2025 Q4 -tulosraportti
28 päivää sitten
‧59 min
0,0371 USD/osake
Viimeisin osinko
9,29%Tuotto/v
Tarjoustasot
Nasdaq Stockholm
Määrä
Osto
-
Myynti
Määrä
-
Viimeisimmät kaupat
| Aika | Hinta | Määrä | Ostaja | Myyjä |
|---|---|---|---|---|
| 22 | - | - | ||
| 250 | - | - | ||
| 808 | - | - | ||
| 600 | - | - | ||
| 400 | - | - |
Välittäjätilasto
Ostaneet eniten
| Välittäjä | Ostettu | Myyty | Netto | Sisäinen |
|---|---|---|---|---|
| Anonyymi | 1 373 882 | 1 373 882 | 0 | 0 |
Myyneet eniten
| Välittäjä | Ostettu | Myyty | Netto | Sisäinen |
|---|---|---|---|---|
| Anonyymi | 1 373 882 | 1 373 882 | 0 | 0 |
Yhtiötapahtumat
Datan lähde: FactSet, Quartr| Seuraava tapahtuma | |
|---|---|
2026 Q1 -tulosraportti 15.5. |
| Menneet tapahtumat | ||
|---|---|---|
2025 Q4 -tulosraportti 25.2. | ||
2025 Q3 -tulosraportti 17.11.2025 | ||
2025 Q2 -tulosraportti 14.8.2025 | ||
2025 Q1 -tulosraportti 16.5.2025 | ||
2024 Q4 -tulosraportti 28.2.2025 |
Asiakkaat katsoivat myös
Shareville
Liity keskusteluun SharevillessäShareville on aktiivisten yksityissijoittajien yhteisö, jossa voit seurata muiden asiakkaiden kaupankäyntiä ja omistuksia.
Kirjaudu
·56 min sittenMEREN ANALYSIS (Updated with today's prices + focus on gas, which is now 32 % of WI production, double-checked against the 2025 annual report...The market is truly in a deep coma when it comes to Meren Energy... the numbers don't lie. Brent Jun-26 is at 94,53 USD right now. At the same time, Meren secured the historic gas agreement for PML 2/3 (Akpo/Egina) in early 2026 – exactly as stated in the annual report (MD&A page 6 and 85).Gas is 32 % of WI production (2026-guidance, WI-basis) and has gone from being a byproduct to being a pure profit machine. The company is still trading at valuations we only see in companies close to bankruptcy. Meren is the exact opposite: an extreme cash flow machine with one of the industry's strongest balance sheets (net debt/EBITDAX only 0,4x at year-end 2025). Here's why the upside is now approaching OVER +200 % – with gas as the single largest driver. 1. The hidden leverage: Oil at $94,5 + The Gas-boost (32 % of production)Meren has extreme operational leverage that the market has not priced in:Oil: For every $10 increase in Brent, EBITDAX rises by approx. $35 million (consistent with history and guidance). From base case $70 to today's $94,5 = pure profit increase of ~$85–90 million that is not visible in the old figures.The Gas-boost (32 % of WI production): The annual report confirms in black and white (MD&A page 6 & 85):”In early 2026, Meren and its JV Parties in PML 2/3 successfully executed an amendment to the gas sales agreement that includes a revised index for gas pricing, locking in a long-term gas price that is more reflective of the current LNG economics compared to 2018… The amendment also includes a mechanism for the sellers to recover the historical difference… starting from 2020… recovered through an upward adjustment to the netback pricing.”These are two separate effects that both directly impact cash flow :New higher prices for all future gas (LNG-indexed – significantly higher margin per unit than the old 2018 index).Catch-up / retroactive repayment from 2020 – historical difference is paid back as an upward adjustment on future gas sales (in practice, free money spread over future volumes) .Volumes: 19,7 Bcf gas sold in 2025 (up from 17,4 Bcf in 2024). 2026-guidance: 32 % gas on WI-basis.Gas is therefore no longer a byproduct – it is 32 % of the company's total output and now suddenly extremely profitable. 