29 Mar 2019admin correction● Neutral
Appendix 4G corporate governance checklist lodged with the annual report, pointing to the company's governance statement. Administrative, with no new business information.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
29 Mar 2019annual report● Neutral
Annual report for the year to 31 December 2018, the first after the March 2018 recapitalisation. The text is truncated, so no financial figures are stated here. It lists directors Warner, Kendrick and Pollak, with Stantons as auditor.
31 Oct 2018quarterly activities report▼ BadMajor
The Esmond #20-1 workover ended early after corroded tubing parted at about 4,500 feet, blocking access to the Upper Spraberry; the well is suspended at about US$65,000. Unrenewed exploration acreage fell to 160 net acres. Cash is about A$0.8m; acquisition due diligence is under way.
29 Oct 2018security holder rights change● Neutral
Company set up a sale facility for small holdings under A$500. 3,481 of about 3,812 holders qualify, together about 1.52% of shares. Holders can sell without brokerage or keep their shares by returning a form by 10 December 2018. Aims to cut administration costs.
3 Oct 2018drilling scheduled▲ GoodMajor
A study found bypassed oil in the Upper Spraberry on all four Big Star wells. A US$140,000 workover of Esmond #20-1 (100% working interest) is planned for October, targeting an estimated 20-40 bopd. It is the first operational step after the recapitalisation.
28 Sept 2018other● Neutral
Share registry Automic is moving its Sydney office from 2 October 2018. Administrative notice with no company-specific information.
13 Sept 2018half year report● Neutral
Half-year report to 30 June 2018, the first under the new board. Directors decided not to renew expiring exploration leases after interim findings on the acreage's prospectivity. Text is truncated, so no financial figures are stated here.
6 Aug 2018other● Neutral
Share registry changed from Security Transfer Australia to Automic Registry Services from 6 August 2018. Administrative.
3 July 2018other● Neutral
Full text of the company's new constitution, adopted by special resolution at the 31 May 2018 meeting. Administrative; no new business information.
7 June 2018listing compliance notice▲ Good
ASX confirms the trading suspension is lifted from the start of trading on Friday 8 June 2018, following the DOCA ending and the recapitalisation. Confirms the earlier notice.
6 June 2018other● Neutral
Distribution schedule shows 331,000,017 shares held by 4,115 holders. Holders with over 100,000 shares own 96.70% of the register. Statistical register data only; no new business information.
6 June 2018investor presentation● Neutral
Restates the prospectus strategy: Big Star in Dawson County, Texas has 5 wellbores (2 producing), 240 acres held by production and 1,747 net exploration acres, with no reserves or resources. Plans to optimise wells and acquire oil and gas assets.
6 June 2018listing compliance notice● Neutral
ASX removed the company's convertible notes (BNLG) from the official list at close on 6 June 2018. They had been suspended since 15 September 2015, and the removal follows the DOCA ending. Ordinary shares are unaffected.
6 June 2018listing compliance notice● Neutral
Pre-quotation letter to ASX confirms 331,000,017 shares and 75m unlisted options at reinstatement. It discloses ASIC's November 2017 Federal Court case against the company and former director James Cruickshank over continuous disclosure. ASIC seeks declarations only, not penalties or damages from the company.
6 June 2018listing compliance notice▲ GoodMajor
ASX announced the shares will be reinstated to official quotation at 10:00am on Friday 8 June 2018, ending a suspension since September 2015. There will be 331,000,017 quoted shares, plus 75m unquoted options at A$0.01 expiring 30 June 2020.
6 June 2018other● Neutral
Statement of commitments updates planned spending to actual funds raised: A$2,026,875 over two years. This includes A$880,000 on oil and gas and new project review, A$500,000 to the Creditors' Trust, and A$646,875 working capital.
6 June 2018other● Neutral
Corporate governance statement, current at reinstatement, sets out compliance with ASX governance recommendations. Administrative; the text is truncated and carries no new business information.
6 June 2018other● Neutral
Securities trading policy covering insider trading restrictions for directors and staff. Administrative document with no new business information.
6 June 2018other● Neutral
Top 20 shareholder list as at reinstatement: the top 20 hold 62.32% of the company. The largest holder (Pershing nominee) has 8.52%, and directors Joanne Kendrick and Ross Warner each hold 4.53%. Pager Partners entities also appear in the list.
6 June 2018security holder rights change● Neutral
Terms of the 75m First Placement Options: exercisable at A$0.01, expiring 30 June 2020, unquoted and freely transferable. Standard terms; repeats information already known.
4 June 2018other● Neutral
Company formally changed its name from Antares Energy to Big Star Energy after the 31 May shareholder approval. ASX reserved the ticker 'BNL' and a new website is live. Work with ASX on share reinstatement continues.
23 May 2018capital raising announcement▲ GoodMajor
Public offer closed, raising A$1.65m before costs from 165m new shares at A$0.01. It was oversubscribed and applicants were scaled back. The company is now working to complete the recapitalisation and be reinstated to ASX trading.
22 May 2018capital raising announcement● Neutral
Public offer closing date extended again, to 30 May 2018, with trading resumption now targeted for 7 June 2018. Another timetable slip.
16 May 2018capital raising announcement● Neutral
Public offer closing date extended again, to 23 May 2018, with trading resumption now targeted for 30 May 2018. Another timetable slip.
7 May 2018capital raising announcement● Neutral
Public offer closing date extended to 16 May 2018, with trading resumption now targeted for 24 May 2018. Timetable slip only.
3 May 2018regulatory community update● Neutral
ASX granted a waiver letting the company issue the Second Placement shares by 23 May 2018: 148m shares to unrelated parties and 2m to related parties, all at A$0.01. Procedural.
20 Apr 2018capital raising announcement● Neutral
Public offer closing date moved to 4 May 2018, with share trading targeted to resume 17 May 2018. Timetable change only.
11 Apr 2018capital raising announcement▲ GoodMajor
Prospectus for a public offer of 165m shares at A$0.01 to raise A$1.65m, also covering resale of the 150m First Placement Shares. It is a step toward ASX re-quotation; the document warns of the risk re-quotation requirements are not met.
9 Apr 2018capital raising announcement▲ GoodMajor
First Placement completed: 150m shares at A$0.0025 plus 75m unlisted options, raising A$376,875 before costs, following the 23 January 2018 EGM approval. First cash injected under the recapitalisation.
3 Apr 2018other● Neutral
Appendix 4G corporate governance checklist lodged with the 2017 annual report, dated 3 April 2018. Administrative; no new business information.