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Antares Energy has sold its Northern Star and Big Star assets in the Permian Basin.

Antares surges on Permian assets sale

Local oil and gas company Antares Energy has sold its two remaining assets in the Permian Basin in Texas to an undisclosed private equity buyer, for about $US250 million ($A360 million).

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Australia
Why does market not reflect the sale price of U$250m? Antares market capital is now just A$65m(=240m sharesxA$0.27). Antares has approximately A$50m debts.

Because the closure of the deals is not assured. Hence the market will only price in a probability (ie. less than 100% of its value) in the meantime.

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Share Price

Closing price for the last 90 trading days
Source: Morningstar

Total Shareholder Return as at 31/01/19

1 year TSR5 year TSR
75thLegend Mining41%28%
333rdRTG Mining-12%
501stFocus Minerals-39%-18%
568thWest African Resources-45%16%
848thBig Star Energy-100%-74%
726 WA (and selected non WA) listed companies ranked by 1 year TSR relative to other companies with similar revenue
Source: Morningstar

Share Transactions

23/05/18
$10k Bought
09/04/18
$422 Bought
09/04/18
$422 Bought
Total value as at the date of the transaction
Source: Morningstar

Revenue

170th↓Big Star Energy$417k
177th↓Focus Minerals$364k
178th↓Legend Mining$354k
180th↓RTG Mining$341k
181st↑West African Resources$325k
503 listed resources companies ranked by revenue.
Source: Morningstar

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