2. Multiples that defy logic (with gas-boost included)At $94,5 Brent + gas-reset (32 % of production), Meren becomes ridiculously cheap compared to peers:Key figuresMeren ($94,5 Brent + gas-reset)Seplat EnergySector averageEV / EBITDAX1,9–2,2x6,5x6,0xP/E (Forward)4,5–5,5x11,0x12,0xFCF Yield﹥30 %~12 %11 %Dividend Yield~10 % + buybacks5 %5 %Conclusion: If the multiple normalizes to just half of the sector average → the stock doubles from here. The 32 % share of gas makes the leverage even stronger than oil alone. 3. Sum-of-the-Parts (SOTP) – Now with gas as a separate value componentAt $94,5 oil and revised gas prices (confirmed in the report), NPV10 becomes significantly higher:Updated valuation (CAD per share): AssetValue per share (CAD)Comment (directly from the annual report)Nigeria – Oil ($94,5)3,80Base production + high marginsNigeria – Gas (32 % WI + Reset + catch-up)1,20NEW: Higher LNG prices + retroactive mechanism (MD&A page 6/85) – previously 0,90Namibia – Venus field (full carry)1,50FID 2026, no capex for MerenCash + other exploration0,30Net debt 0,4x EBITDAXTOTAL JUSTIFIED VALUE6,80 CAD+220 % from today's ~2,12 CADWhy the gas value is raised to 1,20 CAD/share: 32 % of production gets both permanently higher margins AND the catch-up mechanism. The market has not priced in either part yet. You buy Nigeria's cash flow (oil + gas) for less than half price – and get Namibia's world-class discovery for free.4. Catalysts – Why it will explode soonDividend & buybacks: Q1-2026 dividend already declared: $25,1 million (~$0,037/share). At $94,5 oil + gas-boost (32 % of volume), there is room for both extra dividends and aggressive buybacks.Namibia FID 2026: Venus revalues the entire company from a "Nigeria-play" to a global growth stock (ESIA complete, FEED ongoing).BTG Pactual (35,5 % owner): Will never accept 2x EBITDAX for a company drowning in cash from both oil and gas.Conclusion: The ultimate asymmetry – now with gas as a turbo There are two ways to make money on the stock market: be right about the future, or buy the present at an absurd bargain price. Meren gives you both – and gas (32 % of production) is the part the market has completely missed .At $94,5 Brent + gas-reset, the company generates so much cash that they can buy back the entire market capitalization in under 3 years – while you get a free ticket to Namibia's oil boom. Bear Case ($60 oil, old gas price): 3,20 CAD (+50 %)Base Case ($90 oil + Gas-reset 32 %): 5,80 CAD (+174 %)Bull Case ($100+ oil
·57 min sittenQuestion for the forum! If the ISIN code is CA5889141019, is the market listing then in Sweden or Canada? . Note that this ISIN code is traded in SEK ... so then it's probably not a Canadian trading venue...? =﹥ at the same time, the ISIN code starts with CA XXXXXX. . This is the trading venue I'm talking about with an ISIN code for Canada (CA) but listed on a Swedish exchange in SEK: https://www.avanza.se/aktier/om-aktien.html/250993/meren-energy . Can someone clarify 100% what applies or elaborate on previous answers ...? =﹥ Does 25% withholding tax (foreign coupon tax) apply to the above ISIN code CA 5889141019 and thus this trading venue: https://www.avanza.se/aktier/om-aktien.html/250993/meren-energy OR does 15% withholding tax on dividends apply to this trading venue...? . Regards- ·4 t sitten. Question to the forum: . How much Withholding tax on dividends in % is deducted from Meren Energy's dividend...? . Grateful for answers . Regards .
