Past year: ▲ 0%(0.40c – 0.40c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
7 Aug 2019listing compliance notice▼ Bad
Replying to an ASX query on its cash position (quarterly outflow $55,000, cash $211,000), the company expects continued negative cash flow. It says it is looking at projects in Morocco and South Sudan, none ready to announce, and believes it can raise further funds.
31 July 2019quarterly activities report● Neutral
June quarter: cash about $211,000 after the $204,134 placement, plus about $58,000 of Sundance shares. EP482 renewal is still pending. Five rehabilitation directions and two EP417 well sites remain outstanding, subject to funding.
9 May 2019capital raising announcement● NeutralMajor
Completed a $204,134 placement of 34.0m shares at 0.6c to sophisticated investors introduced by the board. Funds are for new opportunities, DMIRS obligations and working capital. Shares on issue rise to 822.1m, after cash had fallen to about $64,000.
What it means for a shareholder
34.0m new shares at A$0.006 to raise about A$204,134. That's 4.5% dilution: every existing holder's slice gets 4.5% smaller. If you held A$1,000 of shares (166,667 at the issue price), your slice goes from 0.0233% to 0.0222% of the company. To keep it you'd need 7,910 more shares - about A$47 at the issue price.
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30 Apr 2019quarterly activities report▼ Bad
March quarter: cash about $64,000, down from $119,000, and Sundance shares about $89,000. Five DMIRS rehabilitation directions cover four permits, plus two further well sites on EP417. The company acknowledges delays and says rehabilitation depends on funding.
25 Mar 2019director officer appointment● Neutral
Xiaoning Lin, Managing Director of Goldfields Oil and Gas, joins as a non-executive director, and Chee Ho Ho resigns. The new director will not be paid until the company implements its strategy.
15 Mar 2019half year report● Neutral
Half-year to 31 December 2018: cash $119,344, no debt, directors' fees still suspended. The company is reviewing diversification opportunities and working with DMIRS on work programs and rehabilitation. Financial statements are not in the text provided.
30 Jan 2019quarterly activities report▼ Bad
December quarter: cash about $119,000, down from $223,000, and Sundance shares about $77,000. EP482 renewal is still being assessed by DMIRS. The company is still gathering quotes for rehabilitation of historic wells, subject to funding.
22 Nov 2018agm notice● Neutral
All eight resolutions passed at the AGM, including re-election of the four directors appointed in December 2017 and the 10% placement capacity. The remuneration report drew 16.3m votes against and 356.8m abstentions.
26 Oct 2018quarterly activities report● Neutral
September quarter: cash about $223,000 and Sundance shares about $172,000. EP481 extended to 15 August 2020; EP482 renewal still undetermined. Rehabilitation directions for the historic wells received; work is subject to funding. Directors' fees remain suspended.
27 Sept 2018admin correction● Neutral
Corporate governance checklist lodged with the 2018 annual report, pointing to the governance statement on pages 15-20 and the company website. Administrative form with no new operational or financial information.
27 Sept 2018annual report● Neutral
2018 annual report: cash $383,515, no debt. EP481 extended to August 2020, EP482 renewal pending. Rehabilitation deadlines set; settled Precision litigation; $429,851 placement. Targets a major new project and a higher share price. Directors remain unpaid.
13 Sept 2018regulatory community update▲ GoodMajor
The regulator extended exploration permit EP481 to 15 August 2020, securing one of the two remaining permits. EP482's renewal is not mentioned in this announcement.
6 Sept 2018regulatory community update● NeutralMajor
Both permits stay valid while renewals are decided. The regulator has set rehabilitation deadlines for the historic wells of 15 August 2020 and 30 November 2019. This sets a firm timeline for the open rehabilitation thread.
30 July 2018quarterly activities report● Neutral
June quarter: cash about $384,000 after the $429,851 placement, plus about $162,000 of Sundance shares. Renewal applications for EP481/482 are lodged and pending. The DMIRS and biodiversity departments have commented on the rehabilitation proposal.
