Oil & Gas

88 Energy Limited (ASX:88E)

Industry Group : Energy | Industry Group Name : Oil, Gas & Consumable Fuels

Market Price : AUD 0.030.001 (3.448%)

(as on 2021-10-23 05:25:05)

Market Cap : AUD 432.012 M

Previous Close Open Close* Day Range 52 WEEK HIGH LOW
0.029 0.03 0.03 0.029L 0.03 H 0.006L 0.096 H
Last Trade 0.03
Change% 3.4483
52 W H/L 0.096/0.006
EBITDA -15.296 M
NPAT After Abnormal Items -22.034 M
Equity 58.911 M
ROE% -37.40%
Total Liabilities 26.448 M
Total Revenue 292,997
Cash and Cash Equivalents 14.845 M

Stock Information

Share price 0.03
Market Cap 432.012 M
Price/Gross Cash Flow -6.27
Dividend Yield Excluding Special 0.00%
Ending Shares 10.602 B
52-Week Range 0.006-0.096
P/E ratio 0.000
Sector P/E --
EPS -0.27
EV/EBITDA --
Net Profit Margin (%) --
Gross Cash Flows Per Share -0.00
Net Gearing 10.08%
Gross DPS (AUD) 0
Gross Dividend Yield (Annualized) 0.00%
Earnings Yield 0.000
Net Tangible Asset (NTA) 0.01
Sales Per Share 0.00
Book Value Per Share 0.01

Announcements

Heading Date/Time
Quarterly Activities Report & Cashflow  15/10/2021 1:47PM
Notice of General Meeting/Proxy Form  07/10/2021 6:56PM
Cleansing Statement  10/09/2021 8:20AM
Application for quotation of securities - 88E  10/09/2021 8:20AM
Notification regarding unquoted securities - 88E  10/09/2021 8:20AM
Investor Presentation  02/09/2021 12:38PM
Proposed issue of securities - 88E  02/09/2021 9:54AM
Placement to Raise A$24M  02/09/2021 9:54AM
Trading Halt  31/08/2021 9:09AM
Merlin-1 well confirms light oil with appraisal well planned  16/08/2021 8:02AM
Half Year Report and Accounts  11/08/2021 11:21AM
Umiat Oil Field - Update  04/08/2021 10:01AM
Initial Director's Interest Notice  02/08/2021 8:13AM
Initial Director's Interest Notice  02/08/2021 8:12AM
Final Director's Interest Notice  02/08/2021 8:12AM
Strengthening Board and Management  02/08/2021 8:12AM
Quarterly Activities Report & Cashflow  27/07/2021 9:45AM
100% Working Interest in Project Peregrine  15/07/2021 9:04AM
Update - Proposed issue of securities - 88E  15/07/2021 9:02AM
Merlin-1 Testing Program Update  14/07/2021 8:22AM
Cleansing Statement  12/07/2021 11:42AM
Application for quotation of securities - 88E  12/07/2021 11:41AM
Cleansing Statement  06/07/2021 9:35AM
Application for quotation of securities - 88E  06/07/2021 9:34AM
Application for quotation of securities - 88E  01/07/2021 9:40AM
Full Repayment of Debt  01/07/2021 9:17AM
Cleansing Statement  01/07/2021 9:16AM
88 Energy Adopts Global Standard for ESG Reporting  30/06/2021 8:16AM
Merlin-1 Testing Program Update  24/06/2021 8:44AM

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About Company

88 Energy Limited is an oil and gas exploration and production company aiming at oil on the globally recognised North Slope of Alaska through its operations across Project Peregrine and Project Icewine.

88E wholly owns the Project Peregrine, where the prospective areas like Merlin-1 well and Harrier-1 well indicate a substantial opportunity for the Company. For 88E, Harrier and Merlin prospects in Nanushuk Formation indicate relatively high chances of success.

In addition to this, 88E has a majority interest in Project Icewine, which is located in the prolific oil-rich province with multiple objectives. 88E inked an agreement with Burgundy Xploration in 2014 to obtain a substantial working interest in a large acreage position in the Project Icewine.

88E was granted the lease sale on Lease AA095899 in the new Coastal Plain, commencing from 1 January 2021, through its wholly-owned subsidiary Regenerate Alaska Inc. The area is believed to be highly prospective for oil and gas.

This acquisition indicates a major step towards 88E’s aggregation strategy for oil resources in the North Slope of Alaska, where the present infrastructure offers a possible pathway to commercialisation.

88E also anticipates obtaining support in furthering discussions with neighbouring resource owners to optimise the monetisation strategy of the acreage.

The Company envisions establishing a successful exploration and production business that generates substantial value for its shareholders while providing towards the development of the regions of operations.

