Each one in plain English, with the numbers worked through for a shareholder.
23 Feb 2016half year report● Neutral
Half year to December 2015: underlying profit $5.2m, statutory loss $27.1m after a $69.7m impairment, partly offset by a $38.2m Maisey gain. Production 0.54 mmboe (down 26%), cash $100m, liquidity $177m, no dividend. Guidance is on track.
17 Feb 2016other▼ BadMajor
Pre-announcement of half year items: about $38m after-tax gain on the Maisey sale, offset by about $70m non-cash impairment on longer-dated Cooper exploration assets. The impairment reflects lower oil price assumptions and cut near-term spending; producing assets are not expected to be impaired.
16 Feb 2016other● Neutral
Notice of the 23 February 2016 half year results release and a 9.00am AEST webcast. CFO Graham Yerbury is now named alongside CEO Ian Davies. No substantive content.
3 Feb 2016drilling progress report● Neutral
No wells were spudded in January, in line with the reduced capital program. Further drilling depends on the oil price outlook; a market update is promised with the half year results on 23 February 2016.
20 Jan 2016quarterly activities report▲ Good
December quarter: cash up 87% to $99.6m after the $42m GLNG receipt, liquidity $177m. Production 0.26 mmboe (down 7%), revenue $18.1m, capex $7.4m. A Halliburton deal funds two-thirds of initial Murta tight oil fracture testing risk capital. FY16 guidance of 1.0-1.2 mmboe is unchanged.
14 Jan 2016other● Neutral
Notice that the December 2015 quarterly report will be released on 21 January 2016, with an 8.00am AEST conference call. No substantive content.
13 Jan 2016drilling result▲ Good
Ethereal-1, the second Origin joint venture gas well (PEL 637, Senex 60%), reached 3,234 m on 2 January, on prognosis and matching Efficient-1's hydrocarbon zones. It is cased and suspended for fracture stimulation and testing; Senex is free-carried.
16 Dec 2015asset acquisition disposition▲ GoodMajor
The GLNG deal for the Western Surat Gas Project completed: Senex received $42m cash plus technical data for the Maisey block, and a binding 20-year gas sales agreement up to 50 TJ/day. This resolves the September 2015 pending deal; appraisal work starts in the second half of FY16.
4 Dec 2015other▼ Bad
S&P Dow Jones quarterly index rebalance lists Senex among removals from the S&P/ASX All Australian 200 from 18 December 2015. This is an index notice, not company news; Senex was already out of the ASX 200 after September.
2 Dec 2015other● Neutral
Beach Energy's monthly drilling report. For Senex's shared acreage it repeats Martlet-2 (4.5 m net oil column, in line with pre-drill estimates, cased and suspended). The rest covers Beach's non-Senex wells. Nothing new for Senex.
2 Dec 2015drilling result▲ Good
Martlet-2 development well (Senex 60%) reached 1,535 m, found 4.5 m of net Namur oil pay, and was cased and suspended as a future producer, online early 2016. It adds to the Martlet field after Martlet-1 and Martlet North-1.
18 Nov 2015agm notice● Neutral
Chairman's AGM address: share price is 16 cents versus about 40 cents a year ago, with Brent at US$45. Expects cash of $90-100m (9 cents per share) by end December if GLNG funds arrive. Reiterates cash preservation and strategy. Nothing new.
18 Nov 2015agm notice● Neutral
Managing Director's AGM address reviewing FY15: production 1.39 mmboe, $97m impairment, capex cut to $82.2m, G&A under $10m (from over $25m), cash $53.4m, $42m from GLNG pending. Restates strategy and priorities. No new information in the extract.
4 Nov 2015drilling result▲ Good
Efficient-1, the first Origin JV gas well (PEL 637, Senex 60%), reached 3,196 m with hydrocarbon shows; it will be cased and suspended for fracture stimulation and testing. Spitfire-7 began producing in late October, in line with expectations.
28 Oct 2015quarterly activities report● Neutral
September quarter: production 0.28 mmboe (down 13%), revenue $18.8m (down 20%), average oil price A$73/bbl. Cash rose 9% to $53.4m, no drawn debt, liquidity $133m. Capex $9.9m; $42m from GLNG expected by end 2015. Efficient-1 spudded in October.
22 Oct 2015other● Neutral
Notice that the September 2015 quarterly report will be released on 28 October 2015, with a 10.00am AEST conference call. No substantive content.
