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Nostrum Oil & Gas
(LSE:NOG)
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Rating:42Neutral
Price Target:
0.60 p
â–¼(-20.00% Downside)
Action:Reiterated
Date:10/30/26
The score is held down primarily by weak financial fundamentals—large ongoing net losses and a highly stressed balance sheet (negative equity and high debt)—despite some recent improvement in gross margin and a return to positive free cash flow. Technicals add further pressure with a clear downtrend (price below key moving averages) and negative momentum, while valuation is difficult to support given the negative P/E and lack of dividend data.
Positive Factors
Revenue growth
Recent revenue growth indicates the operating asset base is still generating modest top-line expansion despite the company’s broader financial stress. If maintained, higher production or sales can improve fixed-cost absorption and provide a larger base from which margin recovery and cash generation may develop.
Negative Factors
Severe unprofitability
The very large loss on a relatively small revenue base indicates that current operations are not translating gross profit into sustainable earnings. Persistent unprofitability can consume financial resources, restrict reinvestment, and make any improvement in production economics less durable until major cost or liability pressures are addressed.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue growth
Recent revenue growth indicates the operating asset base is still generating modest top-line expansion despite the company’s broader financial stress. If maintained, higher production or sales can improve fixed-cost absorption and provide a larger base from which margin recovery and cash generation may develop.
Read all positive factors
Nostrum Oil & Gas (NOG) vs. iShares MSCI United Kingdom ETF (EWC)
Market Cap
£948.46K
Dividend Yield3.29%
Average Volume (3M)117.21K
Price to Earnings (P/E)―
Beta (1Y)-0.17
Revenue Growth-10.13%
EPS Growth-390.01%
CountryUK
Employees595
SectorEnergy
Sector Strength52
IndustryOil & Gas Exploration & Production
Share Statistics
EPS (TTM)-1.33
Shares Outstanding165,244,980
10 Day Avg. Volume149,649
30 Day Avg. Volume117,212
Financial Highlights & Ratios
PEG Ratio>-0.01
Price to Book (P/B)-0.03
Price to Sales (P/S)0.07
P/FCF Ratio-2.15
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
£1.00Price Target Upside33.33% Upside
Rating ConsensusHold
Number of Analyst Covering1
EPS Forecast (FY)-0.48
Revenue Forecast (FY)£135.00M
Nostrum Oil & Gas Business Overview & Revenue Model
Company Description
Nostrum Oil & Gas PLC operates as an independent entity, specializing in the upstream sector of the oil and gas industry. The company is actively involved in discovering, developing, and extracting hydrocarbon resources within the Pre-Caspian Basi...
How the Company Makes Money
NOG primarily makes money by producing hydrocarbons and selling them to third-party buyers. Its core revenue streams are: (1) crude oil and condensate sales, where revenue is generally driven by realized market prices (often linked to regional/int...
Nostrum Oil & Gas Financial Statement Overview
Summary
Income Statement
22
Negative
Balance Sheet
10
Very Negative
Cash Flow
34
Negative
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 126.70M | 120.50M | 137.08M | 119.63M | 199.72M | 195.28M |
| Gross Profit | 49.17M | 37.99M | 65.07M | 42.00M | 115.66M | 99.65M |
| EBITDA | 1.40M | 38.64M | 143.38M | 973.69M | 76.21M | 101.97M |
| Net Income | -220.18M | -218.18M | -26.58M | 831.66M | -116.44M | -26.12M |
Balance Sheet | ||||||
| Total Assets | 486.85M | 501.95M | 606.00M | 519.34M | 590.12M | 565.31M |
| Cash, Cash Equivalents and Short-Term Investments | 155.21M | 143.34M | 150.42M | 161.71M | 233.58M | 165.25M |
| Total Debt | 769.35M | 705.82M | 571.37M | 471.75M | 1.40B | 1.29B |
| Total Liabilities | 867.14M | 808.82M | 698.48M | 585.01M | 1.53B | 1.39B |
| Stockholders Equity | -379.70M | -306.39M | -92.54M | -66.17M | -940.23M | -823.25M |
Cash Flow | ||||||
| Free Cash Flow | 6.07M | -3.80M | 535.00K | -19.48M | 87.43M | 108.58M |
| Operating Cash Flow | 24.74M | 19.59M | 33.08M | -2.22M | 102.20M | 117.42M |
| Investing Cash Flow | 122.66K | -23.39M | -26.47M | -28.08M | -15.78M | -19.78M |
| Financing Cash Flow | -5.85M | -2.78M | -17.71M | -41.62M | -17.48M | -10.86M |
Nostrum Oil & Gas Technical Analysis
Negative
0.75
Price Trends
0.74
Negative
2.12
Negative
2.58
Negative
Market Momentum
-0.07
Negative
28.60
Positive
23.67
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GB:NOG, the sentiment is Negative. The current price of 0.75 is below the 20-day moving average (MA) of 0.78, above the 50-day MA of 0.74, and below the 200-day MA of 2.58, indicating a bearish trend. The MACD of -0.07 indicates Negative momentum. The RSI at 28.60 is Positive, neither overbought nor oversold. The STOCH value of 23.67 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for GB:NOG.
