Metgasco Ltd (AU:MEL)
ASX:MEL
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Metgasco Ltd
(Sydney:MEL)
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Rating:40Underperform
Price Target:
AU$0.01
▼(-56.67% Downside)
Action:Reiterated
Date:05/22/26
The score is primarily constrained by weak financial performance, including negative equity, persistent losses, and negative operating/free cash flow signals. Technical indicators add additional pressure with a bearish trend (below key moving averages and negative MACD). Valuation provides limited support due to a negative P/E and no dividend yield data.
Positive Factors
Onshore Australian asset base
Metgasco's core holdings in the Clarence-Moreton and other onshore Australian basins represent durable, location-specific resources. Onshore acreage reduces offshore execution complexity and can shorten timelines to appraisal/commercialisation, preserving long-term asset optionality if approvals and markets allow.
Negative Factors
Negative equity position
Negative shareholders' equity is a severe structural weakness: it constrains access to traditional debt and equity markets, elevates refinancing and covenant risk, and increases likelihood of dilution or forced asset disposals. This reduces financial flexibility over the medium term and magnifies downside in stress scenarios.
Read all positive and negative factors
Positive Factors
Negative Factors
Onshore Australian asset base
Metgasco's core holdings in the Clarence-Moreton and other onshore Australian basins represent durable, location-specific resources. Onshore acreage reduces offshore execution complexity and can shorten timelines to appraisal/commercialisation, preserving long-term asset optionality if approvals and markets allow.
Read all positive factors
Metgasco Ltd (MEL) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$514.39K
Dividend YieldN/A
Average Volume (3M)N/A
Price to Earnings (P/E)―
Beta (1Y)0.48
Revenue Growth-47.01%
EPS Growth77.51%
CountryAU
Employees3,000
SectorEnergy
Sector Strength52
IndustryOil & Gas Exploration & Production
Share Statistics
EPS (TTM)-0.14
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 is an Australian firm dedicated to the discovery and cultivation of oil and natural gas deposits. Furthermore, it allocates capital to and constructs energy infrastructure relevant to its operations. The company was founded in 199...
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 |
|---|---|---|---|---|---|---|---|
65 Neutral | $15.17B | 7.61 | 4.09% | 5.20% | 3.87% | -62.32% | |
58 Neutral | AU$50.44M | 11.17 | 11.28% | ― | 29.92% | 6000.00% | |
51 Neutral | AU$413.93M | -2.54 | -46.22% | ― | -0.51% | -756.45% | |
47 Neutral | AU$155.54M | -46.00 | -4.27% | ― | ― | -16.67% | |
45 Neutral | AU$15.06M | -7.56 | -1.81% | ― | ― | 12.50% | |
42 Neutral | AU$17.60M | -1.95 | -35.17% | ― | ― | 64.71% | |
40 Underperform | AU$514.39K | -0.10 | 131.52% | ― | -47.01% | 77.51% |
* Energy Sector Average
AU:MEL
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Metgasco Ltd Corporate Events
Metgasco shifts focus to recapitalisation as Odin-Vali asset sale collapses
Apr 30, 2026
Metgasco reported that its planned $5.9 million divestment of its 25% non-operated stakes in the Odin and Vali gas field licences to Vintage Energy was terminated after pre-conditions were not met by the 31 March 2026 deadline. The company is now ...
Metgasco Options Expire Unexercised, Trimming Potential Dilution
Apr 20, 2026
Metgasco Ltd has notified the ASX of the cessation of 160,000 MELAJ options, which expired unexercised on 19 April 2026 at an exercise price of $1.25. The expiry of these options without conversion slightly reduces the potential dilutive overhang ...
Vintage Energy Shelves JV Restructure, Keeps 50% Stake as SA Grant Backs Drilling
Apr 1, 2026
Vintage Energy has abandoned a planned restructuring of its Southern Flank Joint Ventures, opting not to proceed with the $5.9 million acquisitions of 25% interests in PRL 211 and ATP 2021 from both Bridgeport and Metgasco. Instead, Vintage will r...
Metgasco Deal with Vintage Collapses as Funding Conditions Missed
Apr 1, 2026
Metgasco has confirmed that its agreement to sell a 25% non-operated interest in the Odin and Vali gas fields to Vintage Energy has been terminated after Vintage failed to meet funding and acquisition pre-conditions by the 31 March 2026 deadline. ...
Metgasco Options Lapse, Trimming Potential Future Share Dilution
Mar 24, 2026
Metgasco Ltd has confirmed the expiry of 1,280,000 listed options with the ASX code MELAI, which carried an exercise price of $1.25 and were due to expire on 22 March 2026. The cessation of these unexercised options reduces the pool of potential f...
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...
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.