17 July 2008drilling progress report● Neutral
Star Finch-1 report no. 8: blowout prevention equipment installed and pressure testing begun. Depth still 118m.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
16 July 2008drilling progress report▼ Bad
Star Finch-1 report no. 7: still installing blowout prevention gear, delayed waiting on double rams. Depth unchanged at 118m.
15 July 2008drilling progress report● Neutral
Star Finch-1 report no. 6: still installing blowout prevention equipment, depth unchanged at 118m. No drilling progress.
14 July 2008drilling progress report● Neutral
Star Finch-1 report no. 5: casing cemented at 114m and pressure tested; blowout prevention equipment being installed. Depth unchanged at 118m.
11 July 2008capital raising announcement▲ GoodMajor
DVM closed its prospectus fully subscribed, raising $750,000 before costs and gaining about 150 new shareholders. It believes it now meets the holder requirement and will seek ASX requotation. Resolves the 280-holder shortfall; the well is expected to reach its target within a week.
11 July 2008drilling progress report● Neutral
Star Finch-1 report no. 4: 9⅝-inch casing run to 114m; preparing to cement it and install blowout prevention equipment. No further drilling yet.
10 July 2008drilling progress report● Neutral
Star Finch-1 report no. 3: the 12¼-inch hole reached 118m, the casing point, and crews are preparing to run casing. No hydrocarbons expected at this depth.
9 July 2008capital raising announcement▲ Good
DVM says brokers advise enough applications under its 1 July 2008 prospectus will come in to seek re-listing on ASX. The closing date is extended to 15 July 2008. Continues the re-quotation effort after the share suspension.
9 July 2008drilling progress report● Neutral
Star Finch-1 report no. 2: drilling at 55m in limestones, with no hydrocarbons expected at this shallow level. Casing is planned at about 100m.
8 July 2008drilling spud▲ GoodMajor
Operator Empire says Star Finch-1 (EP 460) spudded at 0600 on 8 July 2008, drilling at 27m with DCA Rig 7. Planned total depth is 450m, targeting the Birdrong Sandstone at 390m. DVM holds 20%. This starts the long-awaited first well.
8 July 2008drilling spud▲ Good
DVM confirms Star Finch 1 began drilling on 8 July 2008, at 27m depth. It plans to close its prospectus before the well drills out of the casing and is working towards ASX re-quotation. Repeats the operator's spud news.
1 July 2008capital raising announcement● Neutral
A replacement prospectus dated 1 July 2008 replaces the 3 June one, and applications made under the old one will not be accepted and will be returned. The offer terms shown are unchanged: up to 3.75m shares at $0.20 with a free option, raising up to $750,000.
What it means for a shareholder
3.8m new shares at A$0.200 to raise about A$750,000. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
Create a free account to see this worked out for your own holding.
20 June 2008admin correction▼ Bad
DVM extended the closing date of its prospectus offer by 31 days to 21 July 2008. Holding statements are now expected 28 July and share trading reinstatement 4 August, both indicative. This delays the return to ASX trading.
17 June 2008drilling progress report● Neutral
Operator Empire says the camp and wellsite for Star Finch-1 (DVM 20%) are ready and most equipment is on site. Drilling will be announced once personnel are inducted. No spud yet, and no new result.
3 June 2008capital raising announcement● NeutralMajor
DVM offers up to 3.75m shares at $0.20, each with a free $0.20 option expiring 30 June 2010, to raise up to $750,000. It needs 400 holders with $2,000 parcels to be requoted and has 280. Shares are on a 1-for-7 consolidated basis.
What it means for a shareholder
3.8m new shares at A$0.200 to raise about A$750,000. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
Create a free account to see this worked out for your own holding.
3 June 2008drilling scheduled● Neutral
DVM's own release repeats the drilling plan: Star Finch-1 (DVM 20%) in June 2008, then Lake MacLeod-1 (DVM 10%) in July/August, drilled back to back with DCA Rig 7. Targets are unproven: about 50 Bcf of gas or 25 million barrels of oil at Star Finch, and 30 million barrels at Lake MacLeod.
3 June 2008drilling scheduled▲ Good
Operator Empire says Western Australian government and landholder approvals are in place. Star Finch-1 (DVM 20%) is due in June 2008, then Lake MacLeod-1 (DVM 10%) in July, with an optional Star Finch-2 appraisal well if there is a discovery. This firms up the timing that was pushed back in April.
13 May 2008other● Neutral
ANZ's schedule as at 12 May 2008 shows its Opes Prime-related DVM interest unchanged at 2,704,908 shares (9.868%).
12 May 2008other● Neutral
ANZ's schedule as at 9 May 2008 shows its Opes Prime-related DVM interest unchanged at 2,704,908 shares (9.868%).
9 May 2008other● Neutral
ANZ's schedule as at 8 May 2008 shows its Opes Prime-related DVM interest unchanged at 2,704,908 shares (9.868%).
8 May 2008other● Neutral
ANZ's schedule as at 7 May 2008 shows its Opes Prime-related DVM interest unchanged at 2,704,908 shares (9.868%).
7 May 2008director officer appointment● Neutral
Company Secretary Simon Headon resigned and Martin Stein, a chartered accountant who is company secretary of several other listed resource companies, was appointed with immediate effect. An administrative change.
7 May 2008other● Neutral
ANZ's schedule as at 6 May 2008 again shows its Opes Prime-related DVM interest unchanged at 2,704,908 shares (9.868%).
6 May 2008other● Neutral
ANZ's schedule as at 5 May 2008 shows its Opes Prime-related DVM interest unchanged at 2,704,908 shares (9.868%), now stated on post-consolidation share numbers (27.41m shares on issue). No company action.
5 May 2008other● Neutral
ANZ's schedule as at 2 May 2008 showed its Opes Prime-related interest in DVM unchanged at 2,704,908 shares, or 9.868% of 27,410,107 shares on issue.
2 May 2008other● Neutral
ANZ's schedule as at 1 May 2008 showed its Opes Prime-related interest in DVM unchanged at 2,704,908 shares, or 9.868% of 27,410,107 shares on issue.
1 May 2008other● Neutral
ANZ's schedule as at 30 April 2008 showed its Opes Prime-related DVM interest unchanged at 2,704,908 shares (9.868% of 27,410,107 issued), on post-consolidation numbers. The notes concerned Fairstar, Sundance and others, not DVM.
30 Apr 2008other● Neutral
ANZ's schedule as at 29 April 2008 shows its DVM interest unchanged. The only correction in the notes concerns Early Learning Services, not DVM.
29 Apr 2008other● Neutral
ANZ's schedule as at 28 April 2008 restated its Opes Prime-related DVM interest to 2,704,908 shares (9.868%) out of 27,410,107 issued. A footnote says DVM had recently consolidated its shares.
28 Apr 2008other● Neutral
ANZ's schedule as at 24 April 2008 again shows its Opes Prime-related DVM interest unchanged at 18,935,067 shares (9.895%).