20 July 2018other● NeutralMajor
ASX suspends Rey's shares at the company's request, pending an announcement about the proposed divestment of a material asset. Expected to last until 24 July 2018 at the latest.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
18 July 2018debt financing● Neutral
ASF Group confirms its side of the increase in its facility to Rey from $2M to $2.5M, other terms unchanged. Duplicates Rey's announcement.
18 July 2018debt financing● Neutral
Rey agrees to raise the ASF loan facility from $2M to $2.5M, other terms unchanged. This is the third increase since the original $1M facility of October 2017.
6 June 2018other● Neutral
Rey lodges an ASIC Form 484 under Listing Rule 3.8A. Administrative notice with no business information in the text shown.
14 May 2018asset acquisition disposition● Neutral
Key Petroleum announces its side of the swap: it takes Rey's 43.47% of EP437, lifting its holding to 86.94% as operator, and exits the Canning Basin. Duplicates Rey's announcement and notes a Wye Knot-1 well targeted later in 2018.
14 May 2018asset acquisition disposition● NeutralMajor
Rey agrees to swap its 43.47% of Perth Basin EP437 (including the Wye Knot prospect) with Key Petroleum for 100% of the Lennard Shelf Blocks (EP104, R1, L15, about 1,145 km2) in the Canning Basin. It exits Perth Basin, with one EP104 well due by June 2019.
12 Mar 2018half year report▼ Bad
Half-year to 31 December 2017: net loss $408,000 versus $302,000 a year earlier, up about 35%, attributed to higher employee expenses and loan interest. $1M of the ASF facility had been drawn by 31 December.
2 Mar 2018debt financing● Neutral
Rey extends the $500,000 Wanyan Liu loan to 31 December 2019, and lifts the ASF facility to $2M with the same new maturity. Both loans were previously due in 2018, so near-term repayment pressure eases.
2 Mar 2018debt financing● Neutral
ASF Group confirms its side of the extension: the facility to Rey rises from $1.5M to $2M, with maturity 31 December 2019. Duplicates Rey's announcement.
18 Dec 2017debt financing● Neutral
Rey and ASF Group sign a deed raising the standby loan facility from $1M to $1.5M, all other terms unchanged. It extends the October 2017 facility and adds to Rey's borrowing from its 16.31% shareholder.
19 Oct 2017other● Neutral
Corporate Governance Statement dated 19 October 2017 reports against the ASX governance principles. It says practices were compliant except for listed departures. Administrative, with no business news.
19 Oct 2017other● Neutral
Appendix 4G for the year to 30 June 2017 points to the corporate governance statement on the website. Administrative form with no business news.
19 Oct 2017annual report● Neutral
2017 annual report: the focus is gas exploration in the Canning and Perth Basins, with 100% of EP487 and operatorship gained. Chairman names the Ungani Trend as the Fitzroy priority and new 2D seismic planned. Text shown has no financial figures.
12 Oct 2017debt financing● NeutralMajor
Rey signs a standby loan facility of up to $1M with major shareholder ASF Group, at 12% a year interest, repayable 11 October 2018 or earlier on 3 months' notice. ASF holds about 16.31% of Rey. Adds to the July $500,000 loan.
12 Oct 2017debt financing● Neutral
ASF Group confirms its side of the up to $1M standby loan facility to Rey, at 12% interest, repayable 11 October 2018. It states a holding of about 16.31%. Duplicates Rey's announcement.
21 Sept 2017annual report● Neutral
Full-year statutory accounts for the year to 30 June 2017 are lodged, with directors' report and audit report. The text shown gives no financial figures, so no result can be stated here.
20 Sept 2017resource reserve update▼ BadMajor
Rey will review and update the 2011 feasibility study for Duchess Paradise coal and withdraws its coal reserve until the review is done. It expects no material reduction. The 305.8 Mt resource is unaffected. This reverses the earlier 26.3 Mt reserve figure.
18 Aug 2017drilling scheduled▲ GoodMajor
Rey will acquire 64km of new 2D seismic in late September 2017 over the Butler Prospect, 45km east of Derby in EP487. It estimates potential of 4 Tcf recoverable. Butler may extend into Buru's adjacent permit. This is unrisked potential, not a discovery.
7 July 2017other● Neutral
Rey publishes its Securities Trading Policy, covering insider trading rules for directors, employees and contractors. It is a governance document with no new business information.
3 July 2017debt financing● NeutralMajor
Rey takes a $500,000 loan from substantial shareholder Wanyan Liu for exploration and working capital. Term is 12 months at 12% a year interest. It adds debt after cash of $799,000 at December 2016.
21 June 2017drilling scheduled● Neutral
Partner Pilot Energy says the Wye Knot-1 well in EP437 is scheduled for Q4 2017, the first date given. Final location depends on a land access agreement. Repeats the operator's update and the 1.4 MMbbl best-estimate gross prospective resource; Rey holds 43.471%.
21 June 2017drilling progress report● Neutral
Operator Key Petroleum reports Wye Knot-1 planning progress in EP437: long-lead item approval executed, contractor tendering begun, preferred well location chosen. Best-estimate gross prospective oil is 1.4 MMbbl, unchanged from December 2016. No spud date is given in the text shown.
16 June 2017asset acquisition disposition▲ GoodMajor
Rey completes the purchase of Oil Basins' 50%, now holding 100% of the Derby Block (EP487). A new 3D-GEO estimate puts gross prospective recoverable gas at 28.4 Tcf (P50), unrisked, for 100% of the block. Two wells are still required in 2017; partner search continues.
16 Mar 2017asset acquisition disposition▲ GoodMajor
Rey agrees to buy Oil Basins' 50% of the Derby Block (EP487), giving it 100%, by waiving about $577,000 of unpaid cash calls and $32,000 of legal fees. This ends the buy-out dispute. Completion is expected April 2017, pending approvals; Rey will seek a farm-in partner.
16 Mar 2017asset acquisition disposition● Neutral
Oil Basins confirms it is withdrawing from EP487, signing a binding agreement to transfer its 50% to Rey at nominal value. It says it will not fund its share of the work program. Mirrors Rey's announcement and settles the dispute.
10 Mar 2017half year report● Neutral
Half-year to 31 December 2016: net loss $302,000 versus $3.25M a year earlier, with cash of $799,000. The 5-to-1 consolidation leaves 212,495,266 shares. The loss fell after earlier cost reductions, as stated by directors.
30 Dec 2016director officer appointment● Neutral
Managing Director Jin Wei's consulting fee rises to $10,000 per month from 1 January 2017.
19 Dec 2016drilling scheduled▲ GoodMajor
Partner Pilot Energy reports the EP437 joint venture approved the work program and budget for the Wye Knot-1 oil exploration well, net cost up to A$1.7M after a $200,000 grant. Best-estimate gross prospective resource is 1.4 MMbbl, with a 30% chance of success. Rig and spud date are not yet set.
19 Dec 2016drilling scheduled● Neutral
Operator Key Petroleum confirms Rey and Pilot approved the EP437 Year 3 budget including the Wye Knot commitment well, with a $200,000 government grant against a $1.9M budget. Rig tendering begins; no spud date yet. Duplicates the Pilot announcement.
2 Dec 2016admin correction● Neutral
Replacement 2016 annual report issued because the 26 October version inadvertently omitted one page (page 74) of the independent audit report. No new business information is given in the text shown.