Past year: ▲ 230%(1.00c – 3.30c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
28 Jan 2022quarterly activities report● Neutral
December quarter: sales 96,200 bbl (down 8%), EBITDA US$0.5m (US$2.6m for 2021). Cash US$9.3m, debt US$16m. Core acreage 98,000 net acres. A third party drilled Reese 11H #1 nearby, and Goodrich, the second-largest TMS producer, was bought by Paloma Partners IV.
1 Dec 2021security holder rights change● Neutral
420,000 director options at A$0.3125 expired unexercised on 30 November 2021. 27 million shares are to be issued to the employee share trust to cover vested performance rights likely exercised in 2022. Administrative, with minor dilution.
4 Nov 2021investor presentation● Neutral
Presentation for the Euroz Hartleys Energy Snapshot conference. It repeats known points: 170 MMbbl resource, 33 operated wells producing over 1,250 bbl/day, and third-party activity in the field. No new announcement.
28 Oct 2021quarterly activities report● Neutral
September quarter: sales 104,100 bbl (down 5%), EBITDA US$1.1m (up from US$0.5m). Cash US$9.9m, Macquarie debt US$17m after another US$1m repayment. Core acreage fell to 100,000 net acres; Hurricane Ida cost about 7 days of production. Partner search continues.
26 Oct 2021regulatory community update● Neutral
Statutory notice: subsidiaries received JobKeeper payments of A$159,300 for 8 individuals in FY2020 and A$57,600 for 6 in FY2021. No repayments made. Administrative.
31 Aug 2021regulatory community update● Neutral
Hurricane Ida passed through the TMS field with no material damage or environmental impact, but power outages halted some production. Wells restart as power is restored, which is expected within days.
24 Aug 2021half year report● Neutral
First half 2021: revenue US$13.2m, EBITDA US$1.1m, net loss US$1.7m, a sharp improvement on 2020's impairment-driven loss. Cash US$10.2m, borrowings US$18m. Core acreage exceeds 100,000 net acres, over 37% held by production.
30 July 2021quarterly activities report● Neutral
June quarter: sales 109,600 bbl (up 10%), EBITDA US$0.5m. Cash US$10.2m, debt US$18m after another US$1m repayment. Directors' A$0.675m tranche completed, total raising A$10.175m. Core acreage 103,000 net acres; partner search continues.
7 June 2021security holder rights change● Neutral
30m Macquarie facility options (20m at A$0.49, 10m at A$0.51) expired unexercised on 4 June 2021. Shares on issue are now 1,211,463,649. Administrative.
13 May 2021other● Neutral
A recording of the 11 May AGM webinar is available on the company website. Administrative, no new information.
11 May 2021investor presentation● Neutral
AGM chairman's address and presentation. Chairman Stewart says the priority is keeping control of the TMS asset, notes improving though low-base partner discussions, and says the board will resist unfunded approaches. No new figures.
30 Apr 2021quarterly activities report● Neutral
March quarter: sales 99,800 bbl, cut by February winter storms, EBITDA US$0.6m. Cash rose to US$10.9m after the raising; debt US$19m. Land maintenance leasing has begun and partner interest is said to be rising.
30 Mar 2021capital raising announcement▲ Good
The share purchase plan was oversubscribed by about 36%, with applications for A$3.123m against a A$2m target at A$0.05. Applications are scaled back pro rata to 64.041%, completing the equity raising.
26 Mar 2021agm notice● Neutral
Notice that the AGM will be held 11 May 2021, with director nominations closing 30 March. Administrative.
11 Mar 2021investor presentation● Neutral
Presentation for the Euroz Hartleys Rottnest conference. The text provided is only the disclaimer section, so no new information is visible.
8 Mar 2021capital raising announcement● Neutral
Tranche 1 completed: 150m new shares issued at A$0.05, about A$7.5m. The share purchase plan opens, closing 26 March. Directors' 13.5m-share tranche (A$0.675m) still needs shareholder approval at the May AGM.
