Past year: ▼ 2%(1.80c – 3.60c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
22 Aug 2025director officer appointment● NeutralMajor
Chairman Philip Byrne, in the role since August 2021, retired from the board on 22 August 2025. Director Joanne Williams, on the board since 2021, becomes Non-Executive Chair. The board is now three members: Williams, Ashley Gilbert and Dr Stephen Staley.
18 Aug 2025asset acquisition disposition● NeutralMajor
88 Energy signed a binding deal to sell its Longhorn Permian interest to operator Lonestar for US$3.25m, effective 1 July 2025, after Lonestar matched a third party's offer. It ends exposure to ~US$2m-per-well drilling costs; proceeds go to Alaska and Namibia.
1 Aug 2025security holder rights change● Neutral
Small holding sale result: 1,419 holders (10.35m shares) chose to keep their shares, and 860 others sold or topped up. The remaining 46,141,266 shares will now be sold by Euroz Hartleys.
22 July 2025quarterly activities report● Neutral
June quarter: cash A$8.05m. Formal award of four extra Leonis leases (~10k acres) received. Phoenix spud now targeted Q2/Q3 2026. Longhorn fell to 309 BOE/d, with sale negotiations with a third party progressing but not final.
2 July 2025joint venture update▲ GoodMajor
Namibia granted a 12-month extension of PEL 93 to 2 October 2026. A new Stage 1A programme (airborne gravity survey, resource report) is funded 50:50 with Monitor up to US$1m. Lead 9 (~100 sq km) is a priority; this advances the earlier ten-lead work.
18 June 2025security holder rights change● Neutral
Letter to small holders explaining the sale facility: do nothing to sell, or return a retention form by 30 July 2025 to keep shares. The company pays the brokerage. Repeats the 16 June announcement.
16 June 2025security holder rights change● Neutral
Sets up a sale facility for holders of parcels under A$500 (21,739 or fewer shares at A$0.023). About 8,329 of 12,113 holders qualify, together holding about 5.64% of shares. The company says it is to cut administration costs.
13 May 2025admin correction● Neutral
Updated Appendix 3A.3 confirming the completed consolidation, with final post-consolidation figures adjusted for fractional rounding (1,157,350,417 shares). Administrative update with no new news.
13 May 2025security holder rights change● Neutral
The 1-for-25 consolidation is complete: shares fall from about 28.93bn to about 1.157bn. Listed options now exercise at A$0.1875 and warrants at £0.0975. Completes the process approved on 6 May.
6 May 2025security holder rights change● Neutral
Shareholders approved the 1-for-25 share consolidation on 6 May 2025, as proposed in April. Post-consolidation trading starts on a deferred settlement basis on 8 May.
17 Apr 2025quarterly activities report● Neutral
March quarter: cash A$10.6m after Burgundy's A$5.1m payment. Longhorn fell to 342 BOE/d and the company is exploring selling its interest to cut capex exposure. Phoenix farm-out and Leonis Tiri-1 (Q1 2026) plans are unchanged.
4 Apr 2025agm notice● Neutral
Letter to shareholders about the 6 May 2025 AGM in Perth, explaining that the notice of meeting is online and encouraging proxy votes. Administrative only, no company news.
4 Apr 2025security holder rights change● NeutralMajor
Proposes a 25-for-1 share consolidation, cutting about 28.9bn shares to about 1.157bn, subject to shareholder approval at the 6 May 2025 AGM. Options and warrants are adjusted too; listed option exercise price goes from A$0.0075 to A$0.1875.
31 Mar 2025joint venture update▲ Good
Burgundy paid the final US$2.2m (A$3.4m) of the overdue Hickory-1 flow test cash call, on top of US$1m in February, settling the balance. Cash is now over A$10m. The Phoenix horizontal well is planned for mid-2026, and the carry still depends on Burgundy raising capital in 2025.
12 Mar 2025agm notice● Neutral
Notice that the AGM will be held on 6 May 2025 in Perth, with a director to be elected. Director nominations close 19 March 2025. Administrative notice only.
11 Mar 2025annual report● Neutral
Appendix 4G and corporate governance statement for 2024, lodged with the annual report. Administrative filing with no company news.
