Declared Dividend • May 21
Third quarter dividend of US$0.096 announced Shareholders will receive a dividend of US$0.096. Ex-date: 29th May 2026 Payment date: 29th June 2026 Dividend yield will be 6.4%, which is higher than the industry average of 4.5%. Sustainability & Growth The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. The company's earnings per share (EPS) would need to grow by 38% to bring the payout ratio under control, which is more than the 22% EPS growth achieved over the last 5 years. Duyuru • May 19
Marine Petroleum Trust Declares Second Quarter Cash Distribution, Payable on June 29, 2026 Marine Petroleum Trust declared a quarterly cash distribution to the holders of its units of beneficial interest of $0.096470 per unit, payable on June 29, 2026, to unitholders of record on May 29, 2026. This distribution of $0.096470 per unit is lower than the $0.101614 per unit distributed last quarter. Reported Earnings • May 17
Third quarter 2026 earnings released: EPS: US$0.067 (vs US$0.12 in 3Q 2025) Third quarter 2026 results: EPS: US$0.067 (down from US$0.12 in 3Q 2025). Revenue: US$232.9k (down 31% from 3Q 2025). Net income: US$134.1k (down 45% from 3Q 2025). Profit margin: 58% (down from 72% in 3Q 2025). The decrease in margin was primarily driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 29% per year but the company’s share price has only fallen by 12% per year, which means it has not declined as severely as earnings. Valuation Update With 7 Day Price Move • Mar 02
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to US$5.19, the stock trades at a trailing P/E ratio of 14.1x. Average trailing P/E is 14x in the Oil and Gas industry in the US. Total loss to shareholders of 11% over the past three years. New Risk • Feb 21
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of American stocks, typically moving 10% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Market cap is less than US$10m (US$9.82m market cap). Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (10% average weekly change). Revenue is less than US$5m (US$1.1m revenue). Declared Dividend • Feb 20
Second quarter dividend of US$0.10 announced Shareholders will receive a dividend of US$0.10. Ex-date: 27th February 2026 Payment date: 30th March 2026 Dividend yield will be 7.4%, which is higher than the industry average of 4.5%. Sustainability & Growth The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. Earnings per share has grown by 15% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Reported Earnings • Feb 16
Second quarter 2026 earnings released: EPS: US$0.096 (vs US$0.041 in 2Q 2025) Second quarter 2026 results: EPS: US$0.096 (up from US$0.041 in 2Q 2025). Revenue: US$268.2k (up 62% from 2Q 2025). Net income: US$191.8k (up 136% from 2Q 2025). Profit margin: 72% (up from 49% in 2Q 2025). The increase in margin was primarily driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 35% per year but the company’s share price has only fallen by 19% per year, which means it has not declined as severely as earnings. Valuation Update With 7 Day Price Move • Dec 18
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to US$4.98, the stock trades at a trailing P/E ratio of 15.9x. Average trailing P/E is 13x in the Oil and Gas industry in the US. Total loss to shareholders of 16% over the past three years. Declared Dividend • Nov 20
First quarter dividend reduced to US$0.049 Dividend of US$0.049 is 52% lower than last year. Ex-date: 28th November 2025 Payment date: 29th December 2025 Dividend yield will be 7.1%, which is higher than the industry average of 4.5%. Sustainability & Growth The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. The company's earnings per share (EPS) would need to grow by 38% to bring the payout ratio under control, which is more than the 5.8% EPS growth achieved over the last 5 years. Duyuru • Nov 18
Marine Petroleum Trust Announces Quarterly Cash Distribution, Payable on December 29, 2025 Marine Petroleum Trust declared a quarterly cash distribution to the holders of its units of beneficial interest of $0.049136 per unit, payable on December 29, 2025, to unitholders of record on November 28, 2025. This distribution of $0.049136 per unit is lower than the $0.068097 per unit distributed last quarter. Reported Earnings • Nov 16
First quarter 2026 earnings released: EPS: US$0.065 (vs US$0.12 in 1Q 2025) First quarter 2026 results: EPS: US$0.065 (down from US$0.12 in 1Q 2025). Revenue: US$223.4k (down 26% from 1Q 2025). Net income: US$130.8k (down 44% from 1Q 2025). Profit margin: 59% (down from 77% in 1Q 2025). The decrease in margin was primarily driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 37% per year but the company’s share price has only fallen by 23% per year, which means it has not declined as severely as earnings. Valuation Update With 7 Day Price Move • Oct 26
