Past year: ▲ 0%(0.40c – 0.40c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
13 Aug 2013asset acquisition disposition● Neutral
New Standard completed its Elixir investment: bought 83.7m shares for $1m at 1.2c, lifting its stake from 13.7% to 28.2%. Cash after the investment is $39.6m (13c a share). It can nominate an Elixir board member.
25 July 2013quarterly activities report● Neutral
June quarter: cash $41.5m. Repeats the Enerdrill rig deal, Condon #1 at Merlinleigh in late 2013 with Canning wells from mid-2014, the Merlinleigh farm-out process, and PetroChina's approvals. No new results reported.
11 July 2013farm in farm out completion▲ GoodMajor
PetroChina has Chinese and Australian approvals and has paid ConocoPhillips for 29% of the Canning joint venture; only Western Australian registration remains. Interests will be ConocoPhillips 46%, PetroChina 29%, New Standard 25% (valued about A$28m). Goldwyer Project renamed Southern Canning Project.
5 July 2013capital raising announcement● Neutral
Elixir Petroleum, in which New Standard holds 13.7%, is raising about $1.85m at 1.2c per share via a fully underwritten entitlements issue. New Standard will take up its rights and sub-underwrite $750k, which could lift its stake to as much as 28.2%.
5 July 2013asset acquisition disposition● Neutral
New Standard will invest up to about $1m at 1.2c per share in Elixir's raising, taking its stake from 13.7% to between 19.99% and 28.2%. It also gets a right to nominate an Elixir board member. Elixir holds the Moselle Project in France.
3 July 2013contract award▲ GoodMajor
New Standard signed with Enerdrill for Rig #3: a firm two-well program plus options for two more. Drilling restarts with Condon #1 at Merlinleigh in late 2013, then 1-3 Canning wells from mid-2014. Merlinleigh seismic is deferred and a farm-out process begins. Cash $41.5m.
30 Apr 2013quarterly activities report● Neutral
March quarter: cash $44.8m. Drilling contract with MB Century ended and Gibb Maitland #1 demobilised; all Goldwyer partners want to re-drill it soon. Rig negotiations are well advanced for drilling later in 2013. Mark Hagan is moving to a non-executive role.
26 Mar 2013director officer appointment● NeutralMajor
Non-executive director Phil Thick becomes Managing Director from 2 April 2013, replacing Sam Willis, who stays on as a director focusing on strategy and corporate matters. Follows the rig contract termination. Thick gets 2m options (40c and 50c) subject to shareholder approval.
15 Mar 2013asset acquisition disposition▲ Good
New Standard takes Green Rock's rights in the Laurel Project, keeping the 15% of EP417 (65% operated total, Buru 35%) and gaining 100% of Seven Lakes. Pays A$1m now and A$650k later. Net acreage rises 49% to 1.183m acres; AMI agreement ended.
15 Mar 2013asset acquisition disposition▲ GoodMajor
Green Rock Energy announced it is selling New Standard its 15% of EP417 and 40% of Seven Lakes for A$1.65m: A$1m upfront, A$650k later. This returns New Standard to full ownership of Seven Lakes. EP417 stake size afterwards is an inference: 65% plus 15%.
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.
31 Jan 2013quarterly activities report● Neutral
December quarter report: cash about $56m (about 19c a share). Early Nicolay #1 results confirm Goldwyer was in the late oil to wet gas window, though organic richness was lower than expected. Gibb Maitland #1 spudded. Merlinleigh scoping and EP417 work continued.
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.
