Past year: ▼ 67%(0.10c – 0.40c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
19 Apr 2010investor presentation● Neutral
Conference presentation repeats known Thailand L20/50 facts: 50% interest, 23 leads, one firm plus two contingent wells in Q4 2010. It notes a US$1.6M bond was returned, with cash of A$4.3M and 339.3M shares at 6.5c.
6 Apr 2010security holder rights change● Neutral
The convertible note conversion rate stays at 5.87 shares per note for the June 2010 quarter. Routine, no change.
15 Mar 2010half year report● Neutral
Half-year report to 31 December 2009 lodged. The provided text covers only the corporate directory and directors' details, with no financial figures. Board is unchanged, with Craig Basson as Company Secretary.
9 Mar 2010drilling scheduled▲ GoodMajor
Operator Carnarvon finished interpreting the L20/50 seismic: 23 leads in five play types, with nine drill locations going to environmental approval. One firm and two contingent wells are planned for Q4 2010, subject to approvals.
9 Mar 2010drilling scheduled▲ Good
Sun repeats Carnarvon's news: 23 leads identified on L20/50 (Sun 50%), nine locations submitted for environmental approval, and one firm plus two contingent wells planned for Q4 2010. This replaces the earlier mid-2010, up to four wells timing.
2 Mar 2010debt financing● Neutral
Sun will pay A$93,060 interest on its 12% convertible notes on 31 March 2010 (1.6274 cents per note, 90 days). Routine servicing.
20 Jan 2010regulatory community update▲ Good
Sun finished a preliminary in-house interpretation of the new L20/50 seismic and says it confirms prospectivity, with some new prospects added. It now awaits operator Carnarvon's full interpretation, with joint venture review expected early February 2010.
5 Jan 2010security holder rights change● Neutral
The convertible note conversion rate is reset to 5.87 shares per note for the March 2010 quarter, up from 5.50. Routine reset under the trust deed.
2 Dec 2009debt financing● Neutral
Sun will pay A$95,127 interest on its 12% convertible notes on 31 December 2009 (1.6636 cents per note, 92 days). Routine servicing.
12 Nov 2009director officer appointment● Neutral
Craig Basson replaces Alan Peter Woods as Company Secretary and CFO. Woods stays on the board as a director.
12 Nov 2009investor presentation● Neutral
AGM presentation repeats known facts: Thailand L20/50 (50%) with 1-4 wells planned from mid-2010, 339.3M shares at 8c, cash A$3.3M plus refundable bonds, and US output of 121 boepd net. No new results.
28 Oct 2009quarterly activities report▼ BadMajor
September 2009 quarter: the Meek AHGU#1 well (Sun 12.5%) failed to deliver sustained commercial flow and was plugged and abandoned, ending months of testing. Thailand L20/50 seismic is finished (548 km) and processing started, with 1 to 4 wells possible in 2010.
20 Oct 2009director officer appointment● Neutral
Board approved 4,000,000 unlisted options at 12.5 cents, expiring 16 October 2011, for Managing Director Matthew Battrick. They are subject to shareholder approval at an EGM on 17 December 2009.
21 Sept 2009annual report● Neutral
Annual report for the year to 30 June 2009 lodged; AGM set for 12 November 2009. The provided text covers only highlights and the chairman's letter start; the financial figures are not included. It notes Thailand progressing well and Meek testing continuing.
2 Sept 2009debt financing● Neutral
Sun will pay A$95,468 interest on the 12% convertible notes on 30 September 2009 (1.6636 cents per note, 92 days). Routine servicing.
31 Aug 2009drilling progress report▲ Good
Carnarvon reports 548 km of 2D seismic completed on L20/50, 48 km above the 500 km commitment. Processing is fast-tracked to pick locations for up to four wells in 2010.
31 Aug 2009drilling progress report▲ Good
Sun reports the 548 line km L20/50 seismic survey finished on 28 August 2009, as scheduled. Data quality is excellent; thirteen leads are mapped. Interpretation now aims to rank prospects for up to four wells in 2010.
18 Aug 2009drilling progress report▲ Good
L20/50 seismic is 75% complete and early data is of excellent quality, showing an extra sub-basin. A further 48 km is being added at minimal cost. Thirteen leads are mapped, four possibly above 50 million barrels and one above 150 million.
18 Aug 2009drilling progress report▲ Good
Operator Carnarvon confirms the L20/50 survey is more than 75% complete, with about 48 km added after early data showed an extra sub-basin. Duplicates Sun's release.
29 July 2009drilling progress report● Neutral
Operator Carnarvon's version of the same update: over 50% of the L20/50 seismic is recorded, on schedule for end August 2009. Duplicates Sun's release and adds nothing new.
29 July 2009drilling progress report● Neutral
Over half of the 500 km L20/50 seismic survey is recorded, on schedule for end August 2009. Four leads are still said to possibly hold more than 50 million barrels in place. No new result.
14 July 2009regulatory community update▲ Good
Operator Carnarvon says Thailand's environmental impact assessment for L20/50 is approved. The 500 km 2D seismic survey is now underway and due for completion by end August 2009.
14 July 2009regulatory community update▲ Good
Sun repeats Carnarvon's news: environmental approval is received and the 500 km 2D survey on L20/50 (Sun 50%) is underway, finishing by end August 2009. Up to four wells are planned to follow. Resolves the earlier outstanding approval.
2 July 2009security holder rights change● Neutral
The convertible note conversion rate was reset to 5.50 shares per note for the September 2009 quarter, down from 9.16. Each note now converts into fewer shares, reflecting the lower trading-price-based reset.
12 June 2009security holder rights change● Neutral
124,000 convertible notes were converted at 9.16 shares each. Notes outstanding fall to 7,091,800 and quoted shares rise to 226,755,305. Small dilution.
2 June 2009investor presentation● Neutral
Re-lodged June 2009 investor briefing, because the earlier version lost resolution. It states post-placement cash of A$7.7M, 325.1 million shares at 7 cents and a A$22.8M market cap. It repeats the Thailand lead and seismic plan; the placement is not otherwise detailed here.
2 June 2009debt financing● Neutral
Sun will pay A$119,673 interest on the 12% convertible notes on 30 June 2009 (1.6455 cents per note, 91 days). Routine servicing.
26 May 2009well test result▼ BadMajor
Meek AHGU#1 (Sun 12.5%) deepest zone, 3,606-3,611 m, has not flowed commercially. A peak of 805 mcf/d fell to 78 mcf/d within a day despite fracture stimulation. The operator plans to plug it and test 3,530-3,539 m next.
19 May 2009drilling scheduled▲ GoodMajor
Carnarvon and Sun mapped seven leads on L20/50 (Sun 50%) from old seismic; Sun estimates the largest two could each hold over 50 million barrels in place. A 500 km2 2D survey starts July 2009, with drilling in 2010. Nong Bua-1 twin deferred.
2 Apr 2009security holder rights change● Neutral
Convertible note conversion rate held at 9.16 shares per note for the June 2009 quarter, unchanged from March.
