Challenger Energy (CEL)

Business description

Challenger Energy is an ASX-listed E&P with a 95% interest in an application for an exploration permit in the Karoo basin, South Africa, which is prospective for shale gas. It is awaiting award of a permit to start drilling.

Stock data

Market cap.A$12.1m
Last closeA$0.03
High / Low (52 weeks)A$0.0 / A$0.0
Stock market listingAU
Forecast net debt (m)N/A
Forecast gearing ratio (%)N/A
TeamResources - Oil & Gas
SectorOil & Gas

Price performance

%1m3m12m
Actual29.2106.714.8
Relative *30.8105.27.1

* % Relative to local index

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Company news

A trio of challenger energy firms have come out in favour of a new price cap

Thu, 16 Mar 2017 00:56:15 GMT

Is Challenger Energy Ltd (CEL.AX) Finding its Groove?

Wed, 24 May 2017 11:11:07 GMT

Small energy suppliers among worst for complaints

Sun, 27 Sep 2015 23:04:39 GMT

Save £238 a year on energy bills as we launch dual-fuel tariff to challenge ...

Tue, 15 Nov 2016 03:17:30 GMT

UK energy challenger Utilita warns of price-cap profit wipeout

Wed, 20 Apr 2016 08:05:01 GMT

Y/E Jun Revenue (A$m) EBITDA (A$m) PBT (A$m) EPS (c) P/E (x) P/CF (x)
2015A 0.1 (1.2) (1.3) (0.3) N/A N/A
2016A 0.0 (1.1) (1.1) (0.5) N/A N/A
2017E N/A N/A N/A N/A N/A N/A
2018E N/A N/A N/A N/A N/A N/A

Last updated on 26/04/2017

Investment summary

Recommended changes to the Mineral and Petroleum Resources Development Act (MPRDA), relating mainly to fiscal terms, were presented to South Africa's Upper House by the Department of Mineral Resources (DMR) in November 2016. Challenger Energy expects all public consultations will be completed by the end of March/April 2017. The DMR proposed that the state's 20% free carried interest be changed to a 20% carried interest with a cost recovery during the production phase. The DMR also proposed reserving a lower 10% shareholding for Black Empowerment Participation. The MPRDA is widely anticipated as a precursor of long-term shale gas exploration rights in the Karoo.

Last updated on 02/05/2017

Industry outlook

Challenger's application area is proximate to major existing power transmission infrastructure. South Africa's National Development Plan argues the case for natural gas having a significant role to play in South Africa's energy mix. Currently, c 90% of South Africa's energy is generated from coal.

Last updated on 02/05/2017

Key management

Michael Fry, Chairman
Robert Willes, MD
Bill Bloking , Non-executive director
Paul Bilston, PhD, Technical adviser

Company address

Level 17
500 Collins Street
Melbourne
VIC 3000
Australia
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