Past year: ▼ 50%(1.50c – 3.00c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
5 Feb 2025agm notice● Neutral
Slides for the 5 February 2025 General Meeting, showing proxy votes on seven resolutions, all with over 99.99% in favour. They cover ratifying earlier share issues, up to 3,333,334 shares to Gander and share rights to directors. Formal results were due separately.
29 Jan 2025quarterly activities report● Neutral
December 2024 quarter cash flow: receipts A$3.2m, operating cash flow +A$776k. Cash ended at A$2.871m. No facilities listed; noteholder debt ~US$15.67m, with US$0.5m repaid in January 2025.
29 Jan 2025quarterly activities report● Neutral
December 2024 quarter: ~46,400 barrels sold for ~US$1.76m at ~US$38/bbl, all domestic, no exports. Cash rose to A$2.871m from A$2.109m. Noteholder debt ~US$15.67m; US$0.5m repaid in January 2025. The placement was still open at quarter end.
3 Jan 2025agm notice● Neutral
Access letter for a General Meeting on 5 February 2025, held as a hybrid meeting. Notice of meeting is available online rather than posted. Administrative; the meeting relates to director participation in the placement, per earlier context.
23 Dec 2024regulatory community update▲ Good
Kazakh authorities gave written permission to issue new shares, valid to 19 December 2025. This was a required condition for closing the 11 December placement prospectus, whose timetable is unchanged.
11 Dec 2024capital raising announcement● NeutralMajor
Plans to raise A$3m at A$0.03 per share, up to A$4m with oversubscriptions, led by Vested Equities for a 6% commission. Funds go to a new Akkar East well expected to spud 1Q 2025, targeting ~640 to ~1,000 bbl/d. Resolves the funding question for the next well, if the raise completes.
11 Dec 2024capital raising announcement● Neutral
Placement prospectus lodged for 100m shares at A$0.03 to raise ~A$3m, with up to 33.3m more in oversubscriptions. It includes a A$500k shareholder offer and a A$100k director offer needing shareholder approval. Not underwritten; described as highly speculative.
What it means for a shareholder
100m new shares at A$0.030 to raise about A$3.0m. That's 5.4% dilution: every existing holder's slice gets 5.4% smaller. If you held A$1,000 of shares (33,333 at the issue price), your slice goes from 0.00192% to 0.00181% of the company. To keep it you'd need 1,918 more shares - about A$58 at the issue price.
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29 Nov 2024agm notice● Neutral
All four resolutions carried at the 29 November 2024 AGM, each with over 99.99% support. These included the remuneration report, re-election of Alexey Kruzhkov, a 7.1A placement mandate, and share issue to Investing News Network.
21 Nov 2024security holder rights change● Neutral
3,321,933 shares, issued in February 2024 to Keith Martens in lieu of 2023 director fees, leave voluntary escrow on 9 December 2024. Routine release.
15 Nov 2024material agreement▲ GoodMajor
Gas pipeline project completed and commissioned, with first associated gas sold to MangistauMunaiGas. This delivers the Stage 2 plan agreed in March for Akkar East and Akkar North (EB). West Zhetybai is to be connected during 2025.
29 Oct 2024quarterly activities report● Neutral
September 2024 quarter: ~49,600 barrels sold for ~US$1.96m at ~US$39.50/bbl, all domestic, no exports. Gas pipeline construction is complete, with commissioning expected in November. Noteholder debt ~US$15.67m; next well still unfunded.
29 Oct 2024quarterly activities report● Neutral
September 2024 quarter cash flow: receipts A$2.83m, operating cash flow -A$269k after A$557k prepayment repayment on gas generators. Cash fell to A$2.109m from A$3.245m, with A$732k of debt repaid. Debt ~US$15.67m; Waterford US$5m undrawn.
28 Oct 2024agm notice● Neutral
Access letter for the 2024 AGM, to be held 29 November 2024 as a hybrid meeting. Notice of meeting is available online rather than posted. Administrative.
27 Sept 2024annual report● Neutral
Corporate governance statement for the year to 30 June 2024, stating compliance with ASX principles. Board of five: one executive, four non-executive, two independent. Administrative.
