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mie holdings corporation (19MA) Snapshot

Open
€0.12
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Day High
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Day Low
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52 Week High
05/20/13 - €0.20
52 Week Low
03/14/14 - €0.11
Market Cap
323.2M
Average Volume 10 Days
0.0
EPS TTM
--
Shares Outstanding
2.6B
EX-Date
05/20/14
P/E TM
--
Dividend
€0.03
Dividend Yield
4.77%
Current Stock Chart for MIE HOLDINGS CORPORATION (19MA)

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mie holdings corporation (19MA) Details

MIE Holdings Corporation, an investment holding company, is engaged in the exploration, development, production, and sale of crude oil and other petroleum products under production sharing contracts (PSCs) in the People’s Republic of China (PRC) and the Republic of Kazakhstan. The company operates through PRC, Kazakhstan, and the United States of America (USA) segments. It has four producing oil PSCs in the PRC; an exploration contract and four production contracts in Kazakhstan; and a working interest in the Niobrara shale oil and gas assets in the USA. The company also holds interests in the two unconventional gas assets located on the eastern flank of the Ordos Basin in the PRC. As of December 31, 2013, it operated 2,817 wells, which include 2,773 wells in PRC, 39 wells in Kazakhstan, and 5 wells in the USA. The company is based in Hong Kong. MIE Holdings Corporation is a subsidiary of Far East Energy Limited.

2,588 Employees
Last Reported Date: 04/6/14

mie holdings corporation (19MA) Top Compensated Officers

Chairman and Chief Executive Officer
Total Annual Compensation: CNY8.0M
Chief Financial Officer, Senior Vice Presiden...
Total Annual Compensation: CNY5.0M
Vice Chairman and Senior Vice President
Total Annual Compensation: CNY4.6M
Chief Geoscientist, Senior Vice President and...
Total Annual Compensation: CNY2.9M
Vice President
Total Annual Compensation: CNY2.2M
Compensation as of Fiscal Year 2013.

mie holdings corporation (19MA) Key Developments

MIE Holdings Corporation Announces Proposed Issue of U.S. Dollar Denominated Senior Notes

MIE Holdings Corporation proposed to conduct an international offering of U.S. dollar denominated senior notes. The completion of the international offering of the Notes is subject to market conditions and investors interest. The Notes are proposed to be guaranteed by certain of the company's subsidiaries on a senior basis. The pricing of the Notes, including the aggregate principle amount, the offer price and interest rate, will be determined through a book building exercise conducted by Bank of America Merrill Lynch, Deutsche Bank, HSBC, J.P. Morgan, Morgan Stanley and UBS as joint bookrunners and joint lead managers. Upon finalization of the terms of the Notes, Bank of America Merrill Lynch, Deutsche Bank, HSBC, J.P. Morgan, Morgan Stanley and UBS, will enter into a purchase agreement with the company in relation to the Notes and other ancillary documents. The Notes will only be offered by the Initial Purchasers in the United States to qualified institutional buyers in reliance on the exemption from the registration requirements under Rule 144A of the U.S. Securities Act of 1933, as amended, and outside the United States in compliance on Regulation S under the Securities Act. None of the Notes will be offered to the public in Hong Kong and none of the Notes will be placed to any connected persons of the Company. The company intends to use the net proceeds of the Notes to redeem in full the 2016 Notes and fund the related redemption costs, including a call premium of USD 19.5 million and the remaining balance for capital expenditures, working capital and general corporate purposes.

MIE Holdings Corporation, Board Meeting, Mar 10, 2014

MIE Holdings Corporation, Board Meeting, Mar 10, 2014.

MIE Holdings Corporation Proposes Dividend for the Year Ended December 31, 2013; Reports Consolidated Earnings Results for the Year Ended December 31, 2013; Provides Earnings and Operating Guidance for the Fiscal Year of 2014

MIE Holdings Corporation proposed dividend in respect of the year ended December 31, 2013 of HKD 0.029 per share as compared to final dividend of HKD 0.059 per share paid a year ago, at the forthcoming annual general meeting. These financial statements do not reflect this dividend payable. The company reported consolidated earnings results for the year ended December 31, 2013. For the period, the company reported revenue of RMB 3,256,061,000 compared to RMB 3,485,616,000 a year ago. Profit from operations was RMB 869,197,000 compared to RMB 1,124,812,000 a year ago. Profit before income tax was RMB 454,867,000 compared to RMB 837,037,000 a year ago. Profit for the year was RMB 279,784,000 compared to RMB 541,272,000 a year ago. Profit for the year attributable to owners of the company was RMB 283,009,000 compared to RMB 543,966,000 a year ago. Basic and diluted earnings per share was RMB 0.11 compared to RMB 0.20 per diluted share a year ago. EBITDA was RMB 1,705,452,000 compared to RMB 1,977,914,000 a year ago. Adjusted EBITDA was RMB 1,802,761,000 compared to RMB 2,144,365,000 a year ago. The company provided earnings and operating guidance for the fiscal year of 2014. For the period, the Group plans to drill 232 gross wells (including 59 wells in SGE), and the expected net capital expenditure to be invested by the group is about USD 350 million. The expected net oil production is 15,300 to 16,300 barrels/day and the expected net gas production is 6,400 to 7,400 MSCF/day.

 

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Valuation 19MA Industry Range
Price/Earnings 10.4x
Price/Sales 0.9x
Price/Book 0.8x
Price/Cash Flow 2.5x
TEV/Sales NM Not Meaningful
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