Past year: ▲ 79900%(0.35c – 4.00 AUD)
Each one in plain English, with the numbers worked through for a shareholder.
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.
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.
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.
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.
19 Mar 2013resource reserve update▲ GoodMajor
Contingent resources (3C) rose 25% to 3,481PJ after NSAI review. Monslatt rose to 1,711PJ, Lancewood received a maiden 439PJ, and ATP854P received 103PJ. Reserves are unchanged from the February figures of 50PJ 2P and 180PJ 3P.
27 Feb 2013half year report● Neutral
Half-year report to 31 December 2012. Monslatt flow rates are still below commercial levels, Sapphire 4 is back on test after stimulation, and Monslatt 5P testing is suspended. Georgina talks with traditional owners are starting. Financial statements are not covered in the text provided.
26 Feb 2013resource reserve update▲ GoodMajor
Blue booked maiden 2P reserves of 50PJ and lifted Sapphire Block 3P reserves 140% to 180PJ from 75PJ, per NSAI's annual review. The pilot wells have not yet reached commercial rates, so this is a certification gain. Other ATP814P blocks are to follow.
14 Feb 2013director officer appointment● Neutral
Jooho Maeng of KOGAS Australia joined the board on 12 February 2013, replacing Heung-Bog Lee, who resigned after a three-year secondment. KOGAS keeps its board seat, consistent with its earlier ATP814P farm-in interest.
10 Jan 2013regulatory community update▲ GoodMajor
Maryborough permits ATP674P and ATP733P (2,584km2) were granted, lifting the joint venture with Beach Energy to 2,984km2. Blue is earning a 75% interest and operates the farm-in work program. This resolves the pending grant thread; no gas has been found yet.
10 Jan 2013other● Neutral
2,000,000 employee incentive options expired on 2 January 2013. Administrative notice with no operational or financial substance.
15 Nov 2012investor presentation● Neutral
AGM presentation by the Managing Director restating known points: no commercial gas rates yet from the four pilot wells, 75PJ 3P, 20m cash at 30 September, 13 employees and a goal of 1,000PJ of added 3P. Sapphire 5 drilling is planned. Largely repeats earlier information.
10 Oct 2012director officer appointment● NeutralMajor
Chairman Peter Cockcroft stood down immediately and will retire from the board on 31 December 2012. John Ellice-Flint becomes interim Chairman and Rod Cameron Deputy Chairman. Paul Massarotto retires at the 15 November AGM. KOGAS waives its nominee's director fees as part of cost savings.
3 Oct 2012investor presentation● Neutral
Presentation on the Southern Georgina Basin permits (21,300km2, 100%, preferred tenderer). It cites adjacent Petrofrontier and Statoil activity, including an Owen 3H well 7km away with oil shows. No new Blue results. Native title and environmental approvals are still needed.
21 Sept 2012other▲ GoodMajor
Blue confirms the mediated, confidential settlement of Odin's 2008 Federal Court claim over the Spinel Block, PEL 106, with proceedings dismissed. This closes the $4.5m-plus claim. Settlement cost is not disclosed.
21 Sept 2012other● Neutral
Odin Energy announced a confidential mediated settlement of its Federal Court case against Blue over the Spinel Block sub-farm-in on PEL 106. The proceedings are dismissed. Terms are not disclosed.
