Past year: ▲ 0%(0.10c – 0.10c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
29 Nov 2017investor presentation▼ BadMajor
AGM presentation says SC44 is in limbo, with the DOE decision awaited for over 12 months, and France is shutting down petroleum exploration. The forward program is to acquire new petroleum assets, likely overseas. This signals a shift in focus.
21 Sept 2017annual report● Neutral
2017 annual report: little exploration spend while tenure is uncertain. The DOE is considering the force majeure claim; St Griede appeal and penalties are undecided. Directors keep lending and have deferred their fees by 15.5 months. Financial statements not visible in the text.
21 Sept 2017admin correction● Neutral
Appendix 4G corporate governance key lodged with the annual report, stating the governance statement is current at 21 September 2017. Administrative only, no new business information.
31 Jan 2017quarterly activities report▼ BadMajor
The SC44 moratorium expired 27 January 2017. The DOE denied more time, so the company applied for force majeure; rejection would end SC44 tenure. France appealed the St Griede judgement on 3 January 2017, reopening the earlier court win.
29 Nov 2016other● Neutral
AGM chairman's address repeats known facts: the late Philippine approval leaves too little time before the 27 January 2017 moratorium end, and the Pau court win on St Griede (5-year renewal, €3,000/day penalty) is open to appeal. Directors' loans continue but cannot last long term.
29 Nov 2016investor presentation● Neutral
AGM presentation repeats known points: Malolos 2C contingent resource of 20.4 million barrels oil in place, Nuevo Malolos-1 deepening est. US$600,000 subject to DOE approval, and the St Griede court win. Management ownership is stated as ~38%. No new information.
7 Nov 2016regulatory community update▲ GoodMajor
The Pau tribunal annulled the Ministers' September 2015 refusal and ordered a 5-year St Griede extension from 3 November 2016 within 30 days, with a €3,000 daily penalty for delay. This resolves the challenge in the company's favour, though the parties have 2 months to appeal.
30 Sept 2016annual report▼ Bad
2016 annual report: Philippine approval to deepen Nuevo Malolos-1 came only in mid-September 2016, leaving little time before the moratorium ends 27 January 2017. Farmout remains unsecured, with equity issues the fallback. Directors' loans continue. Financial statements are not visible in the text.
31 Aug 2016admin correction● Neutral
The share registry has changed its name to NextRegistries. Address and contact details are listed in the notice. Administrative only.
22 Aug 2016regulatory community update▲ GoodMajor
The Conseil d'Etat refused to admit the Minister's appeal against the December 2015 suspension ruling, saying no argument was presented to justify admission. The suspension stands, which the company says strengthens its legal rights over St Griede; no renewal has yet been granted.
30 May 2016admin correction● Neutral
The share registry, RB Registries, has moved to Level 16, 1 Market Street, Sydney, effective 30 May 2016. Other contact details are unchanged. Administrative only.
10 Mar 2016half year report● Neutral
Interim report to 31 December 2015 repeats the operating story: year-one moratorium program completed, year two under way, and the St Griede suspension ruling and Minister's appeal awaiting Conseil d'Etat. Financial figures are not visible in the text.
28 Jan 2016regulatory community update▼ Bad
The Minister of Energy has appealed the 29 Dec 2015 suspension ruling to the Conseil d'Etat, which must decide whether to admit the appeal. This puts the company's first court win at risk and prolongs uncertainty over St Griede.
30 Dec 2015regulatory community update▲ GoodMajor
A French tribunal judge suspended the Ministers' refusal to renew St Griede on 29 Dec 2015, finding an error in law and no public-order risk from the permit itself. Ministers have 2 months to reconsider and 2 weeks to appeal. This is a first win in the challenge.
26 Nov 2015other● Neutral
Chairman's AGM address: the crest well would cost about US$1.25m and the Nuevo Malolos deepening about US$600,000. The low oil price has shrunk the pool of farminees, with equity issues the fallback. The St Griede challenge was lodged 10 Nov 2015, and directors' loans cannot continue long term.
26 Nov 2015investor presentation● Neutral
AGM presentation repeats known points: 20.4 MMbbl Malolos resource, moratorium to January 2017, and 2016 plans to deepen Nuevo Malolos-1 (about US$600,000) or drill Malolos-5 on the crest (about US$1.25m). Farmout is the preferred funding.
12 Nov 2015regulatory community update● Neutral
Following written notice of the Minister's refusal to renew St Griede, the company has lodged requests at a French tribunal to suspend and annul that decision. This begins a legal challenge to the refusal; no outcome is yet known.
12 Oct 2015regulatory community update▼ BadMajor
Directors were told verbally in Paris that France will not renew the St Griede licence, apparently over local political and public-order concerns. This ends hope of the renewal pending since 2013. The company is seeking advice; Tartas is recommended for grant.
21 Sept 2015admin correction● Neutral
A revised list of the 20 largest shareholders as at 7 September 2015 replaces the list in the annual report, which contained some errors. The figures are not visible in the text.
16 Sept 2015annual report● Neutral
2015 annual report: the chairman says falling oil prices made farminees cut budgets, and equity issues are a fallback if no farm-out. Directors' loans continued to fund operations. French seismic is on hold pending the St Griede renewal. Financial statements are not visible in the text.
16 Sept 2015other● Neutral
Appendix 4G and corporate governance key for the year to 30 June 2015, lodged with the annual report. Compliance paperwork with no operational or financial information.
10 July 2015admin correction● Neutral
The registry says its business name, effective 1 July 2015, is RB Registries (formerly Gould Ralph), replacing the name in the 3 July announcement. It has a new email address; other contact details are unchanged. Administrative only.
3 July 2015admin correction● Neutral
The company advises that its share registry changed its name to Russell Bedford NSW. Address and contact details are unchanged. Administrative only.
6 Mar 2015half year report● Neutral
Interim report to 31 December 2014 restates the moratorium, the two-year work program (US$100k then US$1m) and the 20.4 MMbbl resource, with farm-in funding sought. It notes Darren Reeder ceased as a director on 27 November 2014. Financials are not visible in the text.
16 Feb 2015investor presentation● Neutral
February 2015 presentation repeats known points: 20.4 MMbbl Malolos resource, 200 bopd short-term bursts, the moratorium to January 2017, a farm-out effort and 100% French licences. No new results are shown in the visible text.
14 Jan 2015regulatory community update● Neutral
Work program for the moratorium: US$100,000 in year 1 and US$1 million in year 2, including deepening Nuevo Malolos-1. Farm-out presentations began before Christmas. The company says the 20.4 MMbbl resource stays attractive despite the oil price drop.
12 Dec 2014regulatory community update▲ GoodMajor
The DOE approved the two-year technical moratorium on SC 44, running 28 January 2015 to 28 January 2017. This resolves the application and gives security of tenure to prove commerciality and win a 25-year production term. It may also help the farm-out search.
27 Nov 2014investor presentation● Neutral
AGM presentation restates known facts: the 20.4 MMbbl (2C) Malolos resource, the 200 bopd bursts limited by fines, the moratorium application, a 2015 plan to deepen Nuevo Malolos-1, farm-out efforts and the French licences. No new results are shown in the visible text.
30 Sept 2014annual report● Neutral
2014 annual report. The chairman says the flow at Malolos-1 was blocked by sand, so a 2-year moratorium to January 2017 has been applied for. Farm-out is preferred funding. French seismic is planned for the first half of 2015. Financial statements are not visible in the text.
18 Sept 2014admin correction● Neutral
Notice that the share registry has moved to Gould Ralph Pty Limited, Level 29, Suncorp Place, 259 George Street, Sydney. No other information.
