Past year: ▼ 14%(2.30c – 4.50c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
23 July 2025drilling result▲ Good
TE-B06002 drilled to 424 m, intersecting five coal seams totalling 47.3 m, with gas shows. Pump installed and dewatering began 22 July. Rig is moving to the third well. Similar to the first well's result; no flow rates yet.
8 July 2025drilling spud● Neutral
Spudded the second early gas sales well, TE-B06002, on 7 July 2025, planned to about 416 m and close to the first well. Part of the four-well programme targeting 1 MMSCFD.
4 July 2025drilling result▲ GoodMajor
TE-B06001 drilled to 411 m, intersecting five coal seams totalling 47.5 m thick between 283 and 406 m, with gas shows at surface. A pump is installed and dewatering has begun, with gas build-up seen. No flow rates yet.
30 June 2025material agreement● Neutral
The PGN heads of agreement, signed 27 June 2024, expired 27 June 2025 and was extended to 26 June 2026, or earlier on signing of a gas sale agreement or written termination. The formal GSPA is still unsigned.
20 June 2025admin correction● Neutral
Amended re-release of the 26 May spud announcement, adding a reserves appendix and stating 143 Bcf estimated sellable gas against 164.89 Bscf certified reserves. Also states 100% economic interest in POD 1, which differs from the 45% participating interest elsewhere. Drilling facts unchanged.
26 May 2025drilling spud▲ GoodMajor
Spudded TE-B06001 on 25 May 2025, the first of four early gas sales wells at Tanjung Enim, planned to about 463 m. Targets initial sales of 1 MMSCFD. Moves the project from preparation into actual drilling after the 2021 POD approval.
29 Apr 2025quarterly activities report▲ Good
March 2025 quarter: drilling site preparation began at Tanjung Enim for the early gas sales wells; long lead items received and first of four wells expected to spud in May. GSPA with PGN still awaits MEMR approval. Muralim extension requested; Muara Enim II relinquishment under way.
13 Mar 2025half year report● Neutral
Half-year report to 31 December 2024. Visible text restates the $5.99m entitlement offer (299.7m shares at $0.02, 1,780.7m shares on issue) and Tanjung Enim POD 1 background, with no significant changes in state of affairs. Financial figures not visible in the truncated text.
11 Mar 2025asset acquisition disposition● NeutralMajor
Relinquishing the Muara Enim 2 PSC (30% interest, operator), leaving three PSCs. The company says there is no material profit impact as costs were fully impaired by FY19, and it will focus on Tanjung Enim. Ends the thread over its extension request.
22 Jan 2025quarterly activities report▲ Good
December 2024 quarter: GSPA terms with PGN finalised on 31 December 2024, and SKK Migas sent the gas allocation and price application to MEMR on 18 December. GSPA signing awaits MEMR approval. Long lead drilling items have arrived in Indonesia and are in customs clearance.
5 Dec 2024investor presentation● Neutral
Revised re-release of the November 2024 corporate presentation, with a disclaimer section added. Content otherwise appears to repeat the earlier version; no new substance visible.
19 Nov 2024investor presentation● Neutral
Corporate presentation repeating known facts: 9,691 Bcf gas in place across four assets, $6m rights issue, PGN heads of agreement, and Tanjung Enim nearing first revenue. No new information in the visible text.
28 Oct 2024quarterly activities report● Neutral
September 2024 quarter: rights issue raised $6m. Tanjung Enim gas allocation application with SKK Migas (PGN as buyer) still awaiting approval; GSPA terms being worked on. Muara Enim will use the new 95/5 gross split instead of its pending conversion application; Muara Enim II extension requested.
19 Sept 2024agm notice● Neutral
The 2024 AGM will be held on 19 November 2024, with director nominations closing 30 September 2024. Administrative notice only.
18 Sept 2024annual report▼ Bad
FY24 annual report: net loss $807k (FY23 $1.04m), cash $146k (FY23 $1.44m), net assets $25.9m. Lists further funding as a key risk. All four PSCs remain pre-production, with 26 wells drilled to date.