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to US$5.32, the stock trades at a trailing P/E ratio of 14.6x. Average trailing P/E is 13x in the Oil and Gas industry in the US. Total loss to shareholders of 31% over the past three years. Reported Earnings • Sep 30
Full year 2025 earnings released: EPS: US$0.36 (vs US$0.36 in FY 2024) Full year 2025 results: EPS: US$0.36 (up from US$0.36 in FY 2024). Revenue: US$1.04m (flat on FY 2024). Net income: US$728.0k (up 2.1% from FY 2024). Profit margin: 70% (up from 68% in FY 2024). Over the last 3 years on average, earnings per share has fallen by 32% per year but the company’s share price has only fallen by 16% per year, which means it has not declined as severely as earnings. Valuation Update With 7 Day Price Move • Aug 25
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to US$4.97, the stock trades at a trailing P/E ratio of 13.7x. Average trailing P/E is 13x in the Oil and Gas industry in the US. Total loss to shareholders of 32% over the past three years. Declared Dividend • Aug 21
Third quarter dividend of US$0.068 announced Shareholders will receive a dividend of US$0.068. Ex-date: 29th August 2025 Payment date: 29th September 2025 Dividend yield will be 8.5%, which is higher than the industry average of 4.5%. Sustainability & Growth The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. The company's earnings per share (EPS) would need to grow by 1.1% to bring the payout ratio under control, which is less than the 5.5% EPS growth achieved over the last 5 years. Duyuru • Aug 20
Marine Petroleum Trust Announces Quarterly Cash Distribution, Payable on September 29, 2025 Marine Petroleum Trust declared a quarterly cash distribution to the holders of its units of beneficial interest of $0.068097 per unit, payable on September 29, 2025, to unitholders of record on August 29, 2025. This distribution of $0.068097 per unit is lower than the $0.110983 per unit distributed last quarter. Valuation Update With 7 Day Price Move • Jun 30
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to US$4.41, the stock trades at a trailing P/E ratio of 12.1x. Average trailing P/E is 12x in the Oil and Gas industry in the US. Total loss to shareholders of 22% over the past three years. New Risk • Jun 18
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of American stocks, typically moving 13% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (13% average weekly change). Revenue is less than US$5m (US$1.0m revenue). Market cap is less than US$100m (US$14.2m market cap). Valuation Update With 7 Day Price Move • Jun 13
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to US$4.54, the stock trades at a trailing P/E ratio of 12.5x. Average trailing P/E is 13x in the Oil and Gas industry in the US. Total loss to shareholders of 8.9% over the past three years. Declared Dividend • May 21
Third quarter dividend of US$0.11 announced Shareholders will receive a dividend of US$0.11. Ex-date: 30th May 2025 Payment date: 30th June 2025 Dividend yield will be 10%, which is higher than the industry average of 4.5%. Sustainability & Growth The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. The company's earnings per share (EPS) would need to grow by 11% to bring the payout ratio under control, which is more than the 5.5% EPS growth achieved over the last 5 years. Duyuru • May 20
Marine Petroleum Trust Announces Quarterly Cash Distribution, Payable on June 30, 2025 Marine Petroleum Trust declared a quarterly cash distribution to the holders of its units of beneficial interest of $0.110983 per unit, payable on June 30, 2025, to unitholders of record on May 30, 2025. Reported Earnings • May 15
Third quarter 2025 earnings released: EPS: US$0.12 (vs US$0.058 in 3Q 2024) Third quarter 2025 results: EPS: US$0.12 (up from US$0.058 in 3Q 2024). Revenue: US$338.1k (up 37% from 3Q 2024). Net income: US$242.4k (up 110% from 3Q 2024). Profit margin: 72% (up from 47% in 3Q 2024). The increase in margin was primarily driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 25% per year whereas the company’s share price has fallen by 20% per year. Declared Dividend • Feb 20
