CE1 current market cap is significantly undervalued IMO (~$39 million).
CE1 Positive Outlook
- ~$100 million dollars in annual revenue (~$25 million per quarter as shown in below screenshot).
- ~$17.3 million dollars cash held in bank, with zero debt (pre October capital return).
- ~60% gross profit margin.
- 28% reduction in capital spend when compared to 2022, whilst maintaining production rates.
- Potential second capital return to occur in January 2024 (just days away).
- Recent increase in CE1 oil & gas production rates to over 4100 BOE per day as a result of recent successful drilling campaign.
- Pisces 12 well still yet to be officially brought online from recent drilling campaign. Market awaiting new and increased production rates after Pisces 12 is brought online.
- Announcement confirming the completion of recent upgrades to CE1 oil and gas transport/storage infrastructure is also due (completed upgrades will further increase production capacity).
- A new drilling campaign has been announced, commencing in 2024 (announcement regarding further details due at any moment).
- Potential $80 million dollar sale of Brooks or Thorsby oil & gas assets could be announced at any moment (as indicated in below screenshot).
Announcement Showing Current and Future Quarterly Revenue
Announcement Showing Potential Sale of Brooks or Thorsby Oil & Gas Assets
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CE1 current market cap is significantly undervalued IMO (~$39...
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Last
12.8¢ |
Change
-0.003(1.92%) |
Mkt cap ! $80.71M |
Open | High | Low | Value | Volume |
12.5¢ | 12.8¢ | 12.5¢ | $28.80K | 226.3K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
17 | 20552594 | 12.5¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
13.0¢ | 14775653 | 42 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
17 | 20552594 | 0.125 |
7 | 3769200 | 0.120 |
2 | 90000 | 0.115 |
1 | 50000 | 0.110 |
1 | 50000 | 0.105 |
Price($) | Vol. | No. |
---|---|---|
0.130 | 14775653 | 42 |
0.135 | 2170600 | 18 |
0.145 | 33076 | 2 |
0.150 | 261678 | 5 |
0.155 | 6000 | 1 |
Last trade - 12.01pm 08/05/2024 (20 minute delay) ? |
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Last
12.8¢ |
  |
Change
-0.003 ( 0.00 %) |
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Open | High | Low | Volume | ||
12.8¢ | 13.0¢ | 12.8¢ | 256157 | ||
Last updated 13.57pm 08/05/2024 ? |
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CE1 (ASX) Chart |
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HARANGA RESOURCES LIMITED.
Peter Batten, MD
Peter Batten
MD
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