11 Mar 2025annual report● Neutral
2024 annual report. The chairman says the share price has not reflected technical successes such as the Hickory-1 flow test, Leonis resource and ten Namibian closures. The visible text shows no new financial figures.
18 Feb 2025investor presentation● Neutral
February 2025 investor presentation; the visible text is only the disclaimer and cover, with no new figures or news.
17 Feb 2025farm in farm out agreement▲ GoodMajor
Binding terms agreed for Burgundy to fund up to US$39m of Phoenix costs for up to 50% more interest. Phase 1 (US$29m) carries the 2025/26 horizontal well and cuts 88E from ~75% to 35%. This resolves the Burgundy carry talks, but depends on Burgundy raising capital in 2025.
30 Jan 2025resource reserve update▲ GoodMajor
Maiden internal prospective resource for the Canning prospect at Leonis: 283 MMbbl net mean (unrisked). Combined with the Upper Schrader Bluff prospect, Leonis totals 664 MMbbl net mean. Tiri-1 targets both zones, scheduled H1 2026, depending on finding a farm-out partner.
21 Jan 2025quarterly activities report● Neutral
December quarter: cash A$7.2m (up from A$5.5m, source of the increase not shown in the visible text). Longhorn output fell to 358 BOE/d from 391 after a gas plant incident. Burgundy paid US$1m of its US$4m cash call; Tiri-1 targets a Q1 2026 spud.
31 Dec 2024joint venture update● Neutral
Burgundy paid US$1m of its US$4m overdue cash call; the deadline for the remaining US$3m moved to 15 February 2025 with a US$100,000 extension fee. Burgundy still wants to carry 88E's 2025/26 costs for extra interest; terms are under review.
12 Dec 2024asset acquisition disposition▲ GoodMajor
88E was declared highest bidder on four lease blocks (about 10,203 acres) next to Project Leonis, taking it to 14 leases and about 35,634 acres, targeting a new Canning prospect. Formal award is expected 1H 2025; a well is planned for 1H 2026.
10 Dec 2024drilling result▲ Good
Monitor's first interpretation of the PEL 93 seismic confirms 10 structural closures, some up to about 100 km2. 88E must validate this independently; a prospective resource estimate is targeted for 1H 2025. Further seismic is possible, including over a new lead 11.
31 Oct 2024drilling result▲ Good
Processing of the 203 line-km of PEL 93 seismic is finished, showing good data quality and significant structures not yet interpreted in-house. Interpretation with partner Monitor starts soon; a maiden prospective resource is now aimed for Q1 2025 (earlier guidance said H1 2025).
29 Oct 2024quarterly activities report● Neutral
September quarter: cash fell to A$5.5m; all Hickory-1 test bills are paid. Burgundy owes about US$4m in Q4. Longhorn averaged 395 BOE/d, below the 450-460 expected after downtime. Namibia resource now expected H1 2025. Corporate costs down over 30% year to date.
10 Oct 2024investor presentation● Neutral
October 2024 presentation repeating the September Phoenix resource upgrade (378 MMBOE gross 2C) and farm-out plans. Shows 28.9bn shares, share price A$0.002 and market cap about A$57.9m. Nothing new on operations.
18 Sept 2024resource reserve update▲ GoodMajor
Independent ERCE contingent resources for the SMD-B and SFS reservoirs add 128 MMBOE gross (81 net) to Phoenix, lifting 2C by over 50%. Combined with the BFF, Phoenix 2C is about 378 MMBOE gross (239 net). Formal farm-out to start Q4 2024.
2 Sept 2024half year report● Neutral
Half-year report to 30 June 2024. The visible text recaps the Hickory-1 flow test results (peak ~70 and ~50 bopd) and the Texas production assets; the truncated text shows no new figures.
19 Aug 2024joint venture update● NeutralMajor
Partner Burgundy committed to pay US$0.35m soon, and 88E extended its standstill on the roughly US$3m flow-test cost to 31 Dec 2024, rather than taking half of Burgundy's interest. Burgundy is also in talks to carry 88E's 2025/26 horizontal well costs for more interest; no guarantee. Contingent resource due Q4.