- ·20.3.The dip is over… Meren Energy 38kr ?!?! Unfortunately, I cannot upload the data points from Goldman Sachs We are in a classic regime shift. J.P. Morgan's data (Figure 13) confirms that the correlation between S&P 500 and the oil price has broken down. We have left the "Demand Boom" phase and stepped straight into the red zone: Supply Shocks !! 1. The dip is over…. A technical pause in a structural bull-market The short-term setback in Meren Energy was nothing but a buying opportunity for the informed. As we see in the "Iran '26" point in the JPM chart, supply shocks tend to drive the oil price upwards while simultaneously pressing broad indices. The temporary retreat of oil is due to uncertainty surrounding the opening of the Strait of Hormuz, but fundamentals speak a different language. 2. "Higher Oil prices for Longer" is not just a mantra, it's mathematics Goldman Sachs is clear: risks are skewed towards the upside. * Production shortfall: Historically, we see an average drop of 42% of production after four years in similar shocks due to damaged infrastructure and underinvestment. * Hormuz factor: With 30% of the world's crude oil concentrated in the Persian Gulf (25.3 mb/d), margins are non-existent. * Strategic stockpiling: We see an upcoming wave of "stockpiling" from 2027 as countries realize their reserves are depleted. Why is Meren Energy "perfectly positioned"? In a world where 30% of global supply hangs by a fragile thread in Hormuz, Meren's positioning becomes their primary asset!!! * Asymmetric risk/reward: While the market worries about "demand destruction," history shows that during supply shocks, price elasticity is low. Meren holds assets that not only benefit from price levels above $100 but also offer the stability that disappears when the Middle East shakes. Let's not even get into the gas assets... cash cow !! Infrastructural advantage: Goldman mentions the risk of long-term damage to production in war zones. Meren Energy, with its strategic location and (presumed) operational security, functions as a "safe haven" for energy capital. Cash flow machine: With an eye towards 2027, where strategic reserves are to be replenished, companies with delivery capacity will be able to dictate the terms. "When correlations break and supply is choked, one does not invest in indices !!! one invests in physical reality. Meren Energy is that reality !! > So my conclusion I see the short-term dip as completed. The market has priced in a quick solution which I, supported by GS analysis etc. of historical shocks, find unlikely. I expect Brent to remain HIGHER FOR LONGER Meren Energy is my top-pick to ride out this storm and emerge as one of the big winners when the dust settles.
·19.3.Avanza states that it's ex-date today. I believe that's correct and it affects the price today. Nordnet indicates tomorrow.
·20.3. · MuokattuThe record date is governing and it is the same regardless of market. You must be registered as the owner of the share on the record date. The ex-date depends on the record date. In Sweden, you become registered as owner two days after you buy the share. In Canada, it now only takes one day to become registered as owner.
Yllä olevat kommentit ovat peräisin Nordnetin sosiaalisen verkoston Sharevillen käyttäjiltä, eikä niitä ole muokattu eikä Nordnet ole tarkastanut niitä etukäteen. Ne eivät tarkoita, että Nordnet tarjoaisi sijoitusneuvoja tai sijoitussuosituksia. Nordnet ei ota vastuuta kommenteista.
Uutiset
Tämän sivun uutiset ja/tai sijoitussuositukset tai otteet niistä sekä niihin liittyvät linkit ovat mainitun tahon tuottamia ja toimittamia. Nordnet ei ole osallistunut materiaalin laatimiseen, eikä ole tarkistanut sen sisältöä tai tehnyt sisältöön muutoksia. Lue lisää sijoitussuosituksista.
2025 Q4 -tulosraportti
28 päivää sitten
‧59 min
0,0371 USD/osake
Viimeisin osinko
9,29%Tuotto/v
Uutiset
Tämän sivun uutiset ja/tai sijoitussuositukset tai otteet niistä sekä niihin liittyvät linkit ovat mainitun tahon tuottamia ja toimittamia. Nordnet ei ole osallistunut materiaalin laatimiseen, eikä ole tarkistanut sen sisältöä tai tehnyt sisältöön muutoksia. Lue lisää sijoitussuosituksista.
Shareville
Liity keskusteluun SharevillessäShareville on aktiivisten yksityissijoittajien yhteisö, jossa voit seurata muiden asiakkaiden kaupankäyntiä ja omistuksia.
