Past year: ▼ 41%(7.70c – 16.5c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
21 Sept 2023annual report● Neutral
FY2023 annual report: underlying loss after tax $6.57m (2022: $8.63m) and cash $11.7m at 30 June 2023. It recaps Mahalo North's 1.75 MMcfd pilot, the certified reserves and resources, the $24m placement, the Santos loan repaid and the CleanCo agreement signed 18 September. Text is truncated.
19 Sept 2023material agreement▲ GoodMajor
COI executed its first gas sales agreement, a seven-year deal with Queensland Government-owned CleanCo for 3 PJ a year (21–25 PJ total), starting between 1 July 2025 and 30 June 2026. It resolves the long-running negotiation but needs Queensland Government approval and depends on FID and finance. Monthly repayments also cover Stanwell's earlier investment.
6 Sept 2023investor presentation● Neutral
Managing Director's Good Oil and Gas Conference presentation recaps the last 18 months' achievements, including the $24m placement, Jemena as pipeline partner and the CleanCo agreement, plus the Gas Code exemption for small producers. No new results are evident. Text is truncated.
25 Aug 2023material agreement● Neutral
The CleanCo gas sales agreement is moving through each party's approvals and is expected to be signed in mid-September 2023. The negotiating period, which was due to expire 31 August, is extended a fourth time, to 30 September.
31 July 2023quarterly activities report● Neutral
June 2023 quarter: cash fell to $11.7m (from $14.6m). The Federal gas code started 11 July and COI is exempt from the price cap as a domestic-only small supplier. First APLNG deferred payment made 28 June (COI $1.14m). CleanCo negotiating period extended to 31 August. Text is truncated.
18 July 2023auditor change● Neutral
Pitcher Partners is appointed auditor after an audit tender and PwC's resignation, with ASIC consent. PwC had served four years. The board will seek shareholder ratification at the next AGM. No reason beyond the tender process is given.
23 June 2023material agreement▲ GoodMajor
The CleanCo gas sales agreement is now substantially completed, with the negotiating period extended a third time, to 31 August 2023, so final Federal gas code requirements (expected in July) and board approvals can be included. It is still unsigned; it would be COI's first Mahalo gas sales agreement.
7 June 2023investor presentation● Neutral
Managing Director's Bell Potter East Coast Energy Roundtable presentation recaps achievements of the last 18 months and the east coast supply outlook. No new results are evident. Text is truncated.
16 May 2023material agreement▲ GoodMajor
COI signed a non-binding MOU with Orica for long-term Mahalo North gas supply to its Yarwun plant near Gladstone. Binding terms and funding structures are still to come, and the deal depends on securing a pipeline connection to the Queensland Gas Pipeline.
12 May 2023material agreement▲ GoodMajor
COI signed an MOU and pre-FEED agreement with Jemena for a roughly 73 km pipeline from Mahalo North to the Queensland Gas Pipeline, for at least 25 TJ/d. Jemena would build and own it. It runs parallel to the Denison route and adds a larger option.
28 Apr 2023quarterly activities report● Neutral
March 2023 quarter: cash $14.6m. Draft gas code released 26 April keeps a $12/GJ price cap but exempts smaller domestic-only producers, which COI sees as positive. Buyers are showing interest in funding projects. CleanCo talks extended to 30 June.
14 Mar 2023half year report● Neutral
Half-year to 31 December 2022: loss $3.67m (prior period $2.49m), higher due to finance costs. Cash $16.3m. COI's share of Mahalo Hub 2P reserves plus 2C resources is 406 PJ. Text is truncated.
14 Mar 2023material agreement▼ Bad
The CleanCo gas sales agreement negotiating period is extended again, to 30 June 2023, because the draft Mandatory Code of Conduct has not yet been released. This is the second extension, and no agreement is signed.
9 Feb 2023investor presentation● Neutral
Managing Director's Bell Potter Unearthed presentation repeats the Mahalo strategy and the recent Mahalo North reserves and Mahalo East resources. No new results are evident. Text is truncated.
