Past year: ▲ 79900%(0.35c – 4.00 AUD)
Each one in plain English, with the numbers worked through for a shareholder.
5 Sept 2023regulatory community update▼ BadMajor
A group linked to Lock the Gate has appealed in the Qld Land Court against the Environmental Authority granted for ATP 814, with Blue joined as a party; impact on Sapphire timing is not yet known. Pilot was shut in for pressure testing, with gas to resume about 20 September. Blue received a $275,425 R&D rebate.
17 Aug 2023director officer appointment● NeutralMajor
Darren Greer, an engineer with 24+ years in oil and gas (Santos, Woodside, Senex), joins the board as non-executive director on 17 August 2023. Deputy Chairman Rodney Cameron, a director for over 12 years, resigns effective 30 September 2023.
31 July 2023quarterly activities report▲ Good
June 2023 quarter: Sapphire flowed up to 140,000 scfd in April, then was shut in from about 100,000 scfd for a pressure build-up test. Environmental Authority for Sapphire granted, federal code exempts Blue from the $12/GJ cap, and the QPM pilot-gas MoU was signed. Cash not visible in truncated text.
31 July 2023resource reserve update● NeutralMajor
NSAI raised Lancewood 3C to 573 PJ (+32%) and Central 3C to 469 PJ (+53%), but moved Central's 75 PJ of 3P to contingent after Blue switched those two licence applications to lower-tier PCAs. ATP 814 2P falls to 66.5 PJ, 3P to 260 PJ. Sapphire review due within weeks.
20 June 2023investor presentation● Neutral
Corporate quarterly update presentation dated 20 June 2023. Visible text is only disclaimers and competent person statements; the rest is truncated, so no new figures are visible.
8 June 2023material agreement▲ Good
QPM's own announcement of a non-binding MOU with Blue to negotiate a gas supply agreement for Sapphire pilot gas, with signing sought soon after QPM completes buying the Moranbah Project. The pilot gas is only 3 km from its gathering system. Duplicates Blue's own release.
8 June 2023material agreement▲ GoodMajor
Blue signed a non-binding MOU to supply Sapphire pilot gas "as available" into QPM Energy's Moranbah plant, 3 km from the pilot. This gives a route to sell pilot gas, separate from the existing 7 PJ/yr, 15-year Townsville MOU, which remains. Engineering on tie-in starts shortly.
1 June 2023other● Neutral
Administrative notice: 178,062 performance rights vested and converted to ordinary shares under the employee incentive plan. The notice only lets those shares be on-sold without a disclosure document. Immaterial against about 1.85 billion shares on issue.
10 May 2023flow test result▲ Good
Sapphire pilot gas rate rose to 140,000 cubic feet a day from 100,000, with water steady at 200-250 barrels a day. The upward trend continues, but the rate is still a small pilot figure.
28 Apr 2023quarterly activities report▲ Good
March 2023 quarter: Sapphire pilot flowing about 100,000 scfd. Draft federal gas code would exempt small domestic-only producers from the $12/GJ price cap, and QPM is buying the Moranbah plant next door. PL 1034 still awaits grant. Cash is not visible in the truncated text.
28 Apr 2023flow test result▲ Good
Sapphire pilot gas rate reached 100,000 cubic feet a day, up from 70,000, with combined water stabilising at 200-250 barrels a day. Gas keeps rising as dewatering continues, though the rate remains a small pilot figure.
5 Apr 2023flow test result▲ Good
Sapphire pilot gas rate rose to 70,000 cubic feet a day from 20,000 reported in February, held back by deliberately slow dewatering. Gas is 97% methane, which Blue says meets pipeline specification. Still a small pilot rate.
14 Mar 2023half year report● Neutral
Half-year report to 31 December 2022. The visible text restates the July 2022 reserve table and says the Sapphire drilling results are not yet in it; data goes to NSAI for an update. Financial figures are truncated and not visible.
16 Feb 2023flow test result▲ GoodMajor
Continuous gas flow is now recorded at the Sapphire pilots, the first measured rate: about 20 mcfd (thousand cubic feet a day) from the Sapphire 6 laterals, which is very small. Blue is dewatering slowly (265 and 183 barrels of water a day) and expects gas rates to rise over coming months.
