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Company Information

Company at a Glance

Industry:
Oil, Gas & Consumable Fuels
Fiscal Year-End:
Jun 10

Company Overview

ESG is an exploration company exploring for both conventional and coal bed methane gas development opportunities. Its operations are focused primarily on New South Wales and Victoria. ESG's key asset is the Coonarah gas field supplying the 10MW Wilga Park Power Station. In FY08, ESG divested conventional gas exploration licences, except PEL 238, through the listing of Orion Petroleum Limited, in which it holds a 23% interest.

Company History

Eastern Star Gas was formed as a private company in 2000. The company was listed on the ASX in February 2001. Its head office is situated in Sydney.

Industries Of Operation

ESG operates in the Energy Sector. Gas explorers own rights to explore for commodities in certain areas, and discovery goes through several stages from initial finding through to test and appraisal wells and finally to production. Often joint ventures are formed to offset the risk and costs involved.

Differentiating Factor

The company deals with indigenous conventional natural gas reserves in NSW. This gas is used to produce low greenhouse-intensity base load electricity mainly from its Wilga Park Power Station.

Major Customers & Competitors

Gas is typically sold under long-term contract arrangements with utilities, large industrial users and steel plants. Key competitors include Rio Tinto (RIO), BHP Billiton (BHP), CH4 Gas Ltd (CHX) and Bounty Oil & Gas (BUY).

Research provided by  

Market Statistics

Market Cap ($M):
618.6
Equiv. Shares (M):
816.4
% All Ords:
0.04
12Mth Range ($):
0.55 - 1.17
Turnover ($M pa):
688.9
Index:
S&P/ASX 200
Sector:
Energy
Industry Group:
Energy
Industry:
Oil, Gas & Consumable Fuels
Sub Industry:
Oil & Gas Exploration & Production

Last 5 Market Sensitive Announcements

Date
Announcment
02-Feb-10 11:12
Bimonthly Drilling Report
01-Feb-10 09:18
Eastern Star Gas Exceeds 2009 Reserves Target
29-Jan-10 10:18
Quarterly Report - December 2009
15-Jan-10 09:29
Bimonthly Drilling Report
05-Jan-10 09:21
ASX Price Query and Response

Calendar Of Events

Date
Event
19-Nov-08
AGM Date for Final Year Result
24-Sep-08
Reporting Date for Final Year Result
30-Nov-07
AGM Date for Final Year Result
03-Aug-07
EGM Date for Special Event
30-Nov-06
AGM Date for Final Year Result

Directors

Name
Position
J Anderson
Chairman
Dr D King
Non-Executive Chairman
C B Ryan
Director
A Sundich
Non-Executive Director
P Lansom
Executive Director

Management

Name
Position
P Lansom
COO
D Casey
Managing Director

Substantial Shareholders

Name
% Holding
Hillgrove Rescources Limited & Santos Lt
20.0
D W King
14.8
Ingalls & Snyder LLC
9.7
D G Battersby
5.8
D J Morton
5.2
TRU energy Investment Pty Ltd
5.1

Consensus Recommendation Summary


0
0
1
2
1
Sell Under Perf. Hold Out Perf. Buy

Number of Brokers in Recommendation Summary: 4

Consensus Earnings

FY10 FY11
Consensus EPS1 (c) -0.2 1.0
EPS Growth (%)   -671.4
P/E Ratio (x) -405.7 71.0
P/E Rel. All Ords (x) -27.69 5.84
P/E Rel. Sector (x) -17.34 5.07
Number of Brokers in Earnings Survey: 4 1

1. Consensus EPS is generally "reported EPS" but will vary as to whether it is on a pre or post preference earnings basis. This number is not always on the same basis as the Aegis EPS.

Historical Forecast Earnings And Recommendations

Consensus Recommendations

Consensus information provided by Reuters.

Consensus EPS Forecasts 1

1. Consensus EPS is generally "reported EPS" but will vary as to whether it is on a pre or post preference earnings basis. This number is not always on the same basis as the Aegis EPS.

Peer Recommendation Comparison

  P/E (x) EPS Chg (%) Dividend Yield (%) MktCap ($M) Price ($) Consensus Rec
  08A 08A 08A    
Woodside 15.9 52.5 3.2 33,257.0 42.33 Out Perf.
Santos 15.4 22.3 2.9 11,654.5 13.15 Out Perf.
Oil Search 18.5 91.8 2.0 6,705.7 5.18 Out Perf.
Arrow Energy 62.5 51.4 0.0 2,549.5 3.42 Out Perf.
Eastern Star Gas n/a n/a n/a 618.6 0.71 Out Perf.

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