Past year: ▲ 5900%(0.20c – 16.5c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
6 Sept 2013asset acquisition disposition● Neutral
Partner Transerv announced its own letter of intent to sell its 6.8% carried Rimbey interest to Black Swan, mirroring Tamaska's sale. The CPO sale for its remaining interests continues, with CPO still raising funds. It is another party's release.
11 July 2013asset acquisition disposition▼ BadMajor
CPO missed the 8 July deposit deadline for the Duvernay and Rock Creek sale. Tamaska will keep supporting the CPO and Mako process for now but will also begin marketing the assets to other buyers. This undercuts the sale expected to bring in about A$3.6m.
11 July 2013asset acquisition disposition▼ Bad
Transerv reports CPO did not pay the deposit due 8 July. Transerv and Tamaska will keep supporting Mako and CPO for now but will also begin marketing the assets to other buyers. It is a partner's release, matching Tamaska's own.
3 July 2013joint venture update● Neutral
Mako, the other Alberta joint venture partner, says its farm-in terms with CPO are agreed but wait on the CPO deal with Transerv and Tamaska. It also closed CAD$3m bridging finance. It is another company's release and gives no new Tamaska terms.
26 June 2013asset acquisition disposition▼ Bad
Partner Transerv says the CPO sale agreements are settled but CPO asked for more time. An extension was agreed if a 10% deposit is paid by 8 July. It is another party's release; it shows the shared sale still unsigned.
26 June 2013debt financing▼ BadMajor
CPO asked for more time on the Duvernay and Rock Creek sale; Tamaska agreed if a 10% deposit is paid by 8 July. Delay led Tamaska to arrange a A$200,000 loan from two major shareholders to cover working capital until the sale completes or other funding is found.
20 May 2013asset acquisition disposition▼ Bad
The formal sale agreements with CPO for Tamaska's Duvernay and Rock Creek interests (about A$3.6m) missed the April target. Signing is now expected shortly, with a CPO deposit to follow. The delay pushes back the cash the company expected.
13 May 2013flow test result▲ GoodMajor
West Klondike's Wilbert Sons #1 flowed over 2 mmcf of gas a day from the Lower Nod Blan. The well is suspended until facilities and pipeline are installed, taking 4-6 months. This answers the flow-test thread; it was issued by partner Grand Gulf.
6 May 2013well test result▲ Good
Grand Gulf, Tamaska's partner, reports oil flowed to surface when the Lario sand at West Klondike was perforated, confirming the log-based oil pay. The well is being readied for testing the Lower Nod Blan. Contingent resource estimates for the three sands are given.
24 Apr 2013drilling progress report● Neutral
A rig arrived to complete and production-test West Klondike (10.2%), starting with the Lower Nod Blan. If flow is commercial the well will be suspended, with facilities and pipeline taking 4-6 months. Net pay figures are unchanged.
11 Mar 2013half year report● Neutral
Half-year report to 31 Dec 2012: net loss $455,751, versus $1,304,080 a year earlier. It restates known items: Duvernay well cored, Fusselman well at 9,883 ft with 12.5% earned. Text is truncated, so cash and balance sheet are not shown.
5 Mar 2013asset acquisition disposition● Neutral
Transerv, Tamaska's partner in the Alberta joint venture, signed its own term sheet with Canadian Pan Ocean to sell its Duvernay and Rock Creek interests for A$14.076m. It is another party's announcement, but it shows the same conditional CPO sale.
5 Mar 2013asset acquisition disposition▲ GoodMajor
Tamaska signed a term sheet to sell all its remaining Alberta Duvernay (8%) and Rock Creek (16%) interests and its Black Swan carried interests to Canadian Pan Ocean for about A$3.6m. Completion is subject to a formal agreement in April. Total Alberta proceeds would exceed $5.5m against a cost of about $1.3m.
