Past year: ▼ 50%(0.10c – 0.30c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
13 Sept 2021capital raising announcement▲ Good
GGE completed the first tranche of its placement: 95m shares at 1 cent, raising A$950,000 before costs, within existing placement capacity. Part of the A$3.3m raise funding the Kessel helium acquisition.
2 Sept 2021business combination▲ GoodMajor
GGE signed a binding deal to buy 100% of Kessel Resources, which holds an interest in the Red Helium Project in Utah, with a A$3.3m raise to fund it. A major strategy shift from oil to helium; Keith Martens to become CEO.
2 Sept 2021investor presentation● Neutral
Presentation on the Kessel deal: 450m shares and 100m performance shares to vendors, with a A$3.3m raise at 1 cent and 60m options at 2.5c. Total shares would reach about 1,183m. Repeats the acquisition announcement.
2 Sept 2021other● Neutral
ASX lifted the suspension of GGE securities from the start of trading on 2 September 2021, after the acquisition and capital raising announcement was released.
1 Sept 2021other● Neutral
At GGE's request, ASX suspended trading from 1 September 2021 pending an announcement on an acquisition and a capital raising. It follows a trading halt granted on 30 August.
17 June 2021other● Neutral
Replacement director's interest notice for Mark Freeman: his family trust bought 3,832,744 shares on market for $38,446, lifting holding to 5,000,000 shares. Small director purchase; no other new information.
15 Mar 2021half year report● Neutral
Half-year to 31 December 2020: Desiree 74 bopd, D&L #3 now 61.8% WI. Reserves table shows 2P 183 MBOE. Noble's DJ plan covers about 72 permits where GGE expects about 3.3% WI; management is still seeking to farm out or sell. Financials truncated.
30 Nov 2020other● Neutral
All three resolutions at the 30 November 2020 AGM passed on a poll: remuneration report, re-election of Chris Bath and a 10% placement capacity. Routine meeting outcome.
30 Sept 2020admin correction● Neutral
Appendix 4G for the year to 30 June 2020, stating the corporate governance statement is on GGE's website. Administrative filing with no new information.
28 Sept 2020annual report● Neutral
FY2020 annual report: no debt, with gross revenue over A$1.6m after royalties, and the tenth straight year with no equity or debt funding needed. 2P reserves are 182k bbl (Desiree 116k, D&L 66k). Financial statements are not shown in the text.
17 Sept 2020price query● Neutral
Responding to ASX after the price rose from 0.5c to 1.2c, GGE said it knew of no unannounced information explaining the move. It added it had been in incomplete discussions on a possible fundraising, which have now ceased.
16 Sept 2020other● Neutral
ASX paused trading in GGE securities pending a further announcement. No reason is given in the notice; it follows a price query the same day.
13 Mar 2020half year report● Neutral
Half-year to 31 December 2019: Desiree averaged 120 bopd and D&L #3 80 bopd. The reserves table shows 2P liquids of 145k bbl at Desiree and 26k at D&L. Noble's DJ plan covers about 72 relevant permits, where GGE expects about 3.3% WI, and management is seeking to farm out or sell.
6 Jan 2020other● Neutral
GGE released its Board-approved Whistleblower Policy. Governance document with no operational or financial news.
10 Dec 2019security holder rights change● Neutral
The 2-for-1 consolidation is complete. GGE now has 383,749,478 shares and 32.5m unlisted options. Resolves the November consolidation notice.
27 Nov 2019security holder rights change● Neutral
GGE will consolidate its shares 2 into 1, taking about 767.5m shares to about 383.7m, effective 2 December 2019. The 65m unlisted options become 32.5m at 1.25c. Follows the AGM approval.
27 Nov 2019other● Neutral
All six resolutions at the 27 November 2019 AGM were carried, including the remuneration report, re-election of Burton and Bath, a share consolidation, a 10% placement capacity and a constitution amendment. Approves the consolidation announced separately.
27 Sept 2019admin correction● Neutral
Appendix 4G confirming the corporate governance statement for the year to 30 June 2019 is on GGE's website. Administrative filing with no new information.
25 Sept 2019annual report● Neutral
FY2019 annual report: Desiree produced over 71,000 bbl and D&L #3 over 25,600 bbl; net production cash flow A$1.7m. Company reports no debt and 2P reserves of 212,000 bbl (Desiree 142,000, D&L 70,000). Noble filed a drilling plan covering much of the DJ acreage; no well proposals yet.
28 May 2019capital raising announcement▲ GoodMajor
GGE dispatched the Whitebark distribution: 383,749,392 WBE shares, worth 0.25c per GGE share at the 0.5c subscription price. 8.86m go to be sold for ineligible foreign holders; GGE keeps 6.25m. Options at 0.8c now exercise at 0.55c. Completes the return of value begun in March.
15 May 2019listing compliance notice● Neutral
ASX lifted the suspension of GGE securities from the start of trading on 15 May 2019, after GGE released its WBE subscription and timetable announcement. Administrative notice only.
15 May 2019capital raising announcement● NeutralMajor
GGE completed its A$1.95m subscription for 390m Whitebark shares at 0.5c. Distribution to GGE holders (1 per 2 GGE shares, about 383.75m shares) slipped from 22 to 28 May 2019 because of fund transfer delays; record date unchanged. Resolves the suspension.
14 May 2019listing compliance notice● Neutral
ASX paused trading in GGE securities pending a further announcement. No reason is given in this notice.
14 May 2019listing compliance notice▼ BadMajor
GGE's securities were suspended at its own request pending an announcement on the WBE share subscription and a revised timetable for the in-specie distribution, which shareholders approved on 10 May 2019. Suspension runs until the announcement or 16 May. Suggests the timetable has changed (inference).
10 Apr 2019security holder rights change● Neutral
Short form prospectus for offering up to 390m Whitebark shares to GGE shareholders through the in-specie capital reduction, tied to the 8 April 2019 notice of meeting. Described by directors as speculative. Procedural document for the previously announced distribution.
22 Mar 2019capital raising announcement▲ GoodMajor
GGE will subscribe A$1.95m for 390m Whitebark Energy shares at 0.5c, then give 383.75m to its shareholders in-specie, one WBE share per two GGE shares (0.25c per GGE share). Needs shareholder approvals. Signals a return of value while seeking a bigger project.
22 Mar 2019material agreement● Neutral
Whitebark's own release on the same deal: the A$1.95m placement at 0.5c from GGE funds its Wizard Lake drilling. Rex-1 is expected back on production in April 2019, with Rex-2 and Rex-3 targeted from mid-2019. Counterparty view of the WBE subscription already announced.
13 Mar 2019half year report● Neutral
Half-year to 31 December 2018 report. The DJ Basin deal settled, with GGE's minimum commitment of two wells put at about US$240,000; first wells expected within 6 months of DSU approval. Text is truncated, so financial results are not stated here.
5 Mar 2019director officer appointment● NeutralMajor
Craig Burton (chairman) and Chris Bath join the board. Chairman Charles Morgan, Stephen Keenihan and Allan Boss step down. Burton's entities hold about 186m GGE shares, per the director interest notice. A major board change; Mark Freeman stays as managing director.
30 Jan 2019investor presentation▲ Good
Update on the Eagle Ford acreage, now 1,232 gross acres (1,117 net, per the text). Nearby Wildhorse wells flowed up to 840 bopd. About US$660,000 spent on leasing; GGE still seeks a third party to fund and operate drilling and would reduce its interest. Repeats known strategy, no new deal.
