Past year: ▲ 0%(0.40c – 0.40c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
14 Mar 2013half year report● Neutral
Half-year report to 31 December 2012 covers the period's operations, mainly Nicolay #1 drilled to 3,564m and the start of Gibb Maitland #1. It repeats previously reported results. Financial figures are not visible in the available text.
11 Mar 2013investor presentation● Neutral
Managing director interview recaps the rig contract termination and PetroChina deal. A new rig is being sought, with revisiting Gibb Maitland #1 possible later in 2013. Wet gas shows were encouraging but data is insufficient to confirm significance. No firm timetable given.
6 Mar 2013investor presentation● Neutral
Euroz conference presentation restates the Goldwyer focus, the PetroChina deal valuing the stake at $25m, rig search and Merlinleigh and Laurel plans. It cites cash of about $51m and enterprise value of about $11m. Share price was 20c, market cap about $61m.
4 Mar 2013regulatory community update▲ GoodMajor
Scoping study supports Merlinleigh's conventional and unconventional potential. About $3m will fund up to 150km of new 2D seismic in mid 2013, ahead of a planned 1-2 well drilling program in 2014 and a farm-out process targeted for the second half of 2013. Company holds 100%.
1 Mar 2013other▼ Bad
S&P Dow Jones Indices' March quarterly rebalance notice lists New Standard Energy as removed from the S&P/ASX 300 after close on 15 March 2013. It joined that index in September 2012.
21 Feb 2013farm in farm out agreement▲ GoodMajor
PetroChina is set to buy 29% of the Goldwyer joint venture from ConocoPhillips, leaving ConocoPhillips 46% and New Standard 25% as operator. The deal values the project at about US$100m and New Standard's stake at about US$25m. Subject to approvals and New Standard's pre-emptive rights.
8 Feb 2013material agreement termination▼ BadMajor
New Standard terminated the drilling contract with MB Century over safety, competency and rig reliability concerns, backed by an independent audit. Gibb Maitland #1 is suspended and the rig demobilised. The ConocoPhillips farm-in stays on foot; a replacement rig is being sought. Company says permit tenure is not at risk.
29 Jan 2013drilling progress report▼ Bad
After failing to free the stuck pipe, Gibb Maitland #1 is being side-tracked from about 900m, with cement plugs set. Recurring electrical faults on the rig's power controller have it on zero rate. Side-track drilling may run to late March 2013 if it resumes shortly.
23 Jan 2013drilling progress report▼ Bad
Gibb Maitland #1 is at about 2,900m, but the drill pipe and bottom hole assembly became stuck while pulling out to change the bit. Crews are trying to free it, and equipment is ready to side-track the well if needed. A first operational setback for the well.
16 Jan 2013drilling progress report● Neutral
Gibb Maitland #1 drilled from 2,166m to about 2,700m, with minor increases in background gas. Drilling continues toward the second casing point above the Goldwyer coring target.
9 Jan 2013drilling progress report● Neutral
Gibb Maitland #1 reached about 2,166m after the logging-while-drilling tools were fitted. Drilling continues toward the second casing point above the Goldwyer coring target. No hydrocarbon indications. Routine weekly progress.
2 Jan 2013drilling progress report● Neutral
Gibb Maitland #1 reached about 1,885m. The company chose to deepen the well further before fitting logging-while-drilling tools. No hydrocarbon indications, none expected at this depth. Routine weekly progress.
27 Dec 2012drilling progress report● Neutral
Gibb Maitland #1 drilled to 1,758m. The crew will pull out to run a blowout preventer test, change the bit and add logging-while-drilling tools to help pick the second casing point. No hydrocarbons expected at this depth.
19 Dec 2012drilling progress report● Neutral
Gibb Maitland #1 passed casing pressure tests and drilled from 826m to about 1,300m. No hydrocarbon indications, none expected at this depth. Routine weekly progress.
12 Dec 2012drilling progress report● Neutral
Gibb Maitland #1 reached 826m and 13 3/8-inch casing was run and cemented, with pressure testing next. No hydrocarbon indications, none expected at this depth. Routine weekly progress.
