ShaMaran Petroleum Valuation

Q: What is the Fair Price of 0VH4 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

0VH4 (CA$0.09) is trading below our estimate of [[fair value]] (CA$0.52)

Is 0VH4 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

2/6

Valuation Score 2/6

Below Fair Value
Significantly Below Fair Value
Price-To-Sales vs Peers
Price-To-Sales vs Industry
Price-To-Sales vs Fair Ratio
Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of 0VH4 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: 0VH4 (CA$0.09) is trading below our estimate of fair value (CA$0.52)

Significantly Below Fair Value: 0VH4 is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 0VH4?

Key metric: As 0VH4 is unprofitable we use its Price-To-Sales Ratio for relative valuation analysis.

The above table shows the Price to Sales ratio for 0VH4. This is calculated by dividing 0VH4's market cap by their current revenue.
What is 0VH4's PS Ratio?
PS Ratio	1.9x
Sales	US$78.18m
Market Cap	US$146.32m

0VH4 key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue	4.1x
Enterprise Value/EBITDA	6.3x
PEG Ratio	n/a

Price to Sales Ratio vs Peers

How does 0VH4's PS Ratio compare to its peers?

The above table shows the PS ratio for 0VH4 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
Company	Forward PS	Estimated Growth	Market Cap
Peer Average	0.8x
JSE Jadestone Energy	0.4x	2.8%	UK£128.7m
PHAR Pharos Energy	0.9x	-8.0%	UK£95.3m
KIST Kistos Holdings	0.5x	20.1%	UK£89.1m
ENW Enwell Energy	1.3x	-116.6%	UK£50.5m
0VH4 ShaMaran Petroleum	1.9x	28.6%	CA$198.5m

Price-To-Sales vs Peers: 0VH4 is expensive based on its Price-To-Sales Ratio (1.9x) compared to the peer average (0.8x).

Price to Sales Ratio vs Industry

How does 0VH4's PS Ratio compare vs other companies in the GB Oil and Gas Industry?

11 Companies	Price / Sales	Estimated Growth	Market Cap
ROSN Rosneft Oil	0.1x	n/a	US$21.03b
TLW Tullow Oil	0.3x	-6.1%	US$420.91m
ENQ EnQuest	0.2x	-9.7%	US$281.27m
NWF NWF Group	0.08x	4.8%	US$90.36m

11 Companies		Estimated Growth	Market Cap

No more companies

Price-To-Sales vs Industry: 0VH4 is expensive based on its Price-To-Sales Ratio (1.9x) compared to the UK Oil and Gas industry average (1.2x).

Price to Sales Ratio vs Fair Ratio

What is 0VH4's PS Ratio compared to its Fair PS Ratio? This is the expected PS Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

0VH4 PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio	1.9x
Fair PS Ratio	n/a

Price-To-Sales vs Fair Ratio: Insufficient data to calculate 0VH4's Price-To-Sales Fair Ratio for valuation analysis.

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

Analyst Forecast: Insufficient data to show price forecast.

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