18 Sept 2024other● Neutral
FY24 corporate governance statement and Appendix 4G. Routine compliance document with no new operational or financial information.
16 Sept 2024capital raising announcement● NeutralMajor
Entitlement offer closed with acceptances for 299.7m new shares, raising about $5.99m at $0.02, short of the $8.17m maximum. Shares on issue rise to 1,780.7m; Globaltec now holds 41.72% and New Century 26.88%.
What it means for a shareholder
300m new shares at about A$0.020 to raise about A$6.0m. That's 17% dilution: every existing holder's slice gets 17% smaller. If you held A$1,000 of shares (50,033 at the issue price), your slice goes from 0.00338% to 0.00281% of the company. To keep it you'd need 10,125 more shares - about A$202 at the issue price.
Create a free account to see this worked out for your own holding.
3 Sept 2024other● Neutral
Administrative notice that the entitlement offer document and acceptance form were sent to shareholders. No new information.
26 Aug 2024capital raising announcement● Neutral
Offer document for the 8-for-29 entitlement offer at $0.02 to raise about $8.17m, closing 12 September 2024. Entitlements are tradeable. Repeats the terms announced the same day; the visible text adds no new figures.
26 Aug 2024capital raising announcement● NeutralMajor
Launches an 8-for-29 renounceable entitlement offer at $0.02 per share to raise up to about $8.17m, partially underwritten to $5.28m by major shareholder Globaltec. Funds are mainly for the Tanjung Enim early gas sales initiative; cash was only $146k at 30 June 2024.
26 Aug 2024admin correction● Neutral
Updated offer timetable: record date moved to 30 August 2024 and ex-date to 29 August. The rest is unchanged, with the offer closing 12 September and new shares trading from 17 September 2024.
29 July 2024quarterly activities report● Neutral
June 2024 quarter: PGN Heads of Agreement signed; gas allocation and price application lodged with SKK Migas on 8 July 2024 naming PGN as buyer. Muara Enim 003A well and Muara Enim II coreholes still being prepared; Muralim dewatering continues.
28 June 2024material agreement▲ GoodMajor
Signed a Heads of Agreement with PGN, a Pertamina subsidiary, to sell Tanjung Enim coal bed methane starting at 1 MMSCFD under a proposed 15-year gas agreement. Adds a larger buyer alongside the Laras HOA; not a binding sale and valid 12 months.
30 Apr 2024quarterly activities report● Neutral
March 2024 quarter: Tanjung Enim gas allocation process ongoing, with the Laras HOA extended to 30 June 2024. Company reports interest from other buyers. Muara Enim extension to 17 Sep 2025 received; Muralim dewatering continues.
2 Apr 2024material agreement▼ Bad
Laras Energy Heads of Agreement, which expired 30 March 2024, was extended again to 30 June 2024 or until a gas sale agreement is signed or terminated. Third extension; binding sale still not signed.
18 Mar 2024regulatory community update▲ GoodMajor
Muara Enim PSC (40% interest, 587 km2) exploration period extended to 17 Sep 2025, giving time to test gas productivity and submit a plan of development. Resolves the pending extension request; gross split conversion application still awaiting approval.
14 Mar 2024half year report● Neutral
Half-year report to 31 Dec 2023. Visible text is truncated and shows no financial figures. It says no significant changes in the state of affairs, and gas allocation and price approval is still pending for Tanjung Enim.
29 Jan 2024quarterly activities report● Neutral
December 2023 quarter: Tanjung Enim still awaiting government gas price and volume approval before sales. MU-006 well workover completed and dewatering started at Muralim. Letter requested extra exploration time for Muara Enim. Laras HOA extended 3 Jan 2024.
4 Jan 2024material agreement▼ Bad
Laras Energy Heads of Agreement extended again, from 31 Dec 2023 to 30 March 2024, or until a gas sale agreement is signed or both parties terminate it. Binding agreement has slipped again.
22 Nov 2023investor presentation● Neutral
November 2023 corporate presentation. Cites 9,691 Bcf gas in place across four assets, with Tanjung Enim (45%) nearest to first revenue. Text is truncated and appears to repeat known project information.
