Past year: ▼ 51%(1.00c – 5.50c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
21 Dec 2020asset acquisition disposition● NeutralMajor
Rey signs a term sheet to acquire up to 75% of Southernpec (Australia), which holds interests in 7 Surat Basin, Queensland gas licences. Stage one is $400,000 for 10%; stage two $4.8M (cash $1.5M plus shares) for 55%, conditional on a flow test by 28 Feb 2021. A move beyond the Canning Basin.
21 Dec 2020farm in farm out agreement▲ GoodMajor
Rey signs a binding letter agreement to farm out 20% of EP457/458 to Origin, taking Rey from 40% to 20%. A formal agreement is due by 31 March 2021, otherwise Origin completes for $3M, half ($1.5M) to Rey. Origin may fund a $6M well by 2024.
30 Nov 2020security holder rights change● Neutral
Minimum-holding buy-back cancelled 16,187 shares for $4,183, leaving 211,964,050 shares on issue. Administrative.
30 Oct 2020security holder rights change● Neutral
Minimum-holding buy-back cancelled 180,202 shares for $38,192, leaving 211,980,237 shares on issue. Small housekeeping buy-back of tiny holdings.
26 Oct 2020annual report● Neutral
Re-lodged 2020 Annual Report for the year to 30 June 2020; same report as the 29 Sept version. Chair says West Kora-1 reproduction was being reviewed after Doriemus's L15 farm-out ended Feb 2020, and COVID-19 slowed works. Extract shows no financial figures.
29 Sept 2020other● Neutral
Appendix 4G for the year to 30 June 2020, pointing to the corporate governance statement on Rey's website. Administrative only.
29 Sept 2020annual report● Neutral
2020 Annual Report for the year to 30 June 2020. Holds 100% of EP487 and the Lennard Shelf blocks, and 40% of Fitzroy. The chair says Doriemus failed to spend agreed funds on L15 and COVID-19 slowed works. Extract shows no financial figures.
29 Sept 2020other● Neutral
Corporate governance statement dated 28 September 2020 reporting against ASX principles for FY2020. Governance disclosure only, with no new commercial information.
1 July 2020director officer appointment● Neutral
Company secretary Shannon Coates resigned and William Kuan was appointed. He is a director and company secretary of ASF Group, a substantial shareholder and lender. Registered office moved to Sydney (3B Macquarie Street).
25 June 2020debt financing▲ GoodMajor
ASF's $2M facility maturity extended from 30 June 2020 to 31 October 2021. Wanyan Liu Loan Facility #2 increased from $3M to $5M, maturing 31 October 2021, at 12% interest paid quarterly in cash. Gives Rey a longer debt runway.
9 Apr 2020director officer appointment● Neutral
Non-executive director Dr Zhiliang Ou resigned from the board with immediate effect. No reason or replacement was given.
27 Mar 2020debt financing● Neutral
ASF Group confirms it extended Rey's $2M loan facility maturity from 31 March 2020 to 30 June 2020. Other terms unchanged. Mirrors Rey's announcement.
27 Mar 2020debt financing● Neutral
Rey extends its $2M ASF loan facility maturity from 31 March 2020 to 30 June 2020, other terms unchanged. Another short extension of the same debt.
12 Mar 2020half year report● Neutral
Half-year to 31 Dec 2019: net loss $602,000 versus $8,271,000 a year earlier, which included an impairment. Finance costs $331,000, mainly interest on ASF and Wanyan Liu loans. Norwest shares sold after period for $265,280. Auditor now listed as ShineWing, not KPMG.
24 Feb 2020admin correction● Neutral
ASIC Form 484 records cancellation of 28,000 shares in a buy-back (earliest date 30 Jan 2020, $7,880 paid). Total shares are now 212,160,439. Administrative, with negligible effect.
6 Feb 2020farm in farm out agreement▼ Bad
Doriemus confirms it gave notice withdrawing from the L15 farm-out, ending its right to earn an interest. It says it will focus on its proposed Oilex deal for South Australian Cooper-Eromanga assets. Mirrors Rey's announcement.
6 Feb 2020farm in farm out agreement▼ BadMajor
Doriemus has withdrawn from the L15 farm-out, ending its right to earn 50% for funding A$1M of West Kora 1 work. Rey stays 100% holder of L15 and will seek new partners. This follows the earlier EP487 farm-out ending in August 2019.
31 Dec 2019debt financing● Neutral
ASF Group confirms it has reduced Rey's loan facility from $3.8M to $2M and extended maturity to 31 March 2020. Mirrors Rey's announcement.
31 Dec 2019debt financing● Neutral
Rey cuts its ASF loan facility from $3.8M to $2M and extends maturity from 31 December 2019 to 31 March 2020. Other terms are unchanged. This follows the Wanyan Liu loans intended to repay ASF.
28 Oct 2019other● Neutral
Appendix 4G, the checklist pointing to Rey's corporate governance statement for the year to 30 June 2019. Administrative only.
28 Oct 2019annual report● Neutral
2019 Annual Report: confirms the Doriemus EP487 farm-out ended in August 2019 while L15 continues. Rey says it is in discussions with other investors for EP487 and Duchess Paradise funding. Holds Fitzroy 40% and 100% of EP487 and Lennard Shelf.
28 Oct 2019other● Neutral
Corporate governance statement dated 28 October 2019 reporting against ASX principles. Governance disclosure only, with some departures noted; no new commercial information.
20 Sept 2019annual report● Neutral
Full-year statutory accounts for the year to 30 June 2019, with unchanged board and KPMG as auditor. The extract provided shows no financial figures, so no results can be stated.
5 Aug 2019material agreement termination▼ BadMajor
Rey terminates the EP487 farm-out with Doriemus because it did not raise sufficient funds by 31 July 2019. Rey stays 100% holder of EP487 and will seek new partners. The L15 farm-out is unaffected.
5 Aug 2019material agreement termination▼ Bad
Doriemus confirms receiving Rey's termination notice for the EP487 farm-out, as it lacked funding by 31 July 2019 to drill the Butler well. Its right to earn EP487 ends; the L15 farm-out continues. Mirrors Rey's announcement.
17 July 2019debt financing● NeutralMajor
Rey takes a further loan facility of up to $3M from substantial shareholder Wanyan Liu, 12% interest, maturing 31 December 2021. It will fund working capital and repay the $3.8M ASF facility due 31 December 2019. The $500k loan is extended to 31 March 2021.
1 July 2019farm in farm out agreement▼ Bad
Doriemus says Rey agreed to move its deadline for proof of funding for the EP487 well from 30 June to 31 July 2019. Doriemus is still evaluating funding options, so the Butler farm-out remains unfunded.
24 June 2019admin correction● Neutral
Another ASIC Form 484 lodgement. It appears to record a cancellation of 2,880 fully paid ordinary shares under a buy-back (amount paid $864). Administrative, with a very small share count.
31 May 2019admin correction● Neutral
Routine ASIC Form 484 lodgement (change to company details). No substantive information in the text provided.
31 May 2019admin correction● Neutral
Correction to the earlier filing: issued capital is 212,191,319 shares, not 212,171,319. Administrative only.
