Each one in plain English, with the numbers worked through for a shareholder.
23 Jan 2019regulatory community update▲ Good
Test reprocessing of one 2D line supports a Dorado-style erosional channel in western WA-527-P, and possible hydrocarbon leakage signs suggest oil charge. Company says several majors are conducting due diligence on a farm-out; none signed. Resource estimate (349 MMbbl) unchanged.
23 Nov 2018director officer appointment● Neutral
Stefan Ross appointed joint company secretary alongside Melanie Leydin, from 23 November 2018. He has over 9 years of ASX-listed company accounting and secretarial experience. Administrative change.
2 Nov 2018investor presentation● Neutral
AGM presentation repeats known points: A$3m raising at A$0.115, WA-527-P next to Dorado-1, T/49P 10 TCF. Shows 264.8m shares, cash A$2.9m at 30 September, no debt, price A$0.105 and market cap A$27.8m.
24 Oct 2018regulatory community update▲ Good
Review of open-file seismic finds possible Dorado-like erosional channels on the western side of WA-527-P; reprocessing of 2D lines has begun to guide 3D seismic placement. Interpretation is early and the 349 MMbbl best estimate is unchanged. Several major parties are said to be interested.
2 Oct 2018annual report● Neutral
Glossy 2018 annual report re-presents the year. The chairman's letter says WA-527-P was won as the only bidder and farm-in talks have begun but he prefers not to be rushed; T/49P is described as a potential company-maker (10 TCF best estimate). Financials not shown in the excerpt.
28 Sept 2018capital raising announcement▲ Good
Share purchase plan closed 26 September with applications for 4,374,170 shares at A$0.115; all accepted, raising A$503,030 on top of the A$2.5m placement. Completes the roughly A$3.0m raising; allotment is due 3 October.
What it means for a shareholder
4.4m new shares at A$0.115 to raise about A$503,030. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
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27 Sept 2018other● Neutral
Corporate governance checklist (Appendix 4G) lodged with the annual report, pointing to the governance statement on the company website. Administrative filing with no new information on assets or finances.
27 Sept 2018annual report● Neutral
Annual report to 30 June 2018 repeats known points: WA-527-P (100%, ~6,500 km2, 15+ leads, 349 MMbbl unrisked best estimate) sits next to Dorado-1, and farm-out talks with several oil companies continue. Financial statements are not shown in the excerpt.
12 Sept 2018capital raising announcement● Neutral
Share purchase plan opens at A$0.115, letting eligible holders buy up to A$15,000 each, closing 26 September. It is underwritten by Safari Capital up to A$500,000. Mechanics of the 5 September raising; no new terms.
5 Sept 2018investor presentation● Neutral
Capital raising presentation repeating the A$3.0m raise at A$0.115: A$1.5m for WA-527-P seismic and prospectivity update, A$0.8m for seismic planning, A$0.5m working capital, A$0.2m costs. Market cap A$31.1m at A$0.130; cash A$1.0m at 30 June.
5 Sept 2018capital raising announcement▲ GoodMajor
3D Oil raises about A$3.0m at A$0.115 per share: a A$2.5m oversubscribed placement plus a roughly A$0.5m underwritten share purchase plan. Its first raising since 2008, it funds WA-527-P seismic purchase and planning, ending the no-dilution stance.
3 Sept 2018listing compliance notice● Neutral
ASX paused trading in 3D Oil pending a further announcement. Administrative notice; the reason is not stated in the text (the capital raising followed two days later).
15 Aug 2018admin correction● Neutral
Second amended re-release of the 15 August WA-527-P update, with corrected author spelling, a source reference on the resource table and an added risk caveat on undiscovered resources. No new results.
15 Aug 2018admin correction● Neutral
Amended re-release of the 15 August WA-527-P update; the visible change is a correction of the Carnarvon managing director's name to Adrian Cook. Resource figures and conclusions are unchanged.
15 Aug 2018regulatory community update▲ Good
Further analysis after Dorado-1 suggests Caley and Milne sand responses across the south-west of WA-527-P and a migration model pointing to oil reaching its western side. The 349 MMbbl best estimate (unrisked, three leads) is unchanged; leads will anchor the farm-out campaign.
