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Jupiter Energy sells biofuels site for $1m

THE biofuels bubble has burst for West Perth-based Jupiter Energy Ltd, which last week announced plans to sell its Malaysian subsidiary, Jupiter Biofuels Ltd, for $1 million. The decision comes just three months after the collapse of the company’s proposed $75 million spin-off of the project, capitalising on what had been one of the hottest sectors on the stock market in 2006. Jupiter said in an announcement that it was disappointed that the project was not able to get support from Australian capital markets. “The board has spent several months looking for alternative funding options without success and now believes that this outcome is in the best interests of (Jupiter) shareholders,” the company said. Malaysian company FEI Resources Sdn Bhd will buy 100 per cent of a wholly owned subsidiary of Jupiter, which holds all the various licences and contracts pertaining to the Malaysian project – Jupiter Biofuels Sdn Bhd – for five monthly payments of $50,000, as well as a $750,000 payment on or before July 21 this year.

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Share Price

Closing price for the last 90 trading days
Source: Morningstar

Total Shareholder Return as at 31/08/18

1 year TSR5 year TSR
222ndLion Energy33%-11%
362ndBuxton Resources6%-6%
497thToro Energy-10%-21%
770thJupiter Energy-56%-39%
791stWhitebark Energy-64%-29%
737 WA (and selected non WA) listed companies ranked by 1 year TSR relative to other companies with similar revenue
Source: Morningstar

Share Transactions

19/04/18
$0 Other
19/04/18
$0 Other
21/06/12
$145k Bought
Total value as at the date of the transaction
Source: Morningstar

Revenue

101st↓Toro Energy$1.6m
102nd↑Buxton Resources$1.5m
103rd↑Jupiter Energy$1.5m
104th↑Whitebark Energy$1.4m
105th-Lion Energy$1.4m
506 listed resources companies ranked by revenue.
Source: Morningstar

Remuneration from Jupiter Energy

165thGeoff Gander$576k
805thBaltabek Kuandykov$122k
Ranked by total remuneration from all listed WA companies

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