Each one in plain English, with the numbers worked through for a shareholder.
30 Apr 2025quarterly activities report▲ Good
March 2025 quarter: after Woodside's exit, PCL reports strong farm-out interest from supermajors, large independents and national oil companies, and has started an environmental impact assessment for drilling approval. Basin modelling indicates about 20 billion barrels expelled. Cash A$3.1m.
18 Mar 2025resource reserve update▲ GoodMajor
PCL's first prospective resource estimate for PEL 87: High Case 3.8 billion barrels of oil net to PCL (12.7 billion barrels oil-in-place), across Oryx and Hyrax prospects plus six further leads. Unrisked, undrilled estimates; a farm-out is underway to fund drilling.
18 Mar 2025farm in farm out completion▼ BadMajor
Woodside has elected not to exercise its option over PEL 87, ahead of the 18 May 2025 long stop date. This resolves the open option thread negatively. PCL keeps 75% and says a farm-out process for a new drilling partner is underway, with third-party interest.
13 Mar 2025half year report● Neutral
Half-year report to 31 December 2024. Permit schedule shows PCL 75% of PEL 87 under Woodside's option, and 20% and 25% earning in the Cooper Basin ATP 920 and ATP 924-Ace. Board and auditor unchanged. Text is truncated, so financials are not visible.
31 Jan 2025quarterly activities report● Neutral
December 2024 quarter Appendix 5B: operating outflow A$234k and exploration spend A$209k. Cash fell to A$3,610k from A$3,876k, with no debt and no financing inflows. Estimated funding is 8 quarters at this burn.
31 Jan 2025quarterly activities report▲ Good
December 2024 quarter: new geological modelling supports reservoir sands in the Saturn leads, and PCL now focuses on two leads, Oryx and Hyrax, covering up to 1,385 sq km. Woodside's option long stop is 18 May 2025. Cash A$3.6m.
8 Jan 2025security holder rights change● Neutral
Administrative notice that shares were issued on conversion of PCLO listed options. No number or price is given in the text.
29 Nov 2024investor presentation● Neutral
AGM presentation repeating known facts: PCL holds 75% of PEL 87 with Woodside's option pending, cash A$3.9m, and interpretation of the Woodside-funded 3D data is advanced but not complete enough to give resource guidance. No new result.
21 Nov 2024farm in farm out completion▲ GoodMajor
The Seismic Licence has been approved by Namibian authorities and delivered to Woodside, setting the long stop date for its option over 56% of PEL 87 at 18 May 2025. This resolves the open licence thread; Woodside's decision is now due by that date.
31 Oct 2024quarterly activities report● Neutral
September 2024 quarter Appendix 5B: operating outflow A$292k and exploration spend A$126k. Cash fell to A$3,876k from A$4,301k, with no debt and no financing inflows. Estimated funding is 9 quarters at this burn.
31 Oct 2024quarterly activities report● Neutral
September 2024 quarter: PEL 87 interpretation is nearing completion, with Type II AVO anomalies in Albian intra-Saturn leads. Basin modelling indicates Saturn sits above a mature Kudu Shale source kitchen. Seismic Licence talks are set for mid-November; cash is A$3.9m.
29 Oct 2024other● Neutral
Appendix 4G governance checklist lodged with the annual report, pointing to the corporate governance statement. Administrative, with no new information.
29 Oct 2024annual report● Neutral
2024 Annual Report. Chairman says the Seismic Licence is still being sought, starting Woodside's 180-day clock, and notes the death of former chairman David Kennedy in September 2024. Mopane and Mangetti results are described as encouraging. Text is truncated.
30 Sept 2024annual report● Neutral
Full-year statutory accounts to 30 June 2024. PCL holds 75% of PEL 87 under Woodside's option, with Cooper Basin interests of 20% in ATP 920 and 25% in ATP 924-Ace. Directors and auditor unchanged. Text is truncated, so financials are not visible.
13 Aug 2024security holder rights change● Neutral
Appendix 3G for 50m unlisted options issued to Salient Corporate Pty Ltd, exercisable at 3.5 cents and expiring 12 August 2028. The text does not state why they were issued.
5 Aug 2024investor presentation● Neutral
Notice of an investor Q&A session on 8 August 2024 with CEO Iain Smith on Orange Basin operations. Administrative, with no new information.
24 July 2024quarterly activities report● Neutral
June 2024 quarter Appendix 5B: operating outflow A$317k and exploration spend A$244k. Cash was A$4,301k, with no debt, after A$602k from option exercises. Estimated funding is 8 quarters at this burn.
24 July 2024quarterly activities report● Neutral
June 2024 quarter: seismic interpretation continues, focused on intra-Saturn AVO anomalies and a Barremian/Aptian fan play seen as a possible analogue to TotalEnergies' Venus. An independent AVO study began in July. Seismic Licence still being finalised; cash A$4.3m, helped by option exercises.
23 July 2024price query● Neutral
ASX queried a price move (high 1.8c to low 1.4c) and heavy volume. PCL said it knew of no undisclosed information, pointing to the lengthy seismic analysis and the pending Seismic Licence that sets Woodside's option long stop date. Confirms no new result.
28 June 2024security holder rights change● Neutral
Administrative notice that shares were issued on conversion of PCLO listed options. No number or price is given in the text.
18 June 2024security holder rights change● Neutral
Administrative notice that shares were issued on conversion of unlisted options. No number or price is given in the text.
7 May 2024security holder rights change● Neutral
Administrative notice that shares were issued on conversion of PCLO listed options. No number or price is given in the text.
30 Apr 2024quarterly activities report● Neutral
March 2024 quarter Appendix 5B: operating outflow A$206k and exploration spend A$173k. Cash fell to A$4,266k from A$4,555k, with no debt; option exercises brought in A$87k. Estimated funding is 11 quarters at this burn.
30 Apr 2024quarterly activities report▲ Good
March 2024 quarter: interpretation of the 6,593 sq km survey is under way, with early work finding varied Cretaceous play concepts and leads showing apparent AVO effects. Final data arrived mid-April. Woodside's 180-day deadline starts once the seismic licence is approved. Mopane-1X flowed 14,000 bopd.
20 Mar 2024investor presentation● Neutral
Webinar presentation on PEL 87 and the Orange Basin. Notes final seismic data in-house and early signs of hydrocarbon plays beyond Saturn. Covers Galp's Mopane-1X and Mopane-2X discoveries and Shell, TotalEnergies and Chevron activity. No new PCL result; text is truncated.
18 Mar 2024security holder rights change● Neutral
Appendix 3G lodged for the 40m unquoted options granted to CEO Iain Smith, as announced on 14 February. Exercise price is 3.5 cents, expiring 18 March 2028, with half vesting immediately and half on 18 September 2024.
15 Mar 2024half year report● Neutral
Half-year to 31 December 2023 shows a loss of A$1,494,081 against A$984,870 a year earlier. PCL holds 75% of PEL 87 under Woodside's option. Rushworth is now non-executive, and the auditor is renamed In.Corp. Text is truncated.
12 Mar 2024other● Neutral
Notice of an investor webinar on 20 March 2024 with the incoming CEO, covering Orange Basin activity and PEL 87 interpretation status. Administrative, with no new information.
1 Mar 2024other● Neutral
Administrative notice that the share registry changes from Advanced Share Registry to Automic from 4 March 2024. No effect on holdings.
14 Feb 2024director officer appointment● NeutralMajor
Iain Smith, board adviser since May 2023, becomes CEO from 18 March 2024 on A$200,000 a year plus 40m options at 3.5 cents. Barry Rushworth moves to non-executive director. Smith was previously managing director of Norwest Energy.
