88 Energy Limited (AU:88E)
ASX:88E
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88 Energy
(Sydney:88E)
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Rating:46Neutral
Price Target:
AU$0.03
▲(25.00% Upside)
Action:ReiteratedDate:04/03/26
The score is held down primarily by very weak financial performance (no meaningful revenue, persistent losses, and ongoing cash burn with a shrinking equity base). Technical indicators are more balanced and provide modest support, but valuation remains unfavorable/unclear due to negative earnings and no dividend yield data.
Positive Factors
Low Reported Leverage
Zero reported debt across recent years materially lowers interest and covenant risk for an exploration company. This durable low-leverage profile preserves solvency optionality, helping 88 Energy pursue farm-outs or staged funding without near-term debt service constraints, improving strategic flexibility over months.
Negative Factors
No Meaningful Revenue
An absence of operating revenue leaves 88 Energy unable to self-fund exploration and corporate overhead, creating persistent reliance on external capital or asset disposals. Over months this structural revenue deficit magnifies funding risk and makes long-term operational sustainability contingent on financing success.
Read all positive and negative factors
Positive Factors
Negative Factors
Low Reported Leverage
Zero reported debt across recent years materially lowers interest and covenant risk for an exploration company. This durable low-leverage profile preserves solvency optionality, helping 88 Energy pursue farm-outs or staged funding without near-term debt service constraints, improving strategic flexibility over months.
Read all positive factors
88 Energy (88E) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$31.94M
Dividend YieldN/A
Average Volume (3M)1.09M
Price to Earnings (P/E)―
Beta (1Y)1.35
Revenue GrowthN/A
EPS Growth29.12%
CountryAU
Employees10
SectorEnergy
Sector Strength52
IndustryOil & Gas Exploration & Production
Share Statistics
EPS (TTM)-0.03
Shares Outstanding1,330,953,000
10 Day Avg. Volume1,369,830
30 Day Avg. Volume1,086,866
Financial Highlights & Ratios
PEG Ratio>-0.01
Price to Book (P/B)0.29
Price to Sales (P/S)0.00
P/FCF Ratio-6.50
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)>-0.01
Revenue Forecast (FY)N/A
88 Energy Business Overview & Revenue Model
Company Description
88 Energy Limited explores for oil and gas properties in the United States. It primarily holds a 75% working interest in the Icewine project, which covers an area of approximately 193,000 acres located in North Slope of Alaska, the United States; ...
How the Company Makes Money
88 Energy’s business model is typical of an exploration-led upstream company: it seeks to create value by identifying prospective oil and gas targets, securing licenses/leases, and advancing those assets through technical work (e.g., seismic inter...
88 Energy Financial Statement Overview
Summary
Income Statement
12
Very Negative
Balance Sheet
48
Neutral
Cash Flow
18
Very Negative
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 0.00 | 0.00 | 0.00 | 2.50K | 4.45K |
| Gross Profit | -90.72K | -79.05K | -64.23K | -60.31K | 4.36M |
| EBITDA | -4.52M | -31.28M | -16.04M | -73.98M | -1.13M |
| Net Income | -52.91M | -32.82M | -14.44M | -70.72M | -2.41M |
Balance Sheet | |||||
| Total Assets | 87.98M | 148.99M | 156.53M | 133.03M | 145.78M |
| Cash, Cash Equivalents and Short-Term Investments | 6.82M | 7.20M | 18.18M | 14.12M | 32.32M |
| Total Debt | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Total Liabilities | 362.67K | 356.79K | 840.04K | 1.35M | 5.94M |
| Stockholders Equity | 87.62M | 148.64M | 155.69M | 131.68M | 139.84M |
Cash Flow | |||||
| Free Cash Flow | -3.91M | -28.73M | -35.29M | -188.20M | -47.44M |
| Operating Cash Flow | -3.91M | -3.41M | -5.38M | -135.55M | -5.65M |
| Investing Cash Flow | 4.07M | -17.38M | -23.67M | -57.84M | 3.15M |
| Financing Cash Flow | 0.00 | 9.03M | 33.09M | 43.90M | 19.09M |
88 Energy Peers Comparison
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
78 Outperform | AU$53.00M | -5.06 | 4.88% | ― | 53.56% | -67.96% | |
65 Neutral | $15.17B | 7.61 | 4.09% | 5.20% | 3.87% | -62.32% | |
52 Neutral | AU$28.77M | 3.49 | 30.01% | ― | -22.76% | ― | |
49 Neutral | AU$30.26M | -4.02 | -6.67% | ― | ― | -220.00% | |
46 Neutral | AU$31.94M | -0.48 | -50.55% | ― | ― | 29.12% | |
44 Neutral | AU$41.94M | -29.16 | -15.00% | ― | ― | 40.00% | |
39 Underperform | AU$19.05M | -2.75 | -35.17% | ― | ― | ― |
* Energy Sector Average
AU:88E
88 Energy
0.02
<0.01
9.09%
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88 Energy Corporate Events
88 Energy Sets Date for 2026 AGM and Director Nomination Deadline
Apr 1, 2026
88 Energy Limited has scheduled its Annual General Meeting for 26 May 2026 at Quest Kings Park in Perth, Western Australia. The meeting will include the election of a director under ASX Listing Rule 14.5, with details of the candidate to be provid...
