Each one in plain English, with the numbers worked through for a shareholder.
29 Mar 2018capital raising announcement▲ Good
Settlement of the A$39.2m placement of 115.28m shares at A$0.34 is complete, with new shares trading from 3 April 2018. Shareholders will be asked to ratify the issue at the upcoming AGM.
What it means for a shareholder
115m new shares at A$0.340 to raise about A$39.2m. That's 14% dilution: every existing holder's slice gets 14% smaller. If you held A$1,000 of shares (2,941 at the issue price), your slice goes from 0.00041% to 0.000354% of the company. To keep it you'd need 473 more shares - about A$161 at the issue price.
22 Mar 2018capital raising announcement▲ GoodMajor
Placement of 115.28m shares at A$0.34 raises about A$39.2m, a 5.6% discount to the last close. Pro forma cash is about US$47m, to fund 4-10 initial TMS wells from second half 2018. This answers the open financing thread, with debt still being sought.
Equity raising presentation supporting the A$39.2m placement at A$0.34. Slides repeat known reserve and acreage figures; no new figures in the available text.
Shares suspended from quotation at the company's request, pending an announcement about a capital raising. A trading halt before the placement was announced; it resolved the next day.
March 2018 corporate presentation repeating known figures: 1P 29 and 2P 47 MMbbl, and about 4 MMbbl of producing reserves valued at US$80m NPV10. No new information in the available text.
S&P Dow Jones index rebalance notice lists Australis among additions to the All Ordinaries index, effective 19 March 2018. Index housekeeping, no company business news.
Corporate governance statement for 2017, approved by the board and current at 8 March 2018. Administrative disclosure, no business news in the available text.
2017 annual report: the Encana TMS acquisition closed for US$68.1m, acreage rose to 95,000 net acres from 19,000, and year-end net cash was US$17m. Drilling is planned for the second half of 2018, with financing alternatives still being explored.
January 2018 presentation repeating the new year-end reserves (1P 29, 2P 47 MMbbl), 98 MMbbl 2C resource and 95,000 net acres. No new information in the available text.
Ryder Scott's year-end 2017 estimate books first undeveloped reserves: 1P 28.9, 2P 46.6 and 3P 60.2 MMbbl net, on a 126-well plan covering about 35% of acreage. 2C resource falls to 98.0 MMbbl from 107 as part moves to reserves. Producing reserves NPV10 is US$79.5m.
Darren Wasylucha, who held similar roles at Aurora Oil & Gas in 2011-2014, joins as Chief Corporate Officer, based in North America, ahead of planned 2018 drilling. He receives 1.5 million incentive options at A$0.285-$0.40; 196,102 performance rights lapsed.
Same-day notice and slides for the 17 November investor webinar. The slides repeat the existing investor presentation; no new figures in the available text.
Updated presentation says the land program has lifted TMS core leasehold to over 95,000 net acres, up from 81,000, with 80% expiring beyond January 2020 or held by production. Continues the leasing thread.
September 2017 corporate presentation repeating known points: 5 million bbl proved producing reserves (US$95m NPV10), 107 million bbl TMS 2C resource, 458 Bcf in Portugal, and 291 net TMS well locations. No new results in the available text.
Half-year results presentation says the Encana purchase made Australis the largest operator in the TMS core, citing about 100,000 largely contiguous net acres including 22,000 held by production. Financial figures are not in the available text.
16,835,933 unlisted $0.275 options released from escrow on 16 May 2017. Shares on issue are now 776,339,475, reflecting the April placement. Administrative.
Presentation for the 4 May 2017 AGM, themed on the corporate strategy creating a growth platform. The available text shows only disclaimers and no new figures.
Completion of the Encana TMS acquisition, settled 13 April 2017 for US$68.3m (US$80m less US$11.7m adjustments). Australis now holds 81,000 net core acres and about 1,700 bbl/d from 31 producing gross wells. Resolves the February deal.
Australis completed the A$100m placement of 434.78 million shares at $0.23 to fund the Encana TMS purchase. The price was adjusted down to US$68.3m, mainly for US$10.8m of net oil sales since November. Post-deal net cash is US$22m; March production about 1,700 bbl/d.
What it means for a shareholder
435m new shares at A$0.230 to raise about A$100m. That's 38% dilution: every existing holder's slice gets 38% smaller. If you held A$1,000 of shares (4,348 at the issue price), your slice goes from 0.000609% to 0.000378% of the company. To keep it you'd need 2,646 more shares - about A$609 at the issue price.
2016 annual report repeats known results: year-end net cash A$29m, 2C resources of 26.4 million barrels (TMS) and 458.5 Bcf (Portugal), and the Encana deal. New: close expected mid-April 2017, with a multi-well TMS drilling program expected from 2018, possibly with partners.