Kirjaudu
- ·56 min sittenMEREN ANALYSIS (Updated with today's prices + focus on gas, which is now 32 % of WI production, double-checked against the 2025 annual report...The market is truly in a deep coma when it comes to Meren Energy... the numbers don't lie. Brent Jun-26 is at 94,53 USD right now. At the same time, Meren secured the historic gas agreement for PML 2/3 (Akpo/Egina) in early 2026 – exactly as stated in the annual report (MD&A page 6 and 85).Gas is 32 % of WI production (2026-guidance, WI-basis) and has gone from being a byproduct to being a pure profit machine. The company is still trading at valuations we only see in companies close to bankruptcy. Meren is the exact opposite: an extreme cash flow machine with one of the industry's strongest balance sheets (net debt/EBITDAX only 0,4x at year-end 2025). Here's why the upside is now approaching OVER +200 % – with gas as the single largest driver. 1. The hidden leverage: Oil at $94,5 + The Gas-boost (32 % of production)Meren has extreme operational leverage that the market has not priced in:Oil: For every $10 increase in Brent, EBITDAX rises by approx. $35 million (consistent with history and guidance). From base case $70 to today's $94,5 = pure profit increase of ~$85–90 million that is not visible in the old figures.The Gas-boost (32 % of WI production): The annual report confirms in black and white (MD&A page 6 & 85):”In early 2026, Meren and its JV Parties in PML 2/3 successfully executed an amendment to the gas sales agreement that includes a revised index for gas pricing, locking in a long-term gas price that is more reflective of the current LNG economics compared to 2018… The amendment also includes a mechanism for the sellers to recover the historical difference… starting from 2020… recovered through an upward adjustment to the netback pricing.”These are two separate effects that both directly impact cash flow :New higher prices for all future gas (LNG-indexed – significantly higher margin per unit than the old 2018 index).Catch-up / retroactive repayment from 2020 – historical difference is paid back as an upward adjustment on future gas sales (in practice, free money spread over future volumes) .Volumes: 19,7 Bcf gas sold in 2025 (up from 17,4 Bcf in 2024). 2026-guidance: 32 % gas on WI-basis.Gas is therefore no longer a byproduct – it is 32 % of the company's total output and now suddenly extremely profitable. 2. Multiples that defy logic (with gas-boost included)At $94,5 Brent + gas-reset (32 % of production), Meren becomes ridiculously cheap compared to peers:Key figuresMeren ($94,5 Brent + gas-reset)Seplat EnergySector averageEV / EBITDAX1,9–2,2x6,5x6,0xP/E (Forward)4,5–5,5x11,0x12,0xFCF Yield﹥30 %~12 %11 %Dividend Yield~10 % + buybacks5 %5 %Conclusion: If the multiple normalizes to just half of the sector average → the stock doubles from here. The 32 % share of gas makes the leverage even stronger than oil alone. 3. Sum-of-the-Parts (SOTP) – Now with gas as a separate value componentAt $94,5 oil and revised gas prices (confirmed in the report), NPV10 becomes significantly higher:Updated valuation (CAD per share): AssetValue per share (CAD)Comment (directly from the annual report)Nigeria – Oil ($94,5)3,80Base production + high marginsNigeria – Gas (32 % WI + Reset + catch-up)1,20NEW: Higher LNG prices + retroactive mechanism (MD&A page 6/85) – previously 0,90Namibia – Venus field (full carry)1,50FID 2026, no capex for MerenCash + other exploration0,30Net debt 0,4x EBITDAXTOTAL JUSTIFIED VALUE6,80 CAD+220 % from today's ~2,12 CADWhy the gas value is raised to 1,20 CAD/share: 32 % of production gets both permanently higher margins AND the catch-up mechanism. The market has not priced in either part yet. You buy Nigeria's cash flow (oil + gas) for less than half price – and get Namibia's world-class discovery for free.4. Catalysts – Why it will explode soonDividend & buybacks: Q1-2026 dividend already declared: $25,1 million (~$0,037/share). At $94,5 oil + gas-boost (32 % of volume), there is room for both extra dividends and aggressive buybacks.Namibia FID 2026: Venus revalues the entire company from a "Nigeria-play" to a global growth stock (ESIA complete, FEED ongoing).BTG Pactual (35,5 % owner): Will never accept 2x EBITDAX for a company drowning in cash from both oil and gas.Conclusion: The ultimate asymmetry – now with gas as a turbo There are two ways to make money on the stock market: be right about the future, or buy the present at an absurd bargain price. Meren gives you both – and gas (32 % of production) is the part the market has completely missed .At $94,5 Brent + gas-reset, the company generates so much cash that they can buy back the entire market capitalization in under 3 years – while you get a free ticket to Namibia's oil boom. Bear Case ($60 oil, old gas price): 3,20 CAD (+50 %)Base Case ($90 oil + Gas-reset 32 %): 5,80 CAD (+174 %)Bull Case ($100+ oil
