Past year: ▲ 79900%(0.35c – 4.00 AUD)
Each one in plain English, with the numbers worked through for a shareholder.
24 Mar 2014investor presentation● Neutral
March 2014 investor presentation. Cash $14m at 31 December 2013, net acreage about 89,880km2 (down from about 110,000km2) and six employees. Reserve and resource figures are repeated, with a 3C total of 3,454PJ against 3,501PJ in the AGM deck.
25 Feb 2014half year report● Neutral
Half-year report to 31 December 2013. The text provided covers the directors' report: reserves table unchanged (55PJ 2P, 3,454PJ 3C), Marburg 1 plugged and abandoned, Stagmount 1 drilled. Financial statements are not shown, though a later release cites net assets of $72.7m.
31 Jan 2014asset acquisition disposition▲ GoodMajor
Blue secured 100% of Maryborough permits ATP674P and ATP733P and reached an in-principle deal to buy Beach Energy's ATP613P interest. Total price is $2.5m over twelve months, replacing the earlier 75% earn-in. Binding documents for ATP613P are still to be signed.
30 Jan 2014quarterly activities report● Neutral
December quarter: cash $14m. Marburg 1 was tested and will be abandoned; Stagmount 1 found 16m of net coal, with desorption results and an NSAI resource update still to come. Sapphire gas-flow testing continues. Reserve table unchanged at 55PJ 2P and 3,454PJ 3C.
9 Jan 2014well test result▼ BadMajor
Marburg 1 testing of the Precipice Sandstone (509-529m) found no producible hydrocarbons; the sandstone appears to hold very fresh water that mimics oil on logs. The well will be plugged and abandoned. This resolves the Marburg thread as a dry hole.
9 Jan 2014admin correction● Neutral
Revised re-release of the same-day Marburg 1 update. The test result is unchanged; the NSAI Bandanna coal gas figure for ATP854P is now a table (1C 22PJ, 2C 47PJ, 3C 101PJ) rather than 'approximately 100PJ'.
3 Jan 2014drilling progress report● Neutral
A work-over rig is mobilising to test the suspended Marburg 1 Precipice Sandstone, with testing expected from 4-5 January 2014. The cost is covered by the KIB farm-out. This follows the inconclusive October result.
10 Dec 2013drilling result● NeutralMajor
Stagmount 1 finished at 1,153m with 16 metres of coal; 10 core samples are in gas desorption testing. The well was handed to the landowner as a water bore. Results go to NSAI, which could raise the 544PJ 3C. The second well is paused until early 2014.
28 Nov 2013investor presentation● Neutral
Managing Director's AGM presentation. Restates 55PJ 2P, 202PJ 3P, 3,501PJ 3C, $15m cash at 30 September 2013 and about 110,000km2 net acreage, and the pure-explorer strategy. Largely repeats known facts; no new result in the text provided.
27 Nov 2013drilling progress report● Neutral
Stagmount 1 reached total depth of 1,153 metres and is running wireline logs before plugging and abandoning. No gas content or coal results reported yet.
20 Nov 2013drilling progress report● Neutral
Stagmount 1 in the Galilee Basin was at 930 metres, coring ahead in the Betts Creek Beds target. It will core to total depth, log, then plug and abandon. No gas results yet.
12 Nov 2013drilling progress report● Neutral
Stagmount 1 was at 867 metres, coring through the Betts Creek Beds target coals. It will core to total depth, log, then plug and abandon. No gas results reported yet.
5 Nov 2013drilling spud● NeutralMajor
Stagmount 1 spudded on 3 November 2013 in the wholly owned Galilee Basin ATP813P, the first of two wells. The pair could add up to 500PJ to the current 544PJ 3C. Planned depth is 1,185 metres.
30 Oct 2013quarterly activities report● Neutral
September quarter: cash was $15m, excluding farm-out funding. Maiden Lancewood reserves (5PJ 2P, 14.6PJ 3P) lifted 2P by 10%. Report repeats the KIB farm-out, the Wiso Basin farm-in and the inconclusive Marburg 1 result. Sapphire testing continues.
