Past year: ▲ 27%(15.0c – 21.0c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
27 Nov 2018investor presentation● Neutral
Director Matt Worner's shareholder letter restates the UK North Sea strategy and the 10% Curlew-A interest (4.5 mmboe net 2C). New: Talon has bid in the UK 31st Seaward Licensing Round for a drill-ready prospect; the outcome is not known until 2Q 2019.
31 Oct 2018quarterly activities report● Neutral
September 2018 quarter net production was 304 boe, down from 474. Cash ended at A$1.75m, with about A$2.4m held after the A$720k placement. Talon books 4.5 mmboe net contingent resource from its 10% Curlew-A farm-in, and says more North Sea assets are under review.
26 Oct 2018farm in farm out agreement▲ GoodMajor
Talon agreed to earn a 10% interest in UK North Sea Licence P2396 from Corallian, containing the Curlew-A discovery (45 mmboe gross 2C contingent resource). Appraisal well planned 3Q 2019; net cost about A$3.2m at cap. It also placed 240m shares at A$0.003 to raise A$720k.
24 Oct 2018listing compliance notice● Neutral
ASX paused trading in Talon's securities pending a further announcement. The text gives no reason; it was followed two days later by the North Sea farm-in and placement.
12 Sept 2018half year report● Neutral
Half-year to 30 June 2018 loss was A$327,212 (A$287,137 a year earlier) on sales of A$55,840. Cash was A$1.96m. The company is preserving funds until suitable assets are found; the AGM on 24 May passed all resolutions.
27 July 2018quarterly activities report● Neutral
June 2018 quarter net production was 474 boe, down from 522. Cash fell to A$1.96m from A$2.14m on A$181k operating outflow. The new-asset search continues with no deal; the Gambia and lease dispute are not mentioned.
18 May 2018director officer appointment● Neutral
Director Troy Harry, described earlier as the largest shareholder, will resign at the end of the 24 May 2018 AGM. No reason is given in the text.
27 Apr 2018quarterly activities report● Neutral
March 2018 quarter net production was 522 boe, up from 447. Cash ended at A$2.14m after the A$300k loan repayment. The Gambia shortlisting is repeated, and the lease dispute has no new developments.
26 Apr 2018regulatory community update▲ GoodMajor
Talon says a Gambian ministry website notice lists it as shortlisted for the next stage of a six-block licensing round, alongside CNOOC, Total, Woodside and others. It is a competitive bid with no guarantee of an award. This is the first concrete step in the post-raising new-asset search.
29 Mar 2018other● Neutral
Appendix 4G corporate governance checklist lodged with the annual report. Compliance paperwork with no new information on operations or finances.
29 Mar 2018annual report● Neutral
2017 annual report: the single asset remains MR Olmos (~3,620 acres). Independent NSAI 3P reserves were 46 mboe at 31 Dec 2017, versus 47 mboe a year earlier. The A$2.3m placement is described as positioning Talon to source new assets.
31 Jan 2018quarterly activities report▲ GoodMajor
December 2017 quarter net production was 447 boe, down slightly from 484. The placement closed 22 December at A$2.3m (766.7m shares at A$0.003), above the A$1.9m proposed, and funds the A$300k loan repayment and a review of MR Olmos. Lease dispute unchanged; Quintanilla acreage termination is contested.
15 Jan 2018director officer appointment● Neutral
Lauren Nelson became Company Secretary from 15 January 2018, replacing Peter Love, who stays as Chairman and non-executive director. Administrative handover.
4 Dec 2017director officer appointment● NeutralMajor
Following the shareholder meeting, Roger Steinepreis and Matthew Worner joined the board, and Peter Evans resigned as planned. This completes the board restructure flagged with the October capital raising. Both new directors hold no shares per their notices.
31 Oct 2017quarterly activities report▼ Bad
September 2017 quarter net production was 484 boe, down from 706. The lessor dispute is unresolved, and a request for partial termination of the Quintanilla lease arrived after quarter end. The proposed capital raising and board changes await shareholder approval.
18 Oct 2017other● Neutral
Computershare notice that its Brisbane office moves address from 1 November 2017. Administrative; nothing specific to Talon.
9 Oct 2017capital raising announcement● NeutralMajor
Talon plans to raise up to A$1.9m by placing up to 633m shares at A$0.003, plus 90m options at A$0.005, with director Troy Harry taking A$300,000. Funds retire his A$300,000 debt and review MR Olmos. Subject to shareholder approval; Evans exits and Worner and Steinepreis join the board.
18 Sept 2017listing compliance notice● Neutral
ASX lifted the trading suspension from 18 September 2017 after the half-year report was released. This resolves the suspension.
15 Sept 2017half year report▼ Bad
Half-year to 30 June 2017 loss was A$287,137 (A$292,330 a year earlier); oil and gas sales were A$58,213. The lessor replied on 13 September, maintaining its position and requiring the leases be returned. The sale process remains delayed.
14 Sept 2017listing compliance notice▼ Bad
Talon says its half-year report is delayed, expected early in the week of 18 September, and the shares stay suspended until it is released. Explains the suspension notice issued the same day.
14 Sept 2017listing compliance notice▼ BadMajor
ASX suspended Talon's shares after it failed to lodge half-year accounts for the period to 30 June 2017 on time.
31 July 2017director officer appointment● Neutral
Director and Company Secretary Andrew Crawford resigned. Troy Harry, sole director of Rocket Science Pty Ltd, described as the largest shareholder, joined the board. Chairman Peter Love also became Company Secretary.
31 July 2017quarterly activities report▼ BadMajor
June 2017 quarter net production was 706 boe, up from 434. The lessor dispute continues, and Talon has delayed the PLS Inc sale launch until it can give buyers clearer advice on lease status. Quarterly cash figure not shown in the text provided.
4 July 2017regulatory community update▼ BadMajor
A lessor has written disputing Talon's leasehold position on specific MR Olmos leases. Lawyers cannot yet say whether the roughly 3,620 net acres are affected. This puts at risk the sole asset the board has been trying to sell.
30 May 2017investor presentation● Neutral
AGM presentation mostly repeating known facts. Share price A$0.007, market cap A$1.8m; Trojan Capital Fund now 22.2%. MR Olmos is to be listed with PLS Inc in June 2017, with firm offers going to shareholders if they value the asset appropriately.
28 Apr 2017quarterly activities report● Neutral
March 2017 quarter net production was 434 boe, down from 621 boe. Cash rose to A$561k from A$401k because of A$275k of borrowings, the first debt since the company was described as debt free. Quintanilla is about 32 bopd gross.
29 Mar 2017admin correction● Neutral
Appendix 4G corporate governance key accompanying the 2016 annual report, pointing to the governance statement on pages 8 to 14. Administrative; no new substance.
29 Mar 2017annual report● Neutral
2016 annual report. NSAI puts total 3P reserves at 47 mboe net, all at MR Olmos. Chairman says talks with potential acquirers and joint venture partners have not reached a binding stage; no new shares were issued in 2016.
27 Jan 2017quarterly activities report● Neutral
December 2016 quarter net production was 621 boe, down from 540 in the prior quarter? No: up from 540 boe. Quintanilla is about 28 bopd gross. Cash fell to A$401k from A$453k, with no new funding. MR Olmos remains the only asset.
28 Oct 2016quarterly activities report● Neutral
September 2016 quarter net production was 540 boe, down from 647 boe. Quintanilla is about 38 bopd gross. Cash fell to A$453k from A$569k, with no new funding. No sale of MR Olmos reported.
