Each one in plain English, with the numbers worked through for a shareholder.
21 Feb 2019regulatory community update● NeutralMajor
T/49P's Year 5 work commitment is suspended for 12 months, with the permit term extended; Year 6 ends 21 February 2021. 3D Oil has until 21 February 2020 to complete at least 750 km2 of 3D seismic, and proposes 1,580 km2 in September-October 2019, pending NOPSEMA approval.
25 Jan 2019quarterly activities report● Neutral
December quarter: WA-527-P test reprocessing and leakage evidence repeated from the 23 January update, with 3D seismic now planned late 2019 or early 2020. T/49P survey slips to late 2019 (was late 2018). VIC/P57 reprocessed data received for detailed analysis.
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.
30 Oct 2018quarterly activities report▲ Good
September quarter: possible Dorado look-alike structure identified on WA-527-P and talks with potential partners started; VIC/P57 reprocessed data shows better imaging at Felix; T/49P environmental planning continues. The A$3.0m raising completed. Cash was A$2.9m per the AGM presentation.
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.
26 July 2018quarterly activities report▲ Good
June quarter: Quadrant's Dorado-1 oil discovery, in a setting 3D Oil calls analogous to its 100% WA-527-P, lifts the permit's prospects, though how far it extends is uncertain. VIC/P57 reprocessed seismic received; T/49P seismic still planned late 2018; talks with potential farminees on all three permits.
30 Apr 2018quarterly activities report● Neutral
March quarter: T/49P 3D seismic (Dorrigo survey) still planned for late 2018, with the environmental plan being drafted and a well in 2019-early 2020 subject to funding and a partner. Farm-in talks continue with no deal. VIC/P57 renewed; WA-527-P farm-out being launched.
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.
30 Jan 2018quarterly activities report● Neutral
December quarter: T/49P 3D seismic preparation is under way, with a well planned for 2019 subject to funding and finding a partner. Farmout talks continue, no deal. VIC/P57 renewal awaited; new leads found in WA-527-P. Cash figures not shown in excerpt.
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.
27 Oct 2017quarterly activities report● Neutral
September quarter: NOPTA accepted on 16 October 2017 a swap of the T/49P Year 5 well with Year 6 seismic, so seismic now comes first. Farmout talks with large international companies continue, no deal. VIC/P57 renewal applied for; Pointer 235 Bcf, Felix 16 MMbbl.