22 June 2018capital raising announcement▲ GoodMajor
Completed a $429,851 placement of 71.6m shares at 0.6c to sophisticated investors introduced by the board, taking shares on issue to 788.1m. Funds are for new opportunities, DMP obligations and working capital. It follows the December 2016 rights issue at 0.4c.
What it means for a shareholder
71.6m new shares at A$0.006 to raise about A$429,851. That's 9.1% dilution: every existing holder's slice gets 9.1% smaller. If you held A$1,000 of shares (166,667 at the issue price), your slice goes from 0.0233% to 0.0212% of the company. To keep it you'd need 16,657 more shares - about A$100 at the issue price.
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30 Apr 2018quarterly activities report▼ Bad
March quarter: cash about $176,000 and Sundance shares about $121,000. EP481/482 expire 15 August 2018 unless renewed, and exploration depends on funding and renewal. The rehabilitation proposal with the DMP is still to be settled.
14 Mar 2018half year report● Neutral
Half-year to 31 December 2017: cash $206,919, no debt, and no directors' fees paid. The company is engaging sophisticated investors for a placement to fund new opportunities, DMP obligations and working capital. Financial statements are not in the text provided.
31 Jan 2018quarterly activities report● Neutral
December quarter: cash about $207,000 and Sundance shares about $157,000. A rehabilitation proposal has been submitted, and the Precision litigation settled after quarter end. The new work program with the DMP remains unsettled.
16 Jan 2018other▲ GoodMajor
The 2013 Precision Catering litigation against subsidiary NSO, claimed at about $1.2m, has been settled and dismissed. Terms are confidential but stated to have no material impact. This resolves a legacy liability.
21 Dec 2017director officer appointment● NeutralMajor
Board overhaul: Kunfang Liu becomes chairman, with Ming Li, Chee Ho Ho and Peng Zhang as directors. Chairman Song, Han, Zhang and Bruce Li resigned. The new board will keep stabilising the company while seeking growth, and will go unpaid until its strategy is implemented.
30 Nov 2017agm notice● Neutral
AGM results: all three resolutions passed, including re-election of Ning Han and the 10% placement capacity. The remuneration report drew 2.9m votes against and 12.8m abstentions.
27 Nov 2017director officer appointment● NeutralMajor
Xiaofeng Liu, an existing director with 26 years' oil and gas experience, becomes Managing Director, replacing Bruce Li, who stays as non-executive director and company secretary. A technical background now leads the company.
31 Oct 2017quarterly activities report● Neutral
September quarter: cash down to about $314,000 and Sundance shares about $119,000. Environmental consultants delivered a rehabilitation proposal for historic wells, to be settled with the DMP. The new work program is still unsettled and the Precision case is unresolved.
27 Sept 2017other● Neutral
Corporate governance checklist (Appendix 4G) lodged with the 2017 annual report. It points to the governance statement and carries no new business information.
27 Sept 2017annual report● Neutral
2017 annual report: cash $460,000, no debt, EP481/482 retained at 100%. The chairman says the company needs more time, money and expertise. Rehabilitation of old wells and the Precision claim are the two issues to resolve. Directors took no pay.
19 Sept 2017other● Neutral
Administrative notice: 7.86m performance rights and 890,000 retention rights expired unexercised on 14 September 2017, clearing more legacy incentive securities. No cash raised.
7 Aug 2017other● Neutral
Administrative notice: 1,000,000 unlisted options (500,000 each at $0.167 and $0.187) expired unexercised on 5 August 2017. No cash raised.
31 July 2017quarterly activities report▼ Bad
June quarter: cash about $460,000 and Sundance shares about $132,000. Exploration on EP481/482 is now 'subject to funding'. Discloses a $1.2m Precision Catering claim against a subsidiary, which the company denies; May 2017 mediation failed to settle it.
24 Apr 2017quarterly activities report● Neutral
March quarter: cash fell to about $550,000 (from $973,000 at December), plus about $212,800 of Sundance shares. Talks with the DMP on a new EP481/482 work program and rehabilitation assessment continue; the search for new opportunities continues.
7 Apr 2017other● Neutral
Administrative notice: 150,000 unlisted options (75,000 each at $0.224 and $0.248) expired unexercised on 6 April 2017. No cash raised.
