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$9.7m
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
Actual0.08.7(10.7)
Relative *(0.2)9.6(14.4)

* % Relative to local index

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Company news

Challenger Energy Ltd gets ready to raise

Wed, 16 Mar 2016 23:32:35 GMT

Challenger Energy brings South African shale gas to Melbourne, Sydney Luncheons

Thu, 25 Sep 2014 23:20:11 GMT

New challenger energy firm launches promising to undercut the Big Six by 20%

Tue, 09 May 2017 08:31:02 GMT

Small energy suppliers among worst for complaints

Sun, 27 Sep 2015 23:04:39 GMT

Challenger Energy Ltd raises funds to fuel shale gas project in South Africa

Mon, 21 Mar 2016 04:44:40 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 26/06/2017

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 Q217. The DMR proposed that the state's 20% free carried interest should 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 03/07/2017

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 03/07/2017

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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