31 Jan 2023quarterly activities report▲ Good
December 2022 quarter: both Sapphire pilots commissioned and pumping started. A Sapphire 6 blow-down gave a peak 1.6 mmscf/day over 8 hours, which Blue says is not a sustained rate. Drilling data will go to NSAI for a reserves update. Cash is not visible in the truncated text.
21 Dec 2022flow test result▲ Good
Sapphire 5 well set was commissioned and a gas flare was seen on the 5L flare stack, confirming hydrocarbons. Commissioning slipped after heavy early-December rain. Dewatering of 5V will now gradually draw down pressure to build gas flow; no flow rates were given.
21 Nov 2022production update● Neutral
A pump and completion string are now installed in Sapphire 6V, as 5V already had. Surface facilities on the Sapphire 5 pad should be finished within a week and commissioned in the last week of November, with Sapphire 6 to follow.
21 Nov 2022drilling result▲ GoodMajor
Blue completed Sapphire pilot drilling: about 14,000 m of hole, about 8,000 m horizontal, 2 verticals and 7 laterals (5L1-L4, 6L1-L3), no lost-time injuries. The rig is released and production testing is due to start in the last week of November. No gas rates yet.
15 Nov 2022agm notice● Neutral
All resolutions at the 15 November 2022 AGM passed on a poll. Shares on issue were 1,850,795,534, matching the roughly 1.85bn implied after the July placement.
15 Nov 2022investor presentation● Neutral
Managing Director's presentation for the 15 November 2022 AGM. Visible text is only disclaimers and competent person statements; the rest is truncated, so no new figures are visible.
10 Nov 2022investor presentation● Neutral
Managing Director's presentation to the Noosa Mining Conference on 10 November 2022. Visible text is only disclaimers and competent person statements; the rest is truncated, so no new figures are visible.
1 Nov 2022drilling result● Neutral
Sapphire 6L2 drilled 1,336 m in seam and intersected 6V, with the liner run. The campaign now totals 12,465 m drilled, 7,581 m of it horizontal. The rig moves to 6L3. Sapphire 5V now has its pump installed.
31 Oct 2022production update▲ Good
The pump and completion string are installed in Sapphire 5V, with four laterals totalling 4,986 m of net coal. Surface test facilities should be connected in 2-3 weeks, with pumping due to start in mid-November. No gas flow reported yet.
31 Oct 2022quarterly activities report● Neutral
September 2022 quarter: Sapphire 5V and 6V and five laterals drilled, 10,775 m in total, with the July resource upgrade and $20 million placement restated. Report cites ATP 814 at 79 PJ 2P and 335 PJ 3P. PL 1034 awaits government approval. Cash figures are not visible in the truncated text.
20 Oct 2022drilling result▲ Good
Sapphire 6L1, the first lateral of the second pilot set, drilled 1,200 m in seam and intersected the 6V vertical well. The liner is run and the rig moves to 6L2. The campaign has now drilled 10,775 m in total.
4 Oct 2022drilling result▲ Good
Sapphire 5L4 drilled 1,300 m in seam and intersected 5V, completing the four-lateral Sapphire 5 set. A workover rig is preparing 6V and will then fit the 5V pump; the drill rig moves to Sapphire 6L1. No gas rates reported yet.
30 Sept 2022regulatory community update▲ Good
Blue welcomed the Queensland Energy and Jobs Plan, whose Action 1.5 aims to connect Bowen Basin gas to the east coast market. Blue says this supports its ATP 814 pilot program and the pipeline study being finalised by KPMG, NSAI and GHD. No direct funding or commitment to Blue is stated.
27 Sept 2022drilling result▲ Good
Sapphire 5L3 drilled 1,350 m in seam and intersected the 5V vertical well as planned, the third lateral. The rig has moved to 5L4, now at 520 m toward a planned 1,650 m. No gas flow results yet.
21 Sept 2022material agreement▲ Good
Blue signed a non-binding MoU to supply Sapphire pilot test gas to Nomadic Energy for onsite power instead of flaring. Terms: 730 days at 0.5 TJ/day, Nomadic bears equipment costs. Binding documents are still to be negotiated; this is small pilot-scale volume, not a development gas sale.
20 Sept 2022agm notice● Neutral
Blue will hold its 2022 AGM at 11:00 am on 15 November 2022 in Brisbane. Director nominations close 27 September 2022, and the Notice of Meeting is due in early October.