- ·57 min sittenQuestion for the forum! If the ISIN code is CA5889141019, is the market listing then in Sweden or Canada? . Note that this ISIN code is traded in SEK ... so then it's probably not a Canadian trading venue...? =﹥ at the same time, the ISIN code starts with CA XXXXXX. . This is the trading venue I'm talking about with an ISIN code for Canada (CA) but listed on a Swedish exchange in SEK: https://www.avanza.se/aktier/om-aktien.html/250993/meren-energy . Can someone clarify 100% what applies or elaborate on previous answers ...? =﹥ Does 25% withholding tax (foreign coupon tax) apply to the above ISIN code CA 5889141019 and thus this trading venue: https://www.avanza.se/aktier/om-aktien.html/250993/meren-energy OR does 15% withholding tax on dividends apply to this trading venue...? . Regards
- ·4 t sitten. Question to the forum: . How much Withholding tax on dividends in % is deducted from Meren Energy's dividend...? . Grateful for answers . Regards .
- ·20.3.The dip is over… Meren Energy 38kr ?!?! Unfortunately, I cannot upload the data points from Goldman Sachs We are in a classic regime shift. J.P. Morgan's data (Figure 13) confirms that the correlation between S&P 500 and the oil price has broken down. We have left the "Demand Boom" phase and stepped straight into the red zone: Supply Shocks !! 1. The dip is over…. A technical pause in a structural bull-market The short-term setback in Meren Energy was nothing but a buying opportunity for the informed. As we see in the "Iran '26" point in the JPM chart, supply shocks tend to drive the oil price upwards while simultaneously pressing broad indices. The temporary retreat of oil is due to uncertainty surrounding the opening of the Strait of Hormuz, but fundamentals speak a different language. 2. "Higher Oil prices for Longer" is not just a mantra, it's mathematics Goldman Sachs is clear: risks are skewed towards the upside. * Production shortfall: Historically, we see an average drop of 42% of production after four years in similar shocks due to damaged infrastructure and underinvestment. * Hormuz factor: With 30% of the world's crude oil concentrated in the Persian Gulf (25.3 mb/d), margins are non-existent. * Strategic stockpiling: We see an upcoming wave of "stockpiling" from 2027 as countries realize their reserves are depleted. Why is Meren Energy "perfectly positioned"? In a world where 30% of global supply hangs by a fragile thread in Hormuz, Meren's positioning becomes their primary asset!!! * Asymmetric risk/reward: While the market worries about "demand destruction," history shows that during supply shocks, price elasticity is low. Meren holds assets that not only benefit from price levels above $100 but also offer the stability that disappears when the Middle East shakes. Let's not even get into the gas assets... cash cow !! Infrastructural advantage: Goldman mentions the risk of long-term damage to production in war zones. Meren Energy, with its strategic location and (presumed) operational security, functions as a "safe haven" for energy capital. Cash flow machine: With an eye towards 2027, where strategic reserves are to be replenished, companies with delivery capacity will be able to dictate the terms. "When correlations break and supply is choked, one does not invest in indices !!! one invests in physical reality. Meren Energy is that reality !! > So my conclusion I see the short-term dip as completed. The market has priced in a quick solution which I, supported by GS analysis etc. of historical shocks, find unlikely. I expect Brent to remain HIGHER FOR LONGER Meren Energy is my top-pick to ride out this storm and emerge as one of the big winners when the dust settles.
