Past year: ▲ 79900%(0.35c – 4.00 AUD)
Each one in plain English, with the numbers worked through for a shareholder.
20 Jan 2022drilling scheduled● Neutral
Blue sought quotes for drilling, directional, cementing, wireline, completion and testing services for its 2022 ATP814 program. Quotes are due early February and contracts are expected to be awarded by end-February. A preparatory step; no contracts signed yet.
6 Jan 2022regulatory community update▲ Good
The joint Federal and Queensland Government Bowen Basin concept study, by KPMG, GHD and NSAI, was released. It endorses Bowen gas development and a pipeline from Moranbah, with a 200 TJ/day plateau flow rate. Blue targets mid-2022 Sapphire drilling and is preparing an application for Federal pipeline funding.
26 Nov 2021regulatory community update▲ Good
Blue welcomes the Federal National Gas Infrastructure Plan, which expects first North Bowen gas to the south in 2025 and backs a 200 TJ/day Bowen-to-Wallumbilla pipeline. Blue will join the Expression of Interest process. This resolves the open thread on the plan's final release; supportive but no funding for Blue.
9 Nov 2021investor presentation● Neutral
AGM presentation: cash $10.8m at 29 October 2021, no debt, 1,528,214,889 shares. Repeats known resources and the 512 PJ of non-binding agreements. Shows a drilling schedule from December 2021, with Sapphire wells spudding mid-2022. No new result.
30 Sept 2021capital raising announcement● Neutral
Administrative notice that the 199,332,376 placement shares at $0.05, announced 22 September, were issued on 30 September. Completes the roughly $10m raising; no new information.
30 Sept 2021annual report● Neutral
Annual report for the year to 30 June 2021. Basic loss per share was 0.07 cents, down from 0.38 cents the year before. Lists Mark Hayward (appointed 16 Feb 2021) as Risk and Audit Committee chair; Karen Johnson resigned 10 Nov 2020. Full financials are truncated.
30 Sept 2021other● Neutral
Appendix 4G and corporate governance key lodged alongside the annual report. Administrative compliance filing with no new information on the business.
22 Sept 2021capital raising announcement▲ GoodMajor
Blue raised about $10m through an institutional placement of 199,332,376 shares at $0.05, a 15.3% discount to the 30-day average price. Funds go to reserve-build drilling in ATP814 to firm up the gas agreements, plus Northern Territory seismic approvals. It ends the cash squeeze: cash was $1.95m at June.
What it means for a shareholder
199m new shares at A$0.050 to raise about A$10.0m. That's 13% dilution: every existing holder's slice gets 13% smaller. If you held A$1,000 of shares (20,000 at the issue price), your slice goes from 0.00151% to 0.00131% of the company. To keep it you'd need 3,000 more shares - about A$150 at the issue price.
Create a free account to see this worked out for your own holding.
8 Sept 2021investor presentation● Neutral
September 2021 corporate presentation: cash $1.95m at 30 June 2021, no debt, 1,326,952,755 shares, market cap about $82m. Repeats known resource figures and the agreements. Cash is down from $3.25m at December 2020.
22 June 2021material agreement● Neutral
Blue signed a non-binding MOU with Stanmore Resources to supply hydrogen made from pilot gas from ATP814 that would otherwise be flared, for Stanmore's Isaac Plains vehicle fleet. Extends the earlier Stanmore mine-gas MOU; a small trial, with technology partners still to be found.
16 June 2021investor presentation● Neutral
Conference presentation repeating known positions: HOAs with EnergyAustralia and Origin plus the Queensland Pacific Metals MOU, 4,000+ PJ of resources, and government gas-policy support. No new result.
19 Mar 2021material agreement▲ GoodMajor
Blue signed a second non-binding Heads of Agreement, with Origin Energy, for up to 300 PJ over 10 years (20-30 PJ a year) at Wallumbilla, indicative start 2024. Total gas under southern HOAs reaches 400 PJ with EnergyAustralia; still not binding.
11 Mar 2021half year report● Neutral
Half-year report to 31 December 2020. States no change to reserves or resources (2P 71 PJ, 3P 298 PJ, 3C 4,179 PJ) and that the non-binding EnergyAustralia agreement is in place. Financial figures are not visible in the text provided.
