Each one in plain English, with the numbers worked through for a shareholder.
31 Jan 2024quarterly activities report● Neutral
December 2023 quarter repeats the PEL 87 extension approval and receipt of final depth-migrated seismic. Interpretation will take some months. Woodside's option deadline will be 180 days from a final data delivery (about two months away) and a seismic licence to Woodside. Notes Mopane-1X, Venus and Jonker activity nearby.
31 Jan 2024quarterly activities report● Neutral
December 2023 quarter Appendix 5B: operating outflow A$268k and exploration spend A$89k. Cash fell to A$4,555k from A$4,938k, with no debt. Estimated funding is 13 quarters at this burn.
30 Jan 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.
19 Jan 2024regulatory community update▲ GoodMajor
Namibia's minister approved PEL 87's extension to 22 January 2026 and waived relinquishment, keeping the full 10,970 sq km. Final depth-migrated seismic received; Galp's Mopane-1X oil find to the south is called positive. Woodside's option deadline is delayed by a pending data delivery.
29 Nov 2023other● Neutral
Administrative notice that a recording of the 28 November investor webinar is available online. No new information.
27 Nov 2023investor presentation● Neutral
AGM presentation repeating known facts: the PEL 87 extension application, Woodside's option over 56% with PCL at 20% carried, the 6,600 sq km survey and the A$5m placement. Text is truncated; no new results are visible.
20 Nov 2023other● Neutral
Notice of an investor webinar on 28 November 2023, based on the corporate presentation to be given at the 27 November AGM. Administrative, with no new information.
13 Nov 2023investor presentation● Neutral
Ord Minnett Mining Club presentation restating the PEL 87 story and Woodside's option over 56%. Shows 8.06bn shares, cash A$4.9m with no debt, and a share price of A$0.014 (market cap A$113m). No new results.
30 Oct 2023quarterly activities report● Neutral
September 2023 Appendix 5B: operating outflow A$315k and exploration spend A$85k. Cash fell to A$4,938k from A$5,301k, with no debt and about 12 quarters of funding on this burn.
30 Oct 2023quarterly activities report● Neutral
September 2023 quarter repeats the fast-track seismic data and the PEL 87 extension application announced 26 October. It adds neighbour activity: Galp's first PEL 83 well is scheduled to spud mid-November 2023. No new PCL result.
27 Oct 2023annual report● Neutral
2023 Annual Report calls the year transformational, citing the Woodside option, 6,593 sq km survey and A$5m raising. It repeats known facts, with PEL 87 at 75% and Woodside's option over 56%. Cooper Basin interests remain.
27 Oct 2023annual report● Neutral
Appendix 4G corporate governance key accompanying the annual report, dated 27 October 2023. Administrative, with no new operational or financial information.
26 Oct 2023regulatory community update▲ GoodMajor
PCL applied to enter PEL 87's first additional exploration period (23 Jan 2024 to 22 Jan 2026), with a commitment to drill one well or acquire more seismic. Early depth-migrated data suggests mature Kudu Shale oil source beneath Saturn; full interpretation awaits final data.
29 Sept 2023annual report● Neutral
Statutory accounts for year to 30 June 2023 show a loss of $1,870,559, against $823,179 the prior year. Directors are Myers, Rushworth and Petrovic, with Kennedy retired December 2022. Text is truncated.
5 Sept 2023investor presentation● Neutral
Euroz Hartleys Energy Forum presentation restating the PEL 87 and Woodside option story. Shows 8.06bn shares, 840m options, cash A$5.3m with no debt, and share price A$0.018 (market cap A$145m). No new results.
24 Aug 2023security holder rights change● Neutral
Further shares and listed options issued under the 25 July meeting approvals. The offer under the 19 May 2023 prospectus is now closed, finishing the May placement's option issue.
22 Aug 2023security 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.
8 Aug 2023security holder rights change● Neutral
Appendices lodged for shares and listed options issued after the 25 July general meeting approval. It carries no new figures; it completes the issue tied to the May placement and director participation.
31 July 2023quarterly activities report▲ Good
June 2023 quarter Appendix 5B: operating outflow A$176k and exploration spend A$294k. The A$5m placement (net A$4.675m after costs) lifted cash to A$5,301k from A$1,096k, with no debt. Funding is shown at 11 quarters.
31 July 2023quarterly activities report▲ Good
June 2023 quarter: the Woodside-funded 6,593 sq km PEL 87 survey finished and went to processor CGG, with fast-track results due late August. Woodside then has up to 180 days after final data to exercise its option over 56%. Cash A$5.3m after the A$5m raising.
28 July 2023security holder rights change● Neutral
Following shareholder approval at the 25 July meeting, 40m options went to Chairman Myers and 20m to director Petrovic. Exercise price is $0.0145, expiry 28 July 2027, with 3 months' vesting. This completes the director options flagged in May.
25 July 2023investor presentation● Neutral
General Meeting presentation, 25 July 2023, restating the Namibia Orange Basin and Saturn story. Shows 8.05bn shares, 780m options, cash of A$5.2m at 30 June 2023 and market capitalisation of A$121m. No new announcements visible in the truncated text.
31 May 2023regulatory community update● Neutral
Pancontinental responded to a Bloomberg report that Namibia's mines minister wants the state to hold free equity in petroleum production. PCL says it has been told of no regulation change affecting PEL 87, where NAMCOR already holds a 10% carried interest, and is monitoring.
30 May 2023security holder rights change● Neutral
Unquoted incentive options granted: 40m to the board adviser, 20m to an employee and 10m to a contractor. Exercise price is $0.016, expiry 29 May 2027, and they vest after 3 months' continued service. This follows Iain Smith's appointment as adviser.
26 May 2023drilling result▲ GoodMajor
The PEL 87 3D survey finished a few days early at 6,593 sq km, of which 5,952 sq km lies inside PEL 87, covering the core Saturn complex. Fast-track results are expected by late August; Woodside's option decision awaits interpretation.
19 May 2023capital raising announcement● Neutral
Option prospectus for the free attaching options from the May placement: up to 250m to unrelated investors and 2m to directors, conditional on shareholder approval. No funds are raised. It exists so shares from option exercise can be on-sold freely.
15 May 2023capital raising announcement▲ GoodMajor
Raising up to A$5m by placing 500m shares at $0.01 (9.1% discount), with one free option per two shares exercisable at $0.012 by 8 August 2025. Euroz Hartleys is lead manager at 6%. Iain Smith joins as board adviser; Woodside has enlarged the survey to 7,200 sq km.
What it means for a shareholder
500m new shares at A$0.010 to raise about A$5.0m. 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.
28 Apr 2023quarterly activities report▲ Good
March 2023 quarter: the Woodside option is detailed, with the survey enlarged to about 6,872 sq km at no change in terms. Over 50% acquired; fast-track results by late August. The US$1.5m from Woodside and US$1.5m to Custos were both settled in the quarter.
28 Apr 2023quarterly activities report▼ Bad
Appendix 5B for March 2023 quarter: operating outflow A$260k and exploration spend A$199k. Cash fell to A$1,096k from A$1,556k, giving 2 quarters of funding. Woodside's A$2,217k reimbursement was offset by A$2,273k paid for the Custos option. No debt.
18 Apr 2023drilling progress report▲ Good
The 6,872 sq km PEL 87 3D survey is over 50% acquired and on schedule to finish early June. Fast-track processed results are now expected before end August 2023, with full processing taking a few more months. No new result yet.
