Global Energy Undiscovered Gems With Strong Fundamentals

Padma Oil

Market Cap: ৳17.6b

Engages in the procurement, storage, and marketing of petroleum products, lubricants, greases, bitumen, and LPG in Bangladesh.

Wison Engineering Services

Market Cap: HK$1.3b

An investment holding company, provides chemical engineering, procurement, and construction management services in Mainland China, the United States, the Middle East, Europe, and internationally.

Citra Tubindo

Market Cap: Rp3.9t

Provides pipes and accessories, and related services to the oil and gas industries in Indonesia.

Dwi Guna Laksana

Market Cap: Rp2.4t

Engages in the coal mining and trading activities in Indonesia.

Kyungdong Invest

Market Cap: ₩141.9b

Primarily engages in the supply of city gas in South Korea.

Jadranski naftovod d.d

Market Cap: €826.3m

Engages in the transport and storage of oil and oil products in the Republic of Croatia and internationally.

Société Multinationale de Bitumes Société Anonyme

Market Cap: XOF 66.3b

Processes heavy bitumen crude in Africa.

Empresas Lipigas

Market Cap: CL$537.5b

Engages in the distribution and sale of liquefied petroleum gas (LPG) and natural gas (NG) in Chile, Peru, and Colombia.

Conoil

Market Cap: ₦186.2b

Conoil Plc markets refined petroleum products, and manufactures and markets lubricants, household, and liquefied petroleum gas (LPG) in Nigeria.

Gulf Island Fabrication

Market Cap: US$109.3m

Operates as a fabricator of steel structures and modules in the United States.

Zhejiang Renzhi

Market Cap: CN¥2.7b

Provides professional services in the oil and gas drilling and engineering fields in China.

China Qinfa Group

Market Cap: HK$3.5b

An investment holding company, engages in the mining, purchase and sale, filtering, storage, and blending of coal in the People’s Republic of China and Indonesia.

Qinghai Jinrui Mining Development

Market Cap: CN¥3.2b

Produces and sells strontium salt products in China.

Shenzhen Guangju Energy

Market Cap: CN¥7.3b

Engages in the storage, transportation, and distribution of liquefied petroleum gas in China and internationally.

TotalEnergies EP Gabon Société Anonyme

Market Cap: €816.8m

Engages in the mining, exploration, and production of crude oil in Gabon.

San Juan Basin Royalty Trust

Market Cap: US$297.4m

Operates as an express trust in Texas.

Ratio Energies - Limited Partnership

Market Cap: ₪4.8b

Explores, develops, and produces oil and natural gas in Israel and internationally.

Meghna Petroleum

Market Cap: ৳21.9b

Engages in the procurement, storage, and marketing of petroleum products and lubricants, bitumen, liquefied petroleum gas (LPG), and battery water in Bangladesh.

Lake Area Corn Processors

Market Cap: US$162.9m

Through its subsidiary, Dakota Ethanol, L.L.C., owns and manages an ethanol plant in South Dakota.

Elridge Energy Holdings Berhad

Market Cap: RM 1.2b

An investment holding company, engages in the manufacture and trading of biomass fuel products in Malaysia, Singapore, Indonesia, Japan, and Thailand.

Michang Oil Ind

Market Cap: ₩169.2b

Engages in the petrochemical business in South Korea.

Ranger Energy Services

Market Cap: US$283.5m

Provides onshore high specification well service rigs, wireline services, and complementary services to exploration and production companies in the United States.

Permian Basin Royalty Trust

Market Cap: US$533.7m

Permian Basin Royalty Trust holds royalty interests in various oil and gas properties in the United States.

Equital

Market Cap: ₪4.8b

Through its subsidiaries, engages in the real estate, oil and gas, and residential construction businesses in Israel and internationally.

PHX Minerals

Market Cap: US$163.8m

Operates as a natural gas and oil mineral company in the United States.

Selan Exploration Technology

Market Cap: ₹10.7b

Explores for and produces crude oil and natural gas in India.

Kinetic Development Group

Market Cap: HK$9.7b

An investment holding company, engages in the extraction and sale of coal products in the People’s Republic of China.

Al Mahhar Holding Company Q.P.S.C

Market Cap: ر.ق488.7m

Engages in the energy and infrastructure business in Qatar and internationally.

REX American Resources

Market Cap: US$738.0m

Produces and sells ethanol in the United States.

Pulse Seismic

Market Cap: CA$146.7m

Acquires, markets, and licenses two-dimensional (2D) and three-dimensional (3D) seismic data for the energy sector in Canada.

Naturelgaz Sanayi ve Ticaret

Market Cap: ₺6.6b

Engages in the purchase, compression, transportation, and delivery of natural gas in Turkey.

Unit

Market Cap: US$273.9m

Engages in the exploration, acquisition, development, and production of oil and natural gas properties in the United States.

Jamuna Oil

Market Cap: ৳19.2b

Engages in marketing of refined petroleum oil, lubricants, gas, and bitumen in Bangladesh.

Baramulti Suksessarana

Market Cap: Rp10.7t

Engages in the coal mining, trading, and land transportation activities in Indonesia.

Xinjiang Hongtong Natural Gas

Market Cap: CN¥3.0b

Engages in the production, storage, transportation, and sales of liquefied natural gas and compressed natural gas in China.

Pryce

Market Cap: ₱21.9b

Engages in the import and distribution of liquefied petroleum gas (LPG) under the PryceGas brand name in the Philippines.