3 Mar 2011other● Neutral
Shareholder distribution schedule as at 2 March 2011: 1,170 holders and 124,804,751 shares, including 40m escrowed shares. Administrative disclosure required for reinstatement.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
3 Mar 2011other▲ GoodMajor
ASX will reinstate NuEnergy shares to quotation from 7 March 2011 after the company met listing rule requirements, ending the suspension that began 25 August 2010. 84,804,751 shares are quoted.
3 Mar 2011other● Neutral
Rules of the Employee Incentive Plan, dated July 2010, allowing options to directors, employees and consultants at no less than 80% of market price. No options have yet been issued under it.
3 Mar 2011admin correction● Neutral
Checklist of pre-quotation documents ahead of the 7 March 2011 reinstatement, including a statement confirming completion of the Indon CBM share sale agreement. Administrative cover notice with no new figures.
3 Mar 2011other● Neutral
ASX circular confirming reinstatement on 7 March 2011. Escrow applies to 21,737,664 shares and 500,000 options for 24 months, and to 18,262,336 shares until 1 March 2012.
14 Feb 2011capital raising announcement▼ BadMajor
Public offer price cut again, from 56c to 51c, so the same $9m now needs 17,647,059 shares. Ten million piggyback options were exercised at 20c, raising $2m. Total shares on completion would be 114,804,751.
31 Jan 2011quarterly activities report● Neutral
December 2010 quarter: share issue missed the 31 December waiver deadline, and a further ASX waiver was sought. Piggyback options raised $2m in January. 2010 Indonesian work programmes rolled into 2011, with four wells now costing up to about $6m.
12 Jan 2011capital raising announcement▼ Bad
Minimum subscription of $9m not met, so no shares issued. Offer close extended to 24 February 2011; the company intends to seek a further ASX waiver and to vary the Indon CBM sale agreement so completion occurs by 30 April 2011.
5 Jan 2011capital raising announcement▼ BadMajor
The $9m offer was not fully subscribed, so shares were not issued by the 31 December 2010 waiver deadline. The company is considering a further ASX waiver to complete the Indon CBM acquisition and the raise.
24 Dec 2010other● Neutral
Amended securities trading policy for directors, executives and employees, covering insider trading rules. Administrative; no new figures or business developments.
18 Nov 2010regulatory community update▼ Bad
Timetable slips again: offers now close 20 December 2010, with acquisition completion 22 December and trading resuming 30 December. ASX granted a waiver letting shares be issued past the 3-month limit, but no later than 31 December 2010.
25 Oct 2010quarterly activities report● Neutral
September 2010 quarter: Indon CBM acquisition approved 25 August but still awaiting the $9m raise. Drilling and coring of wells, costing up to $4m, is planned for later in 2010. CEO Underwood's resignation (effective 31 Dec) is noted. Cash outflow was $888k.
12 Oct 2010capital raising announcement● Neutral
Supplementary prospectus extends the offers' close to 15 November 2010, with new shares trading from 25 November. Underwood keeps 3.75m options and 2.5m lapse. The 4-for-1 consolidation is done, leaving 47.2m shares; 103.2m after the offers.
30 Sept 2010annual report● Neutral
Annual report for the year to June 2010 lists directors Fraser, Luke Martino and Harper, with Domenic Martino as proposed director. Governance policies were adopted on 20 July 2010 in anticipation of the Indonesian acquisition. Financial figures are not in the text provided.
29 Sept 2010director officer appointment▼ BadMajor
CEO Paul Underwood, appointed only in February 2010, resigns and leaves on 31 December 2010, helping with the Indon CBM completion until then. Domenic Martino joins the board on completion. No replacement CEO is named.
17 Sept 2010other▼ Bad
Timetable pushed back again: offer closes 8 October, with acquisition completion on 18 October and trading resuming 21 October 2010. This is a second delay to the $9m raise; no reason is given.
27 Aug 2010other▼ Bad
Updated timetable pushes the offer close to 17 September and acquisition completion to 24 September 2010, with trading expected to resume 30 September. Earlier dates have slipped; no reason is given.
25 Aug 2010investor presentation● Neutral
Presentation for the 25 August meeting lists eight resolutions, including the acquisition, consolidation, and Domenic Martino's election. It repeats known facts: about 3,300 km2 of acreage, $9m offer at 56 cents, and about $8.5m cash post-offer. Share price was 14 cents.
13 Aug 2010capital raising announcement● Neutral
Prospectus lodged for the $9m raise at 56 cents per share, cut from the 64 cents first intended because of prevailing market conditions. Offer closes 27 August; acquisition completion and trading restart are targeted for 7 and 9 September 2010.
13 Aug 2010capital raising announcement● NeutralMajor
Prospectus offers 16,071,428 new shares at 56 cents to raise $9m, plus 40m shares to Indon CBM vendors. Both offers depend on shareholder approval of the acquisition and consolidation, and ASX re-compliance. The price is below the 64 cents first flagged.
30 July 2010quarterly activities report● Neutral
June 2010 quarter: the Indon CBM approval meeting is now set for 25 August 2010, alongside a 1-for-4 consolidation. A prospectus to raise about $9m is being prepared. Drilling and coring of several wells, costing up to $4m, is planned for later this year.
23 July 2010other● Neutral
Rules of a new Employee Incentive Plan allowing options to directors, employees and consultants, exercise price at least 80% of market price. The plan is put to shareholders for approval at the 25 August meeting. No grants or figures are stated in the text provided.
1 June 2010capital raising announcement● NeutralMajor
Confirms the $19.2m Indon CBM purchase for 160m shares (40m after a planned 4-for-1 consolidation). Plans a roughly $8m raise of 12.5m post-consolidation shares at 64 cents (16c pre-consolidation). Shares will be suspended after the approval meeting until ASX re-compliance.
7 May 2010material agreement▲ GoodMajor
Indon CBM signed a contract with Bukit Asam, a government-owned coal miner, to jointly study 2,012 km2 of coal bed methane acreage next to its Rengat PSC. A PSC application would follow if results encourage. Indon CBM would hold over 7,000 km2 including applications.
30 Apr 2010security holder rights change● Neutral
Letter to holders of listed NGYO options: they expire 1 June 2010 unless exercised at 20 cents each. Shares closed at 14.5 cents on 29 April, below that exercise price.
30 Apr 2010quarterly activities report● Neutral
March 2010 quarter: Indon CBM acquisition still awaits a shareholder meeting, with materials in preparation. US$2m signature bonuses were paid on the two PSCs. Cash rose to $2.191m from $689k after $3.11m of financing receipts. Cornella was renewed and transferred 100% to the company.
22 Apr 2010material agreement● Neutral
Engages Convergence Capital Corporation for investor relations, paid with up to 4m shares over three months on performance hurdles. Secondary listing approved in Frankfurt and Berlin. The Indon CBM shareholder meeting is now planned for June 2010, slipping from May.
14 Apr 2010investor presentation● Neutral
Management will hold an investor road show from 16-24 April 2010 in Singapore, Frankfurt and Stuttgart. No new operating or financial information.
1 Apr 2010investor presentation● Neutral
Investor presentation of 31 March 2010 gives the share price as 12c, cash of about A$2.5m, and 187.6m shares plus 160m for Indon CBM. It repeats known facts: two PSCs over 3,500 km2 and Pertamina partnerships. Domenic Martino is proposed as chairman.
1 Apr 2010material agreement● NeutralMajor
Indon CBM completion date extended to 30 September 2010, though a shareholder meeting is planned by end of May. With the Pertamina triggers met, vendors now get 160m ordinary shares instead of 120m shares plus 40m preference shares.