Past year: ▲ 27%(15.0c – 21.0c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
19 May 2022drilling result▲ GoodMajor
Talon says Walyering-6 hit a new 4m net gas pay in the Cadda Formation and about 21m net pay in the B and C Sands, though the A Sand showed low gas saturation. Drilling is complete; flow testing is expected in June, informing the final investment decision.
16 May 2022other● Neutral
Talon confirms Strike's 16 May Walyering announcement is the one that triggered its 12 May trading halt, and trading resumes. Cover note with no new information itself.
16 May 2022other● Neutral
Text not readable. Title indicates Strike's Walyering appraisal, discovery and testing results; Talon's 16 May and 19 May releases reference it.
16 May 2022drilling spud● Neutral
TMK says drilling has started on Snow Leopard-2, the second of four Gurvantes coreholes, about 5km east of SL-1, to roughly 600m. Two more holes follow over 2-3 months; maiden contingent resource still targeted for 2H 2022.
12 May 2022price query● Neutral
ASX pauses trading in Talon shares pending a further announcement. No reason is given in the notice. Later events show it was tied to Strike's Walyering announcement (inference from the 16 May release).
10 May 2022drilling result▲ Good
TMK reports Snow Leopard-1 finished at 675m with 60m net gassy coal (44.4m upper, 15.5m lower seam). Gas content is trending to the upper end of 7.5-12.5 m3/t, with methane about 96%. Rig moves to Snow Leopard-2.
6 May 2022capital raising announcement▲ Good
Talon completes the A$11m placement at A$0.008, scaling back applications on strong demand; lead managers get a 6% fee. Directors' 24.75m shares (A$198,000) need approval at a June meeting. Hauser expects enough data for a Walyering final investment decision in coming months.
5 May 2022capital raising announcement● Neutral
Talon dispatches offer documents for the A$4m share purchase plan at A$0.008 per share, up to A$30,000 per holder, closing 20 May 2022. Administrative step in the raising announced on 29 April.
3 May 2022flow test result▲ GoodMajor
Strike reports Walyering-5 testing finished after 21 days: the A-Sand flowed 59 mmscfd peak, and the commingled flow peaked at 75 mmscfd (67 stabilised), limited by equipment. Strike is studying lifting plant capacity to 35 mmscfd. This resolves the earlier equipment-limited tests, far exceeding the first 7 mmscf/d.
29 Apr 2022capital raising announcement● NeutralMajor
Talon raises A$11m via placement of 1.375bn shares at A$0.008, a 20% discount to the last price, plus a A$4m share purchase plan. Proceeds fund its share of Walyering development and Mongolia work. CEO Hauser plans to invest A$150,000, subject to approval.
What it means for a shareholder
1.38bn new shares at A$0.008 to raise about A$11.0m. That's 16% dilution: every existing holder's slice gets 16% smaller. If you held A$1,000 of shares (125,000 at the issue price), your slice goes from 0.00178% to 0.00149% of the company. To keep it you'd need 24,470 more shares - about A$196 at the issue price.
Create a free account to see this worked out for your own holding.
29 Apr 2022quarterly activities report● Neutral
March quarter report recaps Walyering-5 flow testing, Walyering-6 drilling, Snow Leopard-1 gassy coal and Hauser's appointment as CEO. Mostly repeats earlier announcements; no new results beyond interim flow data already released.
26 Apr 2022flow test result▲ GoodMajor
Strike reports individual Walyering-5 tests: B-Sand peaked at 33 mmscfd, C-Sand 32 mmscfd (27 stabilised), D-Sand 13 mmscfd, with clean gas. Walyering-6 has begun drilling, at 969m. Builds on the earlier 7 mmscf/d D-Sand flare result.
26 Apr 2022asset acquisition disposition● NeutralMajor
Finder Energy will acquire 100% of Talon's UK licence P2527 (White Bear), conditional on approvals. Talon pays nothing and receives no upfront cash, but gets 12.5% of Finder's gross income from the licence, converting to a 3% production royalty. This advances Talon's UK exit.
21 Apr 2022agm notice● Neutral
Talon begins dispatching documents for its AGM on 26 May 2022 in West Perth, held in person. Administrative notice with a sample shareholder letter.
21 Apr 2022annual report● Neutral
Re-release of the 2021 annual report already lodged on 30 March 2022, with the same content. No new information.
