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Dune Oil Corp
(DUNE)
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Rating:41Neutral
Price Target:
C$0.12
▼(-25.63% Downside)
Action:Upgraded
Date:10/01/26
The score is driven primarily by very weak financial performance (sharp revenue decline, extreme losses, and negative equity), which outweighs the modest support from positive recent free cash flow. Technicals add further pressure as the stock trades below key moving averages with negative MACD and weak RSI. Valuation provides limited support due to a negative P/E and no dividend yield data.
Positive Factors
Natural Gas Asset Focus
The company has a defined upstream focus centered on natural gas production and development in Turkey. Its SASB interest provides an established operating platform and exposure to domestic gas demand, supporting a business model that can generate recurring revenue when production is maintained.
Negative Factors
Revenue and Profitability Deterioration
The sharp revenue contraction and extremely negative net margin show that the current revenue base is not supporting the cost structure. Unless production, pricing, or operating performance improves materially, continued losses could weaken reinvestment capacity and make earnings recovery difficult over the next several quarters.
Read all positive and negative factors
Positive Factors
Negative Factors
Natural Gas Asset Focus
The company has a defined upstream focus centered on natural gas production and development in Turkey. Its SASB interest provides an established operating platform and exposure to domestic gas demand, supporting a business model that can generate recurring revenue when production is maintained.
Read all positive factors
Dune Oil Corp (DUNE) vs. iShares MSCI Canada ETF (EWC)
Market Cap
C$8.73M
Dividend YieldN/A
Average Volume (3M)70.49K
Price to Earnings (P/E)―
Beta (1Y)0.60
Revenue GrowthN/A
EPS GrowthN/A
CountryCA
Employees10
SectorEnergy
Sector Strength52
IndustryOil & Gas Exploration & Production
Share Statistics
EPS (TTM)-1.80
Shares Outstanding60,196,827
10 Day Avg. Volume143,027
30 Day Avg. Volume70,493
Financial Highlights & Ratios
PEG Ratio<0.01
Price to Book (P/B)-0.05
Price to Sales (P/S)0.72
P/FCF Ratio1.68
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
Dune Oil Corp Business Overview & Revenue Model
Company Description
Dune Oil Corp., an oil and gas exploration company, focuses on the exploration and development of oil and natural gas in Türkiye. It holds interest in M47 Block that covers an area of 450 square kilometer located in Turkiye. The company was former...
How the Company Makes Money
Trillion Energy primarily makes money by producing and selling hydrocarbons (mainly natural gas and, to a lesser extent, oil) from its operated and non-operated upstream assets. Its key revenue stream is the sale of produced natural gas from the S...
Dune Oil Corp Financial Statement Overview
Summary
Income Statement
12
Very Negative
Balance Sheet
9
Very Negative
Cash Flow
28
Negative
| Breakdown | TTM | Dec 2025 | Mar 2025 | Mar 2024 | Dec 2022 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 1.94M | 2.88M | 7.00M | 16.80M | 9.38M | 3.70M |
| Gross Profit | 55.49K | 2.35K | 68.71K | 7.14M | 4.21M | 818.04K |
| EBITDA | -51.84M | -49.41M | -2.73M | 8.30M | -4.45M | -2.96M |
| Net Income | -53.59M | -49.22M | -9.13M | -1.10M | -8.87M | -2.18M |
Balance Sheet | ||||||
| Total Assets | 2.56M | 3.10M | 54.86M | 58.61M | 37.02M | 7.16M |
| Cash, Cash Equivalents and Short-Term Investments | 240.74K | 430.31K | 599.21K | 1.19M | 926.06K | 1.03M |
| Total Debt | 15.67M | 16.80M | 15.77M | 13.94M | 175.16K | 664.37K |
| Total Liabilities | 42.34M | 42.00M | 40.72M | 36.40M | 16.39M | 6.42M |
| Stockholders Equity | -39.79M | -38.90M | 14.15M | 22.21M | 20.63M | 741.08K |
Cash Flow | ||||||
| Free Cash Flow | 354.89K | 1.23M | -5.71M | -1.59M | 6.34M | -2.06M |
| Operating Cash Flow | 633.62K | 1.24M | -5.70M | -1.53M | 7.03M | -1.88M |
| Investing Cash Flow | -578.51K | -790.63K | 777.13K | -18.78M | -37.43M | -181.84K |
| Financing Cash Flow | -53.85K | -547.98K | 3.72M | 20.59M | 30.12M | 2.66M |
Dune Oil Corp Technical Analysis
Negative
0.16
Price Trends
0.16
Negative
0.17
Negative
0.15
Negative
Market Momentum
>-0.01
Positive
35.99
Neutral
64.44
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:DUNE, the sentiment is Negative. The current price of 0.16 is above the 20-day moving average (MA) of 0.15, above the 50-day MA of 0.16, and above the 200-day MA of 0.15, indicating a bearish trend. The MACD of >-0.01 indicates Positive momentum. The RSI at 35.99 is Neutral, neither overbought nor oversold. The STOCH value of 64.44 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for TSE:DUNE.
