Past year: ▲ 5900%(0.20c – 16.5c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
31 July 2017quarterly activities report▼ Bad
June quarter: cash $2.020m, debt free. West Klondike was off production 20 May to 27 June due to flooding, produced 348 bbls gross, and now yields about 10 bopd. Fusselman has no other zones to complete and will be abandoned.
1 May 2017quarterly activities report▼ Bad
March quarter: cash $2.072m, debt free. West Klondike went on production 17 April 2017 after a gas pipeline was needed to power the jet pump, but is making only about 20 bopd, well below the 100+ bopd expected. Fusselman judged no longer commercial; abandonment possible.
8 Feb 2017half year report● Neutral
Half-year to 31 Dec 2016 net loss was $98,227, down from $355,447 a year earlier. Cash $2.144m, debt free. West Klondike's late-December mini-frac lifted inflow to about 9 bbl/hr; continuous production at 100-200 bopd gross is anticipated. Fusselman was hit by cold weather downtime.
31 Jan 2017quarterly activities report▲ Good
December quarter: cash $2.144m, debt free. Oleum's acid wash and late-December mini-frac lifted West Klondike inflow to about 9 barrels an hour in a short test, with continuous production expected in January 2017 at over 100 bopd gross. Still seeking a new project.
9 Dec 2016admin correction● Neutral
Share registry Automic is moving its Perth office to 267 St Georges Terrace from 9 December 2016. Administrative notice with no effect on the company's business.
30 Nov 2016agm notice● Neutral
All resolutions carried at the 30 November 2016 AGM, including the remuneration report, re-election of Robertson and Lawrence, and the 10% placement facility. Routine outcome with no new developments.
28 Oct 2016quarterly activities report● NeutralMajor
September quarter: cash $2.243m. Oleum Operating acquired 76.7% of West Klondike and operatorship after the failed Lario completion, and began work on 18 October to acid-wash the Lario oil zone. Fusselman output dropped considerably, with abandonment possible if profitable production cannot be restored.
28 Sept 2016annual report● Neutral
Annual report to 30 June 2016. The Managing Director says Tamaska has kept its cash and a clean balance sheet while awaiting an industry recovery and a new project, and calls the Montney demerger a solid strategy. Text is truncated, so financial results are not shown.
28 Sept 2016other● Neutral
Appendix 4G and corporate governance statement for the year to 30 June 2016, pointing to the company's website statement. Compliance filing with no new business information.
29 July 2016quarterly activities report● Neutral
June quarter: cash $2.28m, debt free, still seeking a new project. Fusselman was down after pump rods broke, restarting 10 June as mostly water. West Klondike had flooding downtime and a Lario completion attempt that was restricted; another is planned in September.
11 July 2016director officer appointment● NeutralMajor
Logan Robertson joins as Non-Executive Director from Hoperidge Capital, the Jones family office and one of Tamaska's largest shareholders. Justin Norris resigned, and Brett Lawrence moved to non-executive. This brings a major holder's representative onto the board, replacing the Havoc-linked Norris.
2 May 2016quarterly activities report● Neutral
March quarter: cash $2.3m, debt free, still evaluating new business. Fusselman pump rods broke, needing an April workover. West Klondike remains shut in with the Lario recompletion pending. Board continues reduced hours and fees to preserve working capital.
16 Mar 2016half year report● Neutral
Half-year to 31 Dec 2015 shows a net loss of $355,447, down from $1,384,098 a year earlier. The review repeats the Montney demerger rationale and Fusselman and West Klondike updates. Text is truncated, so the balance sheet is not shown.
28 Jan 2016quarterly activities report● Neutral
December quarter: debt free with cash of $2.415m after the 20 Oct 2015 demerger and $2.14m rights issue, and the further 175m-share placement now taking shares to 1.96bn. Still evaluating new business. West Klondike's thin gas zone depleted and the well is shut in, with the Lario oil zone recompletion planned next.
25 Nov 2015agm notice● Neutral
All resolutions carried at the 25 November 2015 AGM, including the remuneration report, re-election of Lawrence and Norris, and the 10% placement facility. Routine outcome with no new developments.
25 Nov 2015other● Neutral
Substantial holder notices from the shortfall placement. Hoperidge Enterprises (Jones Family) rose from 205m shares (15.64%) to 355m (19.89%) after taking 150m shares. A second notice shows Raymond Jepp ceasing to be a substantial holder.
20 Nov 2015capital raising announcement