28 Oct 2013drilling result● NeutralMajor
Marburg 1 (685m) found good oil shows but a drill stem test recovered no hydrocarbons, and logs show a possible but uncertain oil column, possibly heavy oil in a pressure-depleted sandstone. The well is suspended for extended testing. Inconclusive, not a discovery.
25 Oct 2013annual report● Neutral
2013 shareholder review. It restates 50PJ 2P, 187PJ 3P and 3,516PJ contingent resources, the doubled 110,000km2 net acreage, and a $2.7m cut in annual run rate. Goals include drilling Marburg and Galilee work. Mostly repeats known facts.
23 Oct 2013drilling progress report● Neutral
Marburg 1 reached total depth of 685 metres and is running wireline logs. Results are still to be assessed, so there is no outcome yet.
16 Oct 2013drilling spud● NeutralMajor
Marburg 1 spudded at 1pm on 13 October 2013 and was at 418 metres, running surface casing. Target is the Precipice Sandstone, with total depth about 720 metres. No result yet.
9 Oct 2013drilling progress report● Neutral
First weekly update: KIB's $2.5m stage one funds have been received, covering Marburg 1 drilling cost. Camp and lease are built and the rig is rigging up, with spud now expected 12 October. No drilling result yet.
1 Oct 2013farm in farm out agreement▲ GoodMajor
Blue farmed out 20% of the Marburg oil prospect to KIB Energy (Singapore) for a carry of the Marburg 1 drilling cost, within a $5.0m two-stage deal. Blue keeps 80%. This resolves the farm-out thread; spud is expected 9 October 2013.
19 Sept 2013admin correction● Neutral
Amended re-release of the 30 June 2013 annual report; the text provided is the same as the previous day's version and does not show what changed.
18 Sept 2013annual report● Neutral
Annual financial report for the year to 30 June 2013. The text provided covers only the directors' report and board details, with no financial figures, so no new result can be stated.
6 Aug 2013farm in farm out agreement▲ GoodMajor
Blue signed a binding term sheet to farm into nine Wiso Basin blocks (111,887km2) in the Northern Territory from Australian Oil and Gas, earning 50% over three stages. First two years are estimated to cost $3m. Only three of nine permits are granted so far.
29 July 2013quarterly activities report● Neutral
June quarter: cash was $17m. A maiden South Block reserve (6.5PJ 3P) and 30PJ 3C were added in ATP814P. Marburg 1 oil well (mean 14 million barrels, about 13% chance) is expected to spud early September if land access concludes. Sapphire gas testing continues.
18 July 2013investor presentation● Neutral
RBS Morgans conference presentation restating 50PJ 2P, 180PJ 3P, 3,481PJ 3C, $17.1m cash and about 54,000km2 of acreage. Pitches the Marburg 1 oil well and east-coast gas shortage. Mostly repeats known facts.
12 July 2013other● Neutral
5,729,000 employee incentive rights lapsed on 30 June 2013. Administrative notice, with ordinary shares unchanged at 1,139,447,698.
11 June 2013director officer appointment● NeutralMajor
John Ellice-Flint was made permanent Chairman, with no extra fee, resolving the chairman search. CEO John Phillips's contract was extended 12 months on unchanged terms. Cash was $17.1m at 31 May after an R&D tax refund.
30 Apr 2013quarterly activities report● Neutral
March quarter: cash was $15.4m. The report restates the reserve and resource upgrades and flags a new Marburg oil prospect on ATP854P, with a mean 12 million barrels and about 13% chance of success. A first well is targeted for September quarter 2013, assuming a farm-out succeeds.
5 Apr 2013other● Neutral
41,236,500 shares issued in the April 2012 placement were released from voluntary escrow. No new shares were issued. Administrative notice.
20 Mar 2013investor presentation● Neutral
March 2013 investor update restating 50PJ 2P, 180PJ 3P, 3,481PJ 3C, $17m cash, about 54,000km2 of acreage and 9 employees (down from 13). It pitches east-coast gas shortage and operatorship. Mostly repeats known facts.
