Each one in plain English, with the numbers worked through for a shareholder.
11 Dec 2015capital raising announcement● Neutral
Placement completed: 184.5m shares at 0.4c raising $738,000 before costs, less than the up to $1.2m flagged on 4 December. Routine section 708A compliance notice.
What it means for a shareholder
185m new shares at A$0.004 to raise about A$738,000. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
Create a free account to see this worked out for your own holding.
11 Dec 2015capital raising announcement● Neutral
Listing rule disclosure on the placement: $738,000 raised, shares on issue rise from 1,151m to 1,335m. Hartleys paid a 6% commission. No underwriting. Share purchase plan still depends on an ASX waiver.
4 Dec 2015capital raising announcement● NeutralMajor
PCL raises up to $1.2m via a placement of up to 300m shares at 0.4c, plus a planned $1m share purchase plan at the same price. Directors to subscribe $500k, subject to approval. Funds cover Namibia sale costs and about $400k owed to BG Group. First raising since 2012's $45m.
30 Nov 2015other● Neutral
Chairman's AGM address: Namibia best four prospects over 900 million barrels, about 260 million net to PCL. Tullow is negotiating with a farminee and PCL is seeking to sell part of its interest for cash; Board reviewing capital options. Chairman expects Tullow to drill.
30 Nov 2015investor presentation● Neutral
AGM presentation of 30 November 2015, with disclaimers and prospective resource statements as at 28 September 2015. Repeats the known Namibia and Kenya L6 portfolio; truncated text shows nothing new.
30 Oct 2015annual report● Neutral
2015 annual report: Chairman says the company is focused on its free-carried Namibia EL 0037 (30%) and Kenya L6 after releasing the Australian and Kenyan L10 blocks. Considering options to maintain cash; Tullow drilling commitment could come March 2016. No new figures in readable text.
30 Oct 2015other● Neutral
Appendix 4G corporate governance checklist lodged with the annual report for the year to 30 June 2015. Administrative filing with no operational or financial substance.
30 Sept 2015annual report● Neutral
Full-year statutory accounts to 30 June 2015. Readable portion lists the directors, auditor Rothsay and director shareholdings (Kennedy 141m shares). No financial figures are visible in the text shown.
28 Sept 2015resource reserve update● NeutralMajor
Namibia PEL 37 four prospects total 915 million barrels best-estimate prospective resource (100% basis); Albatross 349 million. PCL is considering selling part of its 30% to strengthen its balance sheet and fund new ventures. Tullow's drilling option runs to 31 March 2016.
31 Aug 2015investor presentation● Neutral
August 2015 conference presentation: share price 0.4c, market cap $4.6m. Repeats the portfolio of Namibia EL 0037 (30%) and Kenya L6, with no new information visible.
12 June 2015farm in farm out agreement● NeutralMajor
PCL agreed to extend Tullow's 'drill or withdraw' decision on Namibia EL 0037 from 11 August 2015 to 31 March 2016. Tullow has spent about US$34m; PCL stays 30% free-carried. If Tullow does not drill, its 65% reverts to PCL.
1 June 2015asset acquisition disposition▼ BadMajor
PCL and PTTEP gave notice of withdrawal from Kenya L10A, the Sunbird oil discovery block; PCL's 18.75% passes to operator BG, subject to ministerial consent. PCL cites the project's cost and benefit profile. Leaves Namibia EL0037 and Kenya L6 as remaining assets.
8 Apr 2015asset acquisition disposition▼ BadMajor
PCL served notice withdrawing from Kenya L10B, where it held 25% and BG 75%, citing prudent financial management. It says its 18.75% in neighbouring L10A gives enough exposure. Ends the L10B farmout effort noted earlier.
16 Mar 2015half year report● Neutral
Half-year to 31 December 2014: revenue $193,480, expenses $351,673, loss $158,193. Operations text repeats known Kenya and Namibia positions, including a 12-month L10B work commitment extension and the awaited Anadarko Mlima well nearby.
10 Mar 2015investor presentation● Neutral
March 2015 Africa Oil & Gas Forum presentation repeats the Kenya and Namibia story: Sunbird oil discovery, Namibia mapping under Tullow, L6 onshore seismic and drilling now flagged for Q4 2015. Nothing new.