27 Sept 2024annual report● Neutral
FY2024 profit A$1.85m (FY2023: A$44.19m, which included a A$52.73m debt gain). About 223,000 barrels produced, up 68%; revenue A$11.14m; cash A$3.22m. The accounts are prepared on a going-concern basis that depends on raising more cash.
2 Sept 2024regulatory community update▲ GoodMajor
West Zhetybai was granted a 25-year Full Commercial Licence from 1 September 2024, resolving the pending application. All three fields now hold full licences and its oil can be exported. Gas pipeline commissioning expected 4Q 2024; new well still under discussion.
20 Aug 2024security holder rights change● Neutral
833,333 shares issued to director Keith Martens as payment for his 1 January to 30 June 2024 fees. Shares on issue now 1,274,485,521. Administrative.
14 Aug 2024security holder rights change● Neutral
12,500,000 shares issued in August 2023 to Sleipnir Technologies LLP for services leave voluntary escrow on 16 August 2024. Routine release; no new shares are issued.
22 July 2024quarterly activities report● Neutral
June 2024 quarter: ~56,000 barrels sold for ~US$2.3m at ~US$41/bbl, all domestic, no exports. West Zhetybai licence upgrade application lodged, decision expected by end-August. Stage 2 gas construction due by late September. Next well still unfunded.
22 July 2024quarterly activities report▲ Good
June 2024 quarter cash flow: receipts A$3.277m, operating cash flow +A$1.39m. Cash rose to A$3.245m from A$2.0m. Noteholder debt is ~US$16.17m, due 2026; next US$500k repayment is expected by end-August 2024. The US$5m Waterford facility is undrawn.
5 July 2024admin correction● Neutral
Correction: the shares released from escrow numbered 269,118,108, not 269,118,106. Shares on issue stay at 1,273,652,188. Administrative.
17 June 2024contract award▲ Good
Tenders for gas pipes and construction of the Stage 2 gas link to MMG's infrastructure have been awarded. Work on the Akkar North (East Block) and Akkar East fields is expected to start the following week. A broker research report is also available.
11 June 2024security holder rights change● Neutral
Jupiter announced that 269,118,106 shares would leave voluntary escrow on 21 June 2024. They were issued on 21 December 2022 when Noteholders converted debt to equity, as approved at the 9 December 2022 AGM.
19 Apr 2024quarterly activities report● Neutral
March 2024 quarter: ~55,000 barrels sold for ~US$2.13m at ~US$38/bbl, all domestic, no exports. J-51 production is limited and a workover is likely. The Stage 2 gas plan is agreed, with pipeline building due in the second half of 2024. Next well still unfunded.
19 Apr 2024quarterly activities report▲ GoodMajor
March 2024 quarter cash flow: receipts A$3.21m, operating cash flow +A$1.757m. Cash rose to A$2.0m from A$1.264m. US$400k repaid on noteholder debt, and noteholders extended the repayment date from end-2024 to 31 December 2026, still interest free. Debt is ~US$16.17m.
19 Mar 2024material agreement▲ GoodMajor
Jupiter concluded contracts with neighbour MangistauMunaiGas to sell associated gas from its fields. It will build pipelines into MMG's infrastructure, first stage expected in the second half of 2024. This advances the Stage 2 gas plan.
15 Mar 2024half year report● Neutral
Half-year to 31 December 2023: profit A$142,750 versus A$45.16m a year earlier, which included the debt restructure gain. About 113,000 barrels produced, up from 41,200. J-53 and J-55 remain shut in awaiting funding.
13 Feb 2024security holder rights change● Neutral
Deemed issue price of A$0.03 set for 5,666,667 share rights issued to three directors in lieu of 2024 fees, a ~21% premium to the January VWAP. Shares on issue are now 1,273,652,188.
29 Jan 2024investor presentation▲ Good
Webinar slides: plan to drill 2 new wells and remediate 3 existing ones in 2024, lifting output from ~640 to ~1,500 bbl/d by end-2024, and set up a possible asset sale in 2025. Enterprise value A$54m, shares 1.27bn. Company targets, not results.
29 Jan 2024investor presentation● Neutral
Invitation to a 31 January 2024 investor webinar led by Geoff Gander on the reserves increase and plans to significantly raise 2024 production. Administrative notice attaching the presentation.
