Each one in plain English, with the numbers worked through for a shareholder.
21 Apr 2008drilling scheduled● Neutral
West Seahorse-3 is expected to spud later this week, followed by Wardie-1 from the same location, with updates every Tuesday and Friday. The Pacific Titan has started the 2,200km T41-P seismic survey, expected to take about 20 days.
10 Apr 2008capital raising announcement● NeutralMajor
3D Oil raises $7.02m through a placement of 13.5m shares at 52c to institutional and sophisticated investors via Veritas Securities. Funds go to the West Seahorse and Wardie wells, a FEED study and working capital. It adds to the funding after the IPO's final call.
What it means for a shareholder
13.5m new shares at A$0.520 to raise about A$7.0m. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
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14 Mar 2008half year report● Neutral
Half-year report to 31 December 2007. Operations review repeats known facts: 100% of both permits, West Seahorse-3 expected to spud in April, Wardie comparable in size to West Seahorse, CNC and Worley Parsons development studies done. Financial figures not shown in the text.
6 Feb 2008drilling scheduled▲ Good
West Triton rig has arrived in Australia; West Seahorse-3 is expected to start late March, followed by Wardie-1. Development concept is a stand-alone unmanned wellhead platform with an onshore plant; a single well is assumed at 4,200 barrels a day initial rate over ten years.
4 Jan 2008security holder rights change● Neutral
The 47,542 forfeited shares were sold on market at an average 67c, raising $32,088. The company now has 193,060,000 fully paid shares on issue, all partly paid shares now being fully paid.
20 Dec 2007capital raising announcement▲ Good
Further payments bring total final-call funds to $16.49m, 99.96% of shares. The remaining 47,542 unpaid shares ($7,131) will be forfeited and sold. Closes out the final-call thread with almost full take-up.
13 Dec 2007capital raising announcement▲ GoodMajor
Final 15c call on partly paid shares received from 98% of the 110m shares, $16.23m, completing the $44m IPO funding. Shortfall of 1.81m shares ($271,727) faces forfeiture and sale. Company says it is fully funded for the West Seahorse-3 and Wardie drilling.
29 Nov 2007investor presentation● Neutral
AGM presentation repeating known facts: 100% of Vic/P57 and T41-P, West Seahorse 10.3 MMstb, Wardie prospect, final 15c call due 6 December, two West Triton slots in late Q1 2008, first production anticipated 2010. No new results.
22 Nov 2007director officer appointment● Neutral
Melanie Leydin resigned as a director of 3D Oil effective 22 November 2007. She continued as Company Secretary and Chief Financial Officer.
15 Nov 2007resource reserve update▲ Good
3D Oil says new mapping shows the Wardie prospect may be comparable in size to West Seahorse (10.3 MMstb). Wardie volumes are undiscovered and still uncertain. West Seahorse-3 and Wardie-1 to be drilled from one location late in Q1 2008 on West Triton.
6 Nov 2007other● Neutral
209,000 ordinary shares come out of ASX escrow on 15 November 2007 but stay under voluntary escrow until 22 May 2009. Administrative notice.
16 Oct 2007drilling scheduled▲ GoodMajor
Wardie prospect, 1km south-west of West Seahorse, will be drilled early 2008 ahead of Sea Lion because of lower risk. A discovery could use West Seahorse facilities. Resource estimates not yet prepared; West Seahorse-3 and Wardie-1 could be drilled from one location.
16 Oct 2007security holder rights change● Neutral
Timetable for the final 15c call on partly paid shares, due 6 December 2007. Partly paid trading ends 22 November; shares with payment still outstanding are forfeited on 20 December 2007.
28 Sept 2007annual report● Neutral
Annual report for year to 30 June 2007, first as a listed company. Says IPO and December 2007 call money will fund West Seahorse and Sea Lion drilling and T41-P seismic. West Triton rig is due in Victorian waters early 2008.
19 Sept 2007director officer appointment▲ GoodMajor
Peter Willcox, former BHP Petroleum chief executive (1986–94) and Telstra director, is named chairman from 5 November, on $120,000 a year plus 4 million options. Resolves the vacancy left by Ian Gorman's resignation.
7 Sept 2007director officer appointment▼ BadMajor
Chairman Ian Gorman resigns from 21 September 2007 due to ill health. Campbell Horsfall will act as chairman while a replacement is sought.
24 Aug 2007investor presentation● Neutral
August investor update repeating known facts: 100% of Vic/P57 and T41-P, West Seahorse 10.3 million barrels, final 15c call on 6 December 2007, first production anticipated early 2010. Market capitalisation about $78 million fully paid.
27 July 2007investor presentation● Neutral
Presentation on VIC/P57 repeating known facts: 100% of two permits, 10.3 million barrels at West Seahorse, two wells planned early 2008, first oil 2010. States the IPO raised $44 million.
11 July 2007other● Neutral
4,692,050 ordinary shares come out of ASX escrow on 21 July 2007 but stay under voluntary escrow until 22 May 2009. Administrative notice.
6 July 2007regulatory community update● Neutral
3D Oil signed a Heads of Agreement with five other companies to hire a 2D seismic vessel for Bass Basin permit T41-P. The Joint Authority granted a 12-month suspension of the Year 2 work commitment (2,200km of 2D seismic) because no vessel was available.
8 June 2007director officer appointment▲ Good
Jon Keall, ex-BHP Billiton with almost 20 years' experience, joins as exploration manager. Strengthens the technical team ahead of West Seahorse appraisal, planned January 2008, with production expected from 2009.
23 May 2007other▲ Good
Shares debuted on ASX closing 6% above the 25c issue price. The company reiterates 100% of VIC/P57 and West Seahorse (10.3 million barrels), with an appraisal well and then Sea Lion (up to 20.7 million barrels) planned early 2008.
21 May 2007other● Neutral
Top 20 holder list for the partly paid shares. The top 20 hold 65.12% of the 110,000,000 shares, led by HSBC Custody Nominees at 12.99%. Administrative.
21 May 2007other● Neutral
Company constitution lodged on ASX listing. It is the governing rulebook for shares, meetings, directors and dividends. No operational or financial news.
21 May 2007other● Neutral
Distribution schedule for the 110,000,000 partly paid shares, held by 533 holders as at 14 May 2007. Administrative listing document with no new information.
21 May 2007other▲ GoodMajor
ASX confirms 3D Oil was admitted to the Official List on 16 May 2007. Quotation of 110,000,000 partly paid shares (paid to 25c, 15c more due 6 December 2007) starts 22 May.
21 May 2007other● Neutral
Corporate governance compliance summary against ASX principles. Most recommendations are met; no nomination committee is set up, which the company says is not cost-effective given its size. Administrative disclosure only.
21 May 2007other● Neutral
Restricted securities summary: 110,000,000 partly paid shares (paid to 25c, 15c due 6 December 2007), 83,060,000 fully paid shares and 12,725,000 options at 50c or 60c expiring January 2011. Much of the stock is escrowed two years.
