Past year: ▼ 35%(0.30c – 0.80c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
17 July 2014regulatory community update▼ Bad
Antares retracted the EUR slides from its 1 May 2014 presentation because the source data lacked information required for SPE-PRMS reporting, and cautioned investors against relying on them. It also gave contingent resource figures of 37 MMboe for Southern Star and 47 MMboe for Northern Star.
15 July 2014investor presentation● Neutral
Presentation of corporate history ahead of the general meeting, claiming the share price rose from 6.8c to 65c since July 2008 and that no director has sold a share. It lists past raisings and buy-backs; the company's own claims, no new operating facts.
8 July 2014other● Neutral
Notice of the quarterly convertible note interest payment on 31 July 2014: $0.0504 per AZZG note and $0.0175 per AZZGA note, record date 23 July. Routine administrative notice.
7 July 2014material agreement▲ GoodMajor
Antares received a confidential, non-binding USD300m letter of intent for all its Permian assets, with closing by 1 October 2014 if a sale agreement is signed. Echoes the USD300m deal withdrawn in February 2014; Cruickshank is meeting the bidder.
3 July 2014other● Neutral
Antares put Lone Star representatives on notice of possible defamation action over alleged false and misleading statements to shareholders. The board again recommends voting against the Lone Star resolutions at the upcoming general meeting.
2 July 2014admin correction● Neutral
Final 200,000 AZZGA notes issued, completing the 9.75m allotment. Corrects the earlier notice: all AZZGA notes earn interest from 30 June, not 1 July, to 31 July 2014.
2 July 2014capital raising announcement● Neutral
Appendix 3B for 9,550,000 AZZGA convertible notes at $2.00, part of the 9.75m placement. 10% interest, convert 1:3 into shares, mature 30 October 2023. Administrative follow-up to the 24 June raising.
24 June 2014capital raising announcement▲ GoodMajor
Antares raised $19.5m through 9.75m convertible notes at $2.00, heavily oversubscribed per the company. Notes on issue rise to 29.75m ($59.5m face). Funds go to its three Permian projects and other opportunities.
24 June 2014other● Neutral
Antares rebutted Lone Star's 13 June letter point by point: directors hold about 6% and have never sold, and the share price rose from $0.068 to $0.50 under Cruickshank. It denies a $979m capex plan and says it is in JV and divestment talks.
5 June 2014agm notice● Neutral
The general meeting on Lone Star's resolutions will be held 22 July 2014. The directors recommend shareholders vote AGAINST all resolutions.
29 May 2014agm notice● Neutral
The board will itself call the general meeting requested by Lone Star, at company cost, rather than let Lone Star call it. It says the meeting could sensibly have been avoided. Date to be advised.
29 May 2014other● Neutral
Chairman Cruickshank's letter to shareholders says Lone Star, with 5.01%, is seeking effective board control without paying a premium. The directors say a change of control should come with a fair offer for all shares. Advocacy, no new facts.
23 May 2014other▼ BadMajor
Lone Star, holding 5.01% (12.77m shares), formally requested a general meeting to elect five nominees and remove directors McAppion and Shoemaker. The board is considering its response. Turns the earlier press report into a formal board challenge.
15 May 2014other▼ Bad
Antares responded to a Bloomberg report that new substantial holder Lone Star Value wants an extraordinary meeting to nominate five directors. It said it had received no communication from Lone Star. Opens an activist contest.
15 May 2014capital raising announcement● NeutralMajor
Antares received applications for 1,415,000 more AZZG convertible notes at $2.00, raising $2.83m for its Permian projects. Notes on issue rise to 20m ($40m face), continuing the funding path chosen after the sale was withdrawn.
1 May 2014investor presentation● Neutral
May 2014 Houston presentation repeats Southern Star data: 4,697 net acres, 1Q 2014 output of 636 boepd net, and a development model with peak net output of about 11 Mboe/d. No new results announced.
30 Apr 2014quarterly activities report● Neutral
March quarter receipts were A$5.039m, down from A$7.01m. Robinson No. 2's water squeeze worked, and SLKT No. 1 and Barnes No. 1 are producing. Nearby Wolfcamp horizontals look encouraging. Company reports ongoing meetings with interested corporates over its Permian assets. A director resignation is flagged; text is truncated.
7 Apr 2014other● Neutral
Quarterly interest of $0.0488 per AZZG convertible note will be paid 30 April 2014 (record date 22 April). Routine administrative notice.
1 Apr 2014annual report● Neutral
2013 annual report: chairman says Northern Star looks commercially developable and the board is assessing sale of assets, joint ventures and funding options. Buy-backs total 45.3m shares at 41.1c average. COO Matt Gentry departed. Text is truncated.
11 Feb 2014investor presentation● Neutral
February 2014 Denver presentation repeats Southern Star facts: 4,697 net acres, 53 producing wells, 944 boepd net in 2013, and Robinson No. 1's record 9,999 boe in December 2013. Mostly known information; text is truncated.
5 Feb 2014material agreement termination● NeutralMajor
Antares withdrew from the USD300m Permian asset sale and will instead fund Northern Star development with 3D seismic and a first horizontal well. It cites funding options: A$70m of unissued note capacity and the Macquarie facility (about USD33m drawn). This reverses the pending sale.
5 Feb 2014listing compliance notice● Neutral
Trading in Antares shares (AZZ) and convertible notes (AZZG) resumed after the company released its strategic update. Ends the suspension that began 30 January 2014.
4 Feb 2014security holder rights change● Neutral
The 2,000,000 unquoted performance rights expiring 1 July 2015 lapsed as vesting conditions were not met, including 1m held by Cruickshank. Capital is 255m shares and 15m convertible notes. Administrative.
31 Jan 2014quarterly activities report● Neutral
December quarter receipts were A$7.01m, with record 2013 receipts of A$32.37m. Robinson No. 1 hit a record month of 9,999 boe. Debnam 22 No. 1 is now producing about 49 boepd after a blockage. Cold weather caused delays. The text is truncated.
30 Jan 2014listing compliance notice▼ BadMajor
Antares' shares and notes were suspended at its own request, after a trading halt from 28 January, pending an operations announcement expected by 5 February 2014. This comes while the USD300m Permian sale was still pending.
22 Jan 2014drilling progress report● Neutral
Cozart 11, Pettaway, SLKT and Barnes wells are fracced and cleaning up, with no stable rates yet. Debnam 22 No. 1 had a blockage removed. Robinson No. 2's water source was cement squeezed. Company sees Wolfcamp horizontal potential nearby.
8 Jan 2014drilling progress report▲ Good
Cozart 11 No. 1 and SLKT No. 1 were fracced in December and are recovering frac fluid, with no flow rates yet. Pettaway No. 1 reached TD at 12,166 ft and Barnes No. 1 is being fracced. Robinson No. 1 set a record month of 9,999 boe.
7 Jan 2014other● Neutral
Quarterly interest of $0.0504 per AZZG convertible note will be paid 31 January 2014 (record date 23 January). Routine administrative notice.
19 Dec 2013other● Neutral
The registered office and principal place of business moved to 63 Hay Street, Subiaco WA. Administrative notice only.
29 Nov 2013well test result▼ Bad
Debnam 22 No. 1, the deepened Northern Star well, averaged only 52 bopd (59 boepd) over 30+ days, with 192 barrels of water a day. Robinson No. 2 has high water and needs a cement squeeze. Cozart 11 frac is set for December.
