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88 Energy

Current Price 0.99p Bid 0.96p Ask 1.02p Change 0.00%
Last Updated: 22/11/2019 00:59. Prices delayed by at least 15 minutes.
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Company Overview

88 Energy Limited (formerly Tangiers Petroleum Limited) has a 77.5% working interest and operatorship in ~325,000 acres onshore the prolific North Slope of Alaska (Project Icewine). Gross contiguous acreage position for the Joint Venture is 458,097 acres (88E 286,589 net acres). The North Slope is the host to the 15 billion barrel Prudhoe Bay oilfield complex, the largest conventional oil pool in North America. The Company, with its Joint Venture partner Burgundy Xploration, has identified highly prospective play types that are likely to exist on the Project Icewine acreage - two conventional and one unconventional. The large unconventional resource potential of Project Icewine was independently verified by leading international petroleum resource consultant DeGolyer and MacNaughton. In addition to the interpreted high prospectivity, the project is strategically located on a year-round operational access road and only 35 miles south of Pump Station 1 where Prudhoe Bay feeds into the Trans Alaska Pipeline System.

Financial Highlights Year Ended 31/12/2018

Turnover
£1.36m
Operating Profit
£-5.99m
Dividend Yield
0.00
Dividend Per Share
0.00
Dividend Cover
0.00
P/E Ratio
-9.40

Key Personnel

David James Wall
Managing Director
Michael John Evans
Non-Executive Chairman
Dr George Henry Stephen Staley
Non-Executive Director

Stock Details

EPIC
88E
ISIN
AU00000088E2
Shares in Issue
6,871,540,324
Market cap
£64.59m

Analyst Views (0)

Strong Buy
 
0.00%
Buy
 
0.00%
Hold
 
0.00%
Sell
 
0.00%
Strong Sell
 
0.00%
The above information represents a selection of the views published in the last 120 days by analysts. It is subject to change without notice and doesn't reflect view held by Redmayne Bentley and is not advice.

Price Summary

Mid Price
0.00p
Bid Price
0.96p
Ask Price
1.02p
Volume
0
Change Today
0.00p
% Change Today
0.00%
Open
0.00p
Previous Close
0.99p
Intraday High
0.00p
Intraday Low
0.00p
52 Week High
1.43p
52 Week Low
0.63p
52 week high and low figures quoted above are calculated from intraday price data.

Intra-Day Chart

88 Energy Intra-day Chart

Assets (£m)

Data has been provided by AJ Bell

Reporting Date
31 Dec 2018
31 Dec 2017
Tangible Assets
0.0
0.0
Intangible Assets & Goodwill
77.0
46.9
Investments & Other Non-Current Assets
23.0
20.3
Total Non-Current Assets
100.0
67.2
Inventory
0.0
0.0
Trade & Receivables
2.1
0.4
Cash & Receivables
21.7
14.0
Other Current Assets & Assets Held for Resale
0.0
0.0
Total Assets
123.8
81.6

Liabilities (£m)

Data has been provided by AJ Bell

Reporting Date
31 Dec 2018
31 Dec 2017
Short Term Liabilities
6.3
26.0
Long Term Liabilities
23.4
0.0
Other Liabilities / Pension etc
0.0
0.0
Total Liabilities
29.7
26.0

Net Assets (£m)

Data has been provided by AJ Bell

Reporting Date
31 Dec 2018
31 Dec 2017
Net Assets
94.1
55.5

Equity (£m)

Data has been provided by AJ Bell

Reporting Date
31 Dec 2018
31 Dec 2017
Share Capital
179.3
141.7
Minority Interests
0.0
0.0
Retained Earnings
-107.8
-101.8
Share Premium Account
0.0
0.0
Other Equity
22.6
15.7
Total Equity
94.1
55.5

Cashflow (£m)

Data has been provided by AJ Bell

Reporting Date
31 Dec 2018
31 Dec 2017
Cashflow from Operating Activities
-6.6
-4.4
Cashflow Before Financing
-29.5
-27.2
Increase / Decrease in Cash
6.9
-11.5

Income (£m)

Data has been provided by AJ Bell

Reporting Date
31 Dec 2018
31 Dec 2017
Turnover
1.4
0.1
Cost of Sales
0.0
0.0
Gross Profit
0.0
0.0
Operating Profit
-6.0
-5.7
Pre-Tax Profit
-6.0
-8.4
Profit / Loss for the Year
-6.0
-8.4
The value of your investments and the income from them may go down as well as up, and you could get back less than you invested.
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