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Home CompaniesMeren Energy Inc.

Meren Energy Inc.

Energy Oil & Gas E&P
PortfolioPortfolio WatchlistWatchlist
Company price
1.925 CAD -0.07 ( 3.75%)
Last update at 2026-11-04T16:42:00Z
VOLUME
761340
Market Cap
1629.44M

Momentum Score

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Meren Energy Inc., together with its subsidiaries, operates as an oil and gas exploration and production company in Nigeria, Namibia, South Africa, and Equatorial Guinea. The company holds interests in producing and development assets in deepwater Nigeria. It also has a portfolio of development and exploration assets in the west and south of Africa. Meren Energy Inc. was formerly known as Africa Oil Corp. and changed its name to Meren Energy Inc. in May 2025. The company was incorporated in 1993 and is based in Vancouver, Canada.

Source: TradingView
The charts and visual representations are sourced from TradingView through embedded widgets. For any issues with chart display, please visit the TradingView website

Day Price Range
1.92
Low
1.99
High
52 Week Price Range
1.48
Low
2.58
High

Momentum Score

…
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A unique technical analysis driven score developed by Kalkine showing momentum in stock prices based on select technical indicators identified.

Score - Rating
>= 1 - Low / > 1 but < 2 - Below Average / > 2 but < 3 - Average / > 3 but < 4 - Above Average / > 4 - High
AI Summary

Public information on Meren Energy Inc. (MER.TO) is limited and company disclosures provide few verifiable details about operations, assets or strategy. Investors may find speculative upside if future reporting reveals attractive assets or a clear growth plan, but any thesis depends on improved transparency.

Key risks include lack of transparent disclosure and thin liquidity, which make it difficult to assess asset quality, financial condition and execution risk and could cause large share-price volatility.

Risk Score
High

Note: The summary and risk score provided above is created by AI and should not be construed as a recommendation of Kalkine.

Key Metrics*

Previous Close
2.00
Dividend Yield
6.24%
Revenue TTM
562.10M
Revenue Per Share
0.90
Gross Profit TTM
349.20M
Debt / Equity
0.44
ROE
-4.81%
Net Debt
161.71M
ROCE
6.02%
Diluted EPS TTM
-0.07

Key Financials*

Income Statement

Balance Sheet

Change in Cash

Total Operating Cash

Dividends Paid

Breakdown 2025-12-31 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Type yearly yearly yearly yearly yearly
Date 2025-12-31 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Income before tax 12.01M -279.10M 87.10M -60.30M 190.72M
Net income -32.15M -279.10M 87.10M -60.30M 190.70M
Selling general administrative 36.40M 32.40M 31.90M 27.00M 18.02M
Gross profit 131.05M - - - -
Reconciled depreciation 209.00M - - - -
Ebit 95.14M - - - -18.00M
Ebitda 317.16M - - - 197.60M
Depreciation and amortization 222.02M - - - 215.60M
Operating income 95.14M -281.80M 86.90M -59.20M 208.85M
Other operating expenses 474.56M - - - 18.02M
Interest expense 39.28M 187.30M 181.00M 138.40M 18.27M
Tax provision 43.40M - - - -
Interest income 4.10M 2.70M 0.20M 1.10M -
Net interest income -43.70M - - - -
Income tax expense 44.16M - - - 245.00M
Total revenue 569.70M 0.00M 0.00M 0.00M -
Total operating expenses 35.92M - - - 18.02M
Cost of revenue 438.65M - - - -
Total other income expense net -83.13M - - - -18.20M
Net income from continuing ops -31.60M - - - -
Net income applicable to common shares - -279.10M 87.10M -60.30M -
Breakdown 2025-12-31 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Type yearly yearly yearly yearly yearly
Date 2025-12-31 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Total assets 1948.35M 615.20M 966.20M 917.70M 991.62M
Intangible assets - - - - 0.19M
Other current assets 4.69M 7.00M - 0.40M -0.39M
Total liab 1183.84M 66.40M 71.60M 87.10M 43.56M
Total stockholder equity 764.51M 548.80M 894.60M 830.60M 948.06M
Other current liab 174.78M - - - 6.96M
Common stock 1533.40M 1195.80M 1265.30M 1267.70M 1309.13M
Capital stock 1536.20M - - - -
Retained earnings -864.22M -734.00M -432.30M -496.30M -412.21M
Cash 174.38M - - - 58.51M
Cash and equivalents - 61.40M 232.00M 199.30M -
Total current liabilities 367.03M 14.60M 22.40M 44.50M 7.62M
Net debt 161.71M - - - -58.51M
Short term debt 68.48M 0.00M 0.00M 0.00M -
Short long term debt total 336.09M - - - -
Other stockholder equity 95.33M - - 0.00M 51.16M
Property plant equipment - 32.50M 19.10M 63.60M -
Total current assets 348.17M 76.70M 237.10M 201.10M 59.54M
Long term investments 142.20M - - - -
Net receivables 75.06M 4.00M 5.10M 1.40M 0.66M
Long term debt 262.30M - - 0.00M -
Inventory 94.03M - - - -
Accounts payable 123.77M - - - 0.66M
Non currrent assets other 43.62M - - - -0.93M
Non current assets total 1600.18M - - - 932.08M
Capital lease obligations 3.80M - - - -
Long term debt total - 2.60M 0.00M 0.00M -
Breakdown 2025-12-31 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Type yearly yearly yearly yearly yearly
Date 2025-12-31 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Total cashflows from investing activities 314.31M -61.30M 114.70M 220.20M 187.70M
Net borrowings -420.70M - - - -
Total cash from financing activities -538.46M -68.40M -29.10M -63.20M -159.12M
Net income -32.15M -279.10M 87.10M -60.30M 190.72M
Change in cash 110.08M -170.60M 32.30M 140.80M 18.41M
Begin period cash flow 64.30M - - - 40.47M
End period cash flow 174.38M - - - 58.88M
Total cash from operating activities 339.44M -40.90M -53.30M -16.30M -10.21M
Depreciation 222.02M - - - -
Other cashflows from investing activities 387.06M -53.60M 130.10M 223.50M 194.27M
Dividends paid 101.95M 22.60M 23.10M 23.80M -
Sale purchase of stock -8.45M -45.30M -6.00M -36.60M -0.40M
Other cashflows from financing activities -0.71M - - -2.80M -17.10M
Capital expenditures 0.41M 7.70M 15.40M 3.30M 4.59M
Change in working capital 95.65M -14.80M -28.80M 1.20M 0.17M
Stock based compensation - - - - 6.30M
Other non cash items 53.93M - - - -207.42M
Free cash flow 339.03M - - - -14.79M

