Past year: ▼ 14%(2.30c – 4.50c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
30 Aug 2013annual report● Neutral
Annual report for the year to 30 June 2013. Only the corporate directory and governance statement are readable: four directors (Robertson, Fraser, Warrand, Cockcroft), Hall Chadwick as auditor. No financial figures are readable.
29 Aug 2013drilling scheduled● Neutral
A drilling rig is being mobilised (from 26 August) for Pilot Well 2 at Muara Enim, to be drilled to 800 m. It will be radial jetted over 31 m of coal and tied into the pilot plant. This is later than the 'within six weeks' from late May.
31 July 2013quarterly activities report● Neutral
June quarter report: radial jetting finished, pilot gas flowing since 25 May with flow tracking forecast, and the Malawi survey completed (results next quarter). Pilot well drilling contractor not yet named; abandoned wells testing applied for. Still targets reserves and first revenue by year end.
30 July 2013investor presentation● Neutral
Notice of a BRR Media webcast with the CEO on 30 July. Administrative link only; no new information in the announcement itself.
19 June 2013investor presentation● Neutral
CEO presentation at a Singapore CBM conference recapping known facts: 281m shares, 4.2 Tcf prospective, 98 Bcf contingent, the US$10 MoU and PSC interests. Lists Farjoy 25.9% and Aspac 15.3% as major holders. No new announcements in the readable text.
29 May 2013production update▲ GoodMajor
Pilot production restarted 25 May at Muara Enim; after 60 hours gas flowed at 0.2 mmscfd with water at 130 bbl/d. Gas covers site power costs of about US$2,000/day; company forecasts 1.5 mmscfd and about US$15,000/day later. First sales still targeted December 2013.
22 May 2013drilling result▲ Good
Radial jetting at Muara Enim pilot well 1 finished 19 May: 15 laterals across 5 seams, 485 m total, within budget. Company says this exceeded expectations. Dewatering to restart and two more pilot wells to start drilling within six weeks. No gas rate yet.
15 May 2013regulatory community update● Neutral
Airborne geophysical survey started at the 346 km2 Malawi licence (100% NGY), expected to take 12 days, with drilling to follow. A ribbon-cutting event was attended by Malawi's Vice President. Early-stage exploration; no results yet.
1 May 2013drilling progress report▲ Good
Radial jetting began 29 April on the Muara Enim pilot well, targeting 5 new coal seams (29 m thick) with over 480 m of laterals. Pilot production is to restart within two weeks; first gas sales are still targeted by 31 December 2013.
30 Apr 2013quarterly activities report● Neutral
March quarter report recaps the non-binding US$10/mmBtu gas MoU with PT DPS (1-5 mmscfd), RPS's 98 Bcf 3C contingent resource and the completed $6m rights issue. Pilot well contractors are being tendered; Malawi survey due May. Mostly repeats known facts.
23 Apr 2013capital raising announcement● Neutral
Allotment of the shortfall shares to the underwriters is complete, completing the $6m rights issue. NuEnergy now has 281,659,907 ordinary shares on issue, up from about 201m.
5 Apr 2013capital raising announcement● NeutralMajor
Rights issue closed with acceptances for only 4,319,979 of 80,474,259 new shares; the underwriters will take up the 76,154,280-share shortfall. Total raised is $6,035,569 before costs. Very little take-up by ordinary shareholders, so the underwriters supply nearly all the money.
What it means for a shareholder
80.5m new shares at about A$0.075 to raise about A$6.0m. That's 22% dilution: every existing holder's slice gets 22% smaller. If you held A$1,000 of shares (13,333 at the issue price), your slice goes from 0.00473% to 0.00368% of the company. To keep it you'd need 3,810 more shares - about A$286 at the issue price.
Create a free account to see this worked out for your own holding.
27 Mar 2013capital raising announcement● Neutral
Reminder that the 2-for-5 rights issue at 7.5c closes at 5pm on 3 April 2013, with BPay available. Repeats known terms and use of funds; no new information.
7 Mar 2013admin correction● Neutral
Corrects the 5 March shareholder letter: shareholders can apply only for their pro-rata entitlement under the rights issue, not for extra shares through a shortfall facility.