- ·19.3.Avanza states that it's ex-date today. I believe that's correct and it affects the price today. Nordnet indicates tomorrow.·20.3. · MuokattuThe record date is governing and it is the same regardless of market. You must be registered as the owner of the share on the record date. The ex-date depends on the record date. In Sweden, you become registered as owner two days after you buy the share. In Canada, it now only takes one day to become registered as owner.
Yllä olevat kommentit ovat peräisin Nordnetin sosiaalisen verkoston Sharevillen käyttäjiltä, eikä niitä ole muokattu eikä Nordnet ole tarkastanut niitä etukäteen. Ne eivät tarkoita, että Nordnet tarjoaisi sijoitusneuvoja tai sijoitussuosituksia. Nordnet ei ota vastuuta kommenteista.
Tarjoustasot
Nasdaq Stockholm
Määrä
Osto
-
Myynti
Määrä
-
Viimeisimmät kaupat
| Aika | Hinta | Määrä | Ostaja | Myyjä |
|---|---|---|---|---|
| 22 | - | - | ||
| 250 | - | - | ||
| 808 | - | - | ||
| 600 | - | - | ||
| 400 | - | - |
Välittäjätilasto
Ostaneet eniten
| Välittäjä | Ostettu | Myyty | Netto | Sisäinen |
|---|---|---|---|---|
| Anonyymi | 1 373 882 | 1 373 882 | 0 | 0 |
Myyneet eniten
| Välittäjä | Ostettu | Myyty | Netto | Sisäinen |
|---|---|---|---|---|
| Anonyymi | 1 373 882 | 1 373 882 | 0 | 0 |
Asiakkaat katsoivat myös
Yhtiötapahtumat
Datan lähde: FactSet, Quartr| Seuraava tapahtuma | |
|---|---|
2026 Q1 -tulosraportti 15.5. |
| Menneet tapahtumat | ||
|---|---|---|
2025 Q4 -tulosraportti 25.2. | ||
2025 Q3 -tulosraportti 17.11.2025 | ||
2025 Q2 -tulosraportti 14.8.2025 | ||
2025 Q1 -tulosraportti 16.5.2025 | ||
2024 Q4 -tulosraportti 28.2.2025 |
2025 Q4 -tulosraportti
28 päivää sitten
‧59 min
Uutiset
Tämän sivun uutiset ja/tai sijoitussuositukset tai otteet niistä sekä niihin liittyvät linkit ovat mainitun tahon tuottamia ja toimittamia. Nordnet ei ole osallistunut materiaalin laatimiseen, eikä ole tarkistanut sen sisältöä tai tehnyt sisältöön muutoksia. Lue lisää sijoitussuosituksista.
Yhtiötapahtumat
Datan lähde: FactSet, Quartr| Seuraava tapahtuma | |
|---|---|
2026 Q1 -tulosraportti 15.5. |
| Menneet tapahtumat | ||
|---|---|---|
2025 Q4 -tulosraportti 25.2. | ||
2025 Q3 -tulosraportti 17.11.2025 | ||
2025 Q2 -tulosraportti 14.8.2025 | ||
2025 Q1 -tulosraportti 16.5.2025 | ||
2024 Q4 -tulosraportti 28.2.2025 |
0,0371 USD/osake
Viimeisin osinko
9,29%Tuotto/v
Shareville
Liity keskusteluun SharevillessäShareville on aktiivisten yksityissijoittajien yhteisö, jossa voit seurata muiden asiakkaiden kaupankäyntiä ja omistuksia.
