Geo Energy Resources Limited has initiated a share buyback programme, purchasing 637,500 shares on 7 July 2026, marking the start of a series of buybacks. This move, approved by shareholders, reflects the company’s confidence in its business fundamentals and long-term prospects. The shares were bought at an average price of S$0.519, representing 6.7% of the day’s traded shares.
The buyback comes as Geo Energy prepares to commence operations at its PT Marga Bara Jaya (MBJ) Integrated Infrastructure, a transformational asset. The company is in discussions with Resource Invest AG for a US$1.5b investment in MBJ. Executive Chairman and CEO Charles Antonny Melati stated, “Commencing this buyback programme is a natural step to take given the continued undervaluation of our current share price.”
Coal prices have been rising, with the Indonesian Coal Index 4200 GAR price averaging US$63.88 per tonne for Q2 2026, up from US$52.38 in Q1. Prices are expected to strengthen further, driven by demand from China, India, and Japan.
The completion of MBJ is set to increase Geo Energy’s coal production to 25 million tonnes annually, with logistical cost savings and new revenue streams. Melati expressed optimism about the company’s future, highlighting the potential for sustainable growth and diversification into premium coking coal. The company aims to deliver attractive long-term returns for shareholders.
