31 Oct 2022other● Neutral
Share registry Boardroom is moving to Level 8, 210 George Street, Sydney from 1 November 2022. Contact details unchanged. Administrative notice.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
28 Oct 2022annual report● Neutral
Re-lodgement of the FY2022 annual report (year to 30 June 2022), appearing to match the 27 September filing. Nothing new apparent in the visible text.
30 Sept 2022director officer appointment● Neutral
Louis Chien resigned as alternate director to chair Min Yang, effective 1 October 2022. Minor board change.
27 Sept 2022annual report● Neutral
FY2022 annual report: Rey holds the 7.5M PZE shares (about 9.9%) after leaving Surat. R1 licence renewal approved August 2022. EP487 now targets conventional rather than tight gas, partly after a conventional discovery at the Rafael prospect. A Duchess Paradise term sheet went to Native Title.
27 Sept 2022other● Neutral
Appendix 4G governance checklist for the year to 30 June 2022, pointing to the website governance statement. Administrative filing with no new substance.
27 Sept 2022other● Neutral
FY2022 corporate governance statement, reporting against the ASX 4th Edition principles and noting some departures. Compliance paperwork with no new business information.
4 July 2022asset acquisition disposition● NeutralMajor
Rey exits its Surat gas stake: SouthnA will buy back all Rey's SouthnA shares for $766,500, paid by transferring 7.5 million shares in PZE Limited. PZE, which now holds the Surat project, plans an ASX listing. Rey swaps a 20% stake for PZE shares.
22 June 2022debt financing▲ GoodMajor
ASF extends its $2M loan maturity by a year to 31 October 2023. Liu's facility rises $4.5M to $17M and also extends to 31 October 2023. Other terms unchanged. Resolves the October 2022 repayment deadline and adds funding capacity.
22 June 2022debt financing● Neutral
ASF Group's own notice that its $2M loan facility to Rey is extended from 31 October 2022 to 31 October 2023, other terms unchanged. Duplicates Rey's same-day announcement.
14 Mar 2022half year report▼ Bad
Half-year to 31 Dec 2021: net loss $868,000, up about 43.5% from $605,000, with finance costs of $661,000 (2020: $460,000) mainly interest on the ASF and Liu loans. Origin-funded Fitzroy 2D seismic is complete; Rey keeps 20% of SouthnA.
28 Jan 2022material agreement termination▼ BadMajor
Rey agrees with Southernpec not to proceed with stages 2 and 3 of the Surat acquisition, ending the path to 75% set out in December 2020. It keeps its 20% stake and is discussing capital-raising options with Southernpec for the next drilling.
29 Oct 2021annual report● Neutral
Re-lodgement of the FY2021 annual report (year to 30 June 2021), with the same contents as the 29 September filing. Nothing new apparent in the visible text.
22 Oct 2021material agreement● Neutral
Surat stage two start extended a fourth time, to 31 December 2021, to allow a commercial study on the flow-test results and fundraising for stage two. Rey holds 20% of Southernpec. Rey still needs to raise money for the stage.
29 Sept 2021annual report● Neutral
FY2021 annual report (year to 30 June 2021). Chair says Surat flow testing finished in June 2021 with encouraging results and Rey is assessing further investment. Describes the Fitzroy farm-out to Origin and a Duchess Paradise referral to NNTT mediation.
29 Sept 2021other● Neutral
Appendix 4G governance checklist signed 29 September 2021, pointing to the corporate governance statement. Administrative filing with no new substance.
29 Sept 2021other● Neutral
Corporate governance statement for FY2021, reporting against the ASX 4th Edition principles. Notes some departures from the recommendations. Compliance paperwork with no new business information.
30 June 2021material agreement● Neutral
Surat stage two start extended a third time, to 30 September 2021. Flow tests on Avondale-1/2/4 and Deepwater-1 began mid-June and data is being analysed, with results due soon. Rey holds 20% of Southernpec.
18 June 2021debt financing▲ Good
ASF extends its $2M loan facility maturity from 31 October 2021 to 31 October 2022. The $2M principal has been fully repaid and can be redrawn. Other terms unchanged. Removes the near-term ASF repayment date.
17 May 2021material agreement● Neutral
Rey agrees a $300,000 advance payment, part of Surat stage two, to fund flow testing. This lifts its stake in Southernpec from 10% to 20%. Total stage two cost is unchanged; the remaining balance still depends on the original conditions.
30 Apr 2021debt financing● NeutralMajor
Wanyan Liu consolidates his three loans ($0.5M, $5M, $3M, all drawn) into one $12.5M facility, adding $4M of new capacity. Interest stays 12% paid quarterly in cash; maturity pushed to 31 October 2022, removing the 2021 repayment dates.
21 Apr 2021material agreement● Neutral
Surat Gas Project stage two investment start extended again, from 16 April to 30 June 2021, for more flow-test preparation with the joint venture partner. Second delay to the deal Rey signed in December 2020; stage two is still not triggered.
19 Apr 2021security holder rights change● Neutral
Minimum-holding buy-back cancelled 13,443 shares for $2,757, leaving 211,927,539 shares on issue. Administrative.
15 Apr 2021farm in farm out completion▲ GoodMajor
Rey executes the formal farm-in agreement with Origin, which is assigned 40% of EP457/458 from Rey and Buru, leaving Rey 20%. Origin pays $3M: $1M now into a JV account for 2D seismic, $2M after the first $1M is spent. Completes the December letter deal.
16 Mar 2021debt financing● Neutral
Wanyan Liu's $500,000 Loan #1 maturity extended from 31 March 2021 to 31 October 2022. The $5M (Oct 2021) and $3M (Dec 2021) Liu loans are to be 'addressed later in the year'. Further push-out of related-party debt.
10 Mar 2021half year report● Neutral
Half-year to 31 Dec 2020: net loss $605,000 (prior $602,000); finance costs $460,000, mainly ASF and Liu loan interest. Repaid $1.54M to ASF in August 2020. Holds 10% of Southernpec; Origin farm-in and Surat stage two (now 16 April) pending.
5 Mar 2021material agreement● Neutral
Rey has completed stage one of the Surat gas deal and holds 10% of Southernpec. The stage two investment start is extended from 28 Feb to 16 April 2021 to allow more time for flow-test preparation. A delay to the Surat deal.
10 Feb 2021security holder rights change● Neutral
Minimum-holding buy-back cancelled 13,734 shares for $3,571, leaving 211,940,982 shares on issue. Administrative.
21 Dec 2020farm in farm out agreement▲ Good
Origin's release on its Canning Basin farm-in with Buru across seven permits. It takes 40% of the two Fitzroy permits (shared with Rey) in exchange for carrying costs. Third-party announcement mirroring the Buru and Rey news.
21 Dec 2020security holder rights change● Neutral
Minimum-holding buy-back cancelled 9,334 shares for $2,520, leaving 211,954,716 shares on issue. Administrative.
21 Dec 2020farm in farm out agreement▲ GoodMajor
Buru announces a binding letter agreement for Origin Energy to earn 40% of EP457/458 by funding a ~$3M 2D seismic survey. Buru and Rey each give up 20%, leaving Buru 40%, Origin 40%, Rey 20%. Resolves the Fitzroy farm-out search.