Past year: ▼ 35%(0.30c – 0.80c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
27 May 2020resource reserve update▲ GoodMajor
Independent assessment by Sproule gives a 3 BCF P50 unrisked prospective helium resource, net to the company, across Enterprise (2,296 mmcf) and Galileo (725 mmcf). It is a first resource estimate for a company with no well drilled. One Enterprise well is planned, with dry hole cost about US$300k.
4 May 2020investor presentation● Neutral
Managing director update restating the helium strategy and the 121,086 gross (64,924 net) acre position. Says an independent resource report is due soon and drilling costs may fall. Contains no new results or figures.
30 Apr 2020quarterly activities report● Neutral
March quarter: leased acreage rose to 121,086 gross (64,924 net) acres and cash fell to about A$0.50m from A$1.14m. An independent resource assessment of Enterprise and Galileo is due in the June quarter. The Texas assets are now held for sale; Simmons remains the only producer.
30 Apr 2020other● Neutral
Company renamed from Big Star Energy to Blue Star Helium following shareholder approval at the 24 April 2020 general meeting. The ASX code BNL is unchanged. ASIC has processed the change; ASX will reflect it in due course.
1 Apr 2020annual report● Neutral
Annual report for the year to 31 December 2019, in the usual statutory format. The visible text is only the directors' report and contents, with no financial figures shown. It confirms Pollak resigned on 25 March 2020.
1 Apr 2020other● Neutral
Appendix 4G corporate governance checklist lodged with the annual report for 2019. It points to the corporate governance statement and carries no new business information.
30 Mar 2020asset acquisition disposition▲ Good
A further 11,981 net acres leased at a March BLM auction and from private owners, taking holdings to 121,086 gross (64,924 net) acres. This more than doubles the net position at Enterprise and adjacent Galileo. Winning bids ran up to US$52/acre; an independent resource evaluation is commissioned.
26 Mar 2020director officer appointment● Neutral
Non-executive director Michael Pollak resigned for personal reasons, effective immediately. He joined at the March 2018 relisting. The resolution to issue him management options at the upcoming meeting has been withdrawn. He remains supportive of the helium strategy.
25 Mar 2020agm notice● Neutral
Shareholder meeting set for Perth on 24 April 2020 will run as a hybrid meeting because of COVID-19. Directors urge shareholders to vote by proxy, send questions in advance, or join by phone or online rather than attend in person.
25 Feb 2020asset acquisition disposition▲ Good
Another 17,612 gross (12,912 net) Colorado helium acres leased from 22 state auction leases and 8 private leases, lifting the total to 110,055 gross acres. Leased acreage now covers 15 elevated soil gas helium readings, the highest 106% above atmospheric. Prospective resource estimation is under way.
31 Jan 2020quarterly activities report▲ Good
December quarter: leased acreage grew to 92,443 gross (50,692 net) acres, though only about 38,000 net acres are confirmed so far by due diligence. Cash A$1.14m. Percy Creek exit confirmed; Simmons remains the only producing well. Offtake talks with helium buyers have begun.
19 Dec 2019asset acquisition disposition▲ Good
A further 5,440 net acres leased within existing gross acreage, lifting the total to 92,443 gross (50,692 net) acres. Lease bonus is due by 23 April 2020 after due diligence, and the acreage is still to be verified.
17 Dec 2019capital raising announcement▲ GoodMajor
Placement of 146,749,450 shares at 0.6c raising A$880,497, the maximum under current capacity, led by Pamplona for a 6% fee. Funds go to helium leasing and exploration. Aims for a 3-5 well drilling campaign starting in the second quarter of 2020.
What it means for a shareholder
147m new shares at A$0.006 to raise about A$880,497. That's 20% dilution: every existing holder's slice gets 20% smaller. If you held A$1,000 of shares (166,667 at the issue price), your slice goes from 0.0284% to 0.0227% of the company. To keep it you'd need 41,667 more shares - about A$250 at the issue price.
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12 Dec 2019asset acquisition disposition▲ Good
Another 5,440 net acres leased within existing gross acreage, taking the net total to 45,251 of 92,443 gross acres. Enterprise leases are 6 miles from the Model Dome helium field. Lease bonus is due by 17 April 2020 after due diligence.
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.
31 Oct 2019quarterly activities report● Neutral
September quarter: cash A$0.26m, with A$0.587m raised after quarter end. Enterprise leasing reached 5,120 gross acres. Percy Creek is being considered for disposal to focus on helium. Simmons still the only producing Texas well; the other three remain shut in.
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.