Second quarter dividend reduced to US$0.077 Dividend of US$0.077 is 24% lower than last year. Ex-date: 28th February 2025 Payment date: 28th March 2025 Dividend yield will be 8.3%, which is higher than the industry average of 4.5%. Sustainability & Growth The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. The company's earnings per share (EPS) would need to grow by 30% to bring the payout ratio under control, which is more than the 3.2% EPS growth achieved over the last 5 years. Duyuru • Feb 19
Marine Petroleum Trust Announces First Quarter Cash Distribution, Payable on March 28, 2025 Marine Petroleum Trust declared a quarterly cash distribution to the holders of its units of beneficial interest of $0.077052 per unit, payable on March 28, 2025, to unitholders of record on February 28, 2025. This distribution of $0.077052 per unit is lower than the $0.102923 per unit distributed last quarter. The volumes of both oil and natural gas produced have decreased when compared to the previous quarter. Pricing for oil has decreased, while natural gas prices have increased as compared to last quarter. This distribution is lower than the $0.101611 per unit distributed in the comparable quarter in 2024. As compared to the same quarter in 2024, there was a decrease in the volume of oil produced while the volume of natural gas increased. As compared to the same quarter in 2024, prices realized for both oil and natural gas have decreased. Reported Earnings • Feb 14
Second quarter 2025 earnings released: EPS: US$0.041 (vs US$0.10 in 2Q 2024) Second quarter 2025 results: EPS: US$0.041 (down from US$0.10 in 2Q 2024). Revenue: US$165.9k (down 37% from 2Q 2024). Net income: US$81.1k (down 59% from 2Q 2024). Profit margin: 49% (down from 76% in 2Q 2024). The decrease in margin was primarily driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 14% per year but the company’s share price has only fallen by 5% per year, which means it has not declined as severely as earnings. Valuation Update With 7 Day Price Move • Jan 28
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to US$3.96, the stock trades at a trailing P/E ratio of 11x. Average trailing P/E is 12x in the Oil and Gas industry in the US. Total returns to shareholders of 13% over the past three years. Declared Dividend • Nov 21
First quarter dividend of US$0.10 announced Shareholders will receive a dividend of US$0.10. Ex-date: 29th November 2024 Payment date: 30th December 2024 Dividend yield will be 8.9%, which is higher than the industry average of 4.5%. Sustainability & Growth The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. The company's earnings per share (EPS) would need to grow by 4.2% to bring the payout ratio under control, which is less than the 5.6% EPS growth achieved over the last 5 years. Duyuru • Nov 19
Marine Petroleum Trust Announces Fourth Quarter Cash Distribution, Payable on December 30, 2024 Marine Petroleum Trust declared a quarterly cash distribution to the holders of its units of beneficial interest of $0.102923 per unit, payable on December 30, 2024, to unitholders of record on November 29, 2024. This distribution of $0.102923 per unit is higher than the $0.094886 per unit distributed last quarter. Reported Earnings • Nov 14
First quarter 2025 earnings released: EPS: US$0.12 (vs US$0.11 in 1Q 2024) First quarter 2025 results: EPS: US$0.12 (up from US$0.11 in 1Q 2024). Revenue: US$302.2k (flat on 1Q 2024). Net income: US$233.6k (up 2.4% from 1Q 2024). Profit margin: 77% (up from 75% in 1Q 2024). Over the last 3 years on average, earnings per share has increased by 2% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings. Reported Earnings • Oct 01
Full year 2024 earnings released: EPS: US$0.36 (vs US$0.69 in FY 2023) Full year 2024 results: EPS: US$0.36 (down from US$0.69 in FY 2023). Revenue: US$1.04m (down 37% from FY 2023). Net income: US$713.2k (down 48% from FY 2023). Profit margin: 68% (down from 83% in FY 2023). The decrease in margin was primarily driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 18% per year but the company’s share price has fallen by 11% per year, which means it is significantly lagging earnings. New Risk • Sep 16
New major risk - Financial data availability The company has not reported any financial data. This is considered a major risk. With no or incomplete audited reported financial data, it is virtually impossible to assess the company's investment potential. Currently, the following risks have been identified for the company: Major Risks No financial data reported. Market cap is less than US$10m (US$7.94m market cap). Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Declared Dividend • Aug 22
