공고 • Feb 22
Razor Energy's Securities to be Delisted from NEX for Failure to Maintain Exchange Requirements, Effective February 24, 2025 Effective at the close of business on February 24, 2025, securities of Razor Energy Corp. (the ‘Company’) will be delisted from NEX, for failure to maintain Exchange Requirements. Prior to delisting, the shares of the Company were subject to suspension from trading. 공고 • Dec 27
Razor Energy Corp. Ceases Processing Razor’s Swan Hills Natural Gas Production Razor Energy Corp. announced that, as a result of financial disputes with the operator of the Judy Creek Gas Plant, the operator has restricted access and has ceased processing Razor’s Swan Hills natural gas production. Effective December 24th, 2023, a significant portion of Razor’s production has been shut-in indefinitely. At this time management estimates approximately 1,110 boepd, including 626 bblpd of light oil and 387 bblpd of natural gas liquids, has been curtailed. Razor continues to look at various commercial and legal options to remedy this situation and restore production. Razor anticipates that it will make further public comment when it determines that additional disclosure is required by law or is otherwise deemed appropriate. Reported Earnings • Nov 24
Third quarter 2023 earnings released: CA$0.12 loss per share (vs CA$0.35 loss in 3Q 2022) Third quarter 2023 results: CA$0.12 loss per share (improved from CA$0.35 loss in 3Q 2022). Revenue: CA$20.4m (down 28% from 3Q 2022). Net loss: CA$4.36m (loss narrowed 50% from 3Q 2022). Over the last 3 years on average, earnings per share has increased by 76% per year but the company’s share price has only increased by 35% per year, which means it is significantly lagging earnings growth. New Risk • Nov 09
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: €9.21m (US$9.87m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (12% average weekly change). High level of non-cash earnings (83% accrual ratio). Market cap is less than US$10m (€9.21m market cap, or US$9.87m). Minor Risks High level of debt (390% net debt to equity). Shareholders have been diluted in the past year (40% increase in shares outstanding). Board Change • Nov 01
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. No highly experienced directors. Independent Director Sean Phelan was the last director to join the board, commencing their role in 2020. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. 공고 • Oct 06
Razor Energy Corp., Annual General Meeting, Dec 14, 2023 Razor Energy Corp., Annual General Meeting, Dec 14, 2023. Reported Earnings • Sep 03
Second quarter 2023 earnings released: EPS: CA$2.14 (vs CA$0.093 loss in 2Q 2022) Second quarter 2023 results: EPS: CA$2.14 (up from CA$0.093 loss in 2Q 2022). Revenue: CA$19.1m (down 39% from 2Q 2022). Net income: CA$57.3m (up CA$59.6m from 2Q 2022). Over the last 3 years on average, earnings per share has increased by 78% per year but the company’s share price has only increased by 65% per year, which means it is significantly lagging earnings growth. 공고 • May 18
Razor Energy Corp. Provides Alberta Wildfire Update and Production Impact Razor Energy Corp. advised that, as a result of recent developments in the status of the Alberta wildfires, it has shut-in its operated and non-operated production in Kaybob and Swan Hills. The production impact is approximately 2,500 boe/d between the two areas. At this time it is unknown when this production will resume. Razor is not aware of any significant damage to the Company’s assets. Buying Opportunity • May 02
Now 27% undervalued after recent price drop Over the last 90 days, the stock is down 34%. The fair value is estimated to be €0.89, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 20% over the last 3 years. Meanwhile, the company became loss making. Reported Earnings • Nov 26
Third quarter 2022 earnings released: CA$0.35 loss per share (vs CA$0.46 profit in 3Q 2021) Third quarter 2022 results: CA$0.35 loss per share (down from CA$0.46 profit in 3Q 2021). Revenue: CA$28.4m (up 62% from 3Q 2021). Net loss: CA$8.79m (down 191% from profit in 3Q 2021). Over the last 3 years on average, earnings per share has increased by 83% per year but the company’s share price has only increased by 27% per year, which means it is significantly lagging earnings growth. Recent Insider Transactions • Nov 16
Founder & Director recently sold €167k worth of stock On the 8th of November, Frank Muller sold around 112k shares on-market at roughly €1.49 per share. This transaction amounted to 5.8% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Frank has been a net seller over the last 12 months, reducing personal holdings by €314k. Recent Insider Transactions • Nov 10
Founder & Director recently sold €102k worth of stock On the 2nd of November, Frank Muller sold around 74k shares on-market at roughly €1.38 per share. This transaction amounted to 3.7% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Frank has been a net seller over the last 12 months, reducing personal holdings by €147k. Valuation Update With 7 Day Price Move • Sep 01
Investor sentiment deteriorated over the past week After last week's 15% share price decline to €1.62, the stock trades at a trailing P/E ratio of 2x. Average trailing P/E is 18x in the Oil and Gas industry in Germany. Total returns to shareholders of 67% over the past three years. Reported Earnings • Aug 26
Second quarter 2022 earnings released: CA$0.09 loss per share (vs CA$0.26 loss in 2Q 2021) Second quarter 2022 results: CA$0.09 loss per share (up from CA$0.26 loss in 2Q 2021). Revenue: CA$32.4m (up 116% from 2Q 2021). Net loss: CA$2.28m (loss narrowed 59% from 2Q 2021). Over the last 3 years on average, earnings per share has increased by 67% per year but the company’s share price has only increased by 19% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Aug 13
