Past year: ▲ 800%(0.30c – 10.0c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
7 Nov 2016resource reserve update▲ GoodMajor
RISC confirms upgraded Leschenault prospective resources (unrisked, gross): Lesueur Sandstone up to 970 Bcf and Sue Sandstone up to 625 Bcf. Best cases are 435 and 290 Bcf. Chance of discovery is 5-10% per target. It lifts earlier company estimates (Sue 130, Lesueur 140 Bcf best).
6 Oct 2016farm in farm out completion● Neutral
Empire confirms the farm-out of EP416 and EP480 to Pilot is complete after the EP416 renewal. Pilot holds 60% for A$450,000 total, with the final A$150,000 now payable. Empire keeps 40%, free carried on non-field work to 31 August 2017.
29 July 2016farm in farm out agreement● Neutral
Key Petroleum, Pilot's EP437 partner, exercises its option to take 40% of WA-481-P on the same terms, paying a net profits interest on future production. Assignment still needs NOPTA approval and Pilot completing its own acquisition. Key is the source of this notice.
29 July 2016farm in farm out agreement▲ GoodMajor
Pilot confirms Key Petroleum has exercised its option for 40% of WA-481-P. Pilot would remain Operator with 60%. Assignment is subject to Pilot completing its acquisition and NOPTA approval. This resolves the open question of the Key option.
25 May 2016resource reserve update● NeutralMajor
Independent expert BDO calls the Tranche 2 placement 'not fair but reasonable'. It values a Pilot share at 0.38-0.88c after the deal, versus 0.63-1.47c before on a control basis. RISC values the exploration portfolio at A$12.8-29.96m.
20 Apr 2016farm in farm out completion▲ GoodMajor
WA regulator approves transfer of the 13.058% EP437 interest from Caracal to Pilot, completing the November 2015 acquisition. The joint venture will reprocess seismic over the Wye Not and Becos prospects to choose a drilling target.
3 Mar 2016resource reserve update▲ GoodMajor
Gaffney Cline independently assesses WA-503-P's three leads. Individual reservoir best cases range from 1.1 to 25.1 MMbbl gross, with chances of success of 15-24%. Confirms the company's earlier estimates for the permit. A 3D seismic survey is planned for 2016.
23 Feb 2016drilling result▲ Good
Airborne gravity survey over EP416/480 supports the large Leschenault gas prospect, with prospective resources up to 600 Bcf (company estimate, unrisked). Not a drilled result. The joint venture is still deciding the work program needed to reach drilling.
10 Feb 2016farm in farm out completion▲ GoodMajor
WA regulator approves transfer of title and operatorship of EP416/480 to Pilot, which now holds 60% and operates, with Empire on 40%. Completes the farm-in signed 2 Sept 2015. Pilot is still interpreting the airborne survey.
20 Oct 2015resource reserve update▲ GoodMajor
Gaffney Cline estimates WA-507-P prospective oil: best cases of 764, 381 and 436 MMbbl across three leads, with Dalia Updip up to 1,743 MMbbl in the high case. GCA sees a 70% chance of gas versus 30% oil, and chances of success of 16-18%. Adds an oil case to the earlier gas estimates.
2 Sept 2015farm in farm out agreement▲ GoodMajor
Pilot agrees to earn 60% and operatorship of onshore Perth Basin permits EP416 and EP480 from Empire, paying $150,000 now and $300,000 later, plus Empire's non-seismic, non-drilling costs for 24 months. Company-estimated best-case gas is 130 Bcf (Sue) and 140 Bcf (Lesueur). This is the promised onshore acquisition.
1 Sept 2015farm in farm out agreement● Neutral
Empire Oil & Gas announces that Pilot will earn 60% of South Perth Basin permits EP 416 and EP 480 and become operator. Pilot pays $450,000 in two instalments; Empire keeps 40% and is free-carried for two years. Pilot's own announcement follows the next day.
12 June 2015farm in farm out completion▲ Good
NOPTA approves transfer of an 80% operated interest in WA-503-P to Rampart; Black Swan holds 20%. Completes the acquisition announced on 30 March 2015.
25 Feb 2015resource reserve update▲ GoodMajor
Gaffney Cline estimates WA-507-P gross prospective gas across three leads at best cases of 4.7, 2.4 and 2.9 Tcf, with up to about 21 Tcf summing the high cases. Chance of success is 16-18% per lead. Unrisked, and dependent on drilling success.
19 Feb 2015farm in farm out completion▲ GoodMajor
NOPTA has approved the transfer of the 80% operated interest in WA-507-P to Rampart; Black Swan holds the other 20%. Completes the acquisition announced on 18 November 2014.