Third quarter dividend of US$0.095 announced Shareholders will receive a dividend of US$0.095. Ex-date: 30th August 2024 Payment date: 30th September 2024 Dividend yield will be 8.4%, which is higher than the industry average of 4.5%. Sustainability & Growth The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. The company's earnings per share (EPS) would need to grow by 16% to bring the payout ratio under control, which is more than the 3.7% EPS growth achieved over the last 5 years. Duyuru • Aug 20
Marine Petroleum Trust Announces Third Quarter Cash Distribution, Payable on September 30, 2024 Marine Petroleum Trust declared a quarterly cash distribution to the holders of its units of beneficial interest of $0.094886 per unit, payable on September 30, 2024, to unitholders of record on August 30, 2024. Duyuru • May 23
Marine Petroleum Trust Announces Second Quarter Cash Distribution, Payable on June 28, 2024 Marine Petroleum Trust declared a quarterly cash distribution to the holders of its units of beneficial interest of $0.055961 per unit, payable on June 28, 2024, to unitholders of record on May 31, 2024. This distribution of $0.055961 per unit is lower than the $0.101611 per unit distributed last quarter. Declared Dividend • May 22
Second quarter dividend of US$0.056 announced Shareholders will receive a dividend of US$0.056. Ex-date: 31st May 2024 Payment date: 28th June 2024 Dividend yield will be 8.4%, which is higher than the industry average of 4.5%. Sustainability & Growth The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. The company's earnings per share (EPS) would need to grow by 17% to bring the payout ratio under control, which is more than the 3.8% EPS growth achieved over the last 5 years. Valuation Update With 7 Day Price Move • Apr 20
Investor sentiment deteriorates as stock falls 21% After last week's 21% share price decline to US$4.26, the stock trades at a trailing P/E ratio of 9.5x. Average trailing P/E is 9x in the Oil and Gas industry in the US. Total returns to shareholders of 29% over the past three years. Valuation Update With 7 Day Price Move • Apr 05
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to US$4.82, the stock trades at a trailing P/E ratio of 10.7x. Average trailing P/E is 10x in the Oil and Gas industry in the US. Total returns to shareholders of 27% over the past three years. Upcoming Dividend • Feb 21
Upcoming dividend of US$0.10 per share Eligible shareholders must have bought the stock before 28 February 2024. Payment date: 28 March 2024. Trailing yield: 19%. Within top quartile of American dividend payers (4.7%). Higher than average of industry peers (4.4%). Declared Dividend • Feb 19
Second quarter dividend of US$0.10 announced Shareholders will receive a dividend of US$0.10. Ex-date: 28th February 2024 Payment date: 28th March 2024 Dividend yield will be 10.0%, which is higher than the industry average of 4.5%. Sustainability & Growth The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. The company's earnings per share (EPS) would need to grow by 17% to bring the payout ratio under control, which is more than the 3.8% EPS growth achieved over the last 5 years. Duyuru • Feb 16
Marine Petroleum Trust Declares First Quarter Cash Dividend, Payable on March 28, 2024 Marine Petroleum Trust declared a quarterly cash distribution to the holders of its units of beneficial interest of $0.101611 per unit, payable on March 28, 2024, to unitholders of record on February 29, 2024. Reported Earnings • Feb 16
Second quarter 2024 earnings released: EPS: US$0.10 (vs US$0.19 in 2Q 2023) Second quarter 2024 results: EPS: US$0.10 (down from US$0.19 in 2Q 2023). Revenue: US$262.9k (down 40% from 2Q 2023). Net income: US$199.2k (down 47% from 2Q 2023). Profit margin: 76% (down from 87% in 2Q 2023). The decrease in margin was primarily driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 46% per year but the company’s share price has fallen by 11% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Jan 05
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to US$4.65, the stock trades at a trailing P/E ratio of 8.6x. Average trailing P/E is 8x in the Oil and Gas industry in the US. Total returns to shareholders of 58% over the past three years. Upcoming Dividend • Nov 22
Upcoming dividend of US$0.084 per share at 17% yield Eligible shareholders must have bought the stock before 29 November 2023. Payment date: 28 December 2023. Trailing yield: 17%. Within top quartile of American dividend payers (4.9%). Higher than average of industry peers (4.5%). Duyuru • Nov 18
