Past year: ▲ 75%(4.40c – 10.5c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
6 July 2021asset acquisition disposition● NeutralMajor
HPR agreed to pay $300,000 for a 1% royalty on ScimTek Hydrogen sales, capped at $30m over 10 years, plus a first right of refusal on future project funding. A move beyond oil, gas and minerals into green hydrogen.
18 June 2021director officer appointment● Neutral
Joint company secretary Philip Leighfield resigned. Jarrod White, already CFO, continues as company secretary. Administrative change.
30 Apr 2021quarterly activities report● NeutralMajor
March 2021 quarter: revenue $93,085 (up 18%), cash $827,570. Macquarie facility extended three years to 7 December 2024, with US$250k yearly payments and a US$750k final payment. Peat payment from Origin was not received and HPR is seeking clarification.
23 Apr 2021asset acquisition disposition▲ GoodMajor
HPR bought 1.5% gold and 1.5% net smelter royalties over the Admiral Bay zinc leases in Western Australia from Orion Resource Partners for $100,000. First move into minerals; the operator can buy back for $40m adjusted for CPI. Completion expected within 30 days.
16 Mar 2021half year report▼ Bad
Half-year to 31 December 2020: royalty income fell to $183,824 (prior $293,930) and net loss widened to $304,880 (prior $42,610). Cash was $1,026,254 versus $1,843,070 at June 2020. Cites the US exchange rate and no Queensland royalties.
29 Jan 2021quarterly activities report● Neutral
December 2020 quarter revenue was $78,806 and cash was $1,026,000. No Queensland royalties were received because of an adjustment to FY20 royalties. HPR acquired more US royalties, the first cheques had already arrived, and it was seeking further royalties.
29 Oct 2020quarterly activities report● Neutral
September 2020 quarter: royalty receipts $108k, with US revenue $82,014 (June qtr $113,984) and Queensland $25,549 (June qtr $77,239). HPR spent $274k acquiring royalties, consistent with the Texas deal. Central Petroleum plans another Dukas well.
30 Sept 2020annual report● Neutral
FY2020 annual report. Chairman says the stronger closing cash balance will fund further royalty acquisitions, and notes the recent Texas royalty package. Flags a planned follow-up well to Dukas targeting helium and hydrocarbons, and possible Peat production increase from Origin.
30 Sept 2020other● Neutral
Appendix 4G corporate governance checklist lodged with the FY2020 annual report, pointing to pages 47-50. Administrative only.
21 Aug 2020asset acquisition disposition▲ GoodMajor
HPR paid a US$175,000 (about A$250,000) deposit to buy overriding royalties on three leases, over 300 acres, in Jackson County, Texas from TXO Production. First deal from its refreshed acquisition strategy, using the Royalco sale cash.
30 July 2020investor presentation● Neutral
July 2020 Amadeus Basin presentation: says Dukas-1 hit hydrocarbon indications but excess pressure stopped drilling into the target, with a new well planned for 2022. Also notes Mamlambo prospect (P50 24 mmbbl) in PL6. Mostly third-party material; no new HPR result.
30 Apr 2020quarterly activities report● Neutral
March 2020 quarter: royalty receipts $209,427, boosted by delayed Planet Gas payments from December. The $1,312,908 Royalco sale proceeds were received. Lower oil prices are expected to hurt royalties short term but are creating acquisition opportunities HPR is reviewing.
13 Mar 2020half year report● Neutral
Half-year to 31 December 2019: royalty income $293,930 (prior $294,007), net loss $42,610 (prior $177,123). Cash was $516,269 at balance date, down from $1,045,908 at June 2019. No significant events reported.
31 Jan 2020quarterly activities report● Neutral
December 2019 quarter: royalty receipts $121,497, down on delayed Planet Gas payments from a new Kansas operator. HPR repaid a further US$250k, leaving US$1.75m owing. The $1.31m Royalco sale proceeds are received; Dukas drilling was suspended due to high pressures.
19 Dec 2019asset acquisition disposition▲ GoodMajor
HPR accepted Fitzroy River's offer to buy its Royalco shares at 24 cents, for $1,312,908 cash, about $240k above cost. This converts the 10.68% Royalco stake into cash that may fund royalty acquisitions.