26 June 2014resource reserve update▲ GoodMajor
NSAI assesses two Big Bend prospects at 17.8 to 325.3 million barrels of oil in place gross (best 77.5m); Rampart's 30% share is 5.3 to 97.6m. Rosetta is the lead drilling candidate. Unrisked prospective figures, dependent on a discovery.
22 May 2014drilling result▲ GoodMajor
Preliminary reading of the Big Bend 3D seismic shows a large conventional oil-prone target of up to 20,000 acres, with apparent hydrocarbon indicators. Key drilling permits are submitted for two wells in January 2015. No resource figure yet.
5 May 2014resource reserve update▲ GoodMajor
Independent assessor NSAI puts unrisked unconventional shale gas prospective resources on the Alaska acreage at 2.4 to 42.5 trillion cubic feet in place, best case 12.45 TcF. Recoverable gas is 80 to 2,079 bcf gross, best case 519 bcf. Adds gas to the earlier shale oil estimate; conventional work still to come.
16 Apr 2014drilling progress report▲ Good
Seismic processing is well underway, and early results show excellent data quality over most of the survey area, with key intervals clearly visible. Interpretation is still to come, so no drilling target or resource change yet.
7 Mar 2014drilling result▲ GoodMajor
The Big Bend 3D seismic survey was completed on time and within budget, with processing to take 6 to 12 weeks. The release said the Western Block interest would rise to 35% after the program, and that no interpreted results were available yet.
11 Feb 2014drilling progress report▲ Good
The Big Bend 3D seismic survey is set to start recording this week, with the crew mobilised and about four weeks planned. Completion would lift Rampart's Western Block interest to 35% (corrected to 30% on 7 March). First spend under the ACES facility.
23 Jan 2014drilling progress report● Neutral
Preparations for the 'Big Bend' seismic survey are on track for February: ice pad and water permits and community meetings are complete. Ice pad construction and ice checking come next. Cold weather is hoped to thicken the ice. No data yet.
4 Sept 2013resource reserve update● Neutral
Follow-up to the 22 August estimate: NSAI's mean recovery is about 3,995 barrels per acre, or roughly 640,000 barrels per 160-acre well, versus 550,000 for the Bakken and 280,000 for the Eagle Ford. These are prospective, unrisked comparisons, not results. No new resource figures.
22 Aug 2013resource reserve update▲ GoodMajor
Independent estimator NSAI puts unrisked prospective shale oil in place at 0.8 to 9.5 billion barrels gross, best estimate 3.8bn (2.85bn net to Rampart), with 167m barrels recoverable gross. Conventional potential is not yet assessed. This delivers the long-awaited resource report; these are prospective, not discovered, volumes.
27 May 2013farm in farm out agreement▲ GoodMajor
Rampart can earn up to 75% of about 38,000 net acres on Alaska's North Slope from Royale Energy. It starts with US$3.4m for an initial 10%, then a 3D seismic survey and two wells by March 2015. Options worth US$1.7m go to Royale. First deal under the oil and gas strategy.
22 Apr 2013farm in farm out completion● NeutralMajor
Company exits the Copahue geothermal project: Geothermal One assumes all future joint venture obligations from 7 January 2013. Earth Heat pays US$125,000 and lends US$150,000. Resolves the Copahue funding thread. It also says a former Argentine representative made baseless accusations and it will respond legally.
10 Oct 2012drilling scheduled● Neutral
Copahue gravity and magnetotelluric survey tenders have been received and are being assessed, with start targeted for end of 2012. Contractor and start date are promised by end of October. Continues the tender noted earlier.
20 July 2012drilling scheduled▲ Good
Preliminary well design completed: three directional wells to about 1,500m vertical depth could supply a Stage 1 plant of roughly 15MWe, with an optional fourth well. This lets the company seek tenders for casing and wellheads. Subject to approvals; no drilling date given.
18 May 2011resource reserve update▲ GoodMajor
SKM's independent review of Copahue gives Canadian-code resources of 19MWe measured, 55MWe inferred in the vapour zone and 190MWe inferred in the deep liquid zone. The company says this is over 150% above historical estimates.
13 May 2010farm in farm out agreement▲ GoodMajor
Heads of Agreement to farm into the Copahue geothermal project in Argentina, an initial 30 MW development. Fall River can earn 50% by spending about US$18m, then 75% with a further US$35m, and up to 87.5%. It depends on Geothermal One winning the award, expected within 6 weeks.
