Past year: ▼ 90%(0.80c – 12.5c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
28 May 2014joint venture update▼ BadMajor
Gazelle FID will miss the first-half 2014 target because the Grand Bassam-Abidjan pipeline lagged; Azonto now expects FID by end 2014 and first gas by mid-2016. Ophir and Tap are withdrawing from Accra, leaving Azonto Ghana and Afex 45% each, and a partner search has begun.
28 May 2014investor presentation● Neutral
Notice that a BRR Media webcast with Rob Shepherd, billed as an operational update ahead of the AGM, is available from 28 May 2014. The notice itself carries no substantive information.
22 May 2014other● Neutral
Non-executive director Andrew Sinclair bought 1,240,000 shares at A$0.023 on 21 May 2014, taking his holding to 1,963,333 shares (0.17%). Small director purchase.
19 May 2014director officer appointment▲ Good
Francis Gryspeerdt, a petroleum geologist with over 20 years at Perenco, joins as VP Subsurface from 12 May 2014. Adds to the technical team building after Smulders' appointment.
15 May 2014other● Neutral
Azonto announces a new corporate website at www.azpetro.com. No substantive information.
13 May 2014resource reserve update● NeutralMajor
An updated RPS report put Gazelle gross contingent resources at 47 bcf of gas (1C) and 92 bcf (2C), in line with Vioco's assumptions. Post-tax value to Vioco ranged from US$9-18m (1C) to US$149-168m (3C), and the field still awaited plan approval and FID.
9 May 2014other▲ Good
Shepherd and Rose each bought 2.4m shares and new Technical Director Smulders bought 4.0m shares on 8 May 2014, all at 1.25p. Shepherd now holds 9,992,945, Rose 6,663,230, Smulders 4,000,000. Small director purchases.
1 May 2014annual report● Neutral
Annual report for the six-month period to 31 December 2013, titled 'New beginnings'. Restates the 35% Vioco interest, 57% of Azonto Ghana, the new CI-202 PSC and the strategy of discovered West African hydrocarbons. No new information beyond the earlier results.
16 Apr 2014investor presentation● Neutral
Rob Shepherd presents at a Namibia conference on 15 April 2014. Slides restate the Vitol deal (Azonto 35% of Vioco), Gazelle at 85 bcf P50, about US$190m capex to first gas and a US$30m market cap. Largely repeats known facts.
31 Mar 2014annual report● Neutral
Full financial report for the six months to 31 December 2013 (year-end changed from June). Net loss A$6.1m, mainly a A$3.4m loss on selling 65% of the Côte d'Ivoire subsidiary. Repeats the 31 March results; the prior 12 months' loss was A$170.6m.
31 Mar 2014half year report● Neutral
Six-month results to 31 December 2013 show a A$6.1m net loss, mainly a A$3.4m loss on selling 65% of Rialto CdI. Admin costs were A$3.5m. Cash was A$9.4m plus a A$4.8m receivable from Vioco.
26 Mar 2014regulatory community update● NeutralMajor
Ghana grants another six-month extension of the Accra exploration period, now to 23 September 2014. Azonto Ghana is 57% Azonto and 43% Vitol. It plans further studies on Starfish-1 and talks with potential new partners.
19 Mar 2014director officer appointment▲ Good
Gert-Jan Smulders, ex-Tullow Oil with a West Africa focus, is appointed Technical Director from early May 2014. This fills the Technical Director vacancy the company had been seeking.
11 Mar 2014investor presentation● Neutral
Rob Shepherd presents at a Sydney conference. Slides give a market cap of US$30m, restate the Vitol deal (Azonto 35% of Vioco) and Jan 2013 resource estimates, and set a strategy of discovered West African hydrocarbons. Largely repeats known facts.
4 Mar 2014admin correction● Neutral
Re-release of the 3 March executive appointments announcement, correcting Andrew Rose's effective date from 3 March 2013 to 3 March 2014. No other change.
3 Mar 2014director officer appointment● Neutral
Gregory Stoupnitzky becomes Head of Business Development and an executive director, CFO Andrew Rose joins the board as an executive director, and Andrew Sinclair becomes Senior Independent Director. Continues the board rebuild.
31 Jan 2014investor presentation● Neutral
Notice of an analyst and investor conference call at 8am Perth time on 31 January 2014. It carries no substantive information.
14 Jan 2014investor presentation● Neutral
Azonto announces an analyst and investor presentation in London on 14 January 2014, with slides to be posted on its website. The notice itself carries no new information.
12 Dec 2013other● NeutralMajor
Rialto renames itself Azonto Petroleum Ltd, after shareholder approval, trading as APY on ASX from 13 December 2013 (AZO on AIM). It also moves its financial year-end from 30 June to 31 December, with the next AGM in May 2014.
28 Nov 2013other▲ Good
Non-executive directors Gregory Stoupnitzky and Andrew Sinclair bought 500,000 and 390,000 shares at A$0.038 on 26-27 November 2013. Their holdings are now 1,333,333 and 723,333 shares. Small director purchases.
25 Nov 2013investor presentation● Neutral
AGM presentation recaps 2013: board and management overhaul, Vitol deal and new PSC. Outlines Gazelle plan of 3 wells, about US$120-140m net capex to first gas 14-18 months after FID, and a Ghana decision by March 2014. Largely repeats known facts.
25 Nov 2013other▲ Good
Chairman Andrew Bartlett bought 470,000 shares on 22 November 2013 at an average 2.10 pence, taking his holding to 2,136,667 shares. A small director purchase.
19 Nov 2013director officer appointment● Neutral
Interim CFO Andrew Rose is appointed permanent CFO from 1 December 2013, conditional on AGM approval of the performance rights plans. His package is 16,252,947 rights, and he is expected to be nominated to the board.
13 Nov 2013other▲ Good
CEO Rob Shepherd bought 836,278 shares on 11 November 2013 at an average 2.28 pence, taking his holding to 7,502,945 shares. A small insider purchase.
8 Nov 2013farm in farm out completion▲ GoodMajor
New CI-202 PSC signed 7 Nov 2013 and Vitol completes its purchase of 65% of Rialto CdI for a US$50m development loan. Resolves the September MoU and Vitol deal. Rialto CdI now holds 87% of the PSC, and remains operator.
21 Oct 2013annual report● Neutral
The 2013 Annual Report repeats the results already released: A$170.6m loss, A$150.8m CI-202 impairment, A$5.8m cash. The chairman and MD say recent developments have put the company on a solid footing. Gazelle results were below expectations and contingent resources fell to 40 MMbbl and 270 Bcf.
10 Oct 2013other▲ Good
Non-executive director Gregory Stoupnitzky bought 500,000 shares at A$0.029 on 8 October 2013, taking his holding to 833,333 shares. A small director purchase.
7 Oct 2013investor presentation● Neutral
MD Rob Shepherd presents at the Oilbarrel conference in London, restating the Vitol partnership, CI-202 prospective resources of 897 MMbbl plus 2.936 Tcf, and board and management changes. Largely repeats known facts.
30 Sept 2013annual report▼ BadMajor
Full-year results show a net loss of A$170.6m (2012: A$10.2m), driven by a A$150.8m CI-202 impairment tied to the Vitol deal terms and A$11.6m of rig termination costs. Cash was A$5.8m; admin costs fell to A$7.9m.
24 Sept 2013director officer appointment● Neutral
RFC Ambrian is appointed Nominated Adviser and Joint Broker with immediate effect. It joins GMP Securities and Euroz as brokers. Routine adviser change; no reason is given in the text.