Kirjaudu
- ·56 min sittenMEREN ANALYSIS (Updated with today's prices + focus on gas, which is now 32 % of WI production, double-checked against the 2025 annual report...The market is truly in a deep coma when it comes to Meren Energy... the numbers don't lie. Brent Jun-26 is at 94,53 USD right now. At the same time, Meren secured the historic gas agreement for PML 2/3 (Akpo/Egina) in early 2026 – exactly as stated in the annual report (MD&A page 6 and 85).Gas is 32 % of WI production (2026-guidance, WI-basis) and has gone from being a byproduct to being a pure profit machine. The company is still trading at valuations we only see in companies close to bankruptcy. Meren is the exact opposite: an extreme cash flow machine with one of the industry's strongest balance sheets (net debt/EBITDAX only 0,4x at year-end 2025). Here's why the upside is now approaching OVER +200 % – with gas as the single largest driver. 1. The hidden leverage: Oil at $94,5 + The Gas-boost (32 % of production)Meren has extreme operational leverage that the market has not priced in:Oil: For every $10 increase in Brent, EBITDAX rises by approx. $35 million (consistent with history and guidance). From base case $70 to today's $94,5 = pure profit increase of ~$85–90 million that is not visible in the old figures.The Gas-boost (32 % of WI production): The annual report confirms in black and white (MD&A page 6 & 85):”In early 2026, Meren and its JV Parties in PML 2/3 successfully executed an amendment to the gas sales agreement that includes a revised index for gas pricing, locking in a long-term gas price that is more reflective of the current LNG economics compared to 2018… The amendment also includes a mechanism for the sellers to recover the historical difference… starting from 2020… recovered through an upward adjustment to the netback pricing.”These are two separate effects that both directly impact cash flow :New higher prices for all future gas (LNG-indexed – significantly higher margin per unit than the old 2018 index).Catch-up / retroactive repayment from 2020 – historical difference is paid back as an upward adjustment on future gas sales (in practice, free money spread over future volumes) .Volumes: 19,7 Bcf gas sold in 2025 (up from 17,4 Bcf in 2024). 2026-guidance: 32 % gas on WI-basis.Gas is therefore no longer a byproduct – it is 32 % of the company's total output and now suddenly extremely profitable. 2. Multiples that defy logic (with gas-boost included)At $94,5 Brent + gas-reset (32 % of production), Meren becomes ridiculously cheap compared to peers:Key figuresMeren ($94,5 Brent + gas-reset)Seplat EnergySector averageEV / EBITDAX1,9–2,2x6,5x6,0xP/E (Forward)4,5–5,5x11,0x12,0xFCF Yield﹥30 %~12 %11 %Dividend Yield~10 % + buybacks5 %5 %Conclusion: If the multiple normalizes to just half of the sector average → the stock doubles from here. The 32 % share of gas makes the leverage even stronger than oil alone. 3. Sum-of-the-Parts (SOTP) – Now with gas as a separate value componentAt $94,5 oil and revised gas prices (confirmed in the report), NPV10 becomes significantly higher:Updated valuation (CAD per share): AssetValue per share (CAD)Comment (directly from the annual report)Nigeria – Oil ($94,5)3,80Base production + high marginsNigeria – Gas (32 % WI + Reset + catch-up)1,20NEW: Higher LNG prices + retroactive mechanism (MD&A page 6/85) – previously 0,90Namibia – Venus field (full carry)1,50FID 2026, no capex for MerenCash + other exploration0,30Net debt 0,4x EBITDAXTOTAL JUSTIFIED VALUE6,80 CAD+220 % from today's ~2,12 CADWhy the gas value is raised to 1,20 CAD/share: 32 % of production gets both permanently higher margins AND the catch-up mechanism. The market has not priced in either part yet. You buy Nigeria's cash flow (oil + gas) for less than half price – and get Namibia's world-class discovery for free.4. Catalysts – Why it will explode soonDividend & buybacks: Q1-2026 dividend already declared: $25,1 million (~$0,037/share). At $94,5 oil + gas-boost (32 % of volume), there is room for both extra dividends and aggressive buybacks.Namibia FID 2026: Venus revalues the entire company from a "Nigeria-play" to a global growth stock (ESIA complete, FEED ongoing).BTG Pactual (35,5 % owner): Will never accept 2x EBITDAX for a company drowning in cash from both oil and gas.Conclusion: The ultimate asymmetry – now with gas as a turbo There are two ways to make money on the stock market: be right about the future, or buy the present at an absurd bargain price. Meren gives you both – and gas (32 % of production) is the part the market has completely missed .At $94,5 Brent + gas-reset, the company generates so much cash that they can buy back the entire market capitalization in under 3 years – while you get a free ticket to Namibia's oil boom. Bear Case ($60 oil, old gas price): 3,20 CAD (+50 %)Base Case ($90 oil + Gas-reset 32 %): 5,80 CAD (+174 %)Bull Case ($100+ oil
