Indo (Indonesian Energy corp) is a non government owned oil and gas company located in Indonesia. They have a market cap of around 50 million dollars.
- Indo according to yahoo finance are planning on producing as many as 18 barrels a day using their Kruh 26 well which they had previously,
- Two more oil wells, Kruh 27 and Kruh 28 were dug up and discovered in 2022 by the Indo group
- Moreover according to yahoo finance During drilling of Kruh 28, more than 28% hydrocarbon gas was recorded with composition up to C5 (an indication of the presence of liquid hydrocarbons), suggesting a potential new oil and gas bearing formation. Production from the Kruh 28 well is expected in the first quarter of 2023.
- Financials
- Their last two financial statements showed a negative net profit.
- However in March 2022 their negative income was of – 530 thousand dollars while in December 2021 their net profit was of – 1.58 million dollars, greater than their revenue of 2022.
- The revenue from March 2021 to March 2022 increased over 100% to 1.17 million dollars
- Indo has paid 0 in dividends in the past 12 months
Other competing companies financials,
BP ( British Petroleum)
- September 2022 net income – 2.16 billion dollars, revenue – 54.37 billion dollars
- Jun 2022 net income – 9.26 billion dollars. However in June of 2022 their net change in cash fell by over 100% to -1.31 billion dollars, Revenue of 67.24 billion dollars
Total
- Revenue of 68 billion dollars in September 2022, and a net income of 6.63 billion dollars.
- As of June 2022 they had a revenue of 70.44 billion dollars and a net income of 5.69 billion dollars.
- March 2022 total recorded a revenue of 63.95 billion dollars and a net income of 4.94 billion.
- Annual dividend of around 0.7 euros per share owned, right now trading at 60 euros a share.
- Dividends handed out every 4 months.
In my opinion, Indo is not a good investment since they have not posted their latest quarterly financials, and for the quarterly financials they posted in June 2022 were the same ones they posted in March 2022. Unlike other oil and gas companies such as BP in England, or Total in France, their quarterly revenues published in June 2022, March 2022 and December 2021 have all recorded a negative net profit. furthermore the fact that Indo has paid 0 in dividends in the past 12 months which disincentives's investors to invest in Indo.
BP is a highly volatile company and could be a good investment however more risky then potentially Total, which is slightly less volatile than BP. In addition, since 2015 Total have only posted positive net profits. Moreover Total energies have been paying dividends even during its toughest Covid times, indicating that Total energies is a stable long term growing company.
Let me know what you think!!
Financial Info from https://www.jika.io/?rdt
Indo info from https://finance.yahoo.com/news/indonesia-energy-announces-production-updates-214600995.html
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