Nostrum Oil & Gas 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% | |
52 Neutral | £11.30M | -7.61 | -18.21% | ― | ― | 33.33% | |
46 Neutral | £11.76M | -5.64 | -8.91% | ― | -25.76% | -69.23% | |
42 Neutral | £948.46K | >-0.01 | 71.56% | 3.29% | -10.13% | -390.01% | |
42 Neutral | £9.14M | -0.90 | -22.10% | 4.20% | ― | -150.68% | |
34 Underperform | £3.82M | -33.13 | -2.93% | 352.73% | 140.95% | 63.64% |
* Energy Sector Average
GB:NOG
Nostrum Oil & Gas
0.58
-3.01
-83.94%
GB:RBD
Reabold Resources
63.00
15.50
32.63%
GB:UOG
United Oil & Gas Plc
0.23
0.09
62.14%
GB:WTE
Westmount Energy
2.65
0.65
32.50%
GB:BLOE
Block Energy Plc
0.80
-0.05
-5.88%
Nostrum Oil & Gas Corporate Events
Business Operations and StrategyFinancial DisclosuresM&A TransactionsPrivate Placements and Financing
Nostrum Oil & Gas Outlines Post-Sale Note Buyback and Wind-Down Funding
Neutral
Oct 20, 2026
Nostrum Oil Gas has detailed the financial steps following the sale of its Kazakhstan operations, including a final interest payment of about U.S.$3.0 million on its 2028 senior unsecured notes and an initial cash payment toward a mandatory note ...
Business Operations and StrategyM&A TransactionsPrivate Placements and Financing
Nostrum Oil & Gas exits Kazakhstan, redeems secured debt in full
Neutral
Oct 16, 2026
Nostrum Oil Gas PLC has completed the sale of its Kazakhstan operations, divesting its interests in Zhaikmunai LLP and POSITIV Invest LLP to Altaris Holding Ltd for US$304.6 million, marking the end of nearly three decades of activity in the coun...
Business Operations and StrategyPrivate Placements and FinancingRegulatory Filings and Compliance
Nostrum Oil & Gas Wins Noteholder Backing to Advance 2026 Debt Consent Deal
Positive
Oct 1, 2026
Nostrum Oil Gas Finance B.V., a financing arm of London-listed Nostrum Oil Gas, has secured bondholder approval for proposed waivers and modifications to its Senior Unsecured Notes due 2026 through a written resolution process. The outcome follo...
Private Placements and FinancingRegulatory Filings and Compliance
Nostrum Oil & Gas Faces OFAC License Hurdle in Noteholder Consent Process
Negative
Sep 22, 2026
Nostrum Oil Gas Finance B.V. has issued an important update to its ongoing consent solicitation for holders of its senior unsecured notes due 2026, following new U.S. sanctions affecting a key noteholder affiliated with VTB Bank. The designation ...
Business Operations and StrategyM&A TransactionsPrivate Placements and Financing
Nostrum Seeks Noteholder Consent as It Sells Kazakh Assets and Restructures Debt
Negative
Sep 8, 2026
Nostrum Oil Gas Finance B.V., an indirect subsidiary of Nostrum Oil Gas PLC, has launched a consent solicitation to eligible holders of its U.S.$345,078,171 1.00%/13.00% Senior Unsecured Notes due 2026. The process seeks approval for an extraord...
Business Operations and StrategyPrivate Placements and Financing
Nostrum Oil & Gas Finalises Consent Solicitation and Tender Offer on Senior Notes
Positive
Sep 4, 2026
Nostrum Oil Gas Finance B.V. and Nostrum Oil Gas B.V. have completed a consent solicitation and tender offer process for their senior secured notes, achieving the required approvals for long-term standstills and related modifications to their de...
Business Operations and StrategyM&A TransactionsPrivate Placements and Financing
Nostrum Extends Note Tender Offer After Agreeing Sale of Key Kazakhstan Assets
Neutral
Aug 19, 2026
Nostrum Oil Gas Finance B.V. and Nostrum Oil Gas B.V. have updated investors after their parent agreed to sell its participating interests in Zhaikmunai LLP and Positiv Invest LLP, along with related loan rights, to Altaris Holding Ltd., backed ...
Business Operations and StrategyM&A Transactions
Nostrum Oil & Gas to Sell Kazakh Assets and Wind Down After Debt Repayments
Negative
Aug 17, 2026
Nostrum Oil Gas has agreed to sell its Kazakh subsidiaries Zhaikmunai LLP and Positiv Invest LLP, including related loan rights, to Altaris Holding for a purchase price of U.S.$304.6 million, subject to working capital and net debt adjustments. M...
Business Operations and StrategyFinancial DisclosuresPrivate Placements and Financing
Nostrum Oil & Gas lifts H1 revenue and cash as it secures bond standstill
Positive
Aug 11, 2026
Nostrum Oil Gas reported stronger unaudited results for the first half of 2026, with revenue up 13.3% to US$72.6 million and EBITDA rising 16.4% to US$27.7 million, driven by higher Brent prices, a better crude export mix and increased third̴...
Business Operations and StrategyFinancial DisclosuresPrivate Placements and Financing
Nostrum Oil & Gas lifts H1 2026 output and cash flow as bond standstill bolsters liquidity
Positive
Jul 31, 2026
Nostrum Oil Gas reported improved operational and financial performance for the six months to 30 June 2026, driven by higher export volumes, stronger product prices and increased third‑party feedstock. Average daily processed volumes rose 5...
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.