Past year: ▲ 0%(0.10c – 0.10c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
25 Nov 2022other● Neutral
MD's AGM address: says the new Philippine administration appears pro-business, and the company chose to discuss SC 44 with the new Energy Secretary before lodging ICC arbitration. It is discussing rig-for-equity ventures. French hearing date still awaited; the two Australian farm-ins were cancelled.
3 Nov 2022regulatory community update● Neutral
Addendum to the September quarter report: tenement schedule shows only SC 44 (100%, Cebu, 750 km2), listed as expired and terminated by the DOE, with remedies subject to ICC arbitration unless the DOE reinstates it. Confirms the Santos farm-in ended with no new deals.
29 Sept 2022annual report● Neutral
FY2022 annual report. Chairman says the July 2021 offer raised $158,805 and directors took 1,992m shortfall shares ($5.97m) against loans. Surat farm-ins were not completed, Santos farm-in ended, and ICC arbitration over SC 44 is still planned. Mostly repeats known matters.
29 Sept 2022annual report● Neutral
Appendix 4G and corporate governance statement for the year to 30 June 2022, with the statement on the company website. Administrative compliance document with no new business information.
21 Sept 2022material agreement termination▼ BadMajor
Gas2Grid and Santos agreed to terminate the proposed Cooper Basin farm-in because the work commitments cannot be met within the licence time frames. The company is seeking other Cooper Basin farm-ins, leaving it with no Australian project.
6 Sept 2022regulatory community update▼ BadMajor
The Conseil d'Etat declined to admit the company's appeal over the annulled €383,500 penalties, which had been paid in 2018. This ends that appeal; lawyers are advising on further steps. The €34.35m claim still awaits a hearing date.
28 June 2022regulatory community update▼ Bad
The 29 June hearing on the €34.35m claim has been postponed to a date the Tribunal will advise. This reverses the date set two weeks earlier, leaving the claim without a hearing date again.
14 June 2022regulatory community update▲ Good
The Pau Tribunal has set 29 June 2022 for the hearing of the €34.35m (about A$51m) claim against the French Government. Company says it has a good chance of success, but the outcome is uncertain. This is the first hearing date after the long wait.
6 Apr 2022farm in farm out agreement▲ GoodMajor
Binding term sheet with Santos to acquire 60% of Cooper Basin licences ATP 1063 and ATP 1174 by funding 100km of 2D seismic and one well (about $3m). Replaces the lapsed Armour deal; equity raising will be needed and work programs need government amendment by 1 Oct 2022.
31 Mar 2022material agreement termination▼ Bad
Armour's version of the end of the Surat farm-in: it says Gas2Grid advised it would not proceed because of commercial issues securing tenure during the earn-in phase, which it judged unacceptable non-technical risk. Duplicates the company's 30 March notice with added reason.
30 Mar 2022material agreement termination▼ BadMajor
Gas2Grid and Armour have ended attempts to finalise binding agreements for the Surat Basin farm-in proposed in November 2021. The company keeps looking for onshore eastern Australian assets. This ends its only announced Australian project, despite January's 'nearly finalised' statement.
15 Mar 2022half year report● Neutral
Interim report to 31 Dec 2021 repeating known matters: ICC arbitration being prepared over SC 44, the €34.35m French claim awaiting a hearing date, and the Conseil d'Etat appeal on the penalties still undecided. Financial figures are not visible in the text.
2 Feb 2022investor presentation● Neutral
Investor presentation on the Armour Surat Basin farm-in, targeting gas sales by end 2022 from Riverside, with Riverside North-1 drilled by June 2022 and further wells in 2023. Repeats the November 2021 heads of agreement; shows 4,089m shares and a $0.003 price.
22 Nov 2021farm in farm out agreement▲ GoodMajor
Non-binding heads of agreement with Armour Energy to earn 50% of the Riverside and Myall-Bainbilla blocks in Queensland's Surat Basin by funding seismic and three wells, over $12m in total. Drilling is targeted for early 2022. It gives the company its first Australian project since the Philippine termination.
