Each one in plain English, with the numbers worked through for a shareholder.
28 Jan 2020investor presentation● Neutral
Corporate update: Siciny-2 pressure build-up test runs to February, with analysis to set next steps. Company turns attention to conventional Rotliegendes gas at Gora (210 Bcf prospective) and a new-ventures strategy; Jany-C1 stays Q2 2020, with a Nowa Sol production licence expected by end Q1.
20 Jan 2020well test result▼ BadMajor
Siciny-2 showed methane at surface, but formation water inflow stopped free gas flowing, so the planned flow tests were dropped for a long-term pressure build-up test ending in February. No gas rate was reported, so commerciality of the 1.6 Tcf resource remains unproven; the company says the work was on time and on budget.
7 Jan 2020drilling progress report● Neutral
Siciny-2 is still flowing fluid rather than gas: 373 m3 of the 850 m3 of frac fluid has come back, and nitrogen is being used to help. Flow tests slip from December into January-February 2020.
17 Dec 2019drilling progress report▲ Good
Frac fluid flowed back through casing with very little proppant returned, which the company says shows proppant stayed in the fracture. Production tubing is to be run after a 24-26 December shutdown, so the well test slips toward year-end or later.
11 Dec 2019drilling progress report▲ Good
The Siciny-2 hydraulic frac was pumped across the perforations at 3,413 m and 3,272 m with stable rate and pressure. Frac fluid is flowing back; the flow test is now due in late December, after workover rig work.
10 Dec 2019drilling progress report● Neutral
A small test injection ('mini-frac') at Siciny-2 was completed on 9 December, ahead of the two-stage frac scheduled for 10 December. Flow test is still planned for December, with a pressure build-up test moved to January-February 2020.
6 Dec 2019drilling progress report▲ Good
Siciny-2 was cleaned up and perforated, and casing and cement logs passed, so the frac can go ahead through casing. Wellhead pressure rose from 5 to 28 bar. Frac fleet is mobilising for the planned December frac and test of the 1.6 Tcf resource.
6 Dec 2019admin correction▼ BadMajor
Company retracts the 5 December economic evaluation (US$1,649m NPV, 62.6% IRR, US$242m risked) after the ASX said no reasonable basis was disclosed. Investors should disregard it. The Siciny-2 frac and test still proceed in December.
6 Dec 2019admin correction● Neutral
Final director interest notices for departed directors Sanders and Lane. 12,000,000 unlisted options at $0.065 expired unexercised on 30 November 2019. Fully paid shares on issue are 485,349,635; no new information on the operations.
5 Dec 2019resource reserve update● Neutral
Xodus development plan, audited by NSAI, for the 1.6 Tcf Siciny-2 resource gave an unrisked pre-tax NPV10 of US$1,649m (US$577m net to Ansila) and US$242m risked. Ansila's share of capital would be US$52m. Retracted the next day.
2 Dec 2019investor presentation● Neutral
December 2019 presentation repeats the Polish earn-in, 1.6 Tcf and 36 MMbbl contingent resources and 210 Bcf prospective. It adds management chance-of-success estimates (42% Siciny-2, 28% Jany-C1) and says a new ventures pipeline is under review. Frac results are still expected by year-end.
29 Nov 2019director officer appointment● Neutral
AGM resolutions all passed. Non-executive directors David Sanders and Bruce Lane resigned, described as streamlining the board after the Matharu and Lewis appointments. Company secretary John Kay is replaced by Ben Secrett from 2 December.
26 Nov 2019other● Neutral
Company took brokers and investors from seven firms to the Siciny-2 and Jany-C1 wellsites in Poland on 25 November. It states no new material information about upcoming operations was disclosed.
25 Nov 2019contract award▲ Good
Gemini hired Ekranpol for a workover rig at Siciny-2 and a coiled tubing unit reached site on 25 November, with well clean-out due 27 November. The frac and flow test of the 1.6 Tcf resource stay planned for December.
