Past year: ▼ 14%(2.30c – 4.50c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
3 June 2019capital raising announcement▼ Bad
NuEnergy granted a fourth deposit extension, to 7 June 2019, with Saujana offering a USD250,000 extension fee due by 4 June. The fee counts toward the deposit and may be forfeited if the deposit is not paid.
16 May 2019capital raising announcement▼ Bad
Saujana E&P asked for, and got, a third extension of the deposit date, now to 31 May 2019. The deposit has still not been paid.
3 May 2019capital raising announcement▼ Bad
Saujana E&P again delayed the deposit, now to 14 May 2019, and pushed its due diligence deadline to 30 June 2019. NuEnergy agreed to both. This is the second deposit delay and adds to doubts over the $38.5m placement.
24 Apr 2019capital raising announcement▼ Bad
Saujana E&P asked for more time on the $7.0m deposit, and NuEnergy gave 7 more business days, to 3 May 2019. This is the first delay in the investment agreement announced on 2 April.
2 Apr 2019capital raising announcement▲ GoodMajor
NuEnergy signed a binding agreement with Malaysia's Saujana E&P for a placement of 1,540,832,050 shares at 2.5c, raising $38.5m for a controlling 51%. A $7.0m deposit is due within 14 business days. Shareholder, due diligence and regulatory approvals are needed, and Saujana gets board control on completion. This addresses the funding thread.
What it means for a shareholder
1.54bn new shares at A$0.025 to raise about A$38.5m. That's 51% dilution: every existing holder's slice gets 51% smaller. If you held A$1,000 of shares (40,000 at the issue price), your slice goes from 0.0027% to 0.00132% of the company. To keep it you'd need 41,617 more shares - about A$1,040 at the issue price.
Create a free account to see this worked out for your own holding.
15 Mar 2019half year report● Neutral
Half-year report to 31 December 2018. The visible text says the Tanjung Enim POD has local government and community support and is being optimised, with approval hoped for in the first half of 2019. Financial figures are not in the text provided.
11 Feb 2019material agreement▲ GoodMajor
NuEnergy signed the Muralim Gross Split PSC with the Indonesian energy ministry, replacing the cost-recovery contract. The company says this should improve project economics and cut bureaucracy. The 100% interest remains subject to government approval.
23 Jan 2019farm in farm out agreement▲ GoodMajor
NuEnergy agreed with Medco to take over Medco's 50% of the Muralim PSC, lifting its interest from 50% to 100%, subject to government approval. It is at no cost apart from Medco settling its unpaid cash calls.
15 Nov 2018investor presentation● Neutral
AGM presentation giving a general company overview: six Indonesian PSCs over 3,600 km2, paid-up capital A$55 million, and Globaltec and New Century holding about 65%. Repeats known information; no new results or figures in the visible text.
17 Oct 2018material agreement termination▼ BadMajor
The MOU with EPI Energy over a stake in Dart Energy (Indonesia) Holdings was terminated because the parties could not agree commercial terms. This removes the funding route flagged on 30 August.
28 Sept 2018annual report▼ BadMajor
FY2018 annual report: net loss $12.5m (2017: $4.6m), including a full $11.4m Rengat impairment. Cash fell to $1.37m from $7.45m and net assets to $38.6m. No dividend is likely.
28 Sept 2018admin correction● Neutral
Appendix 4G corporate governance checklist lodged with the annual report, pointing to the governance statement on the company website. Administrative filing with no new operational or financial information.
30 Aug 2018material agreement● NeutralMajor
NuEnergy signed a non-binding MOU with Hong Kong-listed EPI Energy, which is interested in buying a percentage of subsidiary Dart Energy (Indonesia) Holdings, holder of Tanjung Enim, Muralim and Bontang Bengalon. Talks are early; no terms are given.
7 Aug 2018listing compliance notice▼ BadMajor
Replying to an ASX query, NuEnergy said it expects negative cash flow until gas revenue and is in talks with third parties about funding. ASX noted cash of $1.37m and expected outflows of $0.8m next quarter. No funding is yet agreed.