- ·57 min sittenQuestion for the forum! If the ISIN code is CA5889141019, is the market listing then in Sweden or Canada? . Note that this ISIN code is traded in SEK ... so then it's probably not a Canadian trading venue...? =﹥ at the same time, the ISIN code starts with CA XXXXXX. . This is the trading venue I'm talking about with an ISIN code for Canada (CA) but listed on a Swedish exchange in SEK: https://www.avanza.se/aktier/om-aktien.html/250993/meren-energy . Can someone clarify 100% what applies or elaborate on previous answers ...? =﹥ Does 25% withholding tax (foreign coupon tax) apply to the above ISIN code CA 5889141019 and thus this trading venue: https://www.avanza.se/aktier/om-aktien.html/250993/meren-energy OR does 15% withholding tax on dividends apply to this trading venue...? . Regards
- ·4 t sitten. Question to the forum: . How much Withholding tax on dividends in % is deducted from Meren Energy's dividend...? . Grateful for answers . Regards .
- ·20.3.The dip is over… Meren Energy 38kr ?!?! Unfortunately, I cannot upload the data points from Goldman Sachs We are in a classic regime shift. J.P. Morgan's data (Figure 13) confirms that the correlation between S&P 500 and the oil price has broken down. We have left the "Demand Boom" phase and stepped straight into the red zone: Supply Shocks !! 1. The dip is over…. A technical pause in a structural bull-market The short-term setback in Meren Energy was nothing but a buying opportunity for the informed. As we see in the "Iran '26" point in the JPM chart, supply shocks tend to drive the oil price upwards while simultaneously pressing broad indices. The temporary retreat of oil is due to uncertainty surrounding the opening of the Strait of Hormuz, but fundamentals speak a different language. 2. "Higher Oil prices for Longer" is not just a mantra, it's mathematics Goldman Sachs is clear: risks are skewed towards the upside. * Production shortfall: Historically, we see an average drop of 42% of production after four years in similar shocks due to damaged infrastructure and underinvestment. * Hormuz factor: With 30% of the world's crude oil concentrated in the Persian Gulf (25.3 mb/d), margins are non-existent. * Strategic stockpiling: We see an upcoming wave of "stockpiling" from 2027 as countries realize their reserves are depleted. Why is Meren Energy "perfectly positioned"? In a world where 30% of global supply hangs by a fragile thread in Hormuz, Meren's positioning becomes their primary asset!!! * Asymmetric risk/reward: While the market worries about "demand destruction," history shows that during supply shocks, price elasticity is low. Meren holds assets that not only benefit from price levels above $100 but also offer the stability that disappears when the Middle East shakes. Let's not even get into the gas assets... cash cow !! Infrastructural advantage: Goldman mentions the risk of long-term damage to production in war zones. Meren Energy, with its strategic location and (presumed) operational security, functions as a "safe haven" for energy capital. Cash flow machine: With an eye towards 2027, where strategic reserves are to be replenished, companies with delivery capacity will be able to dictate the terms. "When correlations break and supply is choked, one does not invest in indices !!! one invests in physical reality. Meren Energy is that reality !! > So my conclusion I see the short-term dip as completed. The market has priced in a quick solution which I, supported by GS analysis etc. of historical shocks, find unlikely. I expect Brent to remain HIGHER FOR LONGER Meren Energy is my top-pick to ride out this storm and emerge as one of the big winners when the dust settles.
- ·19.3.Avanza states that it's ex-date today. I believe that's correct and it affects the price today. Nordnet indicates tomorrow.·20.3. · MuokattuThe record date is governing and it is the same regardless of market. You must be registered as the owner of the share on the record date. The ex-date depends on the record date. In Sweden, you become registered as owner two days after you buy the share. In Canada, it now only takes one day to become registered as owner.
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