13 Nov 2019regulatory community update▲ Good
Polish Ministry of Mines approved the Plan Ruchu, the state operating approval for the Siciny-2 re-entry, frac and flow test. Site preparation is finished; mobilisation is due late November and the frac and test in December 2019.
7 Nov 2019admin correction● Neutral
Re-release of the 7 November contract award announcement with added qualified person and resource-estimate disclaimer wording. No change to the contracts or the December frac and test schedule.
7 Nov 2019contract award▲ Good
Operator Gemini (65%) has awarded Halliburton the frac equipment and pumping work and Weatherford the well testing for Siciny-2. Frac and test remain on a December 2019 timetable, so the Siciny-2 programme is progressing as planned.
31 Oct 2019investor presentation● Neutral
Notice that Ansila will give an investor update at the Oil Capital Conference in London on 31 October 2019. Restates the Polish earn-in for 35% at A$6.15m; no new information.
31 Oct 2019investor presentation● Neutral
October 2019 conference presentation repeats known figures: 35% Polish earn-in for A$6.15m, 1.6 Tcf and 36 MMbbl contingent resources, 210 Bcf prospective, A$3.7m raised. Frac and flow test results still expected by year-end 2019. Nothing new.
30 Oct 2019quarterly activities report● Neutral
September quarter: Gemini earn-in completed for 35% of the Polish projects, company renamed Ansila, new directors appointed. Gabon force majeure and Ambilobe extension talks with OMNIS are unchanged; Siciny-2 frac and flow test targeted for Nov/Dec 2019.
17 Oct 2019drilling scheduled▲ Good
Operating committee approves the budget for the Siciny-2 re-entry and frac after independent review. Site preparation runs in October, the two-stage frac in November and the well test from December 2019. Reviewers say work should fit the budget barring problems.
16 Oct 2019other● Neutral
Company name changes from Pura Vida Energy NL to Ansila Energy NL, trading under new ASX code ANA, with a new website. Name change only.
14 Oct 2019capital raising announcement▲ GoodMajor
Pura Vida Energy completed its entitlement issue, raising a total of $2,732,098 before costs. Holding statements were to be mailed to eligible shareholders that week.
9 Oct 2019capital raising announcement● Neutral
Entitlement offer closed 4 October: applications covered 88.8m of 151.8m shares (A$1.60m). The remaining 63.0m shares (A$1.13m) are the shortfall, to be placed with the underwriter CPS, with issue expected 11 October.
3 Oct 2019other● Neutral
Company hires Xodus to produce a conceptual development plan and pre-tax valuation for the 1.6 Tcf Siciny-2 contingent resource, due by end-November 2019. Siciny-2 site work is due to start in October, with results by year-end.
25 Sept 2019annual report● Neutral
2019 annual report for the year to 30 June. The chairman describes the Polish 35% earn-in as repositioning the company, and says Ambilobe farm-out talks continue. Gabon force majeure is unchanged. Financial statements not visible in the excerpt.
25 Sept 2019other● Neutral
Appendix 4G corporate governance checklist lodged with the annual report. Administrative filing with no new information.
24 Sept 2019farm in farm out completion▲ GoodMajor
Completes the Gemini deal, so the company now earns 35% of the Gora and Nowa Sol projects in Poland by spending A$6.15m. Dr Andrew Matharu and Christopher Lewis join the board. Siciny-2 testing is due Nov/Dec 2019; Jany-C1 in Q2 2020.
24 Sept 2019capital raising announcement● Neutral
Entitlement offer closing date extended from 30 September to 4 October 2019, with share issue moved to 11 October. Timetable change only.
23 Sept 2019investor presentation● Neutral
Presentation on the Polish projects repeats known figures: 1.6 Tcf gas and 36 MMbbl oil contingent resources, 210 Bcf prospective, A$6.15m earn-in for 35%. Siciny-2 work to start October, with results in Q4 2019. Nothing new.
