19 Nov 2021other● Neutral
Text not readable.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
15 Nov 2021drilling spud● NeutralMajor
Strike spudded the Walyering-5 appraisal well at 16:15 on 14 November 2021 using Ensign Rig 970, and was drilling ahead at 483m. It plans to drill to about 1,010m before running casing; Talon holds 45% of the joint venture.
15 Nov 2021drilling spud● Neutral
Talon notes Walyering-5 spudded on 14 November in EP447 (Talon 45%), targeting 3,138m subsea over about 33 days. It says success could re-rate the larger Condor structure. Repeats Strike's operator news.
2 Nov 2021drilling progress report● Neutral
Operator Strike reports Ensign Rig 970 began moving to Walyering-5 on 1 November. Spud is expected mid-November, with a proposed 33-day drilling and completion campaign to 3,138m subsea.
20 Oct 2021drilling progress report● Neutral
Walyering-5 site works are complete, but the Ensign Rig 970 is still at the Lockyer Deep well 230km north, with about two weeks needed to mobilise once released. The spud has slipped beyond the earlier late-September/early-October expectation.
1 Oct 2021asset acquisition disposition▼ BadMajor
The Rocket (P2392) and Skymoos (P2363) UK North Sea licences expired after extension applications failed, and no farm-out was signed in time. Talon blames COVID delays. This ends the Skymoos/Rocket extension and farm-out threads; other UK licences remain under review.
10 Sept 2021regulatory community update▲ GoodMajor
Mongolia granted the Gurvantes XXXV Exploration Licence on 9 September 2021, for 10 years with a possible 5-year extension. Talon says it is ahead of expectations; the environmental study is still to finish, with drilling expected next quarter and a maiden contingent resource early 2022.
8 Sept 2021investor presentation● Neutral
RIU Good Oil conference presentation, 'Building a next generation energy company'. The visible text is only disclaimers and competent person statements, with no new figures or news.
26 Aug 2021drilling scheduled● Neutral
Strike has started site works for Walyering-5 in EP447, where Talon is earning 45% and says it is fully funded. Spud on Ensign Rig 970 is expected late September to early October, slightly later than the earlier September target. Success could lift the Condor resource (P50 408 Bcf).
18 Aug 2021resource reserve update▲ GoodMajor
Independent assessor NSAI booked a maiden Gurvantes XXXV prospective resource: risked best case 5.96 TCF (unrisked 19.96 TCF) over 2,235 km² of the 8,400 km² area. Talon's 33% share would be 1.97 TCF risked, if the farm-in completes. Still undrilled.
16 Aug 2021asset acquisition disposition● NeutralMajor
Talon takes 60% of GreenFlame Energy, which holds a licence for a patented superheated steam technology to boost coal seam gas recovery while storing CO2. GreenFlame has a conditional deal to buy Strike's 67% of PEL96 (Cooper Basin). Initial work is to be funded from existing cash; field activity is targeted for early 2022.
16 Aug 2021investor presentation● Neutral
Investor presentation on the GreenFlame superheated steam technology acquisition announced the same day. The visible text is a cover note and disclaimers, with no new figures.
28 July 2021regulatory community update▲ GoodMajor
The Gurvantes XXXV PSA was awarded to Telmen at a signing ceremony in Ulaanbaatar on 27 July 2021, resolving the pending award. Talon and Telmen now move to finalise operating agreements, a resource certification and this year's exploration program.
27 July 2021half year report● Neutral
Half-year to 30 June 2021: loss of A$2.31m (A$175k in prior comparison period) and cash up to A$9.50m from A$4.66m at December 2020. Walyering-5 is still due to spud in the September quarter. UK farm-out process is ongoing.
12 July 2021regulatory community update▲ GoodMajor
Mongolia's Cabinet approved the Gurvantes XXXV coal bed methane PSA on 7 July, after COVID delays; formal issue is expected within weeks. To extend Telmen's exclusivity, Talon will issue 100m options at A$0.01, expiring in 3 years. Farm-in agreements are still being prepared.