19 Apr 2022investor presentation● Neutral
Investor presentation whose text is mostly unreadable bullets. The only legible item is a 360 Bcf gas and 1.2 mmbbls condensate 2C resource (DeGolyer & McNaughton), which is already known.
14 Apr 2022drilling progress report● Neutral
Talon recaps Walyering-5 flow testing about to start over four weeks, RISC engaged for resource assessment, Walyering-6 spud expected late April, and Snow Leopard-1's 44m gassy coal. Mostly repeats announcements by Strike and TMK.
13 Apr 2022flow test result● Neutral
Strike says formal Walyering-5 flow testing is starting, with the test period extended to up to 28 days. RISC Advisory is appointed to assess reserves and resources after testing. Walyering-6 rig mobilisation begins, with drilling by late April.
11 Apr 2022drilling result▲ GoodMajor
TMK reports Snow Leopard-1 intersected 44m of gassy coal at 406-461m, with preliminary gas content of 7.5-12.5 m3/t and high saturation. Talon is funding the program under the US$4.65m farm-in; a maiden contingent resource is targeted in 2H 2022.
30 Mar 2022other● Neutral
Appendix 4G corporate governance checklist accompanying the annual report, dated 29 March 2022. Administrative filing with no new operational or financial information.
30 Mar 2022annual report● Neutral
Full-year 2021 statutory accounts released. The chairman's letter confirms Colby Hauser appointed MD/CEO in March 2022, replacing David Casey, who is now a non-executive director. It also confirms the UK North Sea exit and the Gurvantes first hole spud, with results expected June 2022.
28 Mar 2022flow test result▲ Good
Talon repeats Strike's Walyering-5 D-Sand result: gas flowing to surface at about 7 mmscf/d, low CO2, zero H2S, with full testing still to come. It says positive tests could allow a resource upgrade and its maiden gas reserve; Walyering-6 is due to spud in May.
25 Mar 2022flow test result▲ Good
Strike reports Walyering-5 preparation complete; the perforated D-Sand flowed wet gas to flare at about 7 mmscf/d (equipment-limited), with 4,516 psi reservoir pressure and negligible CO2. Full testing awaits equipment. Walyering-6 is permitted, with drilling expected in May.
16 Mar 2022drilling spud▲ GoodMajor
Operator TMK reports the first of four Gurvantes coreholes, Snow Leopard 01, spudded 15 March 2022, targeting about 650m over four weeks. Talon funds the program to earn 33%; the other three holes follow over 3-4 months, a first step to converting the 5.96 TCF prospective resource.
9 Mar 2022drilling progress report● Neutral
TMK says the drilling rig is being mobilised to Gurvantes, with the first of at least four cored holes due to start within a week. Talon funds the program under its farm-in to earn 33%, by funding the first US$4.65m.
24 Feb 2022contract award▲ Good
TMK, owner of Telmen, awarded the Gurvantes drilling contract to Ellehcor Drilling for at least four cored holes starting March 2022. Talon funds it under the farm-in, earning 33% by funding the first US$4.65m across two stages. All local approvals are in place.
23 Feb 2022investor presentation● Neutral
TMK Energy, which acquired Telmen and so now owns the Gurvantes project, presents it. Talon's farm-in funds first US$1.5m, with a further US$3.15m stage 2 on election. Drilling is due early March 2022; this mostly repeats known facts.
16 Feb 2022drilling progress report▲ Good
Strike says the Walyering-5 flow test starts after equipment arrives in late February, taking 15-20 days. Core tests show A-Sand permeability up to 280mD. Long-lead items and a rig slot are secured for Walyering-6; development concept is up to 30 TJ/d from two wells.
11 Feb 2022asset acquisition disposition● NeutralMajor
Talon is exiting its UK North Sea exploration portfolio to focus on more advanced projects, relinquishing licences. It is discussing a possible sale of P2727 (White Bear). NED Steve Jenkins steps down in February, and consultants Dorè and Young finish. This ends the UK strategy begun in 2019.
3 Feb 2022regulatory community update▲ Good
Mongolia approved the Gurvantes XXXV environmental impact assessment, clearing the way for drilling. Four cored holes are now expected late February to early March 2022. This is the first step toward converting the 5.96 TCF risked prospective resource to contingent.