Marine Petroleum Trust Declares Fourth Quarter Cash Distribution, Payable on December 28, 2023 Marine Petroleum Trust declared a quarterly cash distribution to the holders of its units of beneficial interest of $0.083661 per unit, payable on December 28, 2023, to unitholders of record on November 30, 2023. This distribution of $0.083661 per unit is lower than the $0.121831 per unit distributed last quarter. This distribution is lower than the $0.244387 per unit distributed in the comparable quarter in 2022. Reported Earnings • Nov 16
First quarter 2024 earnings released: EPS: US$0.11 (vs US$0.26 in 1Q 2023) First quarter 2024 results: EPS: US$0.11 (down from US$0.26 in 1Q 2023). Revenue: US$304.7k (down 49% from 1Q 2023). Net income: US$228.1k (down 56% from 1Q 2023). Profit margin: 75% (down from 87% in 1Q 2023). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 55% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth. Reported Earnings • Sep 27
Full year 2023 earnings released: EPS: US$0.69 (vs US$0.60 in FY 2022) Full year 2023 results: EPS: US$0.69 (up from US$0.60 in FY 2022). Revenue: US$1.65m (up 14% from FY 2022). Net income: US$1.38m (up 14% from FY 2022). Profit margin: 83% (in line with FY 2022). Over the last 3 years on average, earnings per share has increased by 58% per year but the company’s share price has only increased by 42% per year, which means it is significantly lagging earnings growth. Buying Opportunity • Sep 18
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 18%. The fair value is estimated to be US$6.50, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 46% over the last 3 years. Earnings per share has grown by 56%. Buying Opportunity • Aug 31
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 32%. The fair value is estimated to be US$6.48, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 46% over the last 3 years. Earnings per share has grown by 56%. Duyuru • Aug 22
Marine Petroleum Trust Announces Cash Distribution for Third Quarter 2023, Payable on September 28, 2023 Marine Petroleum Trust declared a quarterly cash distribution to the holders of its units of beneficial interest of $0.121831 per unit, payable on September 28, 2023, to unitholders of record on August 31, 2023. This distribution of $0.121831 per unit is slightly higher than the $0.110168 per unit distributed last quarter. This quarter, volumes of both oil and natural gas produced and included in this distribution have increased while the price realized for both oil and natural gas have decreased. This distribution is lower than the $0.261822 per unit distributed in the comparable quarter in 2022. As compared to the comparable quarter in 2022, the volumes of both oil and natural gas produced and included in this distribution and prices realized for both oil and natural gas have decreased when compared to this time last year. Valuation Update With 7 Day Price Move • Jul 26
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to US$5.68, the stock trades at a trailing P/E ratio of 7.3x. Average trailing P/E is 6x in the Oil and Gas industry in the US. Total returns to shareholders of 248% over the past three years. New Risk • Jun 29
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: US$9.86m 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 Risk Market cap is less than US$10m (US$9.86m market cap). Minor Risks Dividend is not well covered by earnings (111% payout ratio). Revenue is less than US$5m (US$1.8m revenue). Valuation Update With 7 Day Price Move • Jun 26
Investor sentiment deteriorates as stock falls 21% After last week's 21% share price decline to US$5.12, the stock trades at a trailing P/E ratio of 6.6x. Average trailing P/E is 5x in the Oil and Gas industry in the US. Total returns to shareholders of 249% over the past three years. Upcoming Dividend • May 23
Upcoming dividend of US$0.11 per share at 6.5% yield Eligible shareholders must have bought the stock before 30 May 2023. Payment date: 28 June 2023. Trailing yield: 6.5%. Within top quartile of American dividend payers (5.1%). Higher than average of industry peers (4.8%). Duyuru • May 20
Marine Petroleum Trust Announces Second Quarter Cash Distribution, Payable on June 28, 2023 Marine Petroleum Trust declared a quarterly cash distribution to the holders of its units of beneficial interest of $0.110168 per unit, payable on June 28, 2023, to unitholders of record on May 31, 2023. Valuation Update With 7 Day Price Move • Apr 03
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to US$8.50, the stock trades at a trailing P/E ratio of 9.9x. Average trailing P/E is 6x in the Oil and Gas industry in the US. Total returns to shareholders of 820% over the past three years. Duyuru • Feb 18
