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Origin Energy Oil Search Ltd AGL Energy Ltd Santos Ltd
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Valuation and Company Review
October 2009
Valuation Summary
March 2010
Valuation Summary
April 2010
Valuation Summary
March 2010
fundamental analysis
Summar
Valuation
February
2010
- Practical insight
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Santos Limited
Regular updates
Origin Energy
Strong fundamental analysis
Company Analysis Woodside Petroleum Limited
& Valuations Practical insights
Oil Search
Balance of strategy / finance /
AGL Energy
technical / operations analysis
Mid to small cap companies
Core maintains an up to date strategic view of key We are positioning Core for leadership in strategic
elements of the energy value chain to provide a analysis and insight across the energy industry.
clear context for portfolio decisions and company Core provides its strategic business information
level analysis and valuations. and analysis to clients through discussion, reports,
workshops and an online portal designed to meet
Strategic level analysis provides a range of benefits:
client specific needs.
Provides a sound basis for price outlook based on
supply and demand and competitor dynamics –
e.g. gas, electricity, oil price, LNG
Ensures a disciplined approach to deriving market
share forecasts – competitor analysis – e.g.
energy retailing, gas, electricity
Facilitates assessment of differential in quality
between assets and companies – e.g. coal seam
gas, LNG
Enables systematic analysis of emerging value
and risk drivers – e.g. CPRS, MRET – wind versus
gas
Compliments technical and financial analysis to
provide a comprehensive basis for investment
decision making
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Core’s team of energy specialists are allocated Core differentiates its analysis in several ways:
responsibility for companies and related sectors to
Totally independent
ensure we fully leverage relevant knowledge for our
clients. Fact based – leverages Core’s significant
investment in industry and company facts
Our analysis is based on detailed discounted cash
flow analysis for each asset which is ultimately Practical – developed by industry specialists who
consolidated to provide a whole of company remain active in energy markets in a manner
perspective. The combination of independent which protects against conflicts
strategic, technical, operational and financial Rigorous – technically and commercially
analysis enables us to deliver projections which are Strategy oriented – there is a sound basis for key
both rigorous and prudent. We present both the assumptions and projections
upside potential and the downside risk without bias.
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Core maintains a five tiered communication program to provide distinctive insights in a timely manner:
Daily report highlighting Teleconference discussion Monthly report highlighting key Company valuation and report Full strategic study updates
key news flow, issues and Weekly report addressing key issues, trends and information updates – detailed analysis and workshops
information energy issues Updates of strategic analysis to discuss key findings
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November 2009
2009
Core Energy Group
Kristin Staritski
Senior Analyst (Strategy)
T +61 8 8412 6405
M +61 402 858 978
ks@coreenergy.com.au
Andrew Lee
Energy Advisor
T +61 8 8412 6402
M +61 422 680 323
al@coreenergy.com.au