Past year: ▼ 14%(2.30c – 4.50c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
12 May 2017capital raising announcement● Neutral
Shares from the entitlement offer were issued: 329,434,118 new shares, taking shares on issue to 1,480,955,497. Globaltec and New Century each now hold 32.33%, up from 27.7%, which is consistent with them taking up their entitlements.
10 May 2017capital raising announcement● NeutralMajor
The entitlement offer closed with acceptances for 329.4m of the 575m new shares at 3.5c, leaving a shortfall of 246.3m shares. The shortfall offer stays open to 5 June 2017, so the full $20m looks unlikely to be reached from entitlements alone.
What it means for a shareholder
575m new shares at A$0.035 to raise about A$20.0m. That's 33% dilution: every existing holder's slice gets 33% smaller. If you held A$1,000 of shares (28,571 at the issue price), your slice goes from 0.00248% to 0.00165% of the company. To keep it you'd need 14,267 more shares - about A$499 at the issue price.
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26 Apr 2017admin correction● Neutral
Notice that the Offer Document and personalised acceptance forms were posted to shareholders for the entitlement offer. It repeats the offer terms already announced and adds no new information.
21 Apr 2017admin correction● Neutral
Registry provider Link Group announced a new Perth address for shareholder enquiries from 24 April 2017, applying to many listed clients including NuEnergy. Administrative, with no impact on the company's business.
18 Apr 2017admin correction● Neutral
Notice that shareholder letters were mailed for the entitlement offer. It sets the offer at 575 million new shares, not underwritten, with shareholders outside Australia and New Zealand ineligible. Their rights are sold by a nominee.
13 Apr 2017capital raising announcement● NeutralMajor
NuEnergy launched a renounceable 1-for-2 entitlement offer at 3.5c to raise up to $20m, the company's largest raise since Dec 2015's $9.996m at 2.5c. Planned use: $2.0m for Tanjung Enim development plan preparation, $14.1m exploration and appraisal, $4.3m working capital.
13 Apr 2017capital raising announcement● Neutral
Offer Document for the 1-for-2 renounceable entitlement offer at $0.035, aiming at about $20m, closing 5 May 2017. It repeats the terms announced the same day; the text provided shows no new figures beyond that.
3 Apr 2017regulatory community update● Neutral
Muara Enim II's exploration period expired 31 March 2017. SKK Migas endorsed continuing the current drilling campaign, expected to finish by end of May 2017, after which NuEnergy will apply for an extension.
15 Mar 2017half year report● Neutral
Half-year report to 31 December 2016 recaps the Tanjung Enim reserves certification, the Shalindo gas MOU, Muralim drilling to 710 m and Muara Enim II wells spudding after period end. Shares on issue remain 1,151,521,379. Financial figures are not in the text provided.
2 Mar 2017regulatory community update● Neutral
Muralim's required work program is complete and the completion report was submitted to SKK Migas. The four-year extension of the exploration period, applied for in December, is still awaiting finalisation.
22 Feb 2017resource reserve update▲ GoodMajor
RPS certified NuEnergy's first reserves, for the Tanjung Enim pilot wells. The volumes are tiny (gross 2P about 0.64 Bscf), covering 0.8 km2, or 0.3% of the permit. An MOU with PT Shalindo Energi on gas sales had been signed in November 2016.
2 Dec 2016regulatory community update● Neutral
Muralim's six-year exploration period ended 2 December 2016. NuEnergy has applied to SKK Migas for the one-time four-year extension. Approval was not yet confirmed.
16 Nov 2016investor presentation● Neutral
AGM presentation recaps the six permits and existing resource estimates. Share price was A$0.035 with a market cap of about A$40m on 1,151m shares. Top holders are unchanged. No new results are visible.
29 Sept 2016annual report● Neutral
Annual report to 30 June 2016: loss of $2.36m, versus $26.4m the year before (which included impairment of exploration assets). Cash was $2.85m, down from $7.50m, and net assets $44.3m. The company has no revenue-generating assets and expects no dividend.
