2 Energy Stocks – BKY, SXY

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energy stocks

Australia’s stock market crashed by 0.4% today, with S&P ASX 200 closing at A$5774.6. The Energy sector Index (XEJ) also closed in red at A$10,400.9, down by 0.23%. However, deviating from this trend, we will be looking at two energy stocks which soared at the end of today’s trading session.

Berkeley Energia Limited (ASX: BKY)

The shares of energy player, Berkeley Energia Limited, soared by 63.27% today. The company’s stock closed at A$40 with a market capitalization of A$63.31 million. Although the price of the scrip is trending downward by 68.79% since last six months, the share price has risen by 29% over a month.  

Today, on 11 January 2019, the shares jumped on company refuting third such Spanish media speculation since October 2018, regarding company potential regulatory approvals for its Salamanca uranium project. The company releases ASX announcement, denying receiving any official notice for the Salamanca project approval. Media news started doing rounds regarding Spanish authority CSN endorsing nuclear safety studies for the company.

Berkeley Energy is currently focussing on bringing its high-grade uranium project in production, across resourceful area in Western Spain. The company has received all the required European and national level approvals to commence the infrastructure development. On 7 January 2019, the company responded to ASX query regarding the company’s price and volume of the traded shares. The company argued that there is no piece of information which the company did not announce and was rather shared private information which could be a reason for the recent trading of company’s shares.

The company reported Loss After Income Tax of $4.8 million in FY18 as compared to $16.1million in FY17. The Group had Net Assets of $46.8 million as at 30 June 2018, with a decline of 3% as compared to FY17. The total liabilities stood at $76.3 million in FY18 as compared to $5.7million in FY17.

Senex Energy Ltd (ASX: SXY)

The shares of oil and gas player, Senex Energy jumped by 1.7% today, closing at A$0.305 as compared to the previous close of A$0.300. The share price has fallen by 32.58% in the last six months.

Senex Energy is engaged in oil and gas exploration across the Surat Basin in Queensland and the Cooper Basin in South Australia. Cooper Basin includes 100% owned Western Surat Gas project and Atlas project. The company reported 12% oil production increase largely driven by increased volumes from the Western Surat gas project. 61% increase in sales revenue was recorded attributable mainly to higher production volumes and higher oil sale price of $95 per barrel as compared to $61 per barrel. Net 1P reserves rose by 21%, contributed mainly by strong subsurface performance across Western Surat gas project appraisal program.Net 2P reserves rose by 35%, attributable primarily by the inaugural booking of Project Atlas reserves. Robust EBITDAX of $43.4 million was recorded for FY18 as compared to $7.3 million in FY17.The company incurred a Net Loss of $94 million impacted by non-cash impairment of $113.3 million with regards to non-core Cooper Basin exploration assets.


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