22 June 2021regulatory community update▲ Good
Talon completed a low-cost airborne electromagnetic survey over the 100%-owned Condor structure, satisfying the SPA-0081 work requirement and allowing later conversion to a longer-tenure permit. Resource estimates are unchanged (P50 408 Bcf; P10 710 Bcf gas, 39 MMbbl condensate). This delivers the survey condition from the Macallum deal.
3 June 2021director officer appointment● Neutral
David Lim, a finance and compliance professional with over 15 years in ASX resources companies, is appointed joint Company Secretary with immediate effect, alongside Lauren Nelson. Administrative.
3 June 2021other● Neutral
Following shareholder approval at the 28 May 2021 AGM, Talon Petroleum Limited became Talon Energy Ltd from 7 June 2021, which it says reflects a move to a more integrated energy company. ASX code stays TPD; constitution amended for the name only.
28 May 2021investor presentation● Neutral
AGM presentation of May 2021 titled 'Building a Diversified Energy Company'. The visible text is only disclaimers and competent person statements, with no new figures or news.
31 Mar 2021other● Neutral
Appendix 4G corporate governance checklist for the 2020 annual report, pointing to the governance statement on the company website. Administrative only, with no new information.
31 Mar 2021annual report● Neutral
Annual report for the year to 31 December 2020. The chairman's letter says the company is fully funded for its 2021 work program after the A$5m raising, which it dates to March 2021. Financial statements are not visible in the truncated text.
25 Mar 2021investor presentation● Neutral
Late-March investor update highlighting the Condor prospective resource already announced on 17 March. The visible text is only disclaimers and competent person statements, with no new figures.
17 Mar 2021resource reserve update▲ GoodMajor
Talon booked a maiden best-estimate (P50) prospective resource of 408 Bcf gas and 20.2 MMbbl condensate at Condor (formerly Muchea), with a high case of 710 Bcf. Chance of success is a low 15%. The formal Macallum agreement has now been signed, replacing the January term sheet.
3 Mar 2021investor presentation● Neutral
March 2021 investor update on 'near term catalysts'. The visible text is only disclaimers and competent person statements, with no new figures.
3 Feb 2021capital raising announcement▲ GoodMajor
Talon gets a binding offer to farm into 33% of the Gurvantes XXXV coal bed methane licence in Mongolia, a new country for the company. It raises A$5m at A$0.004 (about 1.25bn shares; A$1m tranche needs shareholder approval). Licence award is still pending.
3 Feb 2021investor presentation● Neutral
Presentation on the Mongolia South Gobi coal seam gas farm-in announced the same day: 33% interest, 8,400 km² area, and a US$1.5m 2021 exploration program of 3,350m partly cored drilling. It repeats the announced deal and adds a plan to book a first contingent resource.
20 Jan 2021asset acquisition disposition▲ GoodMajor
Talon signed a non-binding term sheet to acquire 100% of the Muchea Structure (EP494, SPA-0081) in the Perth Basin from Macallum, a second Perth Basin asset after Walyering. Terms: A$90k now, 54m shares on formal agreements, then A$350k of shares plus a 1.95% royalty if it proceeds; A$100k fee if not.
4 Jan 2021security holder rights change● Neutral
97.5m unlisted options at A$0.005 lapsed on 31 December 2020. Talon now has 4.35bn shares on issue, plus 1.3bn options at A$0.004 expiring Feb 2022, 300m performance shares and 445m performance rights. Housekeeping only.
21 Dec 2020regulatory community update▲ GoodMajor
Talon has been awarded three new UK Central North Sea exploration licences from the 32nd round, taking it to eight UK licences. It says work commitments are very low and that potential partners have already enquired. This confirms the September offers.
21 Dec 2020investor presentation● Neutral
December 2020 North Sea asset update presentation, published alongside the licence awards. The visible text is only disclaimers and competent person statements, with no new figures.