Past year: ▲ 79900%(0.35c – 4.00 AUD)
Each one in plain English, with the numbers worked through for a shareholder.
16 Sept 2022drilling result● Neutral
Sapphire 5L2 drilled 1,130 m in seam and intersected the 5V vertical well as planned, the second lateral of the pilot. The drill string then stuck in the lower horizontal section; the rig moved on to 5L3 and a cheaper completion rig will retrieve the string later.
13 Sept 2022annual report● Neutral
Annual report for the year to 30 June 2022. The visible text shows a basic loss of 0.10 cents per share (0.07 in 2021), no dividend, and an unchanged four-person board. Financial statements are truncated, so cash and debt are not visible.
13 Sept 2022other● Neutral
Appendix 4G and corporate governance statement for the year to 30 June 2022, lodged alongside the annual report. It is an administrative compliance form with no new operational or financial substance.
9 Sept 2022investor presentation● Neutral
Presentation by the COO at the PESA Symposium on 9 September 2022 about the Sapphire pilot drilling program. Visible text is only disclaimers and competent person statements, with the rest truncated. No new figures are visible.
6 Sept 2022drilling result▲ Good
Sapphire 5L1 drilled 1,155 m of horizontal in-seam section and intersected the Sapphire 5V vertical well as planned, the first lateral of the pilot. A liner will be run and the well suspended for later production testing. The rig moves to 5L2. Gas flow is not yet tested.
30 Aug 2022drilling progress report● Neutral
All four Sapphire 5L build sections are complete and the rig has started drilling the horizontal in-seam section of 5L1 (at 730 m), aiming to intersect the Sapphire 5V vertical well. No gas results yet.
24 Aug 2022drilling progress report● Neutral
Build sections for Sapphire 5L1, 5L2 and 5L3 are cased (727 m, 595 m, 377 m), and the rig is starting 5L4. Horizontal in-seam drilling follows once the builds finish. No new results.
15 Aug 2022drilling progress report● Neutral
Batch drilling of the Sapphire 5 lateral wells continues. 5L1's build section is cased at 727 m and 5L2 spudded on 13 August, drilling at 238 m. In-seam horizontal sections follow after the build sections. No gas results yet.
2 Aug 2022drilling result▲ Good
Sapphire 6V reached 900 m total depth, intersecting 44 m of net coal with strong gas shows, in line with 5V's 45 m. The rig moves to the first lateral, Sapphire 5L1, due to spud 3 August. The new funds will pay for a duplicate lateral set.
29 July 2022quarterly activities report● Neutral
June 2022 quarter report restates the Silver City drilling contract, completed civil works, the Sapphire 5V spud and the 14 July resource upgrade, plus the $20 million placement at $0.062. It reports 44 m of net coal in 5V, where the earlier release said 45 m. Cash figures are not visible in the text.
28 July 2022capital raising announcement▲ GoodMajor
Blue raised about $20 million from institutions at $0.062 per share (322,580,645 new shares), a 17.3% discount to last close. Proceeds fund a second Sapphire pilot well set ($8.0m), Surat Basin drilling ($5.3m), NT seismic ($3.6m) and working capital. Blue says no further raising is needed near to medium term.
What it means for a shareholder
323m new shares at about A$0.062 to raise about A$20.0m. That's 17% dilution: every existing holder's slice gets 17% smaller. If you held A$1,000 of shares (16,129 at the issue price), your slice goes from 0.00106% to 0.000871% of the company. To keep it you'd need 3,405 more shares - about A$211 at the issue price.
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28 July 2022investor presentation● Neutral
Corporate presentation dated 26 July 2022, released alongside the $20 million placement. Visible text is only the disclaimer and legal notices; the rest is truncated, so no new figures are visible.
21 July 2022drilling spud● Neutral
Sapphire 6V, the second vertical well in the ATP814 pilot program, spudded on 20 July 2022. Target depth is 900 m, expected within about 3 days of drilling out of surface casing. Lateral wells follow in batches.