31 Jan 2023quarterly activities report● Neutral
December 2022 quarter: cash $16.3m. COI says it will prioritise cash on Mahalo North development over further appraisal while Federal gas market intervention creates uncertainty. Mahalo East certification and the CleanCo extension to 31 March are recapped. Text is truncated.
30 Jan 2023joint venture update▲ GoodMajor
COI and Denison Gas will jointly fund a Verbrec FEED study to upgrade Denison's infrastructure to process up to 10 TJ/d from Mahalo North. Commercial terms follow the study, advancing the early-gas route to market.
21 Dec 2022material agreement▼ Bad
The CleanCo gas sales agreement negotiating period is extended from end-2022 to 31 March 2023, missing the end-December execution target. COI cites recent market uncertainty; the agreement is still unsigned.
19 Dec 2022resource reserve update▲ GoodMajor
Sproule certified Mahalo East (100% COI) at 31 PJ 2C and 122 PJ 3C contingent resources, delivering the year-end certification expected. If appraisal converts them to reserves, COI's net 3P across Mahalo would be nearly 500 PJ. A pilot test is still required first.
25 Nov 2022other▲ Good
Chairman's AGM address calls 2021/22 the most successful year yet, recapping the APLNG purchase, Santos option, Mahalo North reserves and $24m placement. It expects CleanCo's agreement by end of December and a Mahalo East contingent resource before year end. No new figures.
25 Nov 2022investor presentation● Neutral
AGM presentation shows 3P reserves at 372 PJ (up 103% on a year earlier) and 2P at 195 PJ (up 84%). Share price was $0.185, market value $187m. Otherwise repeats the strategy. Text is truncated.
25 Nov 2022agm notice● Neutral
All resolutions at the 25 November 2022 AGM passed on a poll. Shares on issue at the record date were 1,010,373,085. Administrative result with no new business information.
10 Nov 2022investor presentation● Neutral
Managing Director's Noosa conference presentation repeats the strategy: build Mahalo reserves, pursue an early Mahalo North gas scheme, develop Mahalo with Santos, and appraise Mahalo East (target 2023). No new results. Text is truncated.
10 Nov 2022investor presentation● Neutral
This is Vintage Energy's own Noosa conference presentation, covering its Cooper Basin Vali gas start-up (first gas expected December 2022) and reserves. It carries no new COI information, though Vintage is COI's Galilee Basin partner. Text is truncated.
2 Nov 2022resource reserve update▲ GoodMajor
First independently certified reserves for 100%-owned Mahalo North: 1P 11.9 PJ, 2P 42.9 PJ, 3P 110.2 PJ. This resolves the targeted certification and adds 28% to COI's net 2P and 42% to net 3P reserves. A development decision awaits transport arrangements and petroleum lease approval.
27 Oct 2022quarterly activities report▲ Good
September 2022 quarter: cash $18.1m after the $24m placement, and the Santos loan is fully repaid. Santos option completed, leaving COI at 57.14% of Mahalo. Mahalo North 1 peaked at 1.75 MMcfd, with initial reserves 'imminent' and CleanCo agreement targeted by end of December. Text is truncated.
5 Oct 2022agm notice● Neutral
COI will hold its annual general meeting at 11:00am on 25 November 2022, with director nominations closing 13 October 2022. Administrative notice only.
30 Sept 2022annual report● Neutral
FY2022 annual report: underlying loss after tax $8.63m (2021: $6.96m), cash $7.42m at 30 June, pro forma $30.2m after the $24m placement. CleanCo gas sales talks are described as materially progressed. Repeats known Mahalo and Galilee events. Text is truncated.
30 Sept 2022other● Neutral
Appendix 4G, the checklist pointing to where COI's corporate governance disclosures can be found. Administrative filing with no new business information. Text is truncated.
30 Sept 2022other● Neutral
Annual corporate governance statement dated 28 September 2022, setting out board practices against ASX guidelines. Administrative disclosure with no new business or financial information. Text is truncated.
26 Sept 2022farm in farm out completion● NeutralMajor
Santos exercised its option to take 12.86% of the Mahalo Gas Project, cutting COI from 70% to 57.14%. The $13.15m Santos loan falls by $5.14m to $8.01m, to be repaid 28 September. Santos takes $3.43m of the $8m deferred payment to APLNG.