3 Jan 2013drilling result▲ GoodMajor
The Texas Fusselman well reached 9,883 ft and found pay; Tamaska has earned its 12.5%. Gross potential for two wells is 280,000 to 320,000 barrels, below the 350,000 to 450,000 earlier cited. Production is due within 15 days.
21 Dec 2012drilling progress report● Neutral
Fusselman well is drilling at 5,270 ft toward a planned 9,900 ft, about 15 days in total. No results yet.
19 Dec 2012drilling result● Neutral
Black Swan's Duvernay well reached its planned depth of 3,318 m and was logged. Two 27 m cores were recovered. Core analysis will inform whether a horizontal well follows from this location.
18 Dec 2012drilling spud▲ GoodMajor
The Clayton Johnson #3F Fusselman well in Borden County, Texas has spud and is drilling at 2,240 ft toward 9,900 ft. Tamaska earns 12.5% after casing point for about $200,000. Gross potential is 350,000 to 450,000 barrels.
17 Dec 2012drilling progress report● Neutral
Electric logs confirmed West Klondike as a discovery, with net pay of 4 ft in the Lario, 6 ft in the U Nod Blan and 35 ft in the L Nod Blan. Casing was run and flow testing was likely to start that week, with reserve estimates to follow.
13 Dec 2012drilling result▲ GoodMajor
Logs confirm West Klondike as a discovery: 4 ft of net pay in the Lario, 6 ft in the U Nod Blan and 35 ft in the L Nod Blan. Casing is being run for testing; reserve ranges are to follow. Tamaska holds 10.2%.
12 Dec 2012drilling progress report● Neutral
Duvernay well is drilling at 3,185 m, approaching the Duvernay section, with coring expected within the week and about 5 days to total depth.
11 Dec 2012drilling progress report▲ Good
West Klondike found a third gas show, over 47 ft in the L Nod Blan sand, with a fourth being drilled at 10,845 ft. Logs at the 10,900 ft total depth will decide commerciality.
10 Dec 2012drilling progress report▲ Good
West Klondike hit oil shows over 35 ft in the Lario sand and gas shows over 15 ft in the U Nod Blan, at 10,638 ft. Electric logs are needed to judge whether the shows are commercial.
5 Dec 2012drilling progress report● Neutral
Duvernay well is drilling at 2,941 m toward 3,296 m, with about 16 days to go. Mako is now named as a partner. No results yet.
3 Dec 2012drilling progress report● Neutral
West Klondike is drilling at 8,644 ft, with the first main target expected near 9,980 ft. No results yet.
28 Nov 2012drilling progress report● Neutral
Black Swan's Duvernay well is drilling at 2,377 m toward a planned 3,296 m. Tamaska's 3.2% interest is carried. No results yet.
26 Nov 2012drilling progress report● Neutral
West Klondike well is setting casing at 3,000 ft. No results yet; the target depth is 10,900 ft.
22 Nov 2012drilling spud▲ GoodMajor
West Klondike well, Wilberts Sons LLC #1, spudded and is drilling at 925 ft. Tamaska holds 10.2% and pays about US$460,000 to reach 10,900 ft. This ends the delays that pushed the spud back through 2012.
21 Nov 2012drilling scheduled● Neutral
West Klondike well is preparing to spud, with the rig on location and about 30 days expected to reach 10,900 ft. Tamaska's share of well cost is about US$460,000 for a 10.2% interest. Confirms the repeatedly delayed spud is imminent.
19 Nov 2012drilling spud▲ GoodMajor
Black Swan spudded the first Duvernay earn-in well on the Rimbey lands, a vertical test to 3,300 metres, taking about 35 days. Tamaska holds a 3.2% interest in the well and pays nothing. This delivers the carried well promised in the January sale.
26 Oct 2012annual report● Neutral
Re-release of the 2012 annual report already summarised on 27 September. The chairman's letter calls the year transformational and says Black Swan is preparing to drill its earn-in well by December 2012, with West Klondike due to spud in 1-2 months. No new figures in the text provided.