30 Apr 2018regulatory community update▲ GoodMajor
NuEnergy submitted the first Tanjung Enim Plan of Development, described as Indonesia's first coal bed methane POD. It plans 209 wells, a new 24 km pipeline and 25 MMSCFD plateau for 10 years, with ministry approval still needed. Ends the slipped submission thread.
17 Apr 2018regulatory community update▲ Good
SKK Migas granted a four-year extension of the Muralim exploration period to 2 December 2020. This resolves the extension that had been awaited since March 2017 and keeps the 50% permit alive.
15 Mar 2018half year report● Neutral
Half-year report to 31 December 2017. The visible text recaps Tanjung Enim POD preparation, the Pertamina Gas MOU and the January 2018 LEMIGAS certification. Financial figures are not in the text provided, so no result is stated here.
6 Mar 2018regulatory community update▲ Good
SKK Migas granted a four-year extension of the Muara Enim II exploration period to 31 March 2021. This resolves the extension pending since the period expired on 31 March 2017, keeping the 30% interest permit alive.
19 Jan 2018admin correction● Neutral
Clarification of the LEMIGAS certification: it is a compulsory step for POD submission, based on 17 existing wells with no new drilling. NuEnergy's share is about 38.7 Bscf proved and 35.5 Bscf probable; figures are not net of inert gases and fuel.
15 Jan 2018resource reserve update▲ GoodMajor
Indonesian government agency LEMIGAS certified about 165 Bscf of gross reserves (86.05 proved, 78.84 probable) over 33 km2 of Tanjung Enim, versus the 0.12 Bscf pilot reserves of 2017. Company says it could supply about 25 MMSCFD from over 200 wells once the POD is approved.
6 Dec 2017admin correction● Neutral
Clarification adding methodology and evaluator detail to the February 2017 Tanjung Enim pilot reserves statement in the annual report. The reserves are RPS-certified and based on the Shalindo MOU volumes. No change to the reserve figures.
30 Nov 2017asset acquisition disposition▼ BadMajor
NuEnergy finished two exploratory wells to meet the Rengat permit commitment, without attractive commercial discoveries, and agreed with SKK Migas to relinquish it once completion is confirmed. Carrying value is $10.1m; the company says there is no operational impact. Focus shifts to its four South Sumatra permits.
15 Nov 2017investor presentation● Neutral
AGM presentation recapping the six permits (over 3,600 km2), leadership team, partners and the Globaltec and New Century holdings of about 65%. The text provided shows no new results.
29 Sept 2017annual report● Neutral
FY2017 annual report: net loss $4.59m (2016: $2.36m), driven by a $3.12m impairment of the Rengat permit. Cash rose to $7.45m from $2.85m after the rights issue; net assets $49.8m. No cash-generating assets, so no dividend is likely.
29 Sept 2017admin correction● Neutral
Appendix 4G corporate governance checklist lodged with the annual report, pointing to the company's governance statement on its website. Administrative filing with no new operational or financial information.
28 Sept 2017material agreement▲ GoodMajor
NuEnergy signed a non-binding MOU with PT Pertamina Gas, a subsidiary of its partner Pertamina, to evaluate supplying Tanjung Enim coal bed gas to Sumatra consumers. It is a step toward a gas sales agreement on volume, price and period; POD submission is still planned by end 2017.
14 Sept 2017director officer appointment● Neutral
Non-executive director Graeme Robertson, formerly chairman, resigned from the board citing increasing work commitments. The board now has five directors, led by chairman Kong Kok Keong.
13 Sept 2017investor presentation● Neutral
September 2017 corporate presentation recaps the six permits (over 3,600 km2), the leadership team and the Globaltec and New Century holdings of about 65%. It states paid-up capital of A$106m. The text provided shows no new results.
3 Aug 2017regulatory community update▲ GoodMajor
SKK Migas approved NuEnergy to prepare the initial Plan of Development for Tanjung Enim, with submission targeted before year end. Partners Pertamina and Bukit Asam have committed. This moves the permit from exploration to development planning; it is not yet a development approval.
6 June 2017regulatory community update● Neutral
Muara Enim II's required drilling is complete and the work completion report has been lodged with SKK Migas. This continues the extension process after the exploration period expired 31 March 2017; the extension itself is not yet confirmed.