88 Energy Advances Augusta-1 Planning on Alaska’s South Prudhoe Acreage
Mar 29, 2026
88 Energy has begun permitting and planning for its Augusta-1 exploration well on its South Prudhoe acreage on Alaska’s North Slope, where it holds a 100% working interest and a 16.7% royalty burden. The well, located in the North-West Lease...
88 Energy details major proposed securities issue to fund future activities
Mar 26, 2026
88 Energy Limited has lodged an Appendix 3B outlining a proposed issue of securities via a placement or similar mechanism. The company plans to issue up to 173,602,563 new fully paid ordinary shares, 74,655,180 unlisted options exercisable at $0.0...
88 Energy Plans Issue of 28.9 Million Unlisted Options
Mar 26, 2026
88 Energy Limited has notified the market of a proposed issue of 28,933,761 unlisted options or warrants as part of a placement or similar capital-raising structure. The options will be exercisable at $0.0435 and will expire three years from the d...
88 Energy raises A$5 million to fast-track Augusta-1 drilling in Alaska
Mar 26, 2026
88 Energy has raised approximately A$5 million through a heavily oversubscribed share placement to domestic and offshore institutional and sophisticated investors at A$0.029 per share. The strong demand reflects investor endorsement of the company...
88 Energy Requests ASX Trading Halt Ahead of Capital Raising Announcement
Mar 24, 2026
88 Energy has requested a trading halt in its securities on the ASX as it prepares an announcement regarding a capital raising. The halt, granted by ASX Compliance, will remain in place until the company releases the planned capital-raising announ...
88 Energy Files Appendix 4G, Affirms Compliance With ASX Governance Standards
Mar 23, 2026
88 Energy has lodged its Appendix 4G with the ASX for the financial year ended 31 December 2025, confirming that its corporate governance statement is current as of that date and available on the company’s website. The filing outlines that t...
88 Energy says no undisclosed news behind ASX price and volume surge
Mar 9, 2026
88 Energy has told the ASX it is unaware of any undisclosed information that could explain a sharp move in its share price and trading volumes. The stock climbed from A$0.022 at the close on 6 March to an intraday high of A$0.045 on 9 March, promp...
88 Energy Expands Alaskan North Slope Position and Refocuses Portfolio on Higher-Value Assets
Jan 30, 2026
88 Energy has materially expanded its operated footprint on Alaska’s North Slope by securing 14 new leases over 34,560 acres at 100% working interest, consolidating its South Prudhoe position with Project Leonis into a 52,269-acre contiguous...
88 Energy Secures Schrader Bluff 3D Seismic to Advance South Prudhoe Exploration
Jan 26, 2026
88 Energy has secured access to the Schrader Bluff 3D seismic survey recently released by Alaska’s Department of Natural Resources, significantly enhancing subsurface imaging and technical understanding across its South Prudhoe leases on the...
88 Energy Managing Director Increases Shareholding via On-Market Purchase
Jan 5, 2026
88 Energy Limited has disclosed a change in the holdings of Managing Director Ashley Gilbert, who increased his direct stake in the company by purchasing 529,400 fully paid ordinary shares on-market at A$0.023 per share on 30 December 2025. Follow...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
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This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.