Past year: ▲ 0%(25.0c – 36.0c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
31 July 2008quarterly activities report▲ Good
June 2008 quarter: the Santos rig is on site and preparing to spud Kahlua #1. A second rig is imminent and a major seismic survey is on track for August. The PEL 454 magnetotelluric survey data were collected and are being interpreted.
25 July 2008security holder rights change● Neutral
Timetable for the proposed share capital reorganisation: shareholder meeting 15 August 2008, normal trading from 1 September 2008. Announced 11 July 2008; this notice adds only dates.
29 Apr 2008quarterly activities report● Neutral
March 2008 quarter: contracts for Santos's seismic and drilling are in place, but wet weather delays start. First well Kahlua #1, a cored hole to about 620 m in northwest PEL 1, is imminent. About 400 km of 2D seismic is planned. Cash was $866,379.
28 Mar 2008annual report● Neutral
2007 accounts: loss of $120,466 versus $68,624 in 2006. Santos farm-in progress is delayed by contractor shortages, with drilling said to be imminent. Santos also farmed into neighbouring tenements (PELs 450/452, PSPA 15). Directors unchanged.
30 Jan 2008quarterly activities report▲ GoodMajor
December 2007 quarter: PEL 12 renewed for four years with a $5 million work commitment over years 1-2, which Santos's farm-in program is expected to meet. BHP Billiton agreed access and compensation terms for coal drilling on Glasserton. PEL 454 ground work still undated.
31 Oct 2007quarterly activities report▲ Good
September 2007 quarter: Santos is planning core drilling in PELs 1 and 12, scheduled for early 2008 subject to contractors. Seismic data from a DPI survey, extended 9.5 km at ACM's expense, is described as excellent quality. Santos has started the igneous study.
13 Sept 2007half year report● Neutral
Half-year to 30 June 2007: loss of $45,438 versus $31,450 a year earlier. Notes the DPI Watermark drilling added little to gas understanding, and that Apex bought Sun Resources' 14% of PEL 454, lifting Apex to 70% with ACM at 30%.
27 July 2007quarterly activities report▲ Good
June 2007 quarter: the arbitration over Georges Island access is resolved by the Glasserton purchase. Santos farm-in (25% for $10M, then 40% more for $30M) confirmed. Benelebri drilling approvals lodged; drilling hoped by Q4 2007. No field work this quarter.
27 July 2007asset acquisition disposition▲ Good
The company bought the freehold property "Glasserton" in PEL 1 to ease access for production testing at the Georges Island gas prospect. No price is given. It follows the landowner access arbitration begun earlier in 2007.
18 June 2007farm in farm out agreement▲ GoodMajor
Santos signed a farm-in on PELs 1 and 12: it earns 25% by spending at least $10 million over 18 months, then a further 40% by spending at least $30 million over 24 months. Santos becomes operator. This follows the August 2006 call for partners.
22 May 2007agm notice● Neutral
AGM results: the 2006 accounts and remuneration report were accepted and S.J. Danielson was re-elected, all by show of hands.
30 Apr 2007quarterly activities report▲ Good
March 2007 quarter: no field work. An arbitration hearing began on landowner access and compensation for Georges Island production testing. PEL 454 was granted from the Sydney Basin application. Cash ended at $1.79 million.
16 Apr 2007annual report● Neutral
Re-release of the 2006 annual financial report with a shareholder information section added. The loss was $68,624. Otherwise same content as the earlier accounts filing.
8 Mar 2007annual report● Neutral
2006 annual accounts: loss of $68,624 versus $149,846 in 2005. Operations review repeats the Longlea and Georges Island results. Directors unchanged.
31 Jan 2007quarterly activities report● Neutral
December 2006 quarter: field work again limited to rehabilitation and monitoring. Planning data work for Benelebri and Napier drilling sites. Preliminary talks are underway with farm-in respondents. PELA 78 title still not granted.
30 Oct 2006quarterly activities report● Neutral
September 2006 quarter: only site rehabilitation and monitoring of DPI Watermark holes in the field. Data packages went to parties interested in the farm-in. A formal grant offer for PELA 78 in the Sydney Basin venture was received.
12 Sept 2006half year report● Neutral
Half-year to 30 June 2006: loss of $31,450 versus $56,829 a year earlier. Restates that Longlea and Georges Island drilling finished but quantitative testing was largely unsuccessful due to equipment faults.
7 Aug 2006joint venture update● NeutralMajor
The company is seeking joint venture partners for two areas, the Maules Creek Sub-Basin in PEL 1 and the Bando Trough in PEL 12, so it can concentrate on Georges Island and Longlea. It is a call for interest, not a deal.
31 July 2006quarterly activities report● Neutral
June 2006 quarter: well testing at Georges Island was cut short by equipment failure, so Longlea #1 is untested. Tests showed high permeability but weaker connection between GI#2 and GI#3. A collaboration with NSW Department of Primary Industries (DPI) on its Watermark drilling was agreed. Southwest Sydney Basin licence grant (PSPA 10) still awaited.
19 July 2006security holder rights change● Neutral
Net $118,053 is payable to former holders of the forfeited shares, or $0.12 per share, after the auction sold all 983,775 shares.
17 July 2006security holder rights change▲ Good
All 983,775 forfeited shares were sold at auction on 14 July 2006 at prices from 18 to 27 cents per share. Total proceeds were $232,319.25.
10 July 2006security holder rights change● Neutral
Redemptions of forfeited shares now total 26,750 of the 1,015,978 forfeited. The auction remains set for 14 July 2006.
3 July 2006security holder rights change● Neutral
Repeat update: 25,387 forfeited shares redeemed so far, out of 1,015,978. The remainder go to auction on 14 July 2006. No new information.
27 June 2006security holder rights change● Neutral
Administrative notice that the forfeited shares will be auctioned at 11am on 14 July 2006 at the ASX Boardroom, Sydney.
26 June 2006security holder rights change● Neutral
Holders have redeemed 25,387 of the 1,015,978 shares forfeited on 16 June 2006. The rest remain set for auction on or before 14 July.
19 June 2006security holder rights change▼ Bad
Final count: 1,015,978 shares were unpaid at the end of 16 June 2006 and are now forfeited. They will be auctioned on or before 14 July unless holders redeem them by paying the call and expenses.
16 June 2006security holder rights change▼ Bad
Preliminary notice: the 10 cent call was unpaid on 1,019,978 shares at 12.30pm on 16 June 2006. Unpaid shares will be forfeited and auctioned around 14 July unless redeemed. Continues the call shortfall thread.
5 June 2006capital raising announcement● Neutral
The 10 cent call raised $1,697,239 on 16,972,390 shares, short of the $1.88 million targeted. Shares still unpaid after 16 June will be forfeited and auctioned, expected around 14 July 2006.
What it means for a shareholder
17.0m new shares at about A$0.100 to raise about A$1.7m. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
Create a free account to see this worked out for your own holding.
24 May 2006agm notice● Neutral
AGM results: the 2005 accounts and remuneration report were accepted and M.P. Lincoln Smith was re-elected as a director, all by show of hands.
15 May 2006security holder rights change● Neutral
Formal notice of the 10 cent call, due 2 June 2006, leaving 20 cents unpaid per share. Unpaid shares face forfeiture and auction. Directors say they will pay, and the last price was $0.16.
