9 Dec 2015investor presentation● Neutral
December 2015 investor presentation repeating the reserve upgrade: 71PJ 2P, 298PJ 3P, 3,942PJ company-wide 3C. Cash $6.0m at 1 October; market cap about $35m. No new result.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
8 Dec 2015resource reserve update▲ GoodMajor
NSAI lifts ATP814P (Bowen, 100%) 2P reserves 29% to 71PJ and 3P 49% to 298PJ. 3C resource falls 13% to 3,011PJ for that permit. Delivers the upgrade flagged earlier; Blue says it is fielding multiple gas-buyer requests.
18 Nov 2015director officer appointment● Neutral
Insu Woo, a Kogas Australia director, is appointed alternate director for KOGAS nominee Choongho Je on 18 November 2015. KOGAS keeps its board involvement; the announcement adds no new terms.
18 Nov 2015investor presentation● Neutral
AGM presentation, November 2015. Repeats 52PJ 2P, 200PJ 3P and 4,392PJ 3C; cash $6.0m at 1 October; market cap about $34m. Outlines a three-part gas sales strategy. No new result.
12 Oct 2015annual report● Neutral
Chairman and CEO's letter to shareholders. Reports the lowest overhead since listing and a significant gas resource upgrade during the year despite little field activity. Says the company is seeking the best timing to sell assets in sequence. No new transaction announced.
16 Sept 2015other● Neutral
Corporate governance statement for the year to 30 June 2015, listing which ASX recommendations the board follows. Several are marked as not followed, including a majority-independent board and an independent chair. Administrative, with no new facts.
16 Sept 2015other● Neutral
Appendix 4G, a standard governance checklist lodged with the annual report. It points to the company website for the governance statement. Administrative, with no new facts.
16 Sept 2015annual report● Neutral
Financial report for the year to 30 June 2015. The text provided covers the directors' report: Jooho Maeng resigned on 7 May 2015 and Choongho Je was appointed that day. Financial statements are not in the text shown.
3 Sept 2015investor presentation● Neutral
Good Oil Conference presentation, September 2015. Repeats 55PJ 2P, 200PJ 3P, 4,392PJ 3C and cash $6.4m. Market cap about $28m. Adds Northern Territory farm-in deals by other companies as context; no new Blue result.
14 Aug 2015investor presentation● Neutral
August 2015 investor presentation. Repeats 55PJ 2P, 200PJ 3P, 4,392PJ 3C and cash $6.4m. Market cap is about $22m, down from $30m in April. Lists a gas transaction, reserve upgrades and the Arrow pipeline decision as catalysts; no new result.
4 Aug 2015other▲ Good
Blue received a $1.8m R&D tax refund on 31 July 2015 for the year to 30 June 2014. Cash rises to $6.4m from $4.7m at 30 June, easing the falling-cash thread. It is a refund, not new funding.
13 May 2015director officer appointment● Neutral
Choongho Je, Managing Director of KOGAS Australia, was appointed a Blue director on 7 May 2015 as KOGAS's nominee, following the resignation of Jooho Maeng. The chairman welcomed KOGAS's continuing commitment as a substantial shareholder with board representation.
22 Apr 2015investor presentation● Neutral
April 2015 investor presentation. Repeats 55PJ 2P, 200PJ 3P and 4,392PJ 3C, cash $5.1m and $4m a year of cost cuts. Market cap about $30m, down from $50m in November 2014. No new result in the text.
20 Jan 2015resource reserve update▲ GoodMajor
NSAI raised ATP814P 3C contingent resource by 21% (657PJ) to 3,462PJ, with 1C up 30% and 2C up 27%. This delivers the long-awaited Bowen update. Portfolio total is now about 4,392PJ 3C, with 55PJ 2P and 200PJ 3P unchanged.
19 Nov 2014investor presentation● Neutral
Managing Director's AGM presentation. Repeats 55PJ 2P, 200PJ 3P, 3,744PJ 3C, cash $8.0m at 30 September 2014 and market cap $50m. Says running costs were cut by $4m a year. Largely known facts; no new result.
31 Oct 2014quarterly activities report▲ GoodMajor
September quarter: Galilee ATP813P 3C resource rises 54% to 838PJ after Stagmount 1 analysis, resolving that open thread. Group 3C total is now 3,744PJ. Cash is $8.0m, down from $9.0m. The ATP814P reserve update is still due by end of 2014.
24 Sept 2014annual report● Neutral
Financial report for the year to 30 June 2014. The text provided covers the directors' report: board unchanged, Stuart Owen's contract ended 30 June and Damien Cronin is company secretary from 1 July. Financial statements are not in the text shown.
17 July 2014investor presentation● Neutral
July 2014 investor presentation on east coast gas shortage and Blue's basin positions. Repeats 55PJ 2P, 200PJ 3P and 3,454PJ 3C; Bowen 3C shown as 2,804PJ. No new result or transaction in the text provided.
25 June 2014regulatory community update▲ GoodMajor
Queensland granted Blue 100% of Cooper Basin permits ATP656P, 657P, 658P and 660P, covering 5,200km2, for initial 4-year terms from 1 July 2014. This resolves the pending grant; the area has had no exploration since the mid-1990s.
19 June 2014director officer appointment● NeutralMajor
CEO and Managing Director John Phillips' contract is extended two years on unchanged terms and salary. CFO/Company Secretary Stuart Owen leaves on 30 June 2014, and solicitor Damien Cronin takes over company secretarial duties from 1 July.
2 June 2014investor presentation● Neutral
June 2014 investor presentation. Repeats known figures: 55PJ 2P, 200PJ 3P, 3,454PJ 3C, cash $9.2m at 31 March 2014, net acreage about 97,655km2 and six employees. Stresses Northern Territory basin activity; no new result in the text provided.
15 Apr 2014other● Neutral
Blue says it is unrelated to Bluenergy Group (ASX:BEG), which entered voluntary administration on 10 April 2014. It cites $13.9m cash, $48m market capitalisation and $72.7m net assets at 31 December 2013. Clarification only.
4 Apr 2014admin correction● Neutral
Updated March 2014 investor presentation with minor amendments to slides 2, 5, 6 and 10 to comply with ASX Listing Rule 5. Figures are corrected to 200PJ 3P and 3,454PJ 3C, with ATP814P 3C at 2,805PJ.
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.
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.