6 Dec 2012drilling spud▲ GoodMajor
Gibb Maitland #1 spudded 5 December on EP450, the second Phase One Goldwyer well after Nicolay #1. It targets a central Kidson sub-Basin setting with about 65 days planned, to gather data only, with no flow testing planned. Company holds 25%, ConocoPhillips 75%.
28 Nov 2012investor presentation● Neutral
BBY Energy Conference presentation restates the Goldwyer (ConocoPhillips US$119m farm-in), Merlinleigh and US portfolio, ~$63m cash, $98m market value at 32c and ~$35m enterprise value. Notes the Buru stake is liquidated. No new results.
20 Nov 2012investor presentation● Neutral
November corporate update restates the portfolio and timeline: Gibb Maitland #1 spud due December 2012, then Blatchford #1. It shows about $63m cash, $98m market value at 32c and enterprise value of about $35m. No new information beyond earlier releases.
14 Nov 2012investor presentation● Neutral
Australian Resources Conference presentation on lessons from the US shale gas boom and how they might apply to Australia. It is general industry background with no new company results visible in the text.
13 Nov 2012investor presentation● Neutral
AGM presentation restates strategy: Goldwyer with ConocoPhillips, Merlinleigh, and US assets, with over 14m gross acres. It cites ~305m shares, about $63m cash and a $98m market value at 32c. Largely known facts.
12 Nov 2012drilling scheduled● Neutral
The rig has been released from Nicolay #1 and is moving to Gibb Maitland #1 on EP450, 150km east, with drilling due December 2012 and about 60 days to complete. It targets a more central part of the basin, where the company says richer source rock is more likely. Nicolay core analysis will take two to three months.
7 Nov 2012regulatory community update● Neutral
Partner Green Rock (15% of EP417, 40% of Seven Lakes) gives a portfolio update. Its own East Blina-1 well found no recoverable hydrocarbons. It expects the Seven Lakes gravity survey results within a month, then application to convert to a full permit. Mostly about Green Rock's own assets.
25 Oct 2012drilling progress report● Neutral
Early wireline logs at Nicolay #1 show the Goldwyer is more shale-bearing than core observations suggested, consistent with the gas shows. Further interpretation is needed. Core analysis results are expected early 2013. This is the final weekly report; rig then moves to Gibb Maitland #1.
25 Oct 2012asset acquisition disposition▲ GoodMajor
New Standard sold its remaining 10 million Buru shares at $2.74 for $27.4m before costs, following the 5m sold in August at $3.18. Cash rises to over $65m, which the company says supports expanding its oil and gas activities.
18 Oct 2012drilling result● NeutralMajor
Nicolay #1 was drilled to 3,564m, deeper than the 3,450m plan, to cover the whole Goldwyer. Gas shows faded below ~3,350m, with no heavier hydrocarbons seen. Limestone was thicker than expected. Significance awaits logs and lab work; rig moves to Gibb Maitland #1.
11 Oct 2012annual report● Neutral
The printed 2012 Annual Report repeats the statutory accounts released on 20 September: $27m raised at 30c, cash $24.9m at 30 June, and $15.9m from the Buru share sale after year end. No new information evident.
11 Oct 2012drilling result▲ GoodMajor
Nicolay #1 cut its first Goldwyer core, 54m with 100% recovery, from 3,150m. Gas readings (methane to propane) began from about 2,850m and desorption confirms gas, but the company says significance is unknown until detailed analysis over coming months.
4 Oct 2012drilling progress report● Neutral
Nicolay #1 is at 2,728m, 46 days after spud. The 9 5/8 inch casing was cemented and pressure tested successfully, and drilling resumed in 8.5 inch hole. Next step is drilling to the first coring point in the Nita and Goldwyer formations.
27 Sept 2012drilling progress report● Neutral
Nicolay #1 is at 2,649m, with 9 5/8 inch casing being run and cemented at 2,643m in the upper Bongabinni formation. Drilling will then continue to the Nita formation to prepare for coring. No hydrocarbons were encountered, none expected.
24 Sept 2012other▲ Good
New Standard confirms it became part of the S&P/ASX 300 index from the close on 21 September 2012, as flagged earlier. The managing director says it widens the pool of potential institutional investors and notes market value growth from $30m in mid-2008 to over $140m.
