Past year: ▲ 0%(0.40c – 0.40c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
24 Mar 2014drilling result▲ Good
Peeler Ranch-6H reached target depth, completed well within expected time and budget. Both wells will be fracture stimulated together in April, with tie-in in late April or early May alongside the five producing wells. Production rates not yet known.
7 Mar 2014half year report● Neutral
Half-year report to 31 December 2013 restates the post-period Eagle Ford and Cooper Basin deals, the two Peeler Ranch wells and the 12.3 million barrel 3P reserves. It also records the board changes. No new operational information in the available text.
7 Mar 2014other● Neutral
S&P Dow Jones index rebalance notice for March 2014. The available text does not mention New Standard Energy; no company substance.
5 Mar 2014drilling spud● Neutral
Second Eagle Ford well, Peeler Ranch-6H, has spudded alongside the 5H, with New Standard holding a 98.4375% working interest. Drilling is due to finish by end of March, with fracture stimulation in April and production tie-in late April or early May.
25 Feb 2014drilling result● Neutral
Peeler Ranch-5H, the first Eagle Ford well, reached target depth and casing is being run. Drilling took longer than expected, but the company says it stays within budget and does not delay production. Completion is planned for April, with tie-in in late April or early May.
11 Feb 2014director officer appointment● NeutralMajor
Magnum Hunter's Kip Ferguson joins the board as a non-executive director, as flagged at completion of the Eagle Ford deal. Founding director Dr Mark Hagan resigns, and Sam Willis returns as an executive director.
31 Jan 2014quarterly activities report● Neutral
December quarter report restates the completed Eagle Ford and PEL 570 deals and Eagle Ford drilling. It says the five wells earn about $400,000 a month, with two new wells expected on production by May 2014. No new results.
29 Jan 2014asset acquisition disposition▲ GoodMajor
New Standard completed buying 5,182 net Eagle Ford acres from Magnum Hunter on 28 January 2014, issuing 65.65m shares as part payment. Magnum Hunter is now the largest shareholder and the alliance starts. A credit facility is still being negotiated. Resolves the December 2013 deal.
28 Jan 2014drilling spud▲ GoodMajor
New Standard spudded Peeler Ranch-5H on 26 January 2014, its first Eagle Ford well, operated by Magnum Hunter. Expected to take about 20 days to reach 2,950m vertical depth with a 1,735m lateral; the rig then moves to the 6H well. Meets the lease spud deadline noted earlier.
21 Jan 2014business combination▲ GoodMajor
After shareholders approved all resolutions on 20 January, New Standard completed buying Outback Energy Hunter and Pathfinder (15m shares issued to vendors) and exercised the Eagle Ford option: US$15m cash plus US$9.5m in shares (65.6m) to Magnum Hunter. Completion expected the following week; Kip Ferguson joins board.
21 Jan 2014farm in farm out agreement▲ Good
Ambassador reports New Standard shareholders approved the PEL 570 farm-in; only South Australian government approval remains. Magnum Hunter's subsidiary has given written assurance of technical support. Resolves the shareholder-vote step of the December deal.
13 Jan 2014investor presentation● Neutral
Magnum Hunter's acreage presentation repeats the asset: 7,278 gross and 5,182 net acres, five producing wells, about 400 boe/d net, 50-60 locations. Offset operator results are shown. No new New Standard deal terms in the available text.
10 Jan 2014resource reserve update▲ GoodMajor
Independent report certifies Eagle Ford 3P reserves of 12.3 million barrels of oil equivalent on the 5,182 acres being bought, about $2 per barrel of 3P. 2P oil is 1.88 million barrels. 61 drilling locations identified; EGM set for 20 January 2014.
19 Dec 2013listing compliance notice● Neutral
ASX granted a waiver allowing up to 45m deferred consideration shares for the Pathfinder acquisition, tied to the first four Eagle Ford wells' productivity, to be issued more than three months after the meeting, but no later than 18 January 2016. Administrative.
16 Dec 2013investor presentation● Neutral
Radio interview with the managing director repeats the Eagle Ford and Cooper deal. He says it needs no capital raising and about 20% dilution, and aims to end the cycle of repeated raisings. Cooper seismic is due in 2014 and first well in 2015.
10 Dec 2013investor presentation● Neutral
Presentation repeats the Eagle Ford and Cooper Basin transaction announced the same day: 5,182 net acres, five producing wells (about 400 boepd recent), and 52.5% of PEL 570 for $42.5m. Market cap is shown as $42.7m at 14c. No new deal terms in the available text.
