Past year: ▲ 5900%(0.20c – 16.5c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
30 Apr 2021quarterly activities report● Neutral
March quarter: the 20% Talisman Deeps acquisition is complete and Napoleon evaluation is on track, with completion expected in 2-3 months. Cash is about A$2.54m with no debt. West Klondike remains at about 5 bbl a quarter.
15 Mar 2021agm notice● Neutral
Tamaska will hold a General Meeting on 13 April 2021 at 10am in Cottesloe, with proxies due by 11 April. Papers are online only. The text does not state the business, though it is likely linked to the Talisman performance shares (inference).
12 Mar 2021half year report● Neutral
Half-year to 31 December 2020: net loss $254,844 versus $236,129 a year earlier. Notes the 22 February 2021 Talisman Deeps acquisition as a subsequent event and repeats the Parta withdrawal and West Klondike details.
9 Mar 2021investor presentation● Neutral
Technical presentation on the Napoleon prospect in the Talisman Deeps project, where Tamaska holds 20%. It repeats known details: 4,200m target depth, A$45m dry-hole cost, and an independent resource estimate targeted for June 2021. Capital structure would rise to 940m shares.
24 Feb 2021other● Neutral
Compliance notice for the 45,000,000 ordinary shares issued on 24 February 2021 as consideration for the Talisman Deeps interest. Administrative filing allowing those shares to be resold, with no new business information.
22 Feb 2021asset acquisition disposition▲ GoodMajor
Tamaska acquires a 20% interest in the offshore Carnarvon Basin Talisman Deeps project (Napoleon prospect) for 45m shares plus 45m performance shares, no cash. This ends the search for a new project after Parta. Preliminary well cost is A$45m, A$9m its share; it expects about A$250k to reach drill-ready status.
29 Jan 2021quarterly activities report● Neutral
December quarter: cash about A$2.67m, no debt, with the company still seeking a new project after dropping Parta. West Klondike still produces intermittently, about 5 bbl in the quarter. Operating cash outflow was $79,000.
23 Dec 2020security holder rights change● Neutral
70,000,000 performance shares, listed in the company's capital structure, have been cancelled. The notice gives no reason and no cash or other terms. Ordinary shares on issue are not stated as changed.
26 Nov 2020agm notice● Neutral
All five AGM resolutions passed, including the remuneration report, re-election of director Timothy Wise, ratification of placement shares and advisor options, and the extra 10% placement capacity. Votes against were only 76,563 shares. Routine governance outcome.
28 Oct 2020agm notice● Neutral
Tamaska will hold its AGM in person at Cottesloe on 26 November 2020 at 11am. Shareholders are encouraged to vote by proxy because of COVID-19, and papers are online only. Administrative notice, repeating the date already announced.
28 Oct 2020quarterly activities report● Neutral
September quarter: cash about A$2.8m and no debt, with the company seeking a new project after dropping Parta. West Klondike still produces intermittently, about 5 bbls in the quarter. Operating cash outflow was $54,000.
9 Oct 2020agm notice● Neutral
Tamaska will hold its AGM at 11am WST on 26 November 2020; director nominations close 20 October 2020. Administrative notice only.
30 Sept 2020other● Neutral
Appendix 4G for the year to 30 June 2020, pointing to the corporate governance statement on the website. Compliance filing with no new business information.
28 Sept 2020annual report▼ Bad
Year to 30 June 2020: net loss $1,095,863 (2019: $209,387), cash $2.9m. Parta farm-in was abandoned on 8 September 2020 and the company is reviewing new projects. 890m shares on issue, market value about $6.23m at 0.7 cents.
16 Sept 2020listing compliance notice● Neutral
ASX temporarily paused trading in Tamaska shares pending a further announcement. No reason is given in the notice.
16 Sept 2020price query● Neutral
ASX queried an 80% price rise (0.5 to 0.9 cents) and heavy volume on 16 September. Tamaska said it knew of no unannounced information or other explanation and confirmed it is complying with the Listing Rules.