88E plans to achieve this by targeting unnoticed or developing areas where its team of experts can mobilise rapidly to capitalise on prospects prior to the movement of bigger players in the industry.

Interestingly, vigorous technical assessment along with informed socio-political decisions and cultural sensitivity in commercialisation affairs form the basis for 88E’s pursuit of opportunities.

Corporate Information

company address Ground Floor, 516 Hay Street, SUBIACO, WA, AUSTRALIA, 6008

company phone+61 8 9485 0990

company websitehttp://www.88energy.com 

Dividends

Ex-Dividend Date Franking DPS (AUD) Dividend Yield
30/12/2020 -- 0.000 0.00%
30/12/2019 -- 0.000 0.00%
30/12/2018 -- 0.000 0.00%
30/12/2017 -- 0.000 0.00%
30/12/2016 -- 0.000 0.00%
30/12/2015 -- 0.000 0.00%
30/12/2014 -- 0.000 0.00%
30/12/2013 -- 0.000 0.00%
30/12/2012 -- 0.000 0.00%
30/12/2011 -- 0.000 0.00%

Event Calendar

Event Type Event Date Event Year
Report (Quarterly) 2022-10-14 2022
Report (Quarterly) 2022-07-26 2022
Report (Quarterly) 2022-04-19 2022
Report (Annual) 2022-03-08 2022
Report (Quarterly) 2022-01-20 2022

Financials

Breakdown 30/12/2020 30/12/2019 30/12/2018 30/12/2017 30/12/2016
Trading Revenue -- -- -- -- --
Other Revenue 292,997 15,385 1.884 M 50,315 104,379
Total Revenue 292,997 15,385 1.884 M 50,315 104,379
Interest Income 5,244 20,546 16,971 6,396 54,248
Interest Expenses -2.595 M -3.095 M -4.225 M -2.703 M -1.703 M
Expenses -19.643 M -33.663 M -3.62 M -5.758 M -7.849 M
EBITDA -19.35 M -33.647 M -1.735 M -5.708 M -7.744 M
Depreciation and Amortization -93,387 -58,110 -50,609 -3,952 -8,232
Depreciation -93,387 -58,110 -50,609 -3,952 -8,232
Amortisation 0 0 0 0 0
EBIT -19.443 M -33.706 M -1.786 M -5.712 M -7.753 M
Pre Tax Profit -22.034 M -36.78 M -5.994 M -8.409 M -9.401 M
Tax Expense 0 0 0 0 0
Net Profit After Tax -22.034 M -36.78 M -5.994 M -8.409 M -9.401 M
Minority Interest 0 0 0 0 0
Preference Dividend 0 0 0 0 0
Net Abnormal Items 0 0 0 0 0
Reported Net Profit After Abnormal Items -22.034 M -36.78 M -5.994 M -8.409 M -9.401 M
Ending Shares 10.602 B 6.872 B 6.332 B 4.681 B 4.197 B
Weighted Average Shares 8.151 B 6.332 B 6.186 B 4.571 B 3.714 B
EPS After Abnormal Items (cents) -0.27 -0.58 -0.1 -0.18 -0.25
Breakdown 30/12/2020 30/12/2019 30/12/2018 30/12/2017 30/12/2016
Total Current Assets 19.925 M 17.024 M 23.824 M 14.372 M 27.616 M
Total Non Current Assets 65.435 M 76.556 M 99.972 M 67.188 M 49.392 M
Total Assets 85.36 M 93.58 M 123.796 M 81.56 M 77.008 M
Total Current Liabilities 5.666 M 6.309 M 6.257 M 26.029 M 6.218 M
Total Non Current Liabilities 20.782 M 22.673 M 23.424 M 0 22.779 M
Total Liabilities 26.448 M 28.982 M 29.682 M 26.029 M 28.997 M
Net Assets 58.911 M 64.599 M 94.114 M 55.531 M 48.01 M
Breakdown 30/12/2020 30/12/2019 30/12/2018 30/12/2017 30/12/2016
Net Operating Cash -5.117 M -5.838 M -6.585 M -4.429 M -3.498 M
Net Invested Cash -9.337 M -5.865 M -22.954 M -22.756 M -25.592 M
Net Financing Cash Flows 13.631 M 6.069 M 36.427 M 15.729 M 46.005 M
Beginning Cash 15.903 M 21.722 M 14.014 M 27.303 M 9.604 M
End Cash Position 14.845 M 15.903 M 21.722 M 14.014 M 27.303 M
Exchange Rate Adjustments -234,868 -184,227 819,995 -1.832 M 784,097
Other Cash Adjustments 0 0 0 0 0
Ending Cash 14.845 M 15.903 M 21.722 M 14.014 M 27.303 M

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