Past year: ▼ 35%(0.30c – 0.80c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
9 Dec 2019investor presentation● Neutral
December 2019 corporate presentation setting out the helium strategy and board. It notes due diligence is still verifying the acreage announced on 28 November and 5 December. Text is truncated, and no new figures are visible.
5 Dec 2019asset acquisition disposition▲ Good
Another 1,640 net acres leased across Enterprise and four other prospects, lifting the total to 92,443 gross (39,811 net) acres. Lease bonuses, not material to the company, are due by 28 February 2020 after due diligence.
28 Nov 2019asset acquisition disposition▲ GoodMajor
A further 59,510 gross (14,877 net) acres leased, taking the total to 86,614 gross (38,171 net) acres, including new prospects Yamato and Argo. A US$75,000 payment is due on completion by 1 April 2020, subject to due diligence; acreage is still to be verified.
26 Nov 2019asset acquisition disposition▲ GoodMajor
Acquired 21,824 acres in 63 Colorado state-auction leases for US$73,946, lifting holdings to 27,104 gross (23,294 net) acres across 9 prospects, over 1400% more net acreage. Plans a 5-well drilling programme early next year. No well drilled yet.
4 Nov 2019material agreement termination● NeutralMajor
Percy Creek farm-in and option agreement in Wyoming terminated by mutual agreement, with mutual release of claims and of the seismic commitment. The company had earned no interest. It now focuses resources on helium, resolving the earlier question over Percy Creek's future.
31 Oct 2019asset acquisition disposition▲ Good
First lease at a second helium prospect: Voyager in Colorado, 160 gross and net acres, 100% working interest, same terms as Enterprise. Voyager is within 7 miles of, and interpreted updip of, historic helium production. Target remains 25,000 gross acres across 5 prospects.
10 Oct 2019capital raising announcement● Neutral
Confirms the 117,399,560 placement shares at 0.5c were issued, raising A$586,998 before costs, about 25% of the prior 469.6m shares. Pamplona gets about A$35,200 in fees and, subject to shareholder approval, 10m options. Completes the 7 October placement.
9 Oct 2019asset acquisition disposition▲ Good
Two more Enterprise helium leases add 300 net acres, taking Enterprise to 5,120 gross and 1,310 net acres (from 1,010 net). Same terms as before: 5 years, 12.5% royalty, no work commitment; cost not material.
7 Oct 2019capital raising announcement▲ GoodMajor
Placement of 117,399,560 shares at 0.5c raising A$586,998, using existing placement capacity, led by Pamplona. Funds go to helium leasing, exploration and working capital. Management says leasing is funded to 25,000 gross acres, then permitting for a 5-well helium drilling campaign.
What it means for a shareholder
117m new shares at A$0.005 to raise about A$586,998. That's 20% dilution: every existing holder's slice gets 20% smaller. If you held A$1,000 of shares (200,000 at the issue price), your slice goes from 0.0426% to 0.0341% of the company. To keep it you'd need 50,000 more shares - about A$250 at the issue price.
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19 Sept 2019asset acquisition disposition▲ GoodMajor
Two more leases take Enterprise to 5,120 gross acres (1,010 net, up from 1,800 gross and 700 net), covering 5 soil-gas anomalies. Terms: 5 years, 12.5% royalty, no work commitment. This meets the 5,000-acre leasing target set in August. Drilling permits are targeted for 1Q2020.
18 Sept 2019listing compliance notice● Neutral
ASX temporarily paused trading in the shares pending a further announcement. The text gives no reason; the following announcement is the likely explanation.
13 Sept 2019half year report● Neutral
Half-year report to 30 June 2019. Percy Creek seismic is expected to cost US$275,000-360,000, with US$125,700 spent by 31 August. The company is talking to potential farm-in partners for funding. Simmons is the only producing Texas well. The text is truncated, so no financial statement figures are available.
11 Sept 2019other● Neutral
Clarification of recent helium announcements: the soil survey was done on public open space without landowner consent, to move quickly and limit competition for acreage. The company holds about 1,800 gross acres at Enterprise and plans to lease more, including some of the sampled public land.
10 Sept 2019listing compliance notice▼ BadMajor
Reply to ASX query: none of the 188 soil samples came from leased land; they were taken from public open space. The company holds only the 1,800-acre lease and a new 40-acre lease in the Enterprise area, and says it complies with Listing Rule 3.1. This qualifies the earlier survey announcements.
10 Sept 2019listing compliance notice● Neutral
ASX will lift the trading suspension from the start of trading on 11 September 2019, following the company's response to the ASX query. Administrative.
10 Sept 2019listing compliance notice● Neutral
The company requested the voluntary suspension be extended to no later than 11 September, still pending a clarifying announcement and its reply to the ASX query. Procedural, with no new information.
