Past year: ▼ 14%(2.30c – 4.50c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
4 June 2012farm in farm out agreement● NeutralMajor
Varies the November 2011 Tancoal JV to cover all unconventional gas, with NuEnergy at 70% and Tancoal's 30% carried up to 5 years. Tancoal gets a 5% royalty. NuEnergy commits at least US$1m over two years, with 2 core holes and a G&G study; a further US$1m follows if it proceeds.
30 May 2012drilling result▲ GoodMajor
Well 1 core tests show 115 scf/t gas content, 88% saturation and 92.7-98.3% methane, which the company says beats earlier estimates. It states 1.89 Tcf gross gas in place net to NuEnergy. Well 2 finished at 840m and is cased as a pilot well. NSAI report due July.
16 Jan 2012drilling result▲ GoodMajor
First Muara Enim well reached 733m, with 38.2m net coal including one 19m seam. Results are said to match earlier gas-in-place estimates; gas content is due next month. A second well is next, to 1,000m, ahead of an independent resource report and a possible pilot well.
21 Nov 2011farm in farm out agreement▲ GoodMajor
Enters East African CBM through joint ventures over Tancoal and Tanzacoal's Tanzanian coal tenements. NuEnergy's subsidiary holds 70%, operates and funds development; partners get 30% of operating profits plus a 5% royalty. Drilling is intended in first half 2012, delivering the East Africa strategy.
4 Oct 2011resource reserve update▲ GoodMajor
First resource figure for Muara Enim: gas in place estimated at 4.1 to 4.6 Tcf by PT Trias Energy Perkasa, a preliminary estimate to be refined after coring. Drilling is confirmed to start late October once the rig arrives, with pads and land access done.
25 May 2006farm in farm out agreement▲ GoodMajor
The company gains a call option to lift its L Parigi gas consortium stake from 20% to 75% by issuing 175 million shares at 0.5 cents, about 19% of capital, exercisable to 24 November 2006. It also agreed to sell the Heathcote gold plant to Resource Base for $495,000, subject to approvals.
