Past year: ▼ 20%(10.0c – 12.5c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
29 Aug 2024registration revoked▼ BadMajor
Armour was removed from the ASX official list from the close of trading on 28 August 2024 for not paying its annual listing fees. This ends its listing, well before the 10 November 2025 long-suspension deadline; the liquidation continues.
22 Aug 2024listing compliance notice▼ Bad
ASX lists Armour, already suspended, among entities that failed to pay annual listing fees for the year to 30 June 2025. Any entity still unpaid by 5pm on 28 August 2024 would be removed from the official list.
10 July 2024listing compliance notice▼ Bad
ASX lists Armour among entities suspended over three months. Outstanding reports include the second and third quarter reports and half-year accounts; 1-year deadline is 31 January 2025 and the 2-year deadline 10 November 2025, after which removal from the official list occurs.
24 Jan 2024bankruptcy or receivership▼ BadMajor
Creditors voted on 19 January 2024 to wind up Armour, with liquidators appointed. Operating subsidiaries, with the Surat, Otway and Cooper assets, were sold to ADZ Energy on 22 January under a deed of arrangement. Armour keeps only residual assets, such as its Conjugate and Auburn stakes.
20 Nov 2023other▼ Bad
Administrators will rely on ASIC relief to defer financial reporting for at least six months, and the 24 November 2023 AGM will not be held. Administrative; reflects the company being in administration.
13 Nov 2023admin correction● Neutral
Re-release of the 10 November receivership notice with the same content, dropping the line that administrators were also appointed to Armour Energy (Qld) Pty Ltd. No new information.
10 Nov 2023listing compliance notice▼ BadMajor
ASX suspended Armour securities from quotation under Listing Rule 17.3 following the appointment of receivers, managers and voluntary administrators.
10 Nov 2023listing compliance notice▼ Bad
ASX temporarily paused trading in Armour securities pending a further announcement. The reason is not stated; the receivership notice followed the same day.
10 Nov 2023bankruptcy or receivership▼ BadMajor
KordaMentha receivers and managers, and McGrathNicol voluntary administrators, were appointed to Armour and seven subsidiaries on 10 November 2023. Operations continue while a sale of the group is sought. This follows the Secured Note default and the Shunkang takeover talks.
6 Nov 2023other● Neutral
2023 corporate governance statement dated 29 September 2023, describing board practices and noting departures from ASX recommendations. Administrative; no new operating or financial information.
31 Oct 2023quarterly activities report● Neutral
September 2023 quarter: sales revenue $3.3m, with Myall Creek 5A and Rednook 1 flow rates still rising. Enterprise North-1 spud remains mid-CY2024, Glyde and 3D seismic second half of CY2024, and the Shell gas contract lifts prices from December 2023. Largely repeats known plans.
20 Oct 2023business combination▼ BadMajor
Armour is negotiating a cash takeover by Shunkang via scheme of arrangement, now in due diligence with no agreement reached. It missed the $2.75m Secured Note principal payment due 29 September, creating a default, and seeks noteholder deferral. This updates the August Shunkang approach.
29 Sept 2023annual report● Neutral
FY2023 annual report extract (year to 30 June 2023) shows only the competent person and reserves statements for the Kincora project, with TR&A reviewing Surat reserves at 30 June 2023. No reserve figures or financial results are visible in the extract.
29 Sept 2023admin correction● Neutral
Appendix 4G governance checklist lodged with the annual report, pointing to the corporate governance statement on the website. Administrative; no new operating or financial information.
7 Sept 2023joint venture update● NeutralMajor
DGR and Armour set up UK-incorporated Conjugate Energy to hold Ugandan Albertine Graben licences (Turaco and Kanywataba, in which Armour holds 17%), and plan a UK listing to fund two 2024 oil wells. Claimed prospective resource is about 3.158 billion barrels; listing is uncertain.
16 Aug 2023business combination● NeutralMajor
Armour received a non-binding, conditional expression of interest from China's Shunkang Holding Group to buy 100% at $0.13-$0.15 cash per share. The board called it inadequate, well below recent raisings and trading prices. No action is needed from shareholders.
15 Aug 2023debt financing● NeutralMajor
Secured Noteholders approved amendments with 80.37% support. These bring a 3% interest increase, repayment in full by 30 November 2023, waivers of current breaches and consent to the convertible notes. The deferred $2.75m principal payment was paid. Clears the way to issue the convertible notes.