16 Feb 2021director officer appointment● Neutral
Blue appointed Mark Hayward, a former Ernst and Young audit partner, as independent non-executive director from 16 February 2021. He joins the Risk and Audit Committee, replacing retired director Karen Johnson, restoring the board to four.
3 Dec 2020material agreement▲ GoodMajor
Blue signed a non-binding Heads of Agreement with EnergyAustralia to supply 100 PJ of gas at Wallumbilla over 10 years (10 PJ a year) from ATP814. It is Blue's first southern-market deal, following earlier northern MOUs, but it is not a binding sale contract.
10 Nov 2020investor presentation● Neutral
AGM presentation by the Managing Director on the gas-led recovery theme and strategy for Bowen and Galilee gas, the Northern Territory and the emerging Carpentaria and Georgina basins. Repeats known positions; no new result.
10 Nov 2020director officer appointment● Neutral
Non-executive director Karen Johnson, on the board since 30 September 2011, retired at the end of the 10 November 2020 AGM, citing other work commitments. Rod Cameron takes over as Risk and Audit Committee chair.
29 Oct 2020material agreement▲ GoodMajor
Blue signed a non-binding MOU with Stanmore Coal to capture and sell gas from its proposed Isaac Plains underground mine, where it overlaps Blue's ATP814P. A detailed agreement is still to be negotiated; adds possible gas volumes but no sales contract.
12 Oct 2020investor presentation● Neutral
Macquarie conference presentation repeating known facts: cash $4.3m at 30 June, no debt, market cap about $94m (up from about $64m in Nov 2019), 2P 71PJ, 3P 298PJ. Stresses federal and Queensland gas policy support. No new result.
16 Sept 2020regulatory community update▲ Good
Blue welcomed the Prime Minister naming the North Bowen, Galilee and Beetaloo basins as priority sources of new gas supply, noting it holds acreage in all three. Cites 3,000 PJ Bowen resources and 838 PJ in Galilee. No new project result or contract.
15 Sept 2020annual report● Neutral
Annual financial report for the year to 30 June 2020. Loss per share was 0.38 cents (0.45 cents prior year), no dividend. Board unchanged: Ellice-Flint, Phillips, Johnson, Cameron. Remaining financial detail is not visible in the text.
15 Sept 2020other● Neutral
Appendix 4G and corporate governance statement for the year to 30 June 2020, dated 15 September 2020. Compliance paperwork with no business information.
27 Aug 2020director officer appointment● Neutral
Blue renewed Managing Director John Phillips' contract for 3 years from 1 July 2020, lifting his salary from $400,000 to $415,000. The chairman said he will keep pursuing monetisation of the Bowen gas and progress the NT McArthur Basin tenements.
21 Aug 2020regulatory community update▲ Good
Blue welcomed the Queensland Government's $5 million concept study for a new pipeline south from the Bowen Basin, a step toward the southern route Blue has lobbied for. It is a study only; no funding or build commitment for Blue.
3 July 2020security holder rights change● Neutral
Of 17,785,000 unlisted performance rights, 1,929,758 vested and the rest lapsed because only 50% were entitled to vest. Shares on issue are now 1,328,882,513. Minor administrative change.
21 Apr 2020other● Neutral
Blue lodged its updated securities trading policy under Listing Rule 12.10. Administrative document restricting insider and short-term trading by directors and staff; no business information.
10 Mar 2020half year report● Neutral
Half-year to 31 December 2019 report. States no material change in reserves or resources (2P 71PJ, 3P 298PJ, 3C 4,179PJ). Two non-binding Townsville MOUs (NQGP, QPM) in place, with power generation studies continuing. Financial figures not visible in the text.
12 Nov 2019material agreement▲ GoodMajor
Blue signed a non-binding MOU with Queensland Pacific Metals to supply gas to its proposed Townsville nickel refinery: indicative 7 PJ a year for 15 years, from the Sapphire Block. A second Townsville buyer after NQGP, but still not a binding gas sale agreement.
12 Nov 2019investor presentation● Neutral
AGM presentation repeating the November investor deck: priorities are Townsville gas sale agreements, power generation in ATP814, a southern pipeline and buyers, and restarting NT exploration. Market cap about $64m. No new information.
7 Nov 2019investor presentation● Neutral
November 2019 presentation repeating known facts: cash $5.8m, no debt, market cap about $60m, 2P 71PJ, 3P 298PJ, 3C 4,179PJ. Lists catalysts such as gas sale agreements and pipeline funding. No new result.
