Past year: ▲ 0%(0.40c – 0.40c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
20 Sept 2012drilling progress report● Neutral
Nicolay #1 is at 2,593m, having made only 343m in the week as the Nibil formation proved thicker than expected, slowing drilling to 2-3m per hour. The company says this adds drilling time but has no material implication for the well prognosis. No hydrocarbons expected.
20 Sept 2012annual report● Neutral
Statutory accounts for the year to 30 June 2012: cash $24.9m (up from $4.6m), total assets $94.4m (from $30.1m), helped by the $27m raising at 30c. A further $15.9m came after year end from the Buru share sale.
13 Sept 2012drilling progress report● Neutral
Nicolay #1 is at 2,250m, 25 days after spud, having drilled 847m in the week despite some rig downtime from mechanical issues. No hydrocarbons were encountered, none expected. The 55-day estimate to about 3,450m is unchanged.
12 Sept 2012investor presentation● Neutral
Euroz conference presentation restates the Goldwyer (US$119m ConocoPhillips farm-out) and Merlinleigh strategy. It cites 305m shares, about $40m cash, 10m Buru shares at about $26m and enterprise value of about $74m at $0.46. Largely known facts.
7 Sept 2012other▲ Good
S&P Dow Jones Indices will add New Standard Energy to the S&P/ASX 300 index after the close on 21 September 2012. This is an index notice, not a company announcement; it may raise the share's profile with index-tracking investors (inference).
7 Sept 2012regulatory community update● Neutral
The airborne gravity survey over EP417 and the Seven Lakes SPA is complete, on time and in line with the cost estimate. Results will be combined with existing data over the coming months to pick targets, including an application to convert Seven Lakes to a full exploration permit.
7 Sept 2012regulatory community update● Neutral
Green Rock Energy forwards NSE's announcement that the airborne gravity survey over EP417 and Seven Lakes is complete. Green Rock holds 15% of EP417 and 40% of Seven Lakes. It is a cover note with no new information.
7 Sept 2012regulatory community update● Neutral
Buru Energy, which holds 35% of EP417, forwards NSE's announcement that the airborne gravity survey is complete. It is a cover note repeating NSE's release with no new information.
6 Sept 2012drilling progress report● Neutral
Nicolay #1 is at 1,403m, 18 days after spud, and is pulling out of the hole to change the drill bit. No hydrocarbons were encountered, and none were expected. The 55-day estimate to about 3,450m is unchanged.
4 Sept 2012investor presentation● Neutral
Good Oil Conference presentation restates the strategy: Goldwyer (US$119m ConocoPhillips farm-out) and Merlinleigh. Lists 305m shares, about $40m cash and 10m Buru shares at about $26m, giving an enterprise value of about $70m at $0.445 per share. Largely known facts.
30 Aug 2012drilling progress report● Neutral
Nicolay #1 reaches the first casing point at 858m, where 13 3/8 inch casing is run, cemented and pressure tested. Drilling continues toward the second casing point above the Nita and Goldwyer formations. The 55-day estimate is unchanged.
23 Aug 2012drilling progress report● Neutral
Nicolay #1 is at 660m, five days after spud, drilling toward a first casing point on the way to about 3,450m. No hydrocarbons are expected at this stage. ConocoPhillips is funding the first US$13m per well, and the 55-day estimate is unchanged.
23 Aug 2012drilling progress report● Neutral
NSE starts an airborne gravity survey (about 3,695 line km) over EP417 and the Seven Lakes SPA, taking about 3 weeks. It fulfils the work commitments for both areas, and follows the 2011 Lawford #1 well that missed the Laurel target. Results are due within 40 days of completion.
23 Aug 2012regulatory community update● Neutral
Buru Energy, which holds 35% of EP417, forwards NSE's announcement of the start of the airborne gravity survey. It is a cover note repeating NSE's release with no new information.
23 Aug 2012regulatory community update● Neutral
Partner Green Rock Energy forwards NSE's news that an airborne gravity survey has started over EP417 and the Seven Lakes SPA. Green Rock holds 15% of EP417 and 40% of Seven Lakes. Repeats NSE's announcement; no new information.
