CONRAD ASIA ENERGY LIMITED (CRD)
Share Price Analysis and Chart

15/04/2025

1

Speculative Buy

$1.35

56.98%

Bell Potter lowers its oil price forecasts across 2025-2027 by -13%, -16% and -16%, respectively, to US$68/bbl, US$65/bbl, and US$68/bbl. The long-term (real) estimate is also reduced by -13% to US$70/bbl.

Sweeping changes to tariffs in the US, along with retaliatory measures from major economies, have significantly altered the global economic growth outlook, explains the broker, reducing expectations for future energy demand.

The target for Conrad Asia Energy is $1.35. Speculative Buy.

FORECAST
Bell Potter forecasts a full year FY25 dividend of 0.00 cents and EPS of minus -5.88 cents.
Bell Potter forecasts a full year FY26 dividend of 0.00 cents and EPS of minus -9.59 cents.

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21/07/2025

1

Speculative Buy

$1.60

86.05%

Following the Indonesian Ministry's directive in March to sell all gas domestically, Conrad Asia Energy signed an agreement for the sale and purchase of gas from the Mako gas field with PT PLN Energi Primer.

Canaccord Genuity notes the contract is for the sale of up to 117TJ/day and covers the current Duying production sharing contract period until January 2037.

The broker highlights the signing of the contract will allow the company to sell down an interest in Mako and achieve final investment decision for the project.

Speculative Buy. Target cut to $1.60 from $1.80 as the analyst delayed first production forecast by six months to 1H28.

FORECAST
Canaccord Genuity forecasts a full year FY25 dividend of 0.00 cents and EPS of minus -8.81 cents.
Canaccord Genuity forecasts a full year FY26 dividend of 0.00 cents and EPS of minus -6.18 cents.