1 Aug 2018investor presentation● Neutral
August investor update leans on the Dorado-1 discovery next to WA-527-P. Shows cash of A$1.0m at 30 June 2018 (down from $2.0m), no debt, 239.1m shares, price A$0.11, market cap A$26.3m. No new deals or results.
21 Mar 2018investor presentation● Neutral
March 2018 investor update repeats T/49P's 10 TCF estimate, the 100% WA-527-P and 24.9% VIC/P57 holdings, and says several farm-out processes are under way. No new information or deals shown in the excerpt.
9 Mar 2018half year report● Neutral
Half-year report to 31 December 2017 repeats known points: T/49P seismic swap approved, 3D seismic preparation, farmout talks with no deal, VIC/P57 renewed and WA-527-P leads. Financial statements are not shown in the excerpt.
7 Mar 2018regulatory community update▲ GoodMajor
The VIC/P57 joint venture, in which 3D Oil holds 24.9%, was granted a five-year permit renewal, resolving the open renewal thread. First three years are studies and 230 km2 of seismic reprocessing to ready the Felix and Pointer prospects; a well is a later commitment.
26 Feb 2018resource reserve update▲ GoodMajor
Review of WA-527-P identifies over fifteen oil leads, with three leads totalling a best estimate of 349 MMbbl of prospective oil (unrisked arithmetic total). 3D Oil will start a farm-out campaign this quarter. First resource estimate for this permit, which has no wells.
23 Jan 2018regulatory community update● Neutral
3D Oil says planning is underway for 3D seismic in T/49P, possibly in late 2018 over the central and southern area, to add drillable prospects for 2019. The release otherwise covers Otway Basin activity by others; no deal or new resource.
7 Dec 2017investor presentation● Neutral
December investor presentation repeats T/49P's 10 TCF best estimate, WA-527-P and VIC/P57 at 24.9%, and says several farmout processes are underway. No new results or deals; last capital raising was 2008.
2 Nov 2017investor presentation● Neutral
AGM presentation: cash was $2.0m at 30 September 2017 with no debt, down from $3.57m a year earlier. Shares were A$0.066, up 106% over 12 months, market cap $15.7m. Newell holds 17.9%. No new announcements; no equity raised since 2008.
2 Oct 2017annual report● Neutral
2017 annual report (re-lodged, following the 17 August version) pitches T/49P's roughly 10 TCF best estimate and the east coast gas shortage. It says large international companies are engaging on a farmout of the 100% interest, a time-consuming process. Financials not shown in excerpt.
17 Aug 2017annual report● Neutral
Appendix 4G governance checklist lodged with the 2017 annual report, pointing to the governance statement on the company website. Administrative; no business information.
17 Aug 2017annual report● Neutral
2017 annual report for year to 30 June 2017 restates 100% of T/49P, the roughly 10 TCF best-estimate upgrade and the continuing farmout talks. Excerpt is truncated; financial figures not shown.
27 July 2017resource reserve update▲ GoodMajor
June quarter: T/49P best-estimate prospective resource upgraded to about 10 TCF of recoverable gas (Flanagan trimmed to 1.34 TCF; central and southern leads 8.7 TCF). VIC/P57 Pointer gas prospect 235 Bcf and Felix oil 16 MMbbl; JV will renew the permit. Farmout continues.
29 Mar 2017asset acquisition disposition▲ GoodMajor
3D Oil was awarded WA-527-P, a 6,590 km2 Roebuck Basin permit in Western Australia, at 100%, from its December 2016 bid. Commitment is studies then 510 km2 of 3D seismic in Year 3; a well in Year 5 (about $30m estimated). It plans to seek a farm-in partner.
13 Mar 2017half year report● Neutral
Half-year report to 31 December 2016 repeats Beach's planned exit, taking 3D Oil to 100% of T/49P, and says NOPTA moved the Year 4 well commitment to Year 5. The farmout is described as progressing well, no deal. Financials not shown in excerpt.
31 Jan 2017quarterly activities report● NeutralMajor
December quarter: Beach Energy will withdraw from T/49P and assign its 30% to 3D Oil for nil consideration, lifting 3D Oil to 100%. The farmout continues with no deal, and 3D Oil bid in the December offshore acreage round. Operating cash outflow was $556k.
