Global Energy Undervalued based on future growth

Pakistan State Oil

Market Cap: PK₨203.9b

Engages in the procurement, storage, distribution, and marketing of petroleum and related products in Pakistan.

Petroreconcavo

Market Cap: R$3.3b

Engages in the exploration and production of oil and natural gas in Brazil.

Petrovietnam Drilling and Well Services

Market Cap: ₫14.8t

Provides drilling rigs and drilling-related services to the oil and gas industry in the Socialist Republic of Vietnam and internationally.

ShaMaran Petroleum

Market Cap: CA$762.0m

Engages in the oil and gas exploration and production.

SBO

Market Cap: €453.1m

Manufactures and sells steel products worldwide.

Geo Energy Resources

Market Cap: S$644.5m

An investment holding company, engages in the mining, production, and trading of coal.

Surge Energy

Market Cap: CA$682.7m

Explores, develops, and produces oil and gas in western Canada.

Prima Marine

Market Cap: ฿14.0b

Provides marine transportation of petroleum and chemical products in Thailand, Singapore, and internationally.

Bumi Armada Berhad

Market Cap: RM 1.8b

An investment holding company, engages in providing marine transportation, floating production storage offloading (FPSO) operations, and engineering and maintenance services to offshore oil and gas companies.

VAALCO Energy

Market Cap: US$410.8m

An independent energy company, engages in the acquisition, exploration, development, and production of crude oil, natural gas, and natural gas liquids in Gabon, Egypt, Equatorial Guinea, Cote d'Ivoire, and Canada.

North American Construction Group

Market Cap: CA$548.0m

Provides mining and heavy civil construction services to customers in the resource development and industrial construction sectors in Australia, Canada, and the United States.

Oil States International

Market Cap: US$366.2m

Through its subsidiaries, provides engineered capital equipment and consumable products for energy, industrial, and military sectors worldwide.

Logan Energy

Market Cap: CA$500.4m

Engages in the exploration, development, and production of crude oil and natural gas properties.

Mattr

Market Cap: CA$495.5m

Operates as a materials technology company that serves the transportation, communication, water management, and energy and electrification markets in Canada, the United States, Latin America, Europe, the Middle East, Africa, and the Asia Pacific.

Petron

Market Cap: ₱20.5b

Operates as an oil refining and marketing company in the Philippines.

Anton Oilfield Services Group

Market Cap: HK$2.6b

An investment holding company, operates as an integrated oilfield technology services company in the People’s Republic of China, Iraq, and internationally.

E1

Market Cap: ₩468.3b

Imports, stores, trades, and sells liquefied petroleum gas (LPG) in South Korea.

Saturn Oil & Gas

Market Cap: CA$450.1m

Engages in the acquisition, exploration, and development of petroleum and natural gas resource deposits in Canada.

Hibiscus Petroleum Berhad

Market Cap: RM 1.1b

Engages in the exploration, development, and sale of oil and gas in Peninsular Malaysia, Sabah, Malaysia, the United Kingdom, Brunei, Australia, and Vietnam.

Gulf Marine Services

Market Cap: UK£176.7m

Operates self-propelled self-elevating support vessels (SESVs) in the United Arab Emirates, the Kingdom of Saudi Arabia, Qatar, and Europe.

Panoro Energy

Market Cap: NOK 2.3b

An independent exploration and production company, engages in the exploration, development, and production of oil and gas properties in Africa.

PHX Energy Services

Market Cap: CA$312.6m

Provides horizontal and directional drilling services, rents performance drilling motors, and sells motor equipment and parts to oil and natural gas exploration and development companies in Canada, the United States, Albania, the Middle East regions, and internationally.

Odfjell Technology

Market Cap: NOK 2.2b

Operates as a supplier of offshore operations, well services technology, and engineering solutions in Norway, the United Kingdom, rest of Europe, Kuwait, Malaysia, rest of Asia, and internationally.

Imperial Petroleum

Market Cap: US$204.1m

Provides seaborne transportation services worldwide.

Calfrac Well Services

Market Cap: CA$275.7m

Provides specialized oilfield services in Canada, the United States, and Argentina.

Mermaid Maritime

Market Cap: S$245.8m

Operates as a subsea and offshore services company in Thailand, Qatar, the United Arab Emirates, the United Kingdom, and Saudi Arabia.

Jadestone Energy

Market Cap: UK£128.2m

Operates as an independent oil and gas development and production company in in Australia, Malaysia, Indonesia, and Vietnam.

Alvopetro Energy

Market Cap: CA$224.8m

Engages in the acquisition, exploration, development, and production of hydrocarbons in Brazil and Canada.

Kolibri Global Energy

Market Cap: CA$197.3m

Engages in the exploration and exploitation of oil, gas, and clean and sustainable energy reserves in the United States.

Afentra

Market Cap: UK£102.2m

Operates as an upstream oil and gas company primarily in Africa.

BBGI

Market Cap: ฿4.2b

Manufactures and distributes biofuel and related products primarily in Thailand.

Finder Energy Holdings

Market Cap: AU$187.4m

Engages in the exploration of oil and gas properties.

Deleum Berhad

Market Cap: RM 493.9m

An investment holding company, provides products and services to the oil and gas industries primarily in Malaysia.

Wintermar Offshore Marine

Market Cap: Rp2.0t

Provides supporting services for the offshore transportation for the oil and gas industry in Indonesia, Malaysia, Brunei, Myanmar, Thailand, India, Vietnam, the Philippines, the Middle East, and Taiwan.

ABL Group

Market Cap: NOK 1.1b

An investment holding company, provides energy, and marine and engineering consultancy services to renewables, maritime, and oil and gas industries worldwide.

Source Energy Services

Market Cap: CA$146.5m

Engages in the production and distribution of frac sand used primarily in oil and gas exploration and production in Canada and the United States.