Past year: ▼ 20%(10.0c – 12.5c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
31 July 2015quarterly activities report● Neutral
June quarter: about $13m in cash and marketable securities at 30 June. Tawallah play and NT pipeline tender updates repeated, and the Ripple Resources lead-zinc tenements (20,000 km2) highlighted. Shares 304.6m, market cap $15.2m at 5c.
17 July 2015investor presentation● Neutral
CEO's Noosa conference presentation repeats the gas shortage and acreage story (139,000 km2). It cites $14m in cash and liquid securities and 303m shares. The extract shows no new results or deals.
15 July 2015joint venture update● NeutralMajor
Lakes Oil said Armour has served notice to move resolutions removing two Lakes directors, Executive Chairman Rob Annells and Barney Berold. A Lakes shareholder meeting is due in September 2015. Armour holds about 19.99% of Lakes, its partner in Victorian permits.
2 July 2015price query● Neutral
Asked about a price rise on 1 July, Armour said it knew of no undisclosed news. It pointed to tax-loss selling reversing, the NT gas pipeline tender, press speculation about US interest in the McArthur Basin (no talks with Armour), and the Victorian inquiry.
13 May 2015other● Neutral
DGR Global's own business update, not an Armour release. It repeats the Tawallah play and says farm-out talks on Armour's Qld and NT gas projects continue. DGR holds 25% (75m shares). No new Armour information.
7 May 2015security holder rights change● Neutral
300,000 unlisted 50c employment options expired on 7 May 2015. Administrative only.
30 Apr 2015quarterly activities report▲ Good
March quarter: $9.4m R&D rebate received, cash $10.4m at 31 March. The Qld work-program cut is repeated. NT pipeline shortlist of four bidders noted; partner talks continue. Shares 303.4m, market cap $19.7m at 6.5c.
29 Apr 2015resource reserve update▲ GoodMajor
A CSIRO study found good oil and wet-gas source rock (organic content up to 7.7%) in the Tawallah Group beneath Armour's NT permits, a new play estimated over 52,000 km2. No resource figure yet; more sampling is underway before an estimate.
20 Apr 2015security holder rights change● Neutral
625,000 employee performance shares and 625,000 performance rights expired on 20 April 2015, three years after issue. Administrative only.
17 Apr 2015investor presentation● Neutral
CEO presentation at the UGAS conference repeats the east coast gas shortage and acreage story. It shows 31 Dec 2014 cash of $1.5m plus the $9.1m net rebate, 303.1m shares, and a $17m market cap at 5.6c. No new results.
16 Apr 2015security holder rights change● Neutral
1,000,000 unlisted 50c employment options expired on 16 April 2015, three years after issue. Administrative only.
30 Mar 2015regulatory community update▲ GoodMajor
The approved R&D rebate arrived: $9.39m cash ($9.1m net of costs), resolving the January cash concern. Armour can claim again for FY15 and FY16 spending and says it strengthens its push to find partners for the next exploration stage.
13 Mar 2015half year report▼ Bad
Half-year to 31 Dec 2014: loss of $1.28m, against a $0.77m profit a year earlier. Highlights repeat known items: Egilabria 2 testing finished, Glyde 3D survey done, Otway-1 postponed by the Victorian moratorium, R&D rebate approved. Remainder of text truncated.
12 Feb 2015security holder rights change● Neutral
2,000,000 unlisted 50c employment options expired on 12 February 2015. Administrative only.
11 Feb 2015regulatory community update▲ GoodMajor
Queensland's mines department approved a lighter minimum work program for 100%-owned ATP1087, favouring gas-extraction trials and sweet-spot mapping over many expensive exploration wells. This follows the 2-year extension to 31 Dec 2018 and reduces near-term spending needs.
6 Feb 2015security holder rights change● Neutral
1,400,000 unlisted 50c employment options expired on 6 February 2015. Administrative only.
30 Jan 2015quarterly activities report● Neutral
December quarter: the approved R&D rebate is expected this quarter but is excluded from reported cash. Shares 302.2m, market cap $15m at 5c, down from 9c. The new Queensland tenders and Aeon MOU are repeated; partner talks continue with no deal.
15 Jan 2015asset acquisition disposition▲ GoodMajor
Armour was named preferred tenderer for Queensland land releases PLR 2014-1-2 and 2014-1-3, adding about 5,400 km2 southwest of ATP1087, near the Lawn and Riversleigh shales. Native title agreements and environmental clearances are needed before permits are granted.
14 Jan 2015regulatory community update▲ GoodMajor
Ausindustry reversed its 26 Sep rejection and approved Armour's R&D advance finding with minor adjustments. A substantial cash rebate is expected this quarter once the tax return is processed; amount not stated. This relieves the cash concern.
2 Dec 2014security holder rights change● Neutral
4,000,000 unlisted 50c employment options expired on 1 December 2014. Administrative only.
28 Nov 2014investor presentation● Neutral
CEO's AGM presentation pitches the east coast gas shortage, 133,000 km2 of 100%-owned acreage and 'prudent capital management'. The extract shows no new results or deals.
26 Nov 2014material agreement▲ Good
Aeon Metals (the other party) announced its own non-binding MoU with Armour for possible gas supply to its Walford Creek base metals project, about 10km from Armour's tenements. Duplicate of Armour's same-day announcement; supply is subject to both projects advancing.
26 Nov 2014material agreement▲ GoodMajor
Armour signed a non-binding MOU to supply 1-2 PJ a year of gas to Aeon Metals' Walford Creek project in north-west Queensland. It is a second small gas-customer MOU after MMG's 7-9 PJ; no price or binding contract yet.
21 Nov 2014security holder rights change● Neutral
2,000,000 unlisted 50c employment options expired on 21 November 2014. Administrative only.
5 Nov 2014security holder rights change● Neutral
500,000 unlisted 50c employment options expired on 4 November 2014. Administrative only.
31 Oct 2014quarterly activities report● Neutral
September quarter: Egilabria 2 testing is complete and all northern field work has stopped while 2015 plans are made. The R&D rebate is being sought again, and partner talks continue. Shares 302.2m at 9c, market cap $27m. Cash figure not in text seen.
20 Oct 2014annual report● Neutral
Re-release of the 2014 annual report already lodged 25 Sep. The chairman's letter is repeated, calling Egilabria 2 a landmark and citing the APA agreement for up to 330 PJ a year. No new financial figures in the text seen.
17 Oct 2014investor presentation● Neutral
CEO deck for a Beijing shale gas summit, built on known material: Egilabria 2, SRK contingent resources and Asian gas demand. No new announcement or result evident in the text seen.
16 Oct 2014flow test result● NeutralMajor
Egilabria 2 flared gas continuously 30 Sep–9 Oct, annulus pressure reached 781psi and 64% of stimulation fluid was recovered, but no stable flow rate was measured. Flow stopped 9 Oct and the site was demobilised; Armour blames low test pressure.
29 Sept 2014flow test result▲ GoodMajor
Egilabria 2 now flows gas continuously through the test separator, with intermittent flaring, and annulus pressure has risen to 630psi. Flow rate is not yet measured. 57% of stimulation fluid is recovered, a step toward proving commercial flow.
