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.
30 Oct 2015quarterly activities report● Neutral
September 2015 quarter: cash $6.1m, down from $6.4m at 31 July. Blue says it is in discussions with gas buyers; the 4,392PJ 3C total is unchanged. Covers GLNG Train 1 start-up, Arrow's pipeline progress and the ACCC's Shell-BG review.
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.
31 July 2015quarterly activities report● Neutral
June 2015 quarter: cash $4.7m, with a $1.85m R&D rebate about to arrive. Overheads are down 53% year on year. NSAI is reviewing reserves and resources; the 4,392PJ 3C total is unchanged. Covers the ACCC gas inquiry and Arrow's pipeline, still in design.
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.
22 Apr 2015quarterly activities report▼ Bad
March 2015 quarter: cash $5.1m, down from $6.8m. Bowen 3C stays 3,462PJ (total 4,392PJ); further data may give an upgrade in the September 2015 quarter. KOGAS nominee Choongho Je becomes alternate director. Comments on the Shell-BG takeover and Arrow's gas.
29 Jan 2015quarterly activities report● Neutral
December quarter: cash $6.8m, down from $8.0m. Restates the Bowen upgrade (3C 3,469PJ) and total 4,392PJ. The Beach Energy transaction completes Blue's 100% Maryborough position, and Queensland granted two-year extensions on work programs for Bowen, Maryborough and Galilee permits.
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.
20 Oct 2014agm notice● Neutral
Chairman's letter with notice of the 2014 AGM, to be held 19 November in Brisbane. He argues Blue's Bowen and Surat gas, and possibly Cooper, is well placed as LNG plants seek third-party gas. Administrative, with no new facts.
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.
29 July 2014quarterly activities report● Neutral
June quarter: cash $9.0m, down from $9.2m. The ATP814P reserve update, expected this quarter, slips to the end of calendar 2014 because other data-sharing parties are late. A possible new Cattle Creek CSG play is identified in ATP854P; Cooper permits are effective 1 July.
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.
24 Apr 2014quarterly activities report● Neutral
March quarter: Cooper Basin Environmental Authorities granted for ATP656A/657A/658A/660A, so permit grants can now follow. Cash fell to $9.2m from $14m. Wiso Basin prospectivity was enhanced by new data, and the ATP814P reserve update is expected in the June quarter.
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.