Past year: ▲ 0%(0.10c – 0.10c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
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.
30 July 2015quarterly activities report● Neutral
June quarter report: mapping places the Malolos anticline crest about 2.5-3 km south-southwest of Malolos-1, a possibly better test site. Farm-out terms are now pitched to the lower oil price. St Griede renewal awaits the French Minister's signature.
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.
30 Apr 2015quarterly activities report● Neutral
March quarter report: studies point to standard industry screens, rather than perforated casing, for new wells to hold back sand. Farm-out presentations continued, focused on South-East Asian companies, with no deal. French seismic awaits licence renewal confirmation.
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.
29 Jan 2015quarterly activities report● Neutral
December quarter report: the DOE approved the SC 44 moratorium to 27 January 2017. Year 1 (US$100k) is research; year 2 (US$1m) deepens Nuevo Malolos-1. Farm-out presentations began in December; the 20.4 MMbbl resource is promoted despite the oil price fall.
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 Oct 2014quarterly activities report● Neutral
September quarter report: a 2-year moratorium from 28 January 2015 is applied for, with DOE approval expected in the December quarter. Plans include deepening Nuevo Malolos and seismic. French seismic is approved for the June quarter 2015. Farm-out talks continue with no deal.
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.
4 Sept 2014other● Neutral
Quarterly tenement list: SC 44 at 100% with extension to 28 January 2015, and St Griede at 100% under renewal application. No tenements acquired or disposed of in the June quarter.
31 July 2014quarterly activities report▼ BadMajor
June quarter report: the Malolos-1 test sustained 33 bopd and briefly about 200 bopd, with perforations repeatedly blocked by fines. Sufficient data gathered for a DOE application lodged in July. The rights issue was withdrawn on 12 June due to low acceptances, with the share price below the 3 cent issue price.
29 July 2014joint venture update● Neutral
Malolos-1 is shut in overnight, building 100-220 psi, then gas is flared daily, with some oil produced under natural pressure. The company has met the DOE and applied for more time under SC 44. It will seek a farminee to fund appraisal.
8 July 2014well test result● NeutralMajor
Both Malolos sandstones were tested separately and are oil-bearing. The lower one made over 100 bopd with more water, and fines limit rates. Malolos-1 is suspended while the company applies to the DOE for more time. Seismic is planned and a farminee is sought.
17 June 2014well test result● Neutral
After high-pressure water jetting, Malolos-1 sustained 33 barrels of oil per day. The company says the well has previously made about 200 bopd only briefly. If rates decline it may do more remedial work or suspend testing.
4 June 2014well test result● Neutral
After the acid wash, sand and clay again partly plugged the Malolos-1 perforations, cutting the influx rate. The company says the short burst indicates about 200 bopd is possible if unblocked, in line with the 2013 testing. Testing continues.
30 May 2014well test result● Neutral
An acid wash to clear the clogged Malolos-1 perforations improved fluid influx, with 8 barrels in one hour, and oil was recovered. Flow has not stabilised, and further remediation may be needed for continuous production.
19 May 2014well test result● Neutral
Swabbing at Malolos-1 reached almost 100% oil, confirming the tested sandstones are oil reservoirs. But clay fines have clogged the perforations, and remedial work is under way before testing resumes. This is a setback to the production test.
14 May 2014capital raising announcement● Neutral
Rights issue closing date extended again, from 23 May to 13 June 2014, with issue now 20 June. Terms are unchanged: 1-for-4 at 3 cents, about $5.1m. This is the second extension and the text gives no reason.
13 May 2014drilling progress report▲ Good
Swabbing at Malolos-1 continues with the oil percentage rising. Gas is breaking out of the oil, with 95 psi wellhead pressure and a 35-minute flare. An initial oil rate is still several days away.
12 May 2014well test result▲ Good
Swabbing began over the weekend at Malolos-1 and oil has reached surface, though much of the fluid is still drill water. An initial oil rate is still several days away. This is the first oil from the extended test of the 20.4 MMbbl (2C) field.
9 May 2014drilling progress report● Neutral
Packer and completion assembly are set above the upper oil sandstone at Malolos-1. The swabbing unit is being set up, and oil production testing will likely start over the weekend. No test results yet.
5 May 2014drilling progress report● Neutral
Rig-2 has begun Malolos-1 operations and cleaned out the two cement plugs. Next the packer and completion assembly will be run, then swabbing and oil production testing. The 'before end of April' test start has slipped into May.
24 Apr 2014capital raising announcement● Neutral
Rights issue closing date extended from 5 May to 23 May 2014, with issue of shares and options now expected 30 May. Terms unchanged: 3 cents per share, about $5.1m. The text gives no reason for the delay.
23 Apr 2014drilling progress report● Neutral
Rig-2 was set to start Malolos-1 operations on 24 April, and the swabbing unit, acquired under a lease/purchase agreement, was already on site. Initial oil testing was still scheduled to begin before the end of April.
