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Company Information

Company at a Glance

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

Company Overview

Otto Energy (OEL) focuses on oil and gas exploration in Turkey and the Philippines. The company has two major areas of investment, the gas prospective onshore Thrace basin of Turkey and the oil prospective offshore Palawan and Visayan basins of the Philippines.

Company History

OEL was originally named Kanini Investments Ltd and in November 2004 changed its name to Ottoman Energy Ltd. The company was listed on the ASX in December 2004. Its head office is situated in West Perth.

Industries Of Operation

OEL operates in the Energy Sector. The outlook for the resources industry is closely linked to the world economic growth and the supply/demand balance for raw materials. The growth in demand in Asia, particularly China, is promising for higher average commodity prices in this decade provided new supply does not come on-stream too aggressively ahead of consumption.

Differentiating Factor

Otto Energy has diversified its operations by undertaking exploration activities in both the Philippines and Turkey. OEL has assembled a balanced portfolio of projects, with various degrees of risk and prospectivity.

Major Customers & Competitors

Most oil is sold to the nearest refinery at the spot price, whilst gas is typically sold under long-term contracts with price escalators linked to inflation. Because of the global nature of the oil market, every oil producer is a competitor. For gas producers, competition is much more localised and depends on pipeline access to markets. Key competitors include Rio Tinto, BHP, CH4 Gas Ltd (CHX) and Bounty Oil & Gas (BUY).

Research provided by  

Market Statistics

Market Cap ($M):
102.1
Equiv. Shares (M):
1,134.0
% All Ords:
n/a
12Mth Range ($):
0.06 - 0.12
Turnover ($M pa):
75.0
Index:
NON ASX
Sector:
Energy
Industry Group:
Energy
Industry:
Oil, Gas & Consumable Fuels
Sub Industry:
Oil & Gas Exploration & Production

Last 5 Market Sensitive Announcements

Date
Announcment
29-Jul-10 13:36
Quarterly Cashflow Report - Reissue of Appendix 5B
29-Jul-10 08:25
Quarterly Report - 30 June 2010
29-Apr-10 00:08
Service Contract 55, Philippines - Revisions Granted
18-Apr-10 21:37
Quarterly Report - 31 March 2010
09-Apr-10 09:37
First Gas For Otto from Turkey

Calendar Of Events

Date
Event
27-May-09
EGM Date for Special Event
30-Apr-09
EGM Date for Special Event
27-Nov-08
AGM Date for Final Year Result
21-Oct-08
Reporting Date for Final Year Result
15-Sep-08
EGM Date for Special Event

Directors

Name
Position
Mr R Bomasang
Non-Executive Director
J Jetter
Non-Executive Director

Management

Name
Position
A Parks
CEO
P Moore
Chief Executive Officer

Substantial Shareholders

Name
% Holding
Molton Holdings Ltd
20.0
Santo Holding AG
20.0
YRS Investments Limited
6.7
CSSF
5.4

Consensus Recommendation Summary


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

Number of Brokers in Recommendation Summary: 1

Consensus Earnings

FY10 FY11
Consensus EPS1 (c) -1.1 0.5
EPS Growth (%)   -145.5
P/E Ratio (x) -8.2 18.0
P/E Rel. All Ords (x) -0.73 n/a
P/E Rel. Sector (x) n/a n/a
Number of Brokers in Earnings Survey: 1 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
  09A 09A 09A    
Woodside 24.2 (36.1) 2.3 32,453.7 41.60 Out Perf.
Santos 46.6 (67.0) 3.0 11,073.2 13.30 Out Perf.
Oil Search 64.4 (68.5) 0.8 7,640.4 5.84 Out Perf.
Arrow Energy >99 (93.1) 0.0 3,492.4 4.68 Hold
Otto Energy (2.2) 238.1 0.0 102.1 0.09 Buy

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