Past year: ▼ 51%(1.00c – 5.50c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
30 Oct 2015quarterly activities report● Neutral
September quarter: Victory-1 reached 2,600 m after total fluid losses at 1,945 m, which Rey interprets as a possibly cavernous reservoir. A flow test is expected in November, subject to JV approval. Senagi-1 is coring, and a $2M loan was secured.
30 Oct 2015debt financing● Neutral
ASF Group, Rey's largest shareholder, discloses the $2M standby loan to Rey at 9% interest, with $850,000 drawn. Repayment is due 29 January 2016 (extendable up to 2 months), in cash or, at ASF's election, Rey shares at 8 cents. ASF holds about 18.3%.
29 Oct 2015drilling progress report● Neutral
Victory 1 reached its 2,600 m total depth with continued complete lost circulation, so no samples were returned. Logs are being run; over 10,000 barrels of water lost may make interpretation hard. A test decision follows, and testing could take up to four weeks.
29 Oct 2015drilling progress report● Neutral
Senagi 1 is coring at 904 m. The Laurel carbonate top was at about 829 m, with a thin vuggy interval showing oil, but the shows are interpreted as residual. Coring continues toward the deeper Nullara target.
22 Oct 2015drilling progress report● Neutral
Victory 1 hit complete lost circulation at 1,945 m, similar to the Ungani Dolomite elsewhere, and was at 1,976 m. Mudgas and minor fluorescence were seen above the zone, but whether hydrocarbons exist below cannot be determined yet.
22 Oct 2015drilling progress report● Neutral
Senagi 1 reached 377 m with 7-inch casing cemented, and is preparing to drill the next section. No hydrocarbon indications, none expected at this depth.
15 Oct 2015drilling progress report● Neutral
Victory 1: 5.5-inch casing was cemented at 1,893 m, but mechanical issues with the casing are being fixed, taking at least three more days. Drilling into the main targets then resumes. No hydrocarbon indications, none expected yet. Rey pays 16.67%.
15 Oct 2015drilling spud▲ GoodMajor
Buru spudded Senagi 1 in EP458 on 15 October, planned to reach 1,200 m in about 28 days. It targets the updip extension of oil-stained reservoirs seen in an old mineral well. Rey holds 25%, paying 16.67%. This is the second Fitzroy well, as planned.
13 Oct 2015admin correction● Neutral
Appendix 4G filed with the annual report, pointing to the corporate governance statement on the company website. Administrative filing with no business substance.
13 Oct 2015other● Neutral
Corporate Governance Statement dated 13 October 2015, reporting against the ASX governance principles (3rd Edition). The visible text is a compliance table with no new business information; some items are shown as not complied with.
13 Oct 2015annual report● Neutral
Rey's 2015 Annual Report, for the year to 30 June 2015, is lodged. The visible text covers the company profile and chairman's opening; financial figures are not in the readable extract. It restates the 25% Fitzroy Blocks interest, Victory-1 spud and the 43.47% EP437 stake.
8 Oct 2015drilling progress report● Neutral
Victory 1 reached 1,893 m and casing is being run before drilling into the main targets. Minor shows were noted in tight Grant Formation sands, with significance to be evaluated after completion.
1 Oct 2015drilling progress report● Neutral
Victory 1 reached 1,830 m. The 5.5-inch casing point was revised to about 1,900 m for operational reasons. No hydrocarbon indications.
25 Sept 2015annual report● Neutral
Replacement of the 30 June 2015 full-year accounts filed the day before. Visible text is identical to the original, so what changed is not shown.
24 Sept 2015drilling progress report● Neutral
Victory 1 reached 1,277 m, drilling ahead toward a section depth of about 1,600 m. No hydrocarbon indications reported, none expected at this depth.
24 Sept 2015annual report● Neutral
Rey's consolidated financial report for the year to 30 June 2015, with KPMG as auditor. The extract shown covers only directors and officers; board unchanged. Financial figures are not in the readable text.
17 Sept 2015drilling progress report● Neutral
Victory 1 drilled to 1,020 m and 7-inch casing was cemented at 1,018 m. No hydrocarbon indications yet, and none were expected at this stage.
11 Sept 2015admin correction● Neutral
Administrative filing of an ASIC Form 484 under Listing Rule 3.8A. No substance in the text itself.
9 Sept 2015drilling spud▲ GoodMajor
Buru spudded Victory 1 on 9 September in EP457, targeting a maximum 2,600 m depth in about 34 days. Rey holds 25% equity and pays 16.67%. Gross best-estimate prospective resource is 40 million barrels, unrisked.
9 Sept 2015drilling spud▲ Good
Rey confirms Victory 1 has spudded, with a 25% interest and 16.7% cost share. Its economic best estimate is 10 million barrels (low 1.75, high 24.5), unrisked prospective. Senagi-1 in EP458 is now planned for October 2015.
14 Aug 2015admin correction● Neutral
Administrative filing of an ASIC Form 484 under Listing Rule 3.8A. No substance in the text itself.
13 July 2015quarterly activities report● Neutral
June quarter: Dunnart-2 flow test completed with no commercial hydrocarbons. Victory-1 (EP457) planned for September and Senagi-1 for Q3 2015. Derby Block 50% acquisition completed, and Rey took a Norwest stake. Report states a 1% Oil Basins royalty.
3 July 2015security holder rights change● Neutral
985,294 and 1,500,000 performance rights lapsed after performance conditions were not met by 30 June 2015. Remaining capital: 711,750,074 ordinary shares, 2,426,667 and 1,000,000 performance rights.
3 July 2015admin correction● Neutral
Administrative filing of an ASIC Form 484 under Listing Rule 3.8A. No substance in the text itself.
9 June 2015drilling result▼ BadMajor
Dunnart-2 testing is complete and no commercial hydrocarbons flowed to surface. The well is decommissioned and the rig released. This ends the long-running Dunnart-2 flow test thread; Key still sees EP437 as prospective and is discussing Conder South and Wye Knot wells.
5 June 2015material agreement● Neutral
Norwest says its $500,000 placement is complete, including Rey's $250,000 at $0.004712 per share (53,056,027 shares, about 3.68% of Norwest). Confirms the June Rey–Norwest alliance on Perth Basin farm-out opportunities; Norwest's view of the same deal.
5 June 2015drilling progress report● Neutral
Dunnart-2 casing scraper run done; crews were running perforating guns and completion tubing on 4 June. Perforating and testing of 12 m of Bookara Sandstone follows. No test result yet.
3 June 2015asset acquisition disposition● NeutralMajor
Rey bought 53,056,027 Norwest Energy shares, about 4%, for $250,000 at $0.004712. It aims to find north Perth Basin farm-in opportunities alongside its 43.47% EP437 interest. No specific project deal yet.
3 June 2015material agreement● Neutral
Norwest Energy announces a strategic alliance with Rey to explore Perth Basin farm-out opportunities, backed by Rey's $250,000 share subscription at $0.004712. Counterparty's view of the same deal.
2 June 2015drilling progress report● Neutral
Completion work began at Dunnart-2 after blowout preventer testing. Crews are running tubing before the flow test, expected in a few days.