19 July 2022drilling result▲ GoodMajor
Sapphire 5V reached 850 m total depth in 3.5 days, intersecting 45 m of net coal, 20% thicker than predicted, in the same seams as the adjacent Moranbah project. Casing is cemented. The rig moves to Sapphire 6V. Gas flow is not yet tested.
14 July 2022resource reserve update▲ GoodMajor
NSAI upgraded the Sapphire Block (ATP814): 2P reserves up 13% to 66.5 PJ, 3P up 17% to 253.2 PJ, and 2C up 98% to 213.9 PJ. Company-wide 3C moves to 4,504 PJ in the July table. This is the first of the planned 2022 block reviews.
13 July 2022drilling spud▲ GoodMajor
Sapphire 5V spudded at 07:30 on 13 July 2022 after the rain delay. This is the first well of Blue's five-well ATP814 reserve-build program, which resolves the postponed spud.
4 July 2022drilling progress report▼ Bad
Blue postponed the Sapphire 5V spud, planned for 1 July, because of unseasonal heavy rain, and operations were temporarily suspended. No new date given. This is a further delay to the first well of the ATP814 program.
1 July 2022drilling spud● Neutral
Blue expects to spud Sapphire 5V on 1 July 2022, the first well of its ATP814 pilot program. It is a vertical water-production well to serve later lateral wells, about 2 km from Arrow's Moranbah project. The intended start follows the earlier delays.
17 June 2022drilling scheduled● Neutral
Civil works (well pads and cellars) at the Sapphire site are complete. The rig is due to mobilise from the Galilee Basin the following week, with the first well to spud around 1 July. Blue also cites the high Wallumbilla spot price of A$33.58/GJ.
26 May 2022drilling scheduled▼ Bad
Blue now expects Rig 23 to be released in late June, with the first Sapphire well shortly after. Heavy rain has delayed the rig's current operator, pushing the start back from the second week of June. Landholder agreements are in place and civil works have begun.
4 May 2022contract award▲ GoodMajor
Blue signed a drilling contract with Silver City Drilling for Rig #23 to drill the five-well ATP814 Sapphire program. This resolves the open contract thread. First well, Sapphire 5V, is expected to spud in the second week of June 2022.
29 Apr 2022quarterly activities report● Neutral
March 2022 quarter: ATP814 drilling is on track for a June spud of five wells (1 vertical, 4 laterals) in the Sapphire block. Equipment is procured, but the drilling contract is still being negotiated. Also, NT ecological survey work for the Greater McArthur seismic is done.
24 Mar 2022price query● Neutral
Responding to an ASX price and volume query, Blue says it knows of no undisclosed information. It points to tight east coast gas supply, the 4,476 PJ contingent resource, ATP854's 398 PJ upgrade and a June reserve-build drilling start as possible explanations.
9 Mar 2022half year report● Neutral
Half-year report to 31 December 2021. States no material change to reserves or resources in the period (2P 71 PJ, 3P 298 PJ, 3C 4,179 PJ), and notes the January ATP854 upgrade as a subsequent event. Financial figures are not visible in the text provided.
9 Mar 2022investor presentation● Neutral
Investor presentation of 9 March 2022. The visible text is only the disclaimer and an opening summary line on multiple 10-year gas supply agreements; the rest is truncated. No new figures are visible.
31 Jan 2022quarterly activities report● Neutral
December 2021 quarter: restates the ATP854 resource upgrade, the Bowen concept study, and the request for drilling service quotes, with awards due by end-February. Environmental Authority upgrades for the three ATP814 production licence applications are ready to lodge. No new results. Cash figure is not visible in the text.
25 Jan 2022resource reserve update▲ GoodMajor
NSAI lifted ATP854 (Surat Basin, 100%) contingent resources by about 300%, with 3C rising from 101 PJ to 398 PJ. Company-wide 3C rises 7% to 4,476 PJ. Blue says ATP854 gas could be an initial supply option for the Origin and EnergyAustralia agreements. Four PCA applications await approval.
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.
