Past year: ▼ 14%(2.30c – 4.50c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
1 Apr 2010investor presentation● Neutral
Cover announcement for an investor presentation and new website, ahead of a shareholder meeting planned for May 2010 to approve the Indon CBM acquisition. The CEO will present at European conferences in mid-April.
16 Mar 2010half year report▼ Bad
Half-year to 31 December 2009 shows a loss of $4,114,232, against a $439,702 profit a year earlier. The Indon CBM acquisition awaits shareholder approval. Directors are unchanged. The text is truncated, so the cause of the loss is not stated here.
9 Feb 2010director officer appointment▲ GoodMajor
Paul Underwood, founding CEO of Tap Oil for 11 years, is appointed CEO from 8 February 2010 on $300,000 a year plus options. He aims to speed up CBM exploration drilling in Indonesia.
28 Jan 2010quarterly activities report● Neutral
December 2009 quarter: the two Production Sharing Contracts were awarded on 30 November; the Indon CBM shareholder meeting is still being prepared. Cash was $689,000. Cornella is 100%, with transfer and renewal under way.
18 Jan 2010other● Neutral
Routine compliance notice: a further 30.6m shares at $0.10 issued, completing the 60m-share total with the earlier 29.4m. Also issued 50m options at $0.001 and 40m underwriter options, exercisable to January 2013.
24 Dec 2009other● Neutral
Routine compliance notice for 29.4m shares issued at $0.10 on 24 December 2009, the first part of the underwritten $5m offer.
24 Dec 2009capital raising announcement▲ GoodMajor
Transocean Securities has underwritten the full $5m General Offer of 50m shares at $0.10, approved by shareholders on 25 November, for a 6% commission plus underwriter options. Gives Indon CBM funding certainty. Indon CBM resource estimates are given: Rengat 1.2 TCF, Tarakan 0.7 TCF.
4 Dec 2009other● Neutral
Routine compliance notice for 4m shares issued at $0.05 around 30 November 2009, the related-party portion of the convertible loan conversion. No new information.
3 Dec 2009regulatory community update▲ GoodMajor
Indon CBM signed Production Sharing Contracts on 30 November for South Sumatra II and Rengat, the permit award the Indon CBM deal was waiting on. The acquisition still needs shareholder approval, with a meeting expected in 2010.
2 Nov 2009other● Neutral
Routine compliance notice for the 66m shares issued at $0.05 on conversion of the convertible loans. No new information beyond the 2 November announcement.
2 Nov 2009capital raising announcement▲ GoodMajor
The convertible loan facility is fully raised at $3.5m, up from $2.25m committed in July. 66m shares issued at $0.05 now; the other 4m go to related parties and need approval at the AGM. Resolves the earlier fundraising thread.
30 Oct 2009quarterly activities report● Neutral
September 2009 quarter: Indon CBM acquisition now to be extended to 31 March 2010 and still needs shareholder approval. Cornella is 100% after Fosterville withdrew, with a 600m drill still planned; the licence expired 14 July and renewal was lodged. Cash rose to $666,000 from $169,000.
30 Sept 2009annual report● Neutral
Annual report for the year ended 30 June 2009, with governance statement and directors' report. Financial figures were truncated in the text provided, so none are stated here. Directors remain Fraser, Martino and Harper.
31 July 2009quarterly activities report● Neutral
June 2009 quarter: Pertamina Cooperation Agreement signed; Indon CBM shareholder meeting expected September/October. Perseverance, now Fosterville Gold, withdrew from Cornella on 7 July, giving the company 100%. Cash was $169,000. The cash flow shows a $1.925m financing inflow, nature not stated in the visible text.
27 July 2009capital raising announcement● NeutralMajor
Convertible loan commitments reach $2.25m, with up to $3.5m targeted, convertible at $0.05. A fully underwritten $5.05m offer is also proposed, of 50m shares at $0.10 and 50m options. Votes are at a 27 August 2009 meeting. Funds are for Indon CBM.