What it means for a shareholder
150m new shares at A$0.050 to raise about A$7.5m. That's 11% dilution: every existing holder's slice gets 11% smaller. If you held A$1,000 of shares (20,000 at the issue price), your slice goes from 0.00173% to 0.00153% of the company. To keep it you'd need 2,591 more shares - about A$130 at the issue price.
Create a free account to see this worked out for your own holding.
1 Mar 2021capital raising announcement● NeutralMajor
Australis raises A$8.175m in a placement at A$0.05 (12.3% discount): 150m shares now, plus 13.5m to directors subject to AGM approval. A share purchase plan of up to A$2m follows. Funds go to restarting TMS leasing and working capital, backing partner talks.
1 Mar 2021investor presentation● Neutral
Presentation supporting the 1 March capital raising. The text provided is mostly disclaimers and does not show new figures beyond the placement announcement.
23 Feb 2021admin correction● Neutral
Corporate governance statement and Appendix 4G lodged for the year ended 31 December 2020. Administrative, no new information.
23 Feb 2021annual report▼ Bad
2020 annual report: EBITDA US$7.0m and net profit before impairment US$1.5m, but a net loss of US$125.2m after the US$126.7m non-cash impairment. Year-end cash US$4.7m, debt US$20m, with minimum US$1m quarterly repayments and maturity November 2023.
18 Feb 2021other● Neutral
Notice that 22,000,000 new shares were issued to the employee equity trust to cover vested performance rights. Administrative; not a capital raising.
5 Feb 2021resource reserve update▼ BadMajor
Year-end 2020 Ryder Scott update: 2P reserves fall 66% to 21.0 MMbbl and 1P 79% to 10.4 MMbbl, because the assumed five-year drilling plan shrinks from 180 to 58 wells. 2C rises 15% to 149.4 MMbbl; PDP is 3.7 MMbbl. Oil is reclassified, not lost.
2 Feb 2021security holder rights change● Neutral
Performance rights and director and employee fee rights vested on 31 January 2021; some lapsed and some were exercised for employee tax. Administrative; the fee rights are the equity taken in lieu of cash pay in 2020.
29 Jan 2021quarterly activities report● Neutral
December quarter: sales 125,200 bbl, EBITDA US$0.8m, with a further US$3m debt repayment cutting debt to US$20m; cash US$4.7m. Partner search continues, with interest still tempered by market conditions; core acreage is now 107,500 net acres.
4 Jan 2021security holder rights change● Neutral
19,675,000 options at A$0.25 and 28,775,000 options at A$0.30 expired unexercised on 31 December 2020. Administrative update of securities on issue.
27 Oct 2020quarterly activities report▲ Good
September quarter: full production restored after the Q2 curtailment, sales 143,300 bbl, EBITDA US$1.9m, cash US$6.8m, debt US$23m (net debt US$16.2m). Extra hedges added for Q4 2020 and 2021. A third-party TMS well has been permitted nearby; partner search continues.
7 Sept 2020security holder rights change● Neutral
962,113 vested performance rights were exercised, settled with existing shares from the employee trust, and 1,481,156 unvested rights were forfeited. Issued shares are now 985,963,678. Administrative.
26 Aug 2020half year report▼ BadMajor
First half 2020: revenue US$13.6m and EBITDA US$4.3m, but a non-cash impairment of US$126.7m produced a net loss of US$125.8m. Borrowings US$23m. Australis also told Portugal it will relinquish its Lusitanian Basin licences from 30 September 2020, ending that asset.
30 July 2020quarterly activities report● Neutral
June quarter: production was voluntarily curtailed, so sales fell to 66,000 bbl (down 61%), with average price US$26.2/bbl. Hedge income of US$2.69m kept EBITDA at US$1.5m. Cash rose to US$4.4m, debt US$23m; partner search continues and core acreage is now 110,000 net acres.
15 June 2020other● Neutral
A webinar recording of the CEO's presentation at the 11 June 2020 AGM is available on the company website. Administrative notice with no new information.
