Past year: ▼ 50%(0.30c – 1.90c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
4 Dec 2009drilling scheduled● Neutral
Cornea-3 is planned to spud around 14 December 2009 once the Songa Venus rig is handed over about 8 December. Octanex holds an 8% interest in WA-342-P and calls it a low-risk appraisal of a known oil accumulation.
24 Nov 2009investor presentation● Neutral
AGM presentation repeating known facts: about $30m cash, no debt, listed investments over $14m, and a strategy of low-obligation permits and farm-outs. Albers Group holds 61.9% of 177.4m shares.
19 Nov 2009regulatory community update▲ GoodMajor
Octanex's NZ subsidiary won offshore Taranaki permit PEP 51906 (1,613 km²), next to the Maui, Tui and Maari/Manaia fields. Work programme: reprocess 1,500 km of seismic; commit to seismic or relinquish within 18 months, and to a well within 42 months.
5 Nov 2009other▲ GoodMajor
Octanex was admitted to the ASX Official List on 4 November 2009, with 177,428,104 shares and 32,901,372 options (exercisable at $0.25 by 31 Dec 2010) to be quoted from 6 November.
5 Nov 2009other▲ Good
Octanex confirms ASX trading starts 6 November 2009 under OXX and OXXO. It leaves the NSX, where it was listed almost six years, citing a larger and more active market.
5 Nov 2009other● Neutral
Pre-quotation disclosure detailing top holders, share distribution and option terms. Listed options are $0.25 expiring 31 Dec 2010; 3,750,000 unlisted options are held by Upstream Consulting, linked to director James Willis.
5 Nov 2009annual report● Neutral
2007 annual report, re-released at ASX listing. Describes Carnarvon Basin permits, a farm-out of WA-362-P and WA-363-P with a free carry through the first two wells, and a possible merger with Strata and Gascorp.
5 Nov 2009other● Neutral
ASX circular confirming quotation of OXX shares and OXXO options starts 11:00am on 6 November 2009. Lists 177,428,104 shares, issue price 30 cents, activity as oil and gas exploration. Repeats the listing notice.
5 Nov 2009other● Neutral
Pre-quotation disclosure cover notice listing the documents released ahead of ASX quotation (listing application, audited accounts, shareholder and option information). No new substance itself.
5 Nov 2009annual report● Neutral
2008 annual report, re-released at ASX listing. Farmed down WA-362-P/363-P to OMV and ENI, took back WA-322-P and WA-329-P, and agreed a US$9.75m Winchester survey deal with Geokinetics, US$2.5m already paid.
5 Nov 2009annual report● Neutral
2009 annual report, re-released at ASX listing. Reports the merger with Strata and Exmouth Exploration, new funds raised, a New Zealand permit application, and Winchester 3D data needing reprocessing. OMV/ENI drilling election due 31 December 2009.
4 Nov 2009other● Neutral
Company constitution lodged, the rulebook covering shares, meetings, directors and dividends. No new commercial information or figures.
15 Oct 2009capital raising announcement● NeutralMajor
Prospectus for a placement of up to 1,000,000 shares at $0.30 to raise up to $300,000, issued mainly to qualify Octanex for admission to the ASX Official List. Not underwritten, no minimum subscription.
What it means for a shareholder
1.0m new shares at A$0.300 to raise about A$300,000. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
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