Dune Oil Corp 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% | |
53 Neutral | C$6.09M | 23.73 | 24.45% | ― | 50.89% | ― | |
46 Neutral | C$29.09M | -3.83 | -12.06% | 230.77% | -14.21% | 37.17% | |
45 Neutral | C$15.87M | -4.63 | -13.00% | ― | 7.00% | 27.59% | |
41 Neutral | C$8.73M | -0.06 | 376.62% | ― | ― | ― | |
32 Underperform | C$2.10M | -0.65 | -94.36% | ― | ― | ― | |
27 Underperform | C$3.34M | -1.16 | 74.77% | ― | ― | ― |
* Energy Sector Average
TSE:DUNE
Dune Oil Corp
0.13
0.05
68.92%
TSE:BNG
Bengal Energy
0.03
<0.01
25.00%
TSE:PNN
Pennine Petroleum
0.06
0.00
0.00%
TSE:TAO
TAG Oil
0.09
-0.03
-25.00%
TSE:WCE
Wescan Energy
0.14
0.06
64.71%
TSE:OIL
Permex Petroleum Corporation
3.81
-0.99
-20.62%
Dune Oil Corp Corporate Events
Business Operations and StrategyDelistings and Listing ChangesPrivate Placements and Financing
Dune Oil Updates OTC Symbol and Raises Capital for Türkiye Exploration
Positive
Sep 16, 2026
Dune Oil Corp. has adopted a new OTCQB trading symbol, DUNXF, for its common shares in the U.S., an administrative change that leaves its Canadian and Frankfurt listings unchanged and requires no action from shareholders. The move reinforces the c...
Business Operations and StrategyExecutive/Board ChangesShareholder Meetings
Dune Oil Boosts Board and Management Ahead of November AGM
Positive
Aug 27, 2026
Dune Oil has scheduled its 2026 annual general meeting for November 16, 2026, and will use electronic notice-and-access for proxy materials filed on SEDAR+ and posted on its website. Shareholders will be asked to set the board at six directors, el...
Business Operations and Strategy
Dune Oil Advances Gabar Block Seismic Plans and Sets Investor Presentation at EnerCom Denver
Positive
Aug 14, 2026
Dune Oil Corp. has completed contractor site visits at its Gabar Block in southeastern Türkiye ahead of a planned 2D seismic acquisition program. The field inspections, conducted with contractors, service providers, and partners, finalized th...
Business Operations and Strategy
Dune Oil Pushes Ahead with High-Potential Gabar Block in Türkiye
Positive
Aug 11, 2026
Dune Oil Corp. is advancing its Gabar Block oil discovery in southeastern Türkiye, where an independent evaluation has assigned the North Prospect a 2C contingent resource of 27.6 million barrels of light oil and total unrisked resource poten...
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.