Marine Petroleum Trust Announces First Quarter Cash Distribution, Payable on March 28, 2023 Marine Petroleum Trust declared a quarterly cash distribution to the holders of its units of beneficial interest of $0.159312 per unit, payable on March 28, 2023, to unitholders of record on February 28, 2023. This distribution of $0.159312 per unit is lower than the $0.244387 per unit distributed last quarter. This quarter, volumes of both oil and natural gas produced and included in this distribution and the price realized for oil have decreased while the price realized for natural gas slightly increased. This distribution is higher than the $0.107485 per unit distributed in the comparable quarter in 2022. Valuation Update With 7 Day Price Move • Nov 22
Investor sentiment deteriorated over the past week After last week's 16% share price decline to US$8.61, the stock trades at a trailing P/E ratio of 14.3x. Average trailing P/E is 8x in the Oil and Gas industry in the US. Total returns to shareholders of 424% over the past three years. Duyuru • Nov 19
Marine Petroleum Trust Announces Decrease in Fourth Quarter Cash Distribution, Payable on December 28, 2022 Marine Petroleum Trust declared a quarterly cash distribution to the holders of its units of beneficial interest of $0.244387 per unit, payable on December 28, 2022, to unitholders of record on November 30, 2022. This distribution of $0.244387 per unit is lower than the $0.261822 per unit distributed last quarter. Volumes of both oil and natural gas produced this quarter decreased while the price realized on both oil and natural gas and included in this distribution have increased. This distribution is higher than the $0.106743 per unit distributed in the comparable quarter in 2021. As compared to the comparable quarter in 2021, the volume of oil produced and the price realized for both oil and natural gas have increased while the volume of natural gas produced and included in the current distribution decreased. Valuation Update With 7 Day Price Move • Oct 25
Investor sentiment improved over the past week After last week's 21% share price gain to US$10.13, the stock trades at a trailing P/E ratio of 16.8x. Average trailing P/E is 10x in the Oil and Gas industry in the US. Total returns to shareholders of 478% over the past three years. Reported Earnings • Sep 02
Full year 2022 earnings released: EPS: US$0.60 (vs US$0.081 in FY 2021) Full year 2022 results: EPS: US$0.60 (up from US$0.081 in FY 2021). Revenue: US$1.44m (up 273% from FY 2021). Net income: US$1.20m (up US$1.04m from FY 2021). Profit margin: 84% (up from 42% in FY 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has increased by 56% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Aug 23
Investor sentiment improved over the past week After last week's 20% share price gain to US$8.60, the stock trades at a trailing P/E ratio of 19.5x. Average trailing P/E is 10x in the Oil and Gas industry in the US. Total returns to shareholders of 341% over the past three years. Duyuru • Aug 20
Marine Petroleum Trust Announces Third Quarter Cash Distribution Payable on September 28, 2022 Marine Petroleum Trust declares a quarterly cash distribution to the holders of its units of beneficial interest of $0.261822 per unit, payable on September 28, 2022, to unitholders of record on August 31, 2022. Valuation Update With 7 Day Price Move • Jun 15
Investor sentiment deteriorated over the past week After last week's 27% share price decline to US$7.09, the stock trades at a trailing P/E ratio of 16.1x. Average trailing P/E is 13x in the Oil and Gas industry in the US. Total returns to shareholders of 284% over the past three years. Valuation Update With 7 Day Price Move • May 31
Investor sentiment improved over the past week After last week's 21% share price gain to US$8.82, the stock trades at a trailing P/E ratio of 20x. Average trailing P/E is 14x in the Oil and Gas industry in the US. Total returns to shareholders of 345% over the past three years. Duyuru • May 21
Marine Petroleum Trust Announces Second Quarter Cash Distribution, Payable on June 28, 2022 Marine Petroleum Trust declared a quarterly cash distribution to the holders of its units of beneficial interest of $0.197500 per unit, payable on June 28, 2022, to unitholders of record on May 31, 2022. Reported Earnings • May 17
Third quarter 2022 earnings released: EPS: US$0.19 (vs US$0.006 in 3Q 2021) Third quarter 2022 results: EPS: US$0.19 (up from US$0.006 in 3Q 2021). Revenue: US$464.3k (up 462% from 3Q 2021). Net income: US$386.1k (up US$374.9k from 3Q 2021). Profit margin: 83% (up from 14% in 3Q 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 9% per year but the company’s share price has increased by 46% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Apr 14
