OEL 0.00% 1.3¢ otto energy limited

Ann: H1 FY24 Results and Half Year Report, page-6

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    • So market cap of $A62.7m at 1.3c.
    • Net cash USD$34.1m or call it A$51.7m at AUD/USD 0.66
    • Implies a total enterprise value of just $11.1m
    • EBITDA for the half of USD$4.9m or A$7.5m
    • Insurance proceeds expected this quarter of US$1.75m
    • Overheads high but coming down
    • So FOR THE HALF it's trading at ~1.5x EV/EBITDA pre insurance proceeds and pre payout. Likely <1x EV/EBITDA for 2024

    So while gas prices aren't great, IMO this is priced even worse. Looks good value if you ask me
 
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