Investor sentiment improved over the past week After last week's 19% share price gain to €1.69, the stock trades at a trailing P/E ratio of 2.6x. Average trailing P/E is 19x in the Oil and Gas industry in Germany. Total returns to shareholders of 69% over the past three years. Valuation Update With 7 Day Price Move • Jul 26
Investor sentiment deteriorated over the past week After last week's 16% share price decline to €1.35, the stock trades at a trailing P/E ratio of 2.1x. Average trailing P/E is 15x in the Oil and Gas industry in Germany. Total returns to shareholders of 22% over the past three years. Valuation Update With 7 Day Price Move • Jun 17
Investor sentiment deteriorated over the past week After last week's 24% share price decline to €1.93, the stock trades at a trailing P/E ratio of 2.9x. Average trailing P/E is 13x in the Oil and Gas industry in Germany. Total returns to shareholders of 75% over the past three years. Reported Earnings • May 28
First quarter 2022 earnings released: CA$0.03 loss per share (vs CA$0.27 loss in 1Q 2021) First quarter 2022 results: CA$0.03 loss per share (up from CA$0.27 loss in 1Q 2021). Revenue: CA$27.3m (up 97% from 1Q 2021). Net loss: CA$776.0k (loss narrowed 86% from 1Q 2021). Over the last 3 years on average, earnings per share has increased by 40% per year but the company’s share price has only increased by 16% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • May 11
Investor sentiment deteriorated over the past week After last week's 17% share price decline to €1.70, the stock trades at a trailing P/E ratio of 3.1x. Average trailing P/E is 18x in the Oil and Gas industry in Germany. Total returns to shareholders of 32% over the past three years. Valuation Update With 7 Day Price Move • Apr 20
Investor sentiment improved over the past week After last week's 19% share price gain to €2.38, the stock trades at a trailing P/E ratio of 4.2x. Average trailing P/E is 21x in the Oil and Gas industry in Germany. Total returns to shareholders of 57% over the past three years. Reported Earnings • Apr 14
Full year 2021 earnings released: EPS: CA$0.82 (vs CA$2.19 loss in FY 2020) Full year 2021 results: EPS: CA$0.82 (up from CA$2.19 loss in FY 2020). Revenue: CA$68.4m (up 41% from FY 2020). Net income: CA$17.7m (up CA$63.9m from FY 2020). Profit margin: 26% (up from net loss in FY 2020). Oil reserves Proven reserves: 10.146 MMbbls Gas reserves and sales price Proven reserves: 6.721 Bcf Average sales price/mcf: US$3.43 LNG reserves and sales price Proven reserves: 2.405 MMbbls Average sales price/bbl: US$31.18 Combined production and costs Oil equivalent production: 1.286 MMboe (1.381 MMboe in FY 2020) Average production cost/Boe: US$43.65 (US$27.77/Boe in FY 2020) Over the last 3 years on average, earnings per share has increased by 4% per year and the company’s share price has also increased by 4% per year. Recent Insider Transactions • Mar 24
Insider recently sold €49k worth of stock On the 17th of March, Stephen Sych sold around 23k shares on-market at roughly €2.09 per share. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of €142k more than they bought in the last 12 months. Recent Insider Transactions • Mar 22
Insider recently sold €49k worth of stock On the 17th of March, Stephen Sych sold around 23k shares on-market at roughly €2.09 per share. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of €142k more than they bought in the last 12 months. Recent Insider Transactions • Mar 21
Insider recently sold €49k worth of stock On the 17th of March, Stephen Sych sold around 23k shares on-market at roughly €2.09 per share. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of €142k more than they bought in the last 12 months. Reported Earnings • Nov 27
Third quarter 2021 earnings: Revenues and EPS in line with analyst expectations Third quarter 2021 results: EPS: CA$0.46 (up from CA$0.087 loss in 3Q 2020). Revenue: CA$17.8m (up 17% from 3Q 2020). Net income: CA$9.67m (up CA$11.5m from 3Q 2020). Profit margin: 54% (up from net loss in 3Q 2020). Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has fallen by 34% per year whereas the company’s share price has fallen by 38% per year. Reported Earnings • Aug 28
Second quarter 2021 earnings released: CA$0.26 loss per share (vs CA$0.19 loss in 2Q 2020) The company reported a solid second quarter result with improved revenues and control over costs, although losses increased. Second quarter 2021 results: Revenue: CA$14.5m (up 121% from 2Q 2020). Net loss: CA$5.54m (loss widened 36% from 2Q 2020). Over the last 3 years on average, earnings per share has fallen by 59% per year but the company’s share price has only fallen by 44% per year, which means it has not declined as severely as earnings. Reported Earnings • May 29
First quarter 2021 earnings released: CA$0.27 loss per share (vs CA$1.63 loss in 1Q 2020) The company reported a solid first quarter result with reduced losses, improved revenues and improved control over expenses. First quarter 2021 results: Revenue: CA$14.5m (up 3.5% from 1Q 2020). Net loss: CA$5.64m (loss narrowed 84% from 1Q 2020). Reported Earnings • Apr 17
Full year 2020 earnings released: CA$2.19 loss per share (vs CA$1.75 loss in FY 2019) The company reported a poor full year result with increased losses, weaker revenues and weaker control over costs. Full year 2020 results: Revenue: CA$52.1m (down 39% from FY 2019). Net loss: CA$46.2m (loss widened 56% from FY 2019). Reported Earnings • Nov 28
Third quarter 2020 earnings released: CA$0.09 loss per share The company reported a decent third quarter result with reduced losses and improved control over expenses, although revenues were weaker. Third quarter 2020 results: Revenue: CA$15.4m (down 15% from 3Q 2019). Net loss: CA$1.84m (loss narrowed 70% from 3Q 2019).