市场见解

Pure Hydrogen (ASX:PH2) share price plunges 9% despite ‘excellent results’

The energy company’s share price is in the red today.
The post Pure Hydrogen (ASX:PH2) share price plunges 9% despite ‘excellent results’ appeared first on The Motley Fool Australia. –

Shares in Pure Hydrogen Corporation Ltd (ASX: PH2) are losing ground in afternoon trade today and are now almost 9% down at 40.5 cents apiece.

The plunge comes even as there is no market-sensitive information from the company. Although Pure Hydrogen did provide an update on its Botswana Serowe gas project. Read on for more.

What did Pure Hydrogen announce?

Pure Hydrogen advised that it encountered significantly more coal than pre-drill estimates at its gas project in Botswana.

Specifically, its Serowe 4 well encountered 31 metres of interpreted gassy coal seams, a result more than 150% thicker than predrilled estimates.

Further, its Serowe 5 well is spudded and is proceeding ahead with the depth of the well at 350 metres. It says the well will be drilled to total depth, which is estimated at 470 metres, after which logs will be run for the well.  

As a result of the thicker coals encountered at Serowe 4, the cost of “proving a multi Trillion Cubic Feet coal seam gas field in central southern Africa can be substantially reduced”.

The release notes that the Botswana Serowe Gas Project has received third-party certified 2C resources of 160.6 billion cubic feet and Prospective Resources of 10.07 trillion cubic feet.

As previously stated by the company in November, the estimates of Contingent Resources for the project were “prepared in accordance with the 2018 Petroleum Resources Management System (PRMS)”.

The “Contingent Resources” will be revised again in 2022 after the results of Serowe 4 and 5, per the announcement.

Pure Hydrogen also advised it is progressing its joint venture with Botala within Southern Africa and has “identified potential offtake parties and sites that could be used for a Hydrogen Business”.  

Investors can expect further details of these initiatives in the coming weeks, according to the announcement.

Speaking on the release today, Pure Hydrogen Managing Director Scott Brown mentioned:

The Serowe Gas Project is shaping up well with the continuation of excellent results to date from the multi-well appraisal program, particularly the much thicker gassy coal seams in Serowe 3 and now Serowe 4.

Pure Hyrdrogen share price snapshot

Despite today’s dip, the Pure Hydrogen share price has gained more than 406% in the past 12 months after rallying another 360% this year to date.

Yet, in the past month, it has fallen 21% in the red and is also down more than 13% in the last week of trading.

The post Pure Hydrogen (ASX:PH2) share price plunges 9% despite ‘excellent results’ appeared first on The Motley Fool Australia.

Should you invest $1,000 in Pure Hydrogen right now?

Before you consider Pure Hydrogen, you’ll want to hear this.

Motley Fool Investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Pure Hydrogen wasn’t one of them.

The online investing service he’s run for nearly a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.* And right now, Scott thinks there are 5 stocks that are better buys.

*Returns as of August 16th 2021

More reading

Why are ASX hydrogen shares tumbling today?

Pure Hydrogen (ASX:PH2) share price rebounds 5% on project upgrade

Why did the Pure Hydrogen (ASX:PH2) share price sink 9% today?

Pure Hydrogen (ASX:PH2) share price leaps 9% as first plant set to be operational next year

Pure Hydrogen (ASX:PH2) share price rockets 25% amid major plant production news

The author has no positions in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

随时随地,交易世界!

移动APP平台,拥有 12 个市场的 50,000 多种全球上市证券(全球市值超过 70%),直接在您的 Android 或 iOS 设备上即可操作。

与独有的交易理念和投资分析工具相结合,帮助您在我们 12 个全球市场中的几乎所有金融工具上找到可操作的见解,从而帮助您优化交易策略。

推荐给您的朋友

向您的朋友推荐Monex并赠予他们免费使用我们交易工具的机会

我们尊重您的隐私,只会向您的朋友发送一封邮件 

与您的朋友分享

Share on facebook
Share on twitter
Share on linkedin

Monex Trading Tools Access and Usage Terms

The Monex Trading Tools (referred to as ‘tools’ hereafter) are available to you inside your client portal;


To activate access to the tools, you must have a verified and approved trading account and have made a deposit of at least AUD $1000.


An active and funded account with a positive trading balance is required to continue to have access to the tools;


Although the tools are available to you indefinitely, Monex Securities may at it’s discretion disable access to the tools in the future;


Monex securities reserves the right to change these terms and conditions from time to time, as it sees fit, without notice.

Important Notice
iOS & Android App - 12 International Markets & Over 70% Global Market Cap. $0 Brokerage On US Trades. Click Here!