22 Nov 2021farm in farm out agreement▲ Good
Armour's own announcement of the same non-binding farm-in: Gas2Grid would earn 50% of 519 km2 of Surat acreage by funding over $12m of seismic, three wells and fracture stimulation. Three months are allowed to finalise binding agreements. Duplicates the company's announcement.
15 Nov 2021other● Neutral
AGM address repeating known points: SC 44 terminated, with ICC arbitration threatened if not reinstated. The French claim's final submissions close 26 November. Farm-in talks in Australia are at an advanced stage.
29 Sept 2021annual report● Neutral
Corporate governance statement and Appendix 4G for the year to 30 June 2021, lodged with the annual report. Administrative compliance document with no new business information.
29 Sept 2021annual report● Neutral
Annual report to 30 June 2021. The chairman reports SC 44 termination confirmed, the €34.35m French claim awaiting a hearing date, and talks on Australian projects. The $5.97m director shortfall substantially cut liabilities. Financial statements are not visible in the text.
28 Sept 2021regulatory community update▼ BadMajor
The DOE rejected the company's reconsideration request and reiterated termination of SC 44. The company calls this wrongful and is studying legal remedies. This confirms the loss of the Philippine permit unless a challenge succeeds.
5 July 2021capital raising announcement● NeutralMajor
The entitlement offer closed with eligible shareholders taking only 52.9m of 2,044.6m shares ($158,805). The directors' entities took up the 1,991.6m-share shortfall ($5.97m). Shares issue on 7 July 2021.
2 June 2021regulatory community update▼ BadMajor
The Philippine DOE has terminated Service Contract 44, rejecting the company's March 2020 force majeure claim, with no explanation given. The company will seek reconsideration. This is a major blow to its only drilling project in the Philippines, the Malolos field.
20 May 2021capital raising announcement● Neutral
Cover letter to eligible shareholders restating the 1-for-1 offer at $0.003 (about $6.13m, director-underwritten) and its timetable. No new information.
19 May 2021capital raising announcement● Neutral
Offer booklet for the fully underwritten 1-for-1 entitlement offer at $0.003 to raise about $6.13m, underwritten by directors Morton, Sam Yue and Munns. Opens 27 May, closes 1 July 2021. Repeats the 19 May launch terms.
19 May 2021capital raising announcement● Neutral
Letter telling shareholders with addresses outside Australia and New Zealand they cannot take part in the $0.003 entitlement offer. Their shares go to the directors' shortfall. Administrative.
19 May 2021capital raising announcement● NeutralMajor
The company relaunched a fully underwritten 1-for-1 entitlement offer at $0.003 to raise about $6.13m. Directors Morton, Sam Yue and Munns underwrite $1.81m, $2.07m and $2.25m, and proceeds repay their loans, cutting company liabilities. Closes 1 July 2021.
12 May 2021capital raising announcement● Neutral
The $0.0034 entitlement offer was withdrawn because ASX rules bar prices in fractions smaller than a tenth of a cent. It will be replaced with a 1-for-1 offer at $0.003, lowering the amount raised and the underwriting.
12 May 2021capital raising announcement● Neutral
Offer booklet for the 1-for-1 entitlement offer at $0.0034 to raise about $6.95m, partly underwritten by directors up to $5.5m. It was superseded when the offer was withdrawn the same day.
12 May 2021capital raising announcement● Neutral
Letter telling shareholders outside Australia and New Zealand they cannot take part in the $0.0034 entitlement offer. Their shares go to the directors' shortfall. Administrative, and overtaken by the withdrawal.
12 May 2021capital raising announcement● Neutral
The company launched a 1-for-1 entitlement offer at $0.0034 to raise about $6.95m, partly underwritten by the three directors up to $5.5m. Proceeds go to working capital, new ventures and repaying the directors' loans. Withdrawn the same day.
30 Apr 2021quarterly activities report▲ GoodMajor
March quarter: SC 44 stays suspended with no DOE response, and no hearing date is set for the France claim. The company raised $2.542m in placements, 399m shares at $0.0037 (26 Feb) and 266.5m at $0.004 (24 Mar), for new ventures and working capital.