Investor sentiment improved over the past week After last week's 20% share price gain to US$9.61, the stock trades at a trailing P/E ratio of 37.8x. Average trailing P/E is 15x in the Oil and Gas industry in the US. Total returns to shareholders of 432% over the past three years. Valuation Update With 7 Day Price Move • Mar 22
Investor sentiment improved over the past week After last week's 23% share price gain to US$13.79, the stock trades at a trailing P/E ratio of 54.3x. Average trailing P/E is 15x in the Oil and Gas industry in the US. Total returns to shareholders of 611% over the past three years. Valuation Update With 7 Day Price Move • Mar 05
Investor sentiment improved over the past week After last week's 43% share price gain to US$7.13, the stock trades at a trailing P/E ratio of 28.1x. Average trailing P/E is 15x in the Oil and Gas industry in the US. Total returns to shareholders of 294% over the past three years. Duyuru • Feb 18
Marine Petroleum Trust Declares Quarterly Cash Distribution, Payable on March 28, 2022 Marine Petroleum Trust declared a quarterly cash distribution to the holders of its units of beneficial interest of $0.107485 per unit, payable on March 28, 2022, to unitholders of record on February 28, 2022. Reported Earnings • Feb 16
Second quarter 2022 earnings: Revenues and EPS in line with analyst expectations Second quarter 2022 results: EPS: US$0.091 (up from US$0.002 in 2Q 2021). Revenue: US$264.7k (up 161% from 2Q 2021). Net income: US$181.4k (up US$176.5k from 2Q 2021). Profit margin: 69% (up from 4.9% in 2Q 2021). The increase in margin was primarily driven by higher revenue. Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has fallen by 29% per year but the company’s share price has increased by 24% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Jan 31
Investor sentiment improved over the past week After last week's 25% share price gain to US$5.39, the stock trades at a trailing P/E ratio of 32.5x. Average trailing P/E is 17x in the Oil and Gas industry in the US. Total returns to shareholders of 230% over the past three years. Reported Earnings • Nov 18
First quarter 2022 earnings released: EPS US$0.10 (vs US$0.017 in 1Q 2021) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2022 results: Revenue: US$229.3k (up 327% from 1Q 2021). Net income: US$203.2k (up US$170.2k from 1Q 2021). Profit margin: 89% (up from 62% in 1Q 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 34% per year but the company’s share price has increased by 16% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Oct 05
Investor sentiment improved over the past week After last week's 44% share price gain to US$6.13, the stock trades at a trailing P/E ratio of 75.9x. Average trailing P/E is 20x in the Oil and Gas industry in the US. Total returns to shareholders of 136% over the past three years. Reported Earnings • Sep 25
Full year 2021 earnings released: EPS US$0.081 (vs US$0.29 in FY 2020) The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2021 results: Revenue: US$386.8k (down 51% from FY 2020). Net income: US$161.6k (down 72% from FY 2020). Profit margin: 42% (down from 73% in FY 2020). The decrease in margin was primarily driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 32% per year but the company’s share price has increased by 4% per year, which means it is well ahead of earnings. Upcoming Dividend • Aug 23
Upcoming dividend of US$0.064 per share Eligible shareholders must have bought the stock before 30 August 2021. Payment date: 28 September 2021. Trailing yield: 2.4%. Lower than top quartile of American dividend payers (3.6%). Lower than average of industry peers (5.4%). Duyuru • May 19
Marine Petroleum Trust Declares Quarterly Cash Distribution, Payable on June 28, 2021 Marine Petroleum Trust declared a quarterly cash distribution to the holders of its units of beneficial interest of $0.028228 per unit, payable on June 28, 2021, to unitholders of record on May 28, 2021. Reported Earnings • May 19
Third quarter 2021 earnings released: EPS US$0.006 (vs US$0.075 in 3Q 2020) The company reported a poor third quarter result with weaker earnings, revenues and profit margins. Third quarter 2021 results: Revenue: US$82.6k (down 62% from 3Q 2020). Net income: US$11.2k (down 93% from 3Q 2020). Profit margin: 14% (down from 69% in 3Q 2020). The decrease in margin was primarily driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 25% per year but the company’s share price has increased by 6% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Mar 05
