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Spitfire Oil

Current Price 1.85p Bid 1.75p Ask 2.50p Change 0.00%
Last Updated: 19/02/2020 22:12. Prices delayed by at least 15 minutes.
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Company Overview

Spitfire Oil Limited, through its wholly owned subsidiary Spitfire Oil Pty Ltd, was formed to pursue the production of liquid hydrocarbons, including fuels and distillates, from the Salmon Gums Lignite Deposit in Western Australia. Lignite is a low-rank form of brown coal which has properties that allow it to be converted into oil. Spitfire Oil Pty Ltd intially secured exploration licences and in September 2012 a retention licence over both the Deposit and adjacent ground prospective for extensions of the Deposit. Funds raised to date have been primarily used to establish the technical and economic potential of the Deposit and define the potential resource. Additional funding will be required to establish commercial scale mining and processing. The Deposit is characterised by its relatively high kerogen content. Kerogen is a hydrocarbon compound which converts into oil. Original test work prior to Admission to AIM in July 2007 indicated that oil may be recoverable from the Deposit at an average yield of approximately 69 litres per tonne of lignite (in situ) or 0.43 barrels per tonne or better. After adjustments for average moisture content and other variables, GHD (the Independent Person at time of Admission) estimated the Deposit to contain an extractable volume of approximately 200 million barrels of oil, should the JORC code calculated Inferred Resource of just over 500 million tonnes of lignite (assuming a 5 metre thickness cut-off) be proven to be economic.

Financial Highlights Year Ended 30/06/2019

Turnover
£0.03m
Operating Profit
£-0.17m
Dividend Yield
0.00
Dividend Per Share
0.00
Dividend Cover
0.00
P/E Ratio
-0.59

Key Personnel

Mladen Ninkov
Non-Executive Chairman
Rupert William Ashton Crowe
Non-Executive Director
Roger Goodwin
Non-Executive Director
Malcolm Roger Joseph Randall
Non-Executive Director

Stock Details

EPIC
SRO
ISIN
BMG836741048
Shares in Issue
25,884,001
Market cap
£0.55m

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
2.13p
Bid Price
1.75p
Ask Price
2.50p
Volume
0
Change Today
0.00p
% Change Today
0.00%
Open
0.00p
Previous Close
2.13p
Intraday High
0.00p
Intraday Low
0.00p
52 Week High
4.25p
52 Week Low
1.75p
52 week high and low figures quoted above are calculated from intraday price data.

Intra-Day Chart

Spitfire Oil Intra-day Chart

Assets (£m)

Data has been provided by AJ Bell

Reporting Date
30 Jun 2019
30 Jun 2018
Tangible Assets
0.0
0.0
Intangible Assets & Goodwill
0.0
0.5
Investments & Other Non-Current Assets
0.1
0.1
Total Non-Current Assets
0.1
0.5
Inventory
0.0
0.0
Trade & Receivables
0.0
0.0
Cash & Receivables
2.1
2.6
Other Current Assets & Assets Held for Resale
0.0
0.1
Total Assets
2.2
3.1

Liabilities (£m)

Data has been provided by AJ Bell

Reporting Date
30 Jun 2019
30 Jun 2018
Short Term Liabilities
0.1
0.0
Long Term Liabilities
0.0
0.0
Other Liabilities / Pension etc
0.0
0.0
Total Liabilities
0.1
0.0

Net Assets (£m)

Data has been provided by AJ Bell

Reporting Date
30 Jun 2019
30 Jun 2018
Net Assets
2.1
3.1

Equity (£m)

Data has been provided by AJ Bell

Reporting Date
30 Jun 2019
30 Jun 2018
Share Capital
19.3
19.3
Minority Interests
0.0
0.0
Retained Earnings
-17.2
-16.2
Share Premium Account
0.0
0.0
Other Equity
0.0
0.0
Total Equity
2.1
3.1

Cashflow (£m)

Data has been provided by AJ Bell

Reporting Date
30 Jun 2019
30 Jun 2018
Cashflow from Operating Activities
-0.1
-0.3
Cashflow Before Financing
-0.4
-0.6
Increase / Decrease in Cash
-0.4
-0.6

Income (£m)

Data has been provided by AJ Bell

Reporting Date
30 Jun 2019
30 Jun 2018
Turnover
0.0
0.1
Cost of Sales
0.0
0.0
Gross Profit
0.0
0.0
Operating Profit
-0.2
-0.2
Pre-Tax Profit
-0.9
-1.4
Profit / Loss for the Year
-0.9
-1.4
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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