5 Mar 2013admin correction● Neutral
Corrects the 1 March notice: the 500,000 options at 80c expire on 28 February 2014, not 2013, so they have not lapsed.
5 Mar 2013other● Neutral
Copies of letters to shareholders and optionholders about the rights issue, with the timetable (record date 13 March, close 3 April) and about 80.5m new shares. The shareholder letter wrongly mentioned a shortfall facility (corrected later). No new information.
4 Mar 2013investor presentation● Neutral
Notice of a BRR Media webcast in which the Chairman and CEO discuss the gas sales MoU and the 2013 outlook. Administrative link; no new information in the announcement itself.
4 Mar 2013capital raising announcement● NeutralMajor
Fully underwritten 2-for-5 rights issue at 7.5c to raise $6m, with a 4% underwriting fee. Funds are for the South Sumatra pilot ($5.5m of a $8m budget) and East Africa exploration. Underwriters are existing shareholders, RBS Morgans and Republic Investment Management. This is cheaper than the 9c issue of December 2011.
4 Mar 2013capital raising announcement● Neutral
Formal offer document for the 2-for-5 rights issue at 7.5c to raise about $6.0m, fully underwritten, closing 3 April 2013. Rights are non-renounceable and cannot be traded. Repeats the terms announced the same day.
1 Mar 2013security holder rights change● Neutral
Announced that 500,000 unlisted options at 80c had lapsed on 28 February 2013. This was later corrected (see 5 March notice).
28 Feb 2013resource reserve update▲ GoodMajor
RPS certifies the first contingent resources at Muara Enim: 97.5 Bcf at 3C, but only 2.1 Bcf at 1C and 2C (gross, NGY 40%). This follows the earlier 4.2 Tcf prospective figure, but only a small part is so far in the contingent category. Chance of development is put at 70%.
26 Feb 2013half year report● Neutral
Half-year report to 31 December 2012, audited by Hall Chadwick, with 201,185,648 shares on issue. The readable text recaps pilot flaring, NSAI's 4.2 Tcf and the shale estimate, and PLN's site visit. No financial figures are readable in the excerpt.
26 Feb 2013investor presentation● Neutral
February 2013 presentation restates the US$10/mmBtu MoU, 4.2 Tcf resource and flaring results. It adds two more pilot wells planned for March-April 2013 and first revenue expected in Q4 2013. It shows market cap of $12m at 6c, down from about $20m at 10c in November.
18 Feb 2013material agreement▲ GoodMajor
Non-binding MoU with PT Dharma Pratama Sejati to buy Muara Enim gas at US$10/mmBtu, 1-5 mmscfd, delivered at the pilot plant gate. A gas sales agreement is targeted by 30 September 2013. Gross revenue is US$10,000-50,000 a day to the JV, in which NGY holds 40%. First pilot sales are the next step.
14 Feb 2013regulatory community update● Neutral
21,737,664 restricted shares will be released from escrow on 7 March 2013, and a further 250,000 on 15 March 2013. Administrative notice; it does not itself say anything about the company's operations.
30 Jan 2013quarterly activities report● Neutral
December 2012 quarter: recaps the Muara Enim pilot flaring and 11 mD permeability. New: RPS engaged for certification, PLN talks on about 4 MW of power with agreement expected Q1 2013, Malawi aeromagnetic survey planned, and a second Tanzanian scout well completed.
11 Jan 2013security holder rights change● Neutral
1,500,000 unlisted options at 40c, expiring 31 December 2012, lapsed unexercised. The attached Appendix 3B shows 179,197,984 quoted shares and several other option series still on issue.
8 Jan 2013director officer appointment● Neutral
Simon Harvey, the company's Group Financial Controller since September 2011, became Chief Financial Officer from 1 January 2013. An internal promotion; no other management changes are stated.
5 Dec 2012auditor change● Neutral
After the 28 November AGM and ASIC consent, BDO East Coast Partnership (formerly PKF) resigned as auditor and Hall Chadwick was appointed. No reason is given in the announcement.
3 Dec 2012other● Neutral
Notice of a BRR Media webcast in which the Chairman and CEO update investors on the Indonesian and East African assets. Administrative link with no new information in the announcement itself.