10 Dec 2013farm in farm out agreement● Neutral
Partner Ambassador Oil and Gas confirms it farmed 52.5% of PEL 570 to New Standard for $42.5m of exploration spend over five years, including a 2014 3D seismic survey and three wells. It replaces an earlier August 2013 deal with Outback Energy Hunter.
10 Dec 2013business combination▲ GoodMajor
New Standard will buy 5,182 net Eagle Ford acres in Texas from Magnum Hunter (five producing wells, US$5,300 per acre headline) and farm into 52.5% of Cooper Basin PEL 570 by spending $42.5m. Magnum Hunter becomes largest shareholder. Shareholder vote planned January 2014; a shift from pure exploration toward production.
10 Dec 2013drilling scheduled▼ BadMajor
Condon-1 at Merlinleigh is pushed from early December 2013 to the second half of 2014, by agreement with Enerdrill, so about $13m can go to two Eagle Ford wells first. This reverses the earlier December spud plan; the company says no large extra costs arise.
14 Nov 2013investor presentation● Neutral
AGM presentation outlines a board-refreshed strategy: stay in Western Australia, find partners for Merlinleigh and Laurel, and look for nearer-term assets. Condon-1 is due in December, with 1-2 Canning wells in 2014 (previously 1-3). Seven Lakes permit conversion is expected within a month.
14 Nov 2013other● Neutral
AGM chairman's address defends the decision to replace the rig contractor after the stuck pipe at Gibb Maitland-1. It repeats an early December Condon-1 spud, about thirty days of drilling, and the Canning view. It also notes board interest in nearer-term opportunities. No new results.
24 Oct 2013quarterly activities report● Neutral
September quarter: cash $37.3m. Condon-1 spud is now early December 2013, with civil works complete. Merlinleigh farm-out may be pursued after drilling if no partner is found within a month. Third Canning well targeted second half 2014. Laurel 100% and Elixir 28.2% repeated.
11 Oct 2013asset acquisition disposition▲ GoodMajor
New Standard lifts its EP417 interest in the Laurel Project from 65% to 100% by taking Buru Energy's 35% for nil consideration. With Seven Lakes, net Laurel acreage is 1.46m acres. Buru said the 2014 commitment well is not a priority; New Standard still plans a farm-out.
10 Oct 2013annual report● Neutral
Glossy 2013 Annual Report repeats the earlier statutory accounts: Merlinleigh permits, Enerdrill rig, PetroChina entry, Elixir stake at 28.2% and the roughly $43m Buru share sale. No new information in the available text.
23 Sept 2013annual report● Neutral
Statutory accounts for the year to 30 June 2013 largely restate known events: Nicolay-1 success, Gibb Maitland-1 suspended at about 2,900m, the PetroChina entry, the Enerdrill rig and the Buru share sale. Cash was $41.5m at year end. Financial statements are not visible in the available text.
17 Sept 2013drilling scheduled● Neutral
Condon-1 at Merlinleigh remains on track for Q4 2013; heritage and environmental approvals are in and the drill approval application was lodged. Farm-out is in 'final stages' but the company will drill at 100% if needed. Mark Hagan is now a non-executive director; a third independent director is sought.
12 Sept 2013price query● Neutral
ASX queried a rise from $0.175 to an intra-day high of $0.205 and higher volume. New Standard replied it knew of no undisclosed information and was complying with disclosure rules, so no explanation was given for the move.
4 Sept 2013investor presentation● Neutral
Good Oil Conference presentation repeats known plans: Merlinleigh well in Q4 2013, 1-3 Canning wells in 2014, partners sought for Merlinleigh and Laurel. Notes cash of $41.5m (June) and Sam Willis joining the Elixir board. No new results.
28 Aug 2013investor presentation● Neutral
Managing Director's DUG conference presentation on Canning Basin potential. It repeats known plans: Enerdrill Rig #3, one firm Merlinleigh well in late 2013, 1-3 Canning wells from mid-2014, and the 25% Southern Canning interest. No new results or deals.
19 Aug 2013investor presentation● Neutral
Radio interview with the managing director repeats known plans: Merlinleigh's Condon #1 well first, Canning drilling after the wet season, an ongoing Merlinleigh farm-out, and the Elixir stake above 28%. Condon #1 is expected to be a vertical well, likely tight gas.