16 June 2009material agreement▲ GoodMajor
Indon CBM signs a Cooperation Agreement with Pertamina Hulu Energi for the South Sumatra II project, with a 60/40 Pertamina/Trisula split once a contract is granted. This triggers a revised deal: $19.2m paid in 120m shares and 40m convertible preference shares. Shareholder meeting materials follow.
21 May 2009capital raising announcement● NeutralMajor
Company begins raising about $4m through convertible loans, convertible at $0.05 a share, up to 80m new shares if fully converted, subject to shareholder approval. Funds are for the Indon CBM projects. Indon CBM completion date is also extended to 30 September 2009.
23 Apr 2009quarterly activities report▼ Bad
March 2009 quarter: repeats the Indon CBM extension to 31 May 2009 while awaiting Pertamina's Consortium Agreement. Cornella drill program remains planned. Cash at quarter end was $165,000, down from $234,000.
2 Apr 2009material agreement● Neutral
Indon CBM share sale completion date extended again, from 20 March to 31 May 2009. The parties are waiting for Pertamina to sign a formal Consortium Agreement for the South Sumatra II project. Shareholder approval is still required.
16 Mar 2009half year report● Neutral
Half-year to 31 December 2008 shows a $439,702 gain versus a $196,659 loss a year earlier, on revenues of $785,192. Cash was $233,764. The Indon CBM deal remains unapproved, with its timing still open. Directors are now described as non-executive, including Fraser as chairman.
30 Jan 2009quarterly activities report▼ Bad
December 2008 quarter: Indon CBM completion date extended to 20 March 2009 so Indon CBM can progress its production sharing contract applications before the shareholder vote. Cornella drilling still planned, not done. Cash was $234,000, down from $356,000.
31 Oct 2008quarterly activities report● Neutral
September 2008 quarter: Indon CBM update deferred to a separate announcement. Heathcote rehabilitation completed and lease expired 30 June 2008, with sign-off from the Victorian department pending. Cornella 600m drill program still only planned. Cash fell to $356,000 from $478,000.
30 Sept 2008annual report● Neutral
2008 annual report for NuEnergy Capital Limited with governance statement, directors' report and accounts. Visible text shows the board unchanged (Fraser, Martino, Harper) and several governance recommendations not met, such as no audit committee. The financial figures were truncated, so none are stated.
23 Sept 2008material agreement● Neutral
Indon CBM's heads of agreement with state-owned Pertamina for a South Sumatra CBM consortium, signed 20 September 2007, is extended six months. Meeting materials slip again, now to October 2008.
30 July 2008quarterly activities report▼ Bad
June quarter report: Indon CBM meeting materials still not sent, now expected August 2008. Heathcote plant fully removed with rehabilitation about 80% done. Cash at quarter end was $478,000, down from $1,004,000.
10 July 2008material agreement▼ Bad
Indon CBM acquisition delayed again: meeting materials, including the independent expert's report, are now expected in August 2008, previously May. The delay is attributed to preparing technical reports.
23 Apr 2008quarterly activities report● Neutral
March quarter report: a detailed Indon CBM announcement was made on 10 March 2008, covering three areas including East Kalimantan. Shareholder meeting materials are expected in May 2008. Heathcote plant is being dismantled. Cash at quarter end was $1,004,000.
23 Apr 2008other● Neutral
Link Market Services notes its Melbourne address changes from 1 May 2008, covering NuEnergy and other clients. Administrative notice with no substance for the company's story.
13 Feb 2008other● Neutral
Monthly cash flow report for January 2008: cash at month end of $1,649,000 after a $113,000 outflow. A routine financial return.
29 Jan 2008quarterly activities report▲ GoodMajor
December quarter report: Heathcote plant sale completed for $500,000 plus GST in cash after Resource Base listed on 23 November 2007. Indon CBM due diligence is delayed to 15 February 2008. Cash at quarter end was $1,762,000.
