8 Aug 2024investor presentation● Neutral
Investor presentation on the Timor-Leste PSC 19-11 acquisition and the $6m entitlement offer. The extract shows only the disclaimer; the substance repeats the acquisition and raising announced the same day.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
1 Aug 2024other● Neutral
Finder lodged a revised Securities Trading Policy under Listing Rule 12.10. It is a governance document on insider trading rules for directors and staff, with no operational or financial news.
6 May 2024material agreement▲ GoodMajor
Finder won two more licences in the final UK 33rd Round awards: one between P2527 and P2528 near Buzzard (Finder 60% operator, with Dana), and one on the South Halibut Shelf (100%). Acceptance and joint venture terms are still to be finalised.
15 Apr 2024investor presentation● Neutral
April 2024 corporate presentation. The extract shows only the disclaimer, with no asset or financial detail, so nothing new can be drawn from it.
27 Mar 2024security holder rights change● Neutral
Notice that 82.5m shares, 10m performance rights, 5,512,500 lead manager options and 1.15m director options leave escrow on 8 April 2024. This resolves the escrow expiry thread; the shares are the large holding of Longreach.
15 Mar 2024half year report● Neutral
Half-year to 31 December 2023: loss of $2.11m (prior period $1.11m), closing cash and term deposits $8.37m. Reports the 50% P2610 award and the surrender of P2502 and P2524, ending the P2524 Phase C decision. BDO is now auditor.
19 Feb 2024regulatory community update▲ GoodMajor
WA-547-P (100% Finder) received a 3-year suspension and extension of its primary term to 4 January 2027, with no additional commitments. The permit holds the Brees, Favre and Brady prospects; Finder still seeks a farmout partner.
18 Dec 2023resource reserve update▲ GoodMajor
Finder released Boaz estimates for P2610 (Finder 50% operator, Equinor 50%): 748 Bcf gas and 81 MMbbl condensate gross mean prospective, 22% chance of success. Finder says total UK prospective resources have grown four-fold this month. Phase A studies aim to attract a farm-in partner.
7 Dec 2023auditor change● Neutral
ASIC consented to KPMG's resignation as auditor. BDO Audit Pty Ltd, approved at the 29 November 2023 AGM, is now the company's auditor.
7 Dec 2023resource reserve update▲ GoodMajor
Finder booked a Whitsun prospect estimate in P2528 (Finder 60%, Dana 40%): 150 MMbbl gross mean prospective oil, 26% chance of success. It is an analogue to the Buzzard Field. Finder has started a farmout to find a partner to fund drilling.
29 Nov 2023investor presentation● Neutral
Managing Director's AGM presentation. The extract shows only the disclaimer and the company's stated focus on farmouts across its portfolio; no new results or figures can be drawn from it.
29 Nov 2023other● Neutral
Chair's AGM address. She cites the Boaz licence award, the Dana partnership and the Equinor-partnered P2610, and expects more deal flow and portfolio additions in the new year. Says cash was preserved. No new figures.
2 Nov 2023material agreement▲ GoodMajor
Finder won a priority licence (blocks 16/8b and 16/13c) in the UK 33rd Licensing Round, bid with Equinor, with Finder as operator. It holds the Boaz gas/condensate prospect. Acceptance and joint venture terms are still to be finalised in coming weeks.
29 Sept 2023annual report● Neutral
Appendix 4G corporate governance checklist for the year to 30 June 2023, approved 18 September 2023, pointing to the full statement on the company website. Administrative filing with no commercial news.
29 Sept 2023annual report● Neutral
2023 annual report. The chair says management has focused on preserving cash, keeping a tight capital structure and securing permit extensions, and calls the coming year potentially defining. The extract shows no new farmout, and the financial figures are not in the text provided.
7 Sept 2023investor presentation● Neutral
September 2023 corporate presentation. The extract shows only the disclaimer and no asset or financial detail, so nothing new can be drawn from it.
27 June 2023resource reserve update▲ GoodMajor
Big Bird 3D reprocessing of P2530 (Finder 60%, Dana 40%) identified the Wagtail oil discovery (19 MMbbl gross 2C contingent, 57% chance of success) and the Bancroft (32 MMbbl) and Marsh (23 MMbbl) prospects. Resolves the pending resource update; a farmout to fund drilling is planned.
16 Mar 2023asset acquisition disposition▲ GoodMajor
Finder agreed to buy Fugro's 50% of AC/P 61, lifting its interest in the Gem prospect permit to 100%. Payment is a 1.5% royalty on future production, with Longreach's existing royalty bringing the total to 3%. Drilling still needs a farm-in partner. Subject to regulatory approvals.
15 Mar 2023half year report● Neutral
Half-year to 31 Dec 2022: loss of $1.11m (prior period $2.70m loss), closing cash and term deposits $10.5m. Finder repeats that the Dana farmouts extended its cash runway by more than 12 months. No new commercial news.
3 Jan 2023security holder rights change● Neutral
2,750,000 IPO-era performance rights (about 1.7% of capital) vested after the board and an independent expert found value targets met, citing farmouts since listing. Another 3,625,000 rights were issued, vesting at share prices of $0.27, $0.30 and $0.35.
24 Nov 2022investor presentation● Neutral
Managing Director's AGM presentation, 24 November 2022. The extract shows only the cover letter and disclaimer and no asset or financial detail, so nothing new can be drawn from it.
24 Nov 2022other● Neutral
Chair's address at the first AGM. It calls Kanga a dry hole with limited financial exposure, and cites the three Dana farmouts and $2.3m banked. Says the rest of the portfolio is being marketed for drilling funding. Nothing new.
23 Nov 2022investor presentation● Neutral
JP equity presentation, November 2022. The extract shows only the disclaimer and no asset or financial detail, so nothing new can be drawn from it.
22 Nov 2022farm in farm out completion▲ Good
The Dana farmouts of P2527, P2528 and P2530 have completed. £1.3m (A$2.3m) is now payable to Finder, which keeps 60% and operatorship of all three licences. This resolves the deals announced on 8 November.
21 Nov 2022resource reserve update▲ GoodMajor
Maiden prospective resource for P2524 in the UK North Sea, where Finder holds 40% (Harbour Energy 60%). Barracuda prospect has 67 MMboe gross mean at 31% chance of success; Amberjack and Trevally are lower-risk tie-back targets. Figures are Finder's own; Harbour's evaluation is ongoing.
16 Nov 2022investor presentation● Neutral
November 2022 roadshow presentation. The extract shows only the disclaimer and no asset or financial detail, so nothing new can be drawn from it.
14 Nov 2022listing compliance notice● Neutral
Responding to an ASX aware query, Finder said the Dana farmout talks were non-binding and confidential until the counterparty's approvals arrived on 7 Nov, so it had not disclosed them at the 2 Nov price query. It confirms the deals were material once signed.
8 Nov 2022farm in farm out agreement▲ GoodMajor
Finder signed farmouts giving Dana Petroleum 40% of UK North Sea licences P2527, P2528 and P2530, keeping 60% and operatorship. Finder gets £1.3m (A$2.3m) on completion plus Dana's share of work costs, extending its cash runway by over 12 months. Subject to regulatory approvals.
2 Nov 2022price query● Neutral
After the share price rose from $0.094 to an intra-day $0.15 on heavy volume, Finder told ASX it knew of no unannounced information explaining the trading. Six days later it announced three Dana farmouts (see later ASX aware query response).
17 Oct 2022investor presentation● Neutral
October 2022 corporate presentation. The extract shows only the disclaimer and no asset or financial detail, so nothing new can be drawn from it.