21 Oct 2015investor presentation● Neutral
Citi conference presentation repeating known facts: liquidity $129m, 2P 95 mmboe, FY16 guidance unchanged, GLNG deals, hedged minimum oil price US$56/bbl. Market capitalisation about $200m. Rigs preparing for Origin free-carried gas wells. No new information.
7 Oct 2015drilling result▲ Good
Spitfire-7 reached 1,827 m with 6.6 m of net Birkhead pay, on prognosis; cased and suspended, online expected November. Martlet North-1 began production at end September. Efficient-1, the first Origin JV gas well (Senex free-carried), spuds mid-October.
7 Oct 2015other● Neutral
Beach Energy's monthly drilling report. For Senex's shared acreage it repeats the Spitfire-7 result (6.6 m net oil pay, cased and suspended). The rest covers Beach's non-Senex wells. Nothing new for Senex.
30 Sept 2015annual report● Neutral
2015 Annual Report published, covering results already announced: production 1.39 mmboe, statutory loss $80.6m, underlying profit $5.6m, 2P reserves 94.6 mmboe, liquidity $129m. AGM set for 18 November 2015. No new figures in the extract.
24 Sept 2015material agreement▲ GoodMajor
Senex agrees to sell the 77 km2 Maisey block (ATP 889) to GLNG for $42m cash. It also signs a binding heads of agreement for a 20-year gas sales agreement of up to 50 TJ/day, oil-linked pricing. This gives the Western Surat Gas Project a buyer and a funding path. Completion is expected by end of 2015, subject to approvals.
24 Sept 2015investor presentation● Neutral
Presentation of the 24 September GLNG deals: $42m cash for the Maisey block (about $0.32/GJ of gross 2P), a 20-year gas sales agreement up to 50 TJ/day, and Roma production data. Repeats known terms; FY16 guidance unchanged, FID target 2017.
4 Sept 2015other▼ Bad
S&P Dow Jones Indices will remove Senex from the S&P/ASX 200 after the close on 18 September 2015. Senex stays in the ASX 300 (inference from the ASX 300 list not naming it as a removal).
2 Sept 2015other● Neutral
Beach Energy's monthly drilling report. For Senex it repeats the Fulcrum-1 plug and abandon result (poor reservoir) and Spitfire-7 drilling ahead. The rest covers Beach's non-Senex wells. Nothing new for Senex.
2 Sept 2015drilling result● Neutral
Fulcrum-1 (PRL 136, Senex 60%) reached 1,815 m, found Birkhead oil shows but poor reservoir, and was plugged and abandoned. Spitfire-7 was spudded. Growler-14 is online at 350 bbl/d. Martlet North-1 is expected online in October.
25 Aug 2015annual report▼ Bad
Preliminary final report for FY15: revenue $115.9m (down 32%), statutory loss $80.6m after a $97.0m impairment, underlying profit $5.6m (down 87%). Net tangible assets are $0.35 per share (from $0.42). No dividend. Annual report and AGM due 18 November 2015.
25 Aug 2015annual report▼ Bad
FY15 results: production 1.39 mmboe, revenue $115.9m, underlying profit $5.6m, statutory loss $80.6m after a $97.0m impairment. FY16 guidance is capex $35-45m and production 1.0-1.2 mmboe. Cash is $49m with an undrawn $80m facility. Repeats earlier announcements.
25 Aug 2015investor presentation● Neutral
FY15 results presentation repeating the announced figures: production 1.39 mmboe, underlying profit $5.6m, liquidity $129m. Maintaining financial strength is the stated top priority, with the Western Surat Gas Project prioritised in FY16. No new information.
25 Aug 2015resource reserve update▲ GoodMajor
Net 2P reserves rose 137% to 94.6 mmboe at 30 June 2015 (from 39.9), mostly from the QGC gas swap, with gas 83.3 mmboe. Oil 2P fell to 11.3 mmbbl (from 13.3). 1P fell to 4.3 mmboe. Some Murta reserves were reclassified as contingent because of low oil prices.
21 Aug 2015other▼ BadMajor
Preliminary FY16 outlook: capex guidance $35-45m (FY15 actual $82m) and production guidance 1.0-1.2 mmboe (FY15 1.39). Priority is cash preservation and the Western Surat Gas Project. Cooper Basin spend is cut to $15-20m. Origin free-carries a further $25-35m. This delivers the FY16 plan promised earlier.
