AUS
NZ
UK
CA
USA
IND
The below mentioned Energy Stocks have witnessed a fall in their share price over the last six months. Letâs take a closer look at these stocks:
ADX Energy Ltd (ASX:ADX)
Oil and gas exploration company, ADX Energy Ltd (ASX:ADX) today (4 February 2019) advised that the Italian Senate has passed a Bill for the suspension of exploration activities in permits which have been approved for a period of up to 18 months. This suspension will enable the government authorities to evaluate the suitability of exploration areas for sustainable hydrocarbon exploration and production activities. The Bill is scheduled to be voted on in Parliament on the 12 February 2019, and if enacted it will become law. Following this news, the share price of the company decreased by 30 Percent as on 4 February 2019. According to the company announcement, this is an unfortunate setback given the recent positive engagement with Italian Authorities following the provision by ADX to the Italian Authorities of farm in agreement documentation with a view to securing permit ratification as soon as practically possible.
In the past six months, the share price of the company decreased by 16.67 percent as on 1 February 2019. ADXâs shares traded at $0.007 with a market capitalization of circa $12.08 million as on 4 February 2019.
88 Energy Limited (ASX:88E)
Oil and gas exploration and production company, 88 Energy Limited (ASX:88E) is having its operations in Project Icewine, Yukon Gold and Western Blocks Projects, all of which are located in Alaska. During the December quarter, the conventional prospective resource at Project Icewine was upgraded to 2,896 MMBO. At the Yukon Acreage project, during the December quarter, the company progressed Seismic processing of the Yukon 3D.
For the December quarter, the company reported net cash from operating activities of A$362k, net cash used in investing activities of A$209k and net cash from financing activities of A$13,066k. The closing balance of the Cash and cash equivalents of the December quarter was $21,723k.
In the past six month, the share price of the company decreased by 4.13 percent as on 1 February 2019. 88Eâs shares traded at $0.020 with a market capitalization of circa $126.63 million as on 4 February 2019.
Energy Action Limited (ASX:EAX)
Australia's leading energy management firm, Energy Action Limited (ASX:EAX) has recently completed a strategic review of options available to the company which highlighted that the Company should focus on developing its strong market position in core energy procurement and monitoring services and streamline the delivery of its energy efficiency solutions. While providing the trading update, the company has informed that it has traded profitably, and it is expecting to generate positive operating cash flows before interest, tax and significant items of $1.7 million in the first half of FY2019.
In the last six months, the share price of the company decreased by 51.77 percent as on 1 February 2019. EAXâs shares traded at $0.340 with a market capitalization of circa $8.82 million as on 4 February 2019.
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