Past year: ▲ 800%(0.30c – 10.0c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
1 Aug 2006quarterly activities report● Neutral
June 2006 quarter cash flow: no product sales receipts, net operating outflow A$1,229k, and cash at quarter end A$333k. Financing inflow was A$6,371k, and A$450k of outflows was estimated for the next quarter.
19 June 2006drilling scheduled▲ Good
Next Sprowl well to spud early August 2006, with three more planned after it. Company expects about A$1.4 million cash flow over 12 months from its 20% interest. Four extra possible locations identified.
15 June 2006quarterly activities report● Neutral
Management discussion for the March 2006 quarter. Confirms the Sprowl 20% interest settled at listing, with all option payments completed, and a six-well program planned. Repeats the A$6,371,650 raising; no new results.
15 June 2006half year report● Neutral
The directors' report for the six months to 31 March 2006 (unreviewed) showed a net loss of C$1,047,354 versus C$620,643 a year earlier. It restated that the next Baxter well would be a fracture-stimulated vertical, and that Lake David, Sunken Lake and South Wildwood needed further assessment.
14 June 2006half year report▼ Bad
Unreviewed half-year accounts to 31 March 2006, in Canadian dollars: six-month net loss of $1,047,354 and cash of $216,987. The notes record a working capital deficiency of $219,851 and no revenue at that date, before the listing raising.
31 May 2006joint venture update● Neutral
Operations update: Sprowl now produces from 4 wells, and Baxter Shale is the primary focus, with a conventional fracture-stimulated vertical well planned. Interests: South Wildwood 25%, Lake David 25%, Sunken Lake 15%. Further work is being considered at these.
21 Apr 2006asset acquisition disposition▲ GoodMajor
Fall River listed on the ASX, having raised A$6,371,650, and completed buying a 20% interest in the Sprowl gas field, Oklahoma, for US$2.6 million plus 1.5 million CDIs and 500,000 option CDIs. It now has gas production and cash flow from 4 wells.
19 Apr 2006other● Neutral
Deed governing the convertible note issue, filed as a listing document. Administrative; it sets out the note terms already described in the activities update.
19 Apr 2006other● Neutral
Distribution schedule for the listing: 477 shareholders and 290 option holders. Administrative listing requirement.
19 Apr 2006other▲ GoodMajor
ASX circular confirming Fall River Resources (the company later known as Pilot Energy) joined the ASX list on 19 April 2006, with 61,983,050 CDIs and 12,743,301 options quoted from 20 April. Several escrowed securities are not quoted.
19 Apr 2006other● Neutral
Stock option plan for directors, officers and staff, filed as a listing document. Administrative; no new event.
19 Apr 2006other● Neutral
Statement of financial position at 30 September 2005, with pro-forma adjustment for the prospectus raising: cash of 6,445,108 rising to 6,816,758 and net assets of 6,259,808 rising to 6,631,458. Includes a convertible debenture liability of 1,005,333.
19 Apr 2006other● Neutral
Fall River Resources was admitted to the ASX Official List on 19 April 2006. Quotation of 61,983,050 CDIs and 12,743,301 option CDIs starts 20 April. Largely repeats the ASX circular.
19 Apr 2006quarterly activities report▼ Bad
Activities commentary in place of the March 2006 quarterly. The Green Canyon Baxter Shale sidetrack reached 13,800 feet with no hydrocarbons entering the well. South Wildwood was plugged and abandoned. Convertible notes of up to A$953,333 were being raised; the Sprowl purchase was awaiting listing.
19 Apr 2006other● Neutral
Standard terms and conditions of the company's warrants, exercisable at $0.20 per share. Administrative listing document.
19 Apr 2006other● Neutral
Top 20 shareholders list: together they hold 30,869,208 shares, 49.80% of 61,983,050 issued. The largest, CDS & Co, holds 9.14%. Administrative disclosure.
19 Apr 2006other● Neutral
Top 20 option holders list: they hold 8,160,547 options, 64.41% of the class. Martin Place Securities and Ocean Financial each hold 14.67%. Administrative disclosure.
19 Apr 2006other● Neutral
Pre-quotation disclosure list of documents released with the ASX admission, such as holder lists, financials and terms of options, warrants and notes. No new substance in itself.
19 Apr 2006other● Neutral
Company articles (constitution) filed as part of the listing documents. Administrative; no new event.
19 Apr 2006other● Neutral
Use-of-funds table for the roughly $6.37 million prospectus raising. Planned uses include $3.47 million for the Sprowl gas field acquisition in Oklahoma in 2006, plus development, work programs and corporate costs.
19 Apr 2006other● Neutral
Summary of issued and restricted securities. Of 61,983,050 shares, 3,708,467 are escrowed. Options, warrants and 366,665 convertible notes are also listed with escrow dates. Administrative.
