Past year: ▲ 27%(15.0c – 21.0c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
30 May 2023drilling result▲ GoodMajor
Talon reports all three Gurvantes pilot wells finished safely, on time and on budget, each with at least 60 m of gassy coal. Pumps and facilities go in during June, and first gas is conservatively expected one to two months after pumping starts. Gas rates are still untested.
30 May 2023investor presentation● Neutral
Managing Director's AGM presentation slides. Only the disclaimer is visible in the text provided, so no new figures or results can be reported.
30 May 2023drilling result▲ Good
Operator TMK completes Lucky Fox-3, with about 68 m of gassy coal, the thickest of the three pilot wells. The drilling program finished safely, on time and on budget. Pumps and surface facilities follow, with early July completion expected before production testing.
19 May 2023drilling spud● Neutral
Lucky Fox-3, the final Gurvantes pilot well, began drilling on 18 May and should take about two weeks. The first two wells each found roughly 60 m of gassy coal. Pump installation is planned for June, with commissioning in July.
19 May 2023regulatory community update● Neutral
Responding to an ASX request, Talon adds detail on the Santos condensate deal: there are no minimum or maximum delivery obligations, and Santos may accept condensate only if capacity is available. The agreement runs from 15 May to 31 December 2023, with no conditions precedent.
17 May 2023material agreement▲ Good
Operator Strike announces condensate processing and sales agreements with Santos for Walyering liquids, forecasting over A$10M a year gross from 250 bbl/d at US$75 Brent. Start-up is still targeted within the half. Talon issued its own release the same day.
17 May 2023material agreement▲ GoodMajor
Talon (45%) confirms a condensate processing and sales deal with Santos, a route to market for Walyering liquids beyond the December gas sales deal. The JV expects over A$10M a year gross revenue at US$75 Brent. The Safety Case is now accepted; start-up is still targeted for 1H 2023.
16 May 2023drilling result▲ Good
Lucky Fox-2 reached 407 m, intersecting about 62 m of gassy coal, on time and on budget. The rig moves to Lucky Fox-3, the final pilot well; first gas is expected one to two months after pumps start.
5 May 2023admin correction● Neutral
Re-lodges the March quarter Appendix 5B on the current template. Cash flows are unchanged, but funding available is restated from 2.15 to 4.46 quarters because certain non-current asset payments are now excluded from the calculation.
5 May 2023drilling spud● Neutral
Operator TMK started drilling Lucky Fox-2, the second of three Gurvantes pilot wells, on 3 May. Drilling and pump installation are expected to finish towards end of June, then a six-month production test. Talon (33%) is funding the first US$3.15M.
28 Apr 2023investor presentation● Neutral
Investor presentation, with most text unreadable. It notes timelines are subject to rig availability and joint venture decisions, and includes a prospective resource cautionary statement and Gurvantes references. No new figures visible.
27 Apr 2023investor presentation● Neutral
Notice that CEO Colby Hauser will present at a ShareCafe small-cap webinar on 28 April 2023. Notice only, with no new results.
27 Apr 2023drilling result● Neutral
Operator TMK's version of the Lucky Fox-1 result: 375 m total depth with about 60 m of net coal, on time and on budget. Remaining two wells take about five weeks. TMK says it is well funded, including a recent A$5.7M raising.
27 Apr 2023drilling result▲ Good
Lucky Fox-1 reached 375 m total depth on 26 April, on time and on budget, intersecting 60 m of gassy coal in the production interval. The rig moves to Lucky Fox-2. Gas flow rates are not yet known; they await the production test.
13 Apr 2023drilling spud▲ Good
Operator TMK spuds Lucky Fox-1 on 12 April 2023, the first of three Gurvantes pilot production wells. The three wells are expected to take about seven weeks, followed by a six-month production test. Talon holds 33% and is funding the first US$3.15M.
11 Apr 2023annual report● Neutral
Appendix 4G corporate governance checklist for the year ended 31 December 2022, lodged with the annual report. Administrative compliance form with no new business information.
