Past year: ▼ 90%(0.80c – 12.5c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
16 Apr 2007material agreement▲ GoodMajor
Rialto signed a three-year international joint venture with Challenger Minerals, the oil and gas arm of GlobalSantaFe. It gives a right to join offshore projects with at least 10% equity, plus drilling services access, excluding the US Gulf of Mexico and North Sea.
4 Apr 2007drilling progress report● Neutral
Announcement of the start of the 2D seismic survey in WA-291-P. Only a survey map is readable, so no further detail is available.
16 Mar 2007half year report● Neutral
Half-year to 31 Dec 2006: loss of $267,789. Tap Oil is arranging a 750km 2D seismic survey in WA-291-P for early 2007, and Rialto is still reviewing growth opportunities in Australia, Africa and elsewhere.
31 Jan 2007quarterly activities report● Neutral
December 2006 quarter cash report: cash fell to $3.215 million after a $134,000 net outflow. Exploration spending of $600,000 is forecast for next quarter, likely linked to the planned WA-291-P seismic.
31 Oct 2006quarterly activities report● Neutral
September 2006 quarter cash report: the IPO completed, raising $2.9 million gross, and cash at quarter end was $3.349 million. Spending was small at $228,000 net operating outflow, with $25,000 of exploration planned next quarter.
31 Oct 2006annual report● Neutral
First annual report (21 Nov 2005 to 30 Jun 2006). It confirms the April 2006 farm-in to WA-291-P (30% interest, earned by funding seismic up to $900,000) and the oversubscribed $2.9 million IPO, with the ASX listing in July 2006.
26 July 2006other● Neutral
Rialto Energy's constitution, adopted by special resolution, sets out share rights, calls, liens and minimum shareholding rules. Standard corporate governance document with no new commercial information.
7 June 2006capital raising announcement● NeutralMajor
Rialto Energy (later Calima Energy) issued its IPO prospectus: 8,083,333 shares at 30 cents to raise $2.425 million, plus up to $500,000 oversubscriptions, with one free $0.60 option per two shares. Hartleys is lead broker.
What it means for a shareholder
8.1m new shares at A$0.300 to raise about A$2.4m. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
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