9 Sept 2019listing compliance notice▼ BadMajor
Shares suspended at the company's request, pending a clarifying announcement about earlier helium announcements and a response to an ASX query letter. This suggests ASX questioned the recent helium disclosures (inference from the stated reason).
3 Sept 2019drilling result▲ Good
Laboratory results: 187 of 188 soil samples showed helium above atmospheric levels, and 167 were 10-100% above. Enterprise had 8 anomalies from 11 samples, and the company may expand leasing there. These are surface readings, not a drilling or flow result.
29 Aug 2019drilling result▲ Good
Interim helium soil gas results: 188 samples collected, with anomalies about 50% above atmospheric levels over 7 prospects and leads. Reprocessed gravity and magnetics data refine the structures. Laboratory results are still due in September. These are surface indicators, not a well result.
22 Aug 2019asset acquisition disposition▲ GoodMajor
First helium lease secured at the Enterprise prospect: 1,800 gross acres, 100% working interest, 5-year term, 12.5% royalty, no minimum work commitment. The company is seeking about 5,000 acres in total and targets drilling permit readiness in 1Q2020. This is the first concrete helium acreage.
22 Aug 2019investor presentation● Neutral
Updated August 2019 corporate presentation restating the helium and conventional oil strategy and the 30 prospects and leads. The managing director's comments repeat known points. No new results are evident in the readable text.
31 July 2019capital raising announcement● Neutral
Second placement tranche completed after shareholders approved it at the 29 July EGM: 72,723,228 shares at 0.5c, raising about A$363,616 before costs. This completes the A$692,991 placement announced in June.
What it means for a shareholder
72.7m new shares at A$0.005 to raise about A$363,616. That's 15% dilution: every existing holder's slice gets 15% smaller. If you held A$1,000 of shares (200,000 at the issue price), your slice goes from 0.0504% to 0.0426% of the company. To keep it you'd need 36,648 more shares - about A$183 at the issue price.
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1 July 2019farm in farm out completion▲ Good
The condition precedent to the Percy Creek farm-in and option agreement of 29 April has been satisfied, so the agreement is now unconditional. The text gives no further detail on the condition.
13 June 2019capital raising announcement● Neutral
First placement tranche completed: 65,875,000 shares issued at 0.5c, raising A$329,375, a 16.6% dilution on 331,000,017 shares. Broker fees are about A$12,907. Second tranche still needs shareholder approval.
What it means for a shareholder
65.9m new shares at A$0.005 to raise about A$329,375. That's 17% dilution: every existing holder's slice gets 17% smaller. If you held A$1,000 of shares (200,000 at the issue price), your slice goes from 0.0604% to 0.0504% of the company. To keep it you'd need 39,804 more shares - about A$199 at the issue price.
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11 June 2019listing compliance notice● Neutral
ASX confirms the suspension will lift immediately after the placement announcement. Administrative.
11 June 2019capital raising announcement▲ GoodMajor
Placement of 138,598,228 shares at 0.5c to raise A$692,991, in two tranches; the second needs shareholder approval at a July EGM. Funds go to Percy Creek, new US leases and working capital. Director Trent Spry takes 3m shares. Follows cash falling to A$0.29m.
What it means for a shareholder
139m new shares at A$0.005 to raise about A$692,991. That's 30% dilution: every existing holder's slice gets 30% smaller. If you held A$1,000 of shares (200,000 at the issue price), your slice goes from 0.0604% to 0.0426% of the company. To keep it you'd need 83,745 more shares - about A$419 at the issue price.
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7 June 2019listing compliance notice● Neutral
The company requested a voluntary trading suspension pending a placement announcement, to last no later than 11 June 2019. This is procedural ahead of a capital raising.
3 May 2019investor presentation● Neutral
May 2019 corporate presentation outlining strategy in conventional oil and helium-rich gas, the board, and Percy Creek. Prospective resources are stated as already announced on 29 April. The text is truncated; nothing new is evident.
29 Apr 2019director officer appointment▲ GoodMajor
Trent Spry, a geoscientist and former Entek Energy CEO, joins as Executive Director and will face re-election at the 31 May 2019 AGM. He is granted 16,875,000 options at 1 cent expiring 30 June 2020. Helium is now named in the strategy.
29 Apr 2019farm in farm out agreement▲ GoodMajor
First acquisition since the restructure: a farm-in and drilling option over 5,228 gross acres at Percy Creek, Wyoming. A US$275k seismic programme earns 20%, with an option to reach 100%. Unrisked best-case prospective oil resource is 75mmbbl gross; drilling is targeted for 4Q2019.