23 Feb 2015asset acquisition disposition● NeutralMajor
Key Petroleum is buying PCL's and FAR's Canning Basin interests in EP104, R1 and L15 (PCL had 19.59% EP104, 11.11% R1, 12% L15). PCL and FAR each pay Key $50,000 to take over obligations. Exits older Australian assets; subject to regulator approval.
28 Nov 2014investor presentation● Neutral
AGM presentation repeats the Kenya and Namibia story. Share price 2.7c, market cap $31m, cash $9.1m, no debt. Says one onshore and up to four offshore wells are possible in 2015-16. Nothing new.
28 Nov 2014security holder rights change● Neutral
2,250,000 unlisted options exercisable at 12.25c, approved at the 2011 AGM, expired. 2,750,000 options exercisable at 12.3c remain on issue until 29 November 2016. Administrative; no cash or dilution impact since the options were far out of the money.
28 Nov 2014other● Neutral
AGM chairman's address repeats known positions. It expects BG to propose one or two oil-prospect wells in early 2015, and Tullow to free-carry one Namibia well of about $100m. Reserves are about $8.5m. No new results.
31 Oct 2014investor presentation● Neutral
October 2014 presentation: 4.5c share price, $51.8m market cap, $9.1m cash. Describes Sunbird as sub-commercial at that location, and up to three Kenya wells possible 2015/16. Mostly repeats known facts.
28 Oct 2014annual report● Neutral
2014 annual report repeats known positions: Tullow 65% and PCL 30% free-carried in Namibia, Albatross 422 million barrels, and the Sunbird oil discovery. Full mapping expected by end of 2014 calendar year. No new results visible.
3 Oct 2014price query● Neutral
PCL answers an ASX query on a rise from 3.4c to an intraday 4.4c. It says it knows of no undisclosed information, citing high farmout interest in L10A/B after Sunbird and the Namibia Albatross prospect. It confirms listing-rule compliance.
30 Sept 2014annual report● Neutral
Full-year statutory accounts to 30 June 2014. The readable portion lists directors, auditor Rothsay and director shareholdings (Kennedy 141m shares). No financial figures are visible in the text shown.
23 July 2014resource reserve update▲ GoodMajor
Early Namibia EL 0037 mapping identifies four prospects; Albatross (about 300 sq km) is estimated at 422 million barrels gross unrisked mean, 17% chance of success. Other prospects exceed 150 million barrels risked. Estimates are undiscovered and may change; final mapping due October 2014. PCL stays 30% free-carried.
17 June 2014drilling result▲ GoodMajor
After lengthy analysis, PCL says Sunbird-1 (L10A, PCL 18.75%) found a 14m gross oil column beneath a 29.6m gas column, claimed as the first oil offshore East Africa. Updates April's gas-and-liquid, unlikely-commercial result; BG is still to recommend follow-up.
10 June 2014admin correction● Neutral
Cover letter responding to an ASX query on the Africa conference presentation: disclosure statements are now shown on the same page as the resource estimates. Then re-attaches the June presentation. No new company information.
5 June 2014investor presentation● Neutral
June 2014 Africa conference presentation: share price 2.5c, market cap $28.7m, cash $24.3m at 31 March. Describes Sunbird as an oil and gas discovery that is sub-commercial at that location, with L10B at 20%. Expects two free-carried wells from early 2015.
16 May 2014asset acquisition disposition▲ GoodMajor
Kenya granted a 12-month extension to the L10B exploration period. PCL will lift its L10B stake from 15% to 20% by taking Premier Oil's share as it withdraws, pending ministry approval. PCL aims to farm out L10 drilling. BG says Sunbird found oil as well as gas.
28 Apr 2014drilling progress report▲ Good
The roughly 1,000 km 2D seismic survey in Namibia EL 0037 is complete, following the 3D survey. PCL stays 30% free-carried. Fast-track 3D data are expected in about 10 weeks. Neighbouring-block drilling is imminent, and other majors have entered Namibia.
17 Apr 2014investor presentation● Neutral
CEO conference presentation in Namibia, summarising Kenya and Namibia holdings including the Mbawa and Sunbird discoveries. Text shown is mostly disclaimers and background; no new results or figures visible.