29 Nov 2019investor presentation● Neutral
AGM presentation restates the royalty strategy and known portfolio. Shows 189m shares, cash $1.1m, Royalco stake $1.3m and market cap $18.9m at $0.10. Says Dukas was 'suspended, positive indicators' and Central Petroleum plans 2020 drilling nearby. No new results.
31 Oct 2019quarterly activities report● Neutral
September 2019 quarter: royalty receipts $159,148, with a net cash outflow after one-off ASX and geothermal permit renewal fees. US royalties brought in about $130k against about $59k of Planet Gas financing costs. Peat royalties about $29k; Dukas-1 still being monitored.
30 Sept 2019annual report▲ Good
FY2019 annual report. Chairman says Planet Gas, a $3.7m acquisition, lifted royalty revenue above running costs. Dukas interim results were encouraging, and Longtom production is expected to resume. Burunga South 2 flow rates are still awaited.
30 Sept 2019other● Neutral
Appendix 4G corporate governance checklist lodged with the FY2019 annual report, pointing to pages 50-53. Administrative only.
31 July 2019quarterly activities report▲ Good
June 2019 quarter: royalty receipts $226,309 and net cash flow positive at $33,055. Peat royalties rose to about $68,800 from $30,000. Santos' Dukas-1 is close to target depth; Origin preparing to test Burunga South 2.
30 Apr 2019quarterly activities report▲ Good
March 2019 quarter: royalty receipts $163,796, up on December, helped by Planet Gas. A US$375k Macquarie principal payment was made in January. Santos spudded Dukas-1 on 16 April, in HPR's 1% royalty area; Origin still to flow test Burunga South 2.
15 Mar 2019half year report▲ Good
Half-year to 31 December 2018: royalty income rose to $294,007 (from $105,829) on the Planet Gas acquisition. Net loss $177,123 (prior $233,900). Cash $1,654,984, up from $1,178,186 at June 2018.
13 Mar 2019admin correction● Neutral
HPR re-lodged its 11 March presentation with a broker-report share price target removed, as it was included inadvertently. Investors are told not to rely on it. Administrative only.
11 Mar 2019investor presentation● Neutral
March 2019 presentation repeats the completed Planet Gas deal and known portfolio. Shows 189m shares, cash $1.1m, and Dukas drilling expected in April. Cites a broker valuation of 6.5 cents per share (DCF), later retracted. Nothing new.
31 Jan 2019quarterly activities report▲ Good
December 2018 quarter: royalty receipts rose to $137,782, driven by the newly acquired Planet Gas royalties. Cash ended at $1.6m. Macquarie debt fell to US$2m in January 2019. Origin's Burunga South 2 well was cased and suspended; Santos' Dukas well due within months.
7 Dec 2018asset acquisition disposition▲ GoodMajor
HPR completed buying Planet Gas USA for $1 on 7 December 2018, gaining 3% royalties on about 2,400 US wells (over US$30k a month) and assuming the US$15m Macquarie facility, drawn US$2.375m after a US$375k paydown. Resolves the pending October deal.
7 Dec 2018asset acquisition disposition▲ Good
Planet Gas Ltd shareholders approved the sale of Planet Gas USA to HPR on 6 December 2018, with completion imminent. Directors also finished their share subscription, completing the full $1.25m placement flagged on 17 October and funding HPR into 2019.
29 Nov 2018agm notice● Neutral
All 2018 AGM resolutions passed on a show of hands, including the remuneration report, Geoffrey King's re-election, and share issues to directors Carroll, Wooles and King in the placement. Administrative result only.
20 Nov 2018investor presentation▲ Good
November 2018 presentation: Planet Gas completion is due December 2018. Origin's Burunga South 2 reached 3,608 m and confirmed hydrocarbons, now cased and suspended for further testing. Shares 186m, cash over $2.3m.
29 Oct 2018quarterly activities report● Neutral
September 2018 quarter: reports the pending Planet Gas USA acquisition and the $1.25m placement at $0.05, with $1.105m received. Origin's deep Burunga South 2 well is still drilling. Largely repeats the earlier announcements.