6 Apr 2023capital raising announcement▲ Good
The share purchase plan closed oversubscribed, with A$2,265,425 in applications, all accepted in full. Shares are due to be issued on 13 April 2023. This completes the March raising, which also included the A$12M placement at A$0.145.
3 Apr 2023drilling scheduled▲ Good
Operator TMK says the rig is mobilising for the Gurvantes pilot program, with all permits in place and drilling of three wells due to start mid April, taking about seven weeks. A six-month production test follows. Talon is paying the first US$3.15M of ~US$3.5M.
3 Apr 2023director officer appointment● NeutralMajor
Greg Columbus, formerly chair of Warrego Energy, becomes independent non-executive chairman from 3 April 2023. Doug Jendry will resign from the board at the May AGM after a handover. Jendry says market cap rose from A$9M to about A$90M since late 2020.
31 Mar 2023annual report● Neutral
Talon's 2022 annual report restates a year of progress: Walyering FID with first production expected in the first half of 2023, and the ~1.2 Tcf Gurvantes 2C resource (~400 Bcf attributed to Talon). Text is truncated, so financial figures are not visible here.
30 Mar 2023capital raising announcement● Neutral
ASX grants waivers allowing the A$2M share purchase plan to proceed less than 12 months after the March 2022 plan, without using placement capacity. Related parties can join without shareholder approval. Regulatory housekeeping on the existing raise.
27 Mar 2023resource reserve update▲ GoodMajor
Talon reports preliminary L7 prospective resources for three gas prospects, each over 50 Bcf best case; Booth is 279 Bcf gross (69.8 Bcf net to Talon's 25%). Two best prospects are targeted for drilling in 2024, possibly early 2024. This updates the earlier 617 Bcf Triangle estimate for L7.
27 Mar 2023resource reserve update▲ GoodMajor
Operator Triangle's interpretation of the Bookara 3D seismic high-grades four 2024 drilling candidates: three gas prospects in L7 (best case 393 Bcf gross, unrisked prospective) and the Becos oil prospect in EP437 (5 MMbbl). This follows Talon's March farm-in for 25%.
27 Mar 2023joint venture update● Neutral
Partner NZOG says the operator's first look at the Bookara 3D seismic is in line with expectations and has refined several drillable prospects in L7 and EP437. Its farm-in completion is still subject to regulatory conditions. Largely repeats Triangle's release, with no new figures.
20 Mar 2023material agreement▲ Good
Operator TMK signs a cooperation deal with mining group MAK to buy electricity made from Gurvantes pilot-well gas, and to reuse produced water. This gives a route to power sales instead of flaring, subject to approvals. Talon holds 33%.
14 Mar 2023investor presentation● Neutral
Webinar presentation after the capital raising. Mostly unreadable text, but it states Talon is fully funded for Perth Basin and Mongolian activities, with timelines subject to rig availability. No new events visible.
14 Mar 2023capital raising announcement● Neutral
Cover letter opening the Share Purchase Plan: eligible shareholders can buy A$2,000 to A$30,000 of shares at A$0.145, closing 4 April 2023. Targets A$2M, with scale-back possible. Administrative; terms were announced on 3 March.
14 Mar 2023joint venture update● Neutral
Talon repeats Strike's Walyering update: Environmental Plan approved, construction about 6 weeks, production expected in April. Gross upstream costs rise to about A$19.2M plus A$3.8M for the APA pipeline connection. Safety case still pending.
14 Mar 2023capital raising announcement● Neutral
SPP offer booklet repeating the terms: A$0.145 per share, A$2,000 to A$30,000, targeting A$2M. It confirms the 82,758,621 placement shares were issued on 13 March 2023. Funds go to Walyering and Perth Basin exploration.
14 Mar 2023joint venture update● Neutral
Operator Strike says the Walyering Environmental Plan is approved, with construction about 6 weeks and first gas expected in April. Upstream cost estimate is now A$19.2M, with APA's pipeline scope A$3.8M. Only the safety case remains outstanding.
