16, 2026
Synergia Energy has decided to relinquish its 50% interest in the CS019 Camelot carbon storage licence in the UK Southern North Sea, after legacy well integrity concerns and uncertainty over securing a storage permit for the Leman Sandstone reserv...
Business Operations and Strategy
Synergia Advances Cambay Workovers and Plans New Eocene Well
Positive
May 27, 2026
Synergia Energy reported progress on its Cambay PSC workover campaign in India, completing interventions on four legacy wells with mixed but generally modest initial oil production rates. The company also noted ongoing production from existing wel...
Executive/Board Changes
Synergia Energy Elevates Long-Serving Executive Assistant to Non-Executive Director
Positive
May 12, 2026
Synergia Energy Ltd has appointed long-time employee Stacey Britza as a Non-Executive Director with immediate effect, elevating her from her previous roles as Executive Assistant and Assistant Company Secretary. Her 18 years of involvement with th...
Business Operations and StrategyExecutive/Board Changes
Synergia Energy Updates Cambay Output and Reshapes Board
Positive
May 5, 2026
Synergia Energy reported that April 2026 oil production from its Cambay PSC in India averaged 148 barrels per day, mainly from two recently worked-over wells, while gas output reached 39 thousand cubic feet per day from the C-77H well. The company...
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.