Peer Comparison*

Sector: Energy Industry: Oil & Gas E&P

Stock Name
Change
(CAD)
Price
(CAD)
Trailing
PE (x)
Forward
PE (x)
Price Sales
TTM (x)
Price to Book Value (x)
Enterprise Value
to Revenue (x)
Enterprise Value
to EBITDA (x)
MER
Meren Energy Inc.		 -0.07
3.75%		 1.93 - 6.03 2.90 1.55 2.41 5.20
CNQ
Canadian Natural Resources Ltd		 -4.13
5.51%		 70.84 11.45 12.38 3.26 2.78 3.15 6.36
OXY
Occidental Petroleum CDR (CAD Hedged)		 -0.97
3.88%		 24.06 42.29 13.11 2.65 2.04 3.96 7.33
TOU
Tourmaline Oil Corp.		 -2.33
3.52%		 63.95 87.74 15.80 5.03 1.50 3.97 7.33
OVV
Ovintiv Inc		 -5.11
5.50%		 87.86 11.06 7.80 2.46 1.34 2.39 6.40

Profile*

Meren Energy Inc.

Meren Energy Inc., together with its subsidiaries, operates as an oil and gas exploration and production company in Nigeria, Namibia, South Africa, and Equatorial Guinea. The company holds interests in producing and development assets in deepwater Nigeria. It also has a portfolio of development and exploration assets in the west and south of Africa. Meren Energy Inc. was formerly known as Africa Oil Corp. and changed its name to Meren Energy Inc. in May 2025. The company was incorporated in 1993 and is based in Vancouver, Canada.

666 Burrard Street, Vancouver, BC, Canada, V6C 2X8

https://mereninc.com

50

Name Title Year Born
Dr. Roger Morris Tucker President, CEO & Director 1957
Mr. Craig Knight Chief Operations Officer NA
Ms. Joanna Kay Chief Legal Officer & Corporate Secretary NA
Dr. Oliver Quinn Chief Commercial Officer NA
Mr. Aldo Perracini Chief Financial Officer NA
Mr. Shahin Amini Head of Investor Relations & Communications NA
Dr. Oliver Quinn Chief Commercial & Operating Officer NA
Mr. Craig Knight Executive Officer NA
Mr. Tom Haffenden Chief Human Resources Officer NA
Dr. Oliver Quinn President, CEO & Director NA

Disclaimer - (*)This information, including any data, is sourced from Unicorn Data Services SAS, trading as EOD Historical Data (“EODHD”) on an ‘as is’ basis, using their API. We cannot guarantee the completeness or validity of the information and data provided on this page, as well as via the API. In some cases, the data may include analyst ratings or recommendations sourced through the EODHD API, which are intended solely for general information purposes.
This information does not consider your personal objectives, financial situation, or needs. Kalkine is not liable for any errors or omissions in the information provided or for any actions taken in reliance on it. You should seek advice from a financial adviser, stockbroker or other professional adviser (including taxation and legal advice) as necessary before acting on this information.

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