20 Aug 2012drilling spud▲ GoodMajor
Nicolay #1, the first Goldwyer Phase 1 well, spudded on 18 August after the delay, targeting about 3,450m (deeper than the earlier 3,200m). Drilling is expected to take about 55 days, with coring and logging only, no fracturing or flow testing.
13 Aug 2012regulatory community update▲ GoodMajor
Merlinleigh's two exploration permits are granted after a native title agreement with the Gnulli group, resolving the open permit and native title thread. NSE holds 100%. Partnering assessment follows in H2 2012, with on-ground exploration in 2013.
6 Aug 2012asset acquisition disposition▲ GoodMajor
NSE sells 5m of its 15m Buru shares at $3.18 for $15.9m before costs, lifting cash above $40m. It bought them at 17c in 2009. It keeps 10m Buru shares, and cites capital management and funding for Merlinleigh partnering.
2 Aug 2012drilling scheduled▼ Bad
Nicolay #1 spud slips from July to mid-August after faults in a rig control panel, now reported resolved. NSE says it is not liable for rig rates during rig-up. First Goldwyer well delayed by about two weeks or so.
16 July 2012director officer appointment● Neutral
Phil Thick, former Coogee Chemicals managing director, joins as non-executive director, and Ken Aitken, ex-Origin Energy, becomes General Manager Operations and Engineering and Goldwyer project manager. Thick gets 300,000 options (subject to shareholder approval); Aitken 750,000 options.
2 July 2012drilling progress report● Neutral
The rig has reached the Nicolay #1 site after a 2,500km move from Darwin and is being rigged up, with spud expected in the next few weeks subject to final compliance inspections. Work continues on Gibb Maitland #1 and Blatchford #1.
31 May 2012resource reserve update▲ GoodMajor
Technical review of the 100%-owned Merlinleigh Project cites potential gas in place of up to 33 TCF unconventional and up to 1.2 TCF conventional across four prospects. These are potential figures, not booked resources. Native title talks are advanced; partnering to be assessed in H2 2012, drilling planned H1 2013.
30 May 2012drilling scheduled▲ Good
NSE takes delivery of MB Century Rig #14 after Darwin customs and quarantine clearance and begins moving it to Nicolay #1 (about 3,200m), with spud now expected around mid July. Vertical wells are for data, and no flow testing is expected.
21 May 2012investor presentation● Neutral
Singapore/Hong Kong conference presentation restates the strategy: Goldwyer (US$119m ConocoPhillips farm-out, drilling mid 2012) and 100% Merlinleigh. Lists 292.5m shares, about $23m cash and 15m Buru shares worth about $42m. Largely known facts.
10 May 2012investor presentation● Neutral
JP Morgan Shale Conference presentation repeats the March strategy: Goldwyer drilling mid 2012 and 100% Merlinleigh. Lists 292.3m shares, about $23m cash and Buru shares worth about $39m. The farm-out is now shown as US$119m, with Elixir at 13.7%.
7 May 2012director officer appointment● Neutral
Non-executive director Ian Paton, a director for five years and earlier chairman, resigns, completing the board renewal begun with Arthur Dixon's May 2011 appointment and Chris Sadler's April 2012 appointment. Board is now Dixon, Sadler, Willis and Hagan.
26 Apr 2012joint venture update● NeutralMajor
Goldwyer Phase 1 stays on track: Nicolay #1 (EP456, about 3,200m) is the first well, with a July 2012 spud intended. ConocoPhillips' cap rises to US$13m per well (US$39m total); NSE funds overruns and 25% of about US$5m of studies. Conditions precedent are now met or waived.
23 Apr 2012director officer appointment● Neutral
Chris Sadler, a corporate finance veteran and former Eastern Star Gas director, joins as non-executive director, appointed 20 April. He is to receive 300,000 unlisted options, subject to shareholder approval. The notice lists a 13.7% Elixir holding.
15 Mar 2012half year report● Neutral
Half-year report to 31 December 2011 restates the period's events: the September ConocoPhillips farm-out, with Phase 1 (three vertical wells funded by ConocoPhillips) due to start mid 2012. Financial figures are not visible in the excerpt provided.
8 Mar 2012other● Neutral
Notice of a Boardroom Radio audio broadcast with Sam Willis on the drilling rig secured for the Goldwyer Project. No new information beyond the 29 February rig announcement; the boilerplate notes the Elixir stake as being acquired.