15 Aug 2023admin correction● Neutral
Updated consolidation notice finalising post-consolidation numbers: 98,427,343 shares and 14,852,430 listed options after rounding. It also adds 960,000 unquoted 8c options, which become $4.00. Minor rounding changes only.
3 Aug 2023security holder rights change● NeutralMajor
Armour will consolidate its shares 50-to-1, taking about 4.92bn shares to about 98.4m. Trading in the new shares starts on a deferred basis on 8 August. Option exercise prices rise 50-fold, for example from 5c to $2.50. Shareholders approved this at the 2 August meeting.
31 July 2023quarterly activities report● Neutral
June 2023 quarter: revenue $3.6m, Myall Creek-5A flows rising and New Royal 8 restarted. Enterprise North-1 spud now mid-CY2024, Cooper airborne survey late 2023, and Glyde re-entry and 3D seismic second half of 2024. McArthur permit renewals have been lodged.
14 July 2023security holder rights change● Neutral
Corrects a notice of meeting error (the 31,304 notes held by Bizzell were Secured Amortising Notes, not MOG Notes). ASX granted a Listing Rule 10.1 waiver letting Armour give security to the new convertible noteholders, including DGR and Bizzell, without a separate shareholder vote. The 2 August EGM is unchanged.
3 July 2023investor presentation● NeutralMajor
Corporate update: Secured Note debt is about $17.2m, with full repayment proposed by 30 November 2023. The EGM is on 2 August. Surat plans shift from fracture stimulations to new wells targeting 10 TJ/d, and Enterprise North-1 slips to the second half of 2024. A McArthur farm-out or sale is planned.
10 May 2023capital raising announcement● NeutralMajor
Retail entitlement offer raised only about $0.7m (181m shares at $0.004). Total existing-holder take-up was about $3.6m, roughly 39%. A shortfall of about 1.4bn shares ($5.7m) falls to underwriters and sub-underwriters, including director-linked entities. Offer was fully underwritten by Wilsons.
What it means for a shareholder
181m new shares at A$0.004 to raise about A$700,000. That's 4.6% dilution: every existing holder's slice gets 4.6% smaller. If you held A$1,000 of shares (250,000 at the issue price), your slice goes from 0.00664% to 0.00634% of the company. To keep it you'd need 12,026 more shares - about A$48 at the issue price.
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9 May 2023quarterly activities report● Neutral
Amended March 2023 quarterly report. The extract repeats the original: revenue $3.1m, gas 4.4 TJ/d, Surat fracture stimulations planned, Enterprise North-1 spud in 2023/24 summer. What was amended is not visible in the extract.
5 May 2023regulatory community update▲ Good
Armour welcomed the draft federal gas code, which keeps the $12/GJ cap but proposes exemptions for small domestic producers, and the NT's 3 May decision opening the way for unconventional gas. Glyde re-entry and seismic are planned from mid-2024, with first gas to Lucapa's Merlin mine slated for mid-2025.
5 May 2023other● Neutral
Armour launched an online Investor Hub and will host a Q&A with CEO Christian Lange on 10 May 2023. Administrative; no new operating or financial information.
3 May 2023investor presentation● Neutral
QEC Investment Showcase presentation, 'Pathway to sustainable growth'. Repeats known facts: Shell GSA at $12/GJ from December 2023, targets of 10+ TJ/d then 20 TJ/d, and a snapshot of 3.76bn shares, $0.84m cash and $0.004 share price at 27 April 2023.
28 Apr 2023quarterly activities report● Neutral
March quarter: revenue $3.1m, gas 4.4 TJ/d, oil and condensate 78.9 bbl/d. Myall Creek-5A coiled tubing cleared obstructions; 2-3 Surat fracture stimulations planned before end 2023. Enterprise North-1 spud now scheduled for the 2023/24 summer; Cooper airborne survey due June 2023.
17 Apr 2023capital raising announcement● Neutral
The retail entitlement offer closing date was extended 14 days, from 20 April to 4 May 2023, giving retail holders more time to take up shares at $0.004. Results are due 10 May. Timetable change only.
29 Mar 2023capital raising announcement● Neutral
Letter telling shareholders outside Australia and New Zealand, or otherwise ineligible, that they cannot take part in the retail entitlement offer. Their entitlements are non-renounceable and carry no payment. Administrative notice, no new substance.