29 Sept 2016other● Neutral
Appendix 4G corporate governance statement lodged alongside the 2016 annual report, pointing to the company website. Administrative, with no new business information.
7 Apr 2016director officer appointment● Neutral
Kee Yong Wah, an executive director since January 2015, becomes Deputy Executive Chairman from 7 April 2016, based in Jakarta. He has over 30 years in oil and gas services, including Halliburton. Chairman Kong Kok Keong is not stated to change.
15 Mar 2016half year report● Neutral
Half-year report to 31 December 2015 recaps Dart completion, Tanjung Enim core wells and production test, and Rengat drilling. KPMG is listed as auditor and 1,151,521,379 shares are on issue. Financial figures are not in the text provided.
29 Jan 2016drilling result▲ GoodMajor
Rengat exploratory wells RE-03, RE-04 and RE-05 reached target depth. Further studies will map coal continuity. SKK Migas also extended the exploration period to 29 November 2019 for the 100%-owned permit, resolving the extension application.
29 Dec 2015capital raising announcement● Neutral
Shortfall shares allotted to underwriters, completing the entitlement offer. NGY now has 1,151,521,379 shares. Globaltec Energy Resources and New Century Energy Resources hold 27.72% each.
23 Dec 2015capital raising announcement▲ GoodMajor
Entitlement offer closed with acceptances for 246.8m new shares. The 153.1m shortfall will be taken up by the underwriters, so the offer raises $9,995,849 before costs, effectively fully subscribed.
9 Dec 2015other● Neutral
Notice that the offer document and entitlement forms were despatched to shareholders. Administrative, with the same terms as announced on 30 November.
3 Dec 2015regulatory community update▲ GoodMajor
SKK Migas granted the Muara Enim PSC a one-time four-year exploration extension to 29 November 2019. This keeps the permit (NGY 40%, operator) alive past its original six-year term.
1 Dec 2015other● Neutral
Notices mailed to eligible and ineligible shareholders about the entitlement offer. Holders outside Australia and New Zealand cannot take part. Administrative, repeating known terms.
30 Nov 2015capital raising announcement● Neutral
Offer document for the $10m entitlement offer at 2.5c (1 for 1.88), closing 18 December 2015. Repeats terms already announced, with risk factors and application details. No new substance.
30 Nov 2015investor presentation● Neutral
Investor presentation supporting the $10m entitlement offer. The visible text is only a cover letter and disclaimers, with no new information.
30 Nov 2015capital raising announcement● NeutralMajor
Partially underwritten entitlement offer to raise $10m at 2.5c, one new share for every 1.88 held, below the earlier 3c placements. Up to about 45% is underwritten by directors Kee and Goh and a Kong-controlled company. Funds target exploration and reserves certification.
27 Nov 2015regulatory community update● Neutral
Rengat PSC's six-year exploration period ended 29 November 2015. NGY has applied to SKK Migas for a one-time extension of up to four years; approval not yet granted at this date.
27 Nov 2015resource reserve update● NeutralMajor
Republished 2012 NSAI estimates for the acquired Dart PSCs, with no new work since. Tanjung Enim (45%) has 0.4 Tcf gas-in-place and contingent resources (2C 0.1 Tcf); Muralim (50%) has 1.4 Tcf gas-in-place and 0.7 Tcf best-estimate prospective. No estimates exist for Bontang-Bengalon or Bungamas.
25 Nov 2015investor presentation● Neutral
AGM presentation restating the Indonesian CBM portfolio, including the Dart PSCs, the Tanjung Enim production test and a pre-POD gas commercialisation strategy. It cites a combined 15 Tcf gas-in-place claim. Mostly repeats known facts.
23 Nov 2015asset acquisition disposition▲ GoodMajor
Dart Indonesia acquisition completed on 20 November 2015 after the final US$500,000 was paid, resolving the May 2015 conditional deal (US$1m total). Tanjung Enim exploration period extended four years to 3 August 2019. Resource estimates to be republished once NSAI consents.
