Past year: ▲ 0%(0.10c – 0.10c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
25 Aug 2023annual report● Neutral
FY2023 annual report. Chairman says the new Philippine Service Contract application may take 3 to 4 months to decide. The company has asked ASX to extend the 1 September Listing Rule 12.1 deadline to 31 December 2023. The French decision is awaited. Mostly repeats known matters.
31 July 2023regulatory community update● Neutral
Addendum to the June quarter report: no substantive exploration beyond maintaining well sites and rigs and preparing the new Service Contract application. The company held no petroleum tenements at quarter end. Director-related lenders provide facilities at nil interest.
28 July 2023quarterly activities report● Neutral
June quarter: the new Service Contract application over the former SC 44 area was submitted to the Philippine DOE in July 2023, and the ICC action stays suspended. The 28 June French hearing is done, with a decision awaited. Australian searches remain suspended.
3 July 2023regulatory community update● Neutral
The 28 June 2023 hearing on the €34.35m claim went ahead; no Government representative attended and the company lodged a further written submission on 30 June. The decision has no set timeframe and is uncertain.
8 June 2023regulatory community update▲ Good
The Pau Tribunal has set 28 June 2023 for the hearing of the €34.35m (about A$55m) claim against the French Government. This is a new date after the 29 June 2022 hearing was postponed. The company cites legal advice of a good chance of success; the outcome is uncertain.
28 Apr 2023quarterly activities report▲ GoodMajor
March quarter: company says negotiations with the Philippine DOE concluded satisfactorily and it is finalising documents for a new Service Contract. The ICC action is suspended. It has paused eastern Australia searches, citing the $12/GJ gas price cap. French hearing date still not advised.
16 Mar 2023half year report● Neutral
Interim report to 31 December 2022. It says the company will now apply for a new Service Contract for Malolos (7-year initial term if granted), and the Santos farm-in ended in September 2022. It also discusses the ASX Listing Rule 12.1 matter. Financials not visible in the text.
9 Mar 2023listing compliance notice▼ BadMajor
ASX has ruled that Gas2Grid's level of operations does not satisfy Listing Rule 12.1. The company has until 1 September 2023 to show compliance, or ASX intends to suspend its shares from quotation. The company points to a possible restart in SC 44.
30 Jan 2023quarterly activities report● Neutral
December quarter: the ICC application was finalised but not lodged, and the company is in talks with the new Philippine administration to keep evaluating Malolos, hoping for field work in 2023. In December it asked the French tribunal for a hearing date; no reply yet.
25 Nov 2022investor presentation● Neutral
AGM presentation repeating known positions: awaiting a French hearing on the €34.35m claim, new talks with the Philippine government on Malolos appraisal, and Australian farm-in reviews. Restates Malolos contingent oil in place of 2C 20.4 MMbbls.
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.
28 Oct 2022quarterly activities report● Neutral
September quarter: Santos Cooper Basin farm-in confirmed terminated; company says it has identified alternative Cooper Basin areas. ICC documents for SC 44 are finalised, but it is making a last attempt at amicable settlement first. French hearing date still awaited. Related party payments $90,000.
6 Oct 2022agm notice● Neutral
AGM planned for 25 November 2022; director nominations close 13 October 2022. Administrative notice only.
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.
29 July 2022quarterly activities report● Neutral
June quarter: Santos farm-in narrowed to ATP 1063 only, pending a two-year work program extension to Sept 2024. ICC filing still being finalised; French hearing postponed. No exploration spend; related party payments $78,000.
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.
28 Apr 2022quarterly activities report● Neutral
March quarter: describes the Santos Cooper Basin term sheet (60% of ATP 1063 and 1174) signed 6 April and confirms the Armour farm-in was not pursued. SC 44 ICC arbitration still being prepared; French hearing date still awaited.
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.
31 Jan 2022quarterly activities report● Neutral
December quarter: the company is preparing an ICC arbitration submission over the SC 44 termination after the DOE did not respond to its offer to settle. French final submissions were lodged 26 Nov 2021; a hearing date awaited. It says Armour binding agreements are nearly finalised.
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.
