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88 Energy

Current Price 1.56p Bid 1.50p Ask 1.60p Change -7.46%
Last Updated: 22/06/2018 14:27. 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 31/12/2017

Turnover
£0.06m
Operating Profit
£-5.71m
Dividend Yield
0.00
Dividend Per Share
0.00
Dividend Cover
0.00
P/E Ratio
-8.40

Key Personnel

Brent Jude Villemarette
Executive Director
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
5,557,964,694
Market cap
£93.37m

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
1.55p
Bid Price
1.50p
Ask Price
1.60p
Volume
47627613
Change Today
-0.13p
% Change Today
-7.46%
Open
1.60p
Previous Close
1.68p
Intraday High
1.65p
Intraday Low
1.42p
52 Week High
4.15p
52 Week Low
0.85p
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 MoneyAM

Reporting Date
31 Dec 2017
31 Dec 2016
Tangible Assets
0.0
0.0
Intangible Assets & Goodwill
46.9
38.2
Investments & Other Non-Current Assets
20.3
11.2
Total Non-Current Assets
67.2
49.4
Inventory
0.0
0.0
Trade & Receivables
0.4
0.3
Cash & Receivables
14.0
27.3
Other Current Assets & Assets Held for Resale
0.0
0.0
Total Assets
81.6
77.0

Liabilities (£m)

Data has been provided by MoneyAM

Reporting Date
31 Dec 2017
31 Dec 2016
Short Term Liabilities
26.0
6.2
Long Term Liabilities
0.0
22.8
Other Liabilities / Pension etc
0.0
0.0
Total Liabilities
26.0
29.0

Net Assets (£m)

Data has been provided by MoneyAM

Reporting Date
31 Dec 2017
31 Dec 2016
Net Assets
55.5
48.0

Equity (£m)

Data has been provided by MoneyAM

Reporting Date
31 Dec 2017
31 Dec 2016
Share Capital
141.7
125.2
Minority Interests
0.0
0.0
Retained Earnings
-101.8
-93.4
Share Premium Account
0.0
0.0
Other Equity
15.7
16.3
Total Equity
55.5
48.0

Cashflow (£m)

Data has been provided by MoneyAM

Reporting Date
31 Dec 2017
31 Dec 2016
Cashflow from Operating Activities
-4.4
-3.5
Cashflow Before Financing
-27.2
-29.1
Increase / Decrease in Cash
-11.5
16.9

Income (£m)

Data has been provided by MoneyAM

Reporting Date
31 Dec 2017
31 Dec 2016
Turnover
0.1
0.2
Cost of Sales
0.0
0.0
Gross Profit
0.0
0.0
Operating Profit
-5.7
-7.7
Pre-Tax Profit
-8.4
-9.4
Profit / Loss for the Year
-8.4
-9.4
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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