Pic: Yuichiro Chino / Moment via Getty Images
These ASX energy small caps have more than doubled in 2020
Energy
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The ASX energy sector has shrugged off some of the most significant economic impacts of recent times including negative oil prices and the hefty COVID-19 impact on demand.
Despite all of that the average performance of the ASX small cap energy sector is only a 2 per cent dip.
And a handful of energy stocks have actually even more than doubled their share prices.
Here’s a list of ASX energy stocks that have gained 100 per cent or more in 2020:
Swipe or scroll to reveal the full table. Click headings to sort.
Note: Excludes stocks that have pivoted to gold in 2020
| Code | Name | Market Cap | Price | YTD % Return | Market Cap |
|---|---|---|---|---|---|
| BUY | BOUNTY OIL & GAS NL | 15.25M | 0.015 | 300 | 15.25M |
| KKO | KINETIKO ENERGY LTD | 41.29M | 0.08 | 280 | 41.29M |
| AGE | ALLIGATOR ENERGY LTD | 10.07M | 0.006 | 200 | 10.07M |
| JPR | JUPITER ENERGY LTD | 4.14M | 0.03 | 145 | 4.14M |
| BNL | BLUE STAR HELIUM LTD | 14.86M | 0.02 | 129 | 14.86M |
| WEC | WHITE ENERGY CO LTD | 112.30M | 0.14 | 122 | 112.30M |
| ENX | ENEGEX LTD | 1.61M | 0.03 | 100 | 1.61M |
The top performers
2020’s best performer is Queensland-focused oil producer Bounty Oil & Gas (ASX:BUY) which is up 400 per cent in 2020.
The company has a 2 per cent stake in the Naccowlah Block in Queensland, where operator Santos (ASX:STO) has drilled eight wells in 2020, six of which have been cased for oil production and are awaiting tie-in to the production system.
While Bounty only has a small stake in Naccowlah, it still generated $594,000 in revenue in the March 2020 quarter.
It also has a 15 per cent interest in PEP 11 in the offshore Sydney Basin that is believed to host an active petroleum system.
South Africa-focused Kinetiko Energy (ASX:KKO) spent a couple of years suspended but timed its re-entry perfectly, recommencing trading in mid-May.
While Kinetiko is still at early stages with its Amersfoort project, it is about to start a high-resolution aeromagnetic survey on its flagship Amersfoort gas project after a lengthy hiatus of work on the project.
BUY & KKO share price chart
Uranium plays having their time in the sun
While oil and gas took the top spot, the sector did not have a monopoly on the full winners list.
Microcap Alligator Energy (ASX:AGE) has tripled in recent weeks with moves to buy a South Australian uranium project.
There has been significant hype about the uranium sector this year. There have been signs, particularly the rise in spot prices, that the industry could be entering a new era after several years in the doldrums.
Another industry piquing investor interest is helium and Blue Star Helium (ASX:BNL), one of only a couple of helium plays on the ASX, has more than doubled this year.
Rounding out the list is Queensland coal company White Energy Company (ASX:WEC) and one of the ASX’s more perculiar stories in 2020: Jupiter Energy (ASX:JPR).
BNL, WEC & JPR share price chart
The mystery behind the share price surge
In mid April, Jupiter rose from 0.2c to as high as 34.5c in less than two trading days off the back of no news and during the week oil prices slipped into negative territory.
The Kazakhstan-focused oil play said it had nothing to add to news it had announced a week earlier. The company has been selling barrels of oil but the cash has been slow to reach their coffers because sales are amortised over several months.
Since April, Jupiter has retreated to 3c but is still substantially higher than it was at the start of 2020.
