4 Oct 2023agm notice● Neutral
AGM set for Wednesday 29 November 2023, with director re-election on the agenda. Nominations close 11 October 2023. Administrative.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
27 Sept 2023annual report● Neutral
FY2023 annual report: Rey holds 100% of EP487, 40% of Fitzroy and 100% of the Lennard Shelf blocks, with EP104 renewed in March 2023. The EP487 3D seismic is expected before end of 2024, and a Point Torment-1 sidetrack is planned for Q3 2024. The PZE stake is now about 5.8%.
27 Sept 2023other● Neutral
FY2023 corporate governance statement reporting against the ASX 4th Edition principles, with some departures noted. Compliance paperwork with no new business information.
27 Sept 2023other● Neutral
Appendix 4G governance checklist for the year to 30 June 2023, pointing to the website governance statement. Administrative filing with no new substance.
24 July 2023quarterly activities report● Neutral
June 2023 quarter cash flow report: cash rose to $240,000 from $115,000. Operating outflow $548,000, exploration spend $146,000, with $840,000 borrowed. Facilities now $22M, $15.12M drawn, $6.88M undrawn, maturing October 2024.
30 May 2023debt financing▲ GoodMajor
ASF extends its $2M loan to 31 October 2024. Liu's unsecured facility is raised by $3M to $20M and also extended to 31 October 2024. This pushes out the October 2023 maturity by a year; other terms unchanged (12% interest, per earlier filings).
15 May 2023director officer appointment● Neutral
Qianrui (Stanley) Fu, formerly Rey's Operation Manager until July 2022, becomes non-executive director from 15 May 2023. William Kuan resigns as director but remains Company Secretary.
26 Apr 2023quarterly activities report● Neutral
March 2023 quarter cash flow report: cash rose to $115,000 from $101,000. Operating outflow $602,000, exploration spend $182,000, with $800,000 borrowed. Facilities $19M, $14.28M drawn, $4.72M undrawn, due October 2023.
13 Mar 2023half year report▼ Bad
Half-year to 31 December 2022: net loss $1,093,000, up about 25.9% from $868,000, with finance costs of $823,000 mostly interest on the ASF and Liu loans. Origin's exit takes Rey to 40% of Fitzroy. A 500 km² 3D seismic over the Butler prospect in EP487 is supported by DMIRS.
9 Mar 2023listing compliance notice● Neutral
ASX says Rey's suspension will lift immediately after Rey announces it has appointed enough directors to comply with section 201A(2). Resolves the 3 March suspension.
6 Mar 2023director officer appointment● Neutral
William Kuan, Company Secretary since July 2020 and a director of substantial shareholder ASF Group, is appointed a director from 6 March 2023. No director fee is set yet. Appears to be the fix for the director-number shortfall that led to the suspension (inference).
3 Mar 2023listing compliance notice▼ BadMajor
ASX suspends Rey's shares from quotation immediately because the company lacks enough directors to comply with section 201A(2) of the Corporations Act. Trading stays halted until sufficient directors are appointed.
13 Feb 2023farm in farm out completion▲ GoodMajor
Origin withdraws from the Fitzroy Blocks EP457/458 under a binding letter agreement, handing its 40% back to Buru and Rey equally. Rey's interest doubles from 20% to 40%; Buru stays operator at 60%. A joint 3D seismic survey to delineate Rafael is planned for 2023. Subject to regulatory approval.
25 Jan 2023quarterly activities report● Neutral
December 2022 quarter cash flow report: cash rose to $101,000 from $37,000. Operating outflow $539,000, exploration spend $127,000, with $730,000 borrowed. Facilities $19M, $13.48M drawn, $5.52M undrawn, due October 2023.
29 Nov 2022director officer appointment● Neutral
Yan Zhao, Rey's Resources Manager and a former ASF Group vice president, becomes Executive Director from 29 November 2022. Non-executive director Dachun Zhang, on the board since 2013, resigns the same day.
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.
28 Oct 2022agm notice● Neutral
Letter to shareholders giving notice of the AGM at 2:00pm on Monday 28 November 2022 at the Sydney office. Materials are online only, and shareholders are encouraged to lodge proxies. Administrative.
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.
24 Oct 2022quarterly activities report▼ Bad
September 2022 quarter cash flow report: cash fell to $37,000 from $172,000. Operating outflow $501,000 and exploration spend $224,000, with $590,000 borrowed. Facilities $19M, $12.75M drawn, $6.25M undrawn, due October 2023.
30 Sept 2022director officer appointment● Neutral
Louis Chien resigned as alternate director to chair Min Yang, effective 1 October 2022. Minor board change.
30 Sept 2022agm notice● Neutral
AGM set for Monday 28 November 2022, with director re-election on the agenda. Nominations close 10 October 2022. Administrative.
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.
25 July 2022quarterly activities report● Neutral
June 2022 quarter cash flow report: cash rose to $172,000 from $31,000, helped by $800,000 of borrowings. Operating outflow $433,000. Facilities now $19M, $12.16M drawn, $6.84M undrawn, all maturing 31 October 2023.
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.
27 Apr 2022quarterly activities report▼ Bad
March 2022 quarter cash flow report: cash fell to $31,000 from $85,000. Operating outflow $456,000 and exploration spend $258,000, funded by $660,000 of borrowings. Facilities $14.5M, $11.36M drawn, $3.14M undrawn, both loans due 31 October 2022.
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.