Investor sentiment deteriorated over the past week After last week's 19% share price decline to US$4.44, the stock is trading at a trailing P/E ratio of 24.1x, down from the previous P/E ratio of 29.7x. This compares to an average P/E of 12x in the Oil and Gas industry in the US. Total returns to shareholders over the past three years are 72%. Reported Earnings • Feb 18
Second quarter 2021 earnings released: EPS US$0.002 (vs US$0.054 in 2Q 2020) The company reported a poor second quarter result with weaker earnings, revenues and profit margins. Second quarter 2021 results: Revenue: US$101.5k (down 30% from 2Q 2020). Net income: US$5.0k (down 95% from 2Q 2020). Profit margin: 4.9% (down from 75% in 2Q 2020). The decrease in margin was primarily driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 18% per year but the company’s share price has increased by 15% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Jan 29
Investor sentiment improved over the past week After last week's 128% share price gain to US$8.98, the stock is trading at a trailing P/E ratio of 38.1x, up from the previous P/E ratio of 16.7x. This compares to an average P/E of 10x in the Oil and Gas industry in the US. Total returns to shareholders over the past three years are 175%. Is New 90 Day High Low • Jan 23
New 90-day high: US$3.99 The company is up 40% from its price of US$2.85 on 23 October 2020. The American market is up 15% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Oil and Gas industry, which is up 35% over the same period. Valuation Update With 7 Day Price Move • Jan 05
Investor sentiment improved over the past week After last week's 22% share price gain to US$3.85, the stock is trading at a trailing P/E ratio of 16.3x, up from the previous P/E ratio of 13.4x. This compares to an average P/E of 9x in the Oil and Gas industry in the US. Total returns to shareholders over the past three years are 34%. Valuation Update With 7 Day Price Move • Dec 23
Investor sentiment deteriorated over the past week After last week's 23% share price decline to US$2.91, the stock is trading at a trailing P/E ratio of 12.3x, down from the previous P/E ratio of 16x. This compares to an average P/E of 9x in the Oil and Gas industry in the US. Total returns to shareholders over the past three years are 15%. Valuation Update With 7 Day Price Move • Dec 16
Investor sentiment improved over the past week After last week's 17% share price gain to US$3.77, the stock is trading at a trailing P/E ratio of 16x, up from the previous P/E ratio of 13.6x. This compares to an average P/E of 9x in the Oil and Gas industry in the US. Total returns to shareholders over the past three years are 59%. Reported Earnings • Nov 19
First quarter 2021 earnings released: EPS US$0.017 The company reported a poor first quarter result with weaker earnings, revenues and profit margins. First quarter 2021 results: Revenue: US$53.7k (down 74% from 1Q 2020). Net income: US$33.0k (down 76% from 1Q 2020). Profit margin: 62% (down from 67% in 1Q 2020). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 14% per year but the company’s share price has only fallen by 2% per year, which means it has not declined as severely as earnings. Valuation Update With 7 Day Price Move • Oct 31
Market bids up stock over the past week After last week's 17% share price gain to US$3.33, the stock is trading at a trailing P/E ratio of 11.6x, up from the previous P/E ratio of 9.9x. This compares to an average P/E of 7x in the Oil and Gas industry in the US. Total returns to shareholders over the past three years are 17%. Valuation Update With 7 Day Price Move • Oct 20
Market bids up stock over the past week After last week's 82% share price gain to US$4.40, the stock is trading at a trailing P/E ratio of 15.3x, up from the previous P/E ratio of 8.4x. This compares to an average P/E of 8x in the Oil and Gas industry in the US. Total returns to shareholders over the past three years are 59%. Is New 90 Day High Low • Oct 09
New 90-day high: US$3.75 The company is up 118% from its price of US$1.72 on 10 July 2020. The American market is up 9.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Oil and Gas industry, which is down 10.0% over the same period. Reported Earnings • Sep 30
Full year earnings released - EPS US$0.29 Over the last 12 months the company has reported total profits of US$574.1k, down 9.3% from the prior year. Total revenue was US$788.2k over the last 12 months, down 8.4% from the prior year. Profit margins were 73%, which is lower than the 74% margin from last year. The decrease in margin was driven by lower revenue.