8 Sept 2020farm in farm out completion▼ BadMajor
Tamaska will not proceed with the Parta farm-in, ending its path to a 50% interest in the Romanian licence. It says approvals delayed the seismic and the earn-in period expired. Cash is A$2.7m and it is reviewing other projects.
8 Sept 2020joint venture update▼ BadMajor
Partner ADX says Tamaska's Parta Energy told it on 7 September it will not proceed with the farm-in, after refusing a cash call. ADX says it was surprised, rejects Tamaska's legal basis, reserves its rights and cites US$1.3m outstanding.
31 July 2020quarterly activities report▼ Bad
June quarter: Covid-19 has delayed the Parta 3D seismic, now expected Q4 2020, and drilling follows seismic analysis rather than 2H 2020. Working capital about A$2.9m, with US$1.3m of the farm-in still to pay.
1 May 2020quarterly activities report● Neutral
March quarter: working capital was about A$3.3m, with US$1.3m of the farm-in still to pay. Acoustic Geophysical Services was awarded the seismic contract and 3D acquisition was still expected mid 2020, with drilling still targeted for 2H 2020.
12 Mar 2020half year report● Neutral
Half-year to 31 December 2019: net loss $236,129 versus $112,744 a year earlier. Tamaska now owns 100% of Parta Energy, which holds rights to earn 50% of the Parta licence; repeats known Parta details.
31 Jan 2020quarterly activities report● Neutral
December quarter: about A$3.0m working capital, with US$1.3m of the Parta farm-in still to pay. ADX has contracted Acoustic Geophysical for roughly 100 km2 of 3D seismic, now expected mid 2020 (slipped from Q1), with drilling targeted 2H 2020.
28 Jan 2020capital raising announcement● Neutral
The 15 January placement is complete: 85 million shares issued at 0.6 cents raising $510,000, and 20 million options issued to Peloton's nominee. Shares on issue are now 890,000,000, with 70 million performance shares.
What it means for a shareholder
85.0m new shares at A$0.006 to raise about A$510,000. That's 9.6% dilution: every existing holder's slice gets 9.6% smaller. If you held A$1,000 of shares (166,667 at the issue price), your slice goes from 0.0207% to 0.0187% of the company. To keep it you'd need 17,598 more shares - about A$106 at the issue price.
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28 Jan 2020other● Neutral
Standard secondary trading notice under section 708A for the 85 million placement shares issued on 28 January 2020. Compliance filing with no new business information.
15 Jan 2020capital raising announcement▲ GoodMajor
Tamaska placed 85 million shares at 0.6 cents to raise $510,000 through Peloton Capital, plus 20 million options at 0.8 cents expiring 30 June 2021 for Peloton. Funds go to Parta drilling-target work and working capital; 3D seismic now due Q1 2020.
What it means for a shareholder
85.0m new shares at A$0.006 to raise about A$510,000. That's 9.6% dilution: every existing holder's slice gets 9.6% smaller. If you held A$1,000 of shares (166,667 at the issue price), your slice goes from 0.0207% to 0.0187% of the company. To keep it you'd need 17,598 more shares - about A$106 at the issue price.
Create a free account to see this worked out for your own holding.
13 Jan 2020listing compliance notice● Neutral
ASX temporarily paused trading in Tamaska shares pending a further announcement. No reason is given in the notice.
8 Jan 2020other● Neutral
Release of the board-approved Whistleblower Policy. Governance document with no new business information.
5 Dec 2019admin correction● Neutral
Copy of the new constitution approved by special resolution on 29 November 2019. Administrative filing with no new business information.
29 Nov 2019agm notice● Neutral
All four resolutions carried unanimously on a show of hands at the 29 November 2019 AGM, including the remuneration report, Logan Robertson's re-election, the 10% placement facility and a new constitution. Routine outcome.
5 Nov 2019director officer appointment● NeutralMajor
Joseph Graham (Executive Director, petroleum engineer) and Timothy Wise (Non-Executive) joined the board on 4 November 2019, and Alexander Parks resigned. This follows the Parta deal; the board is now four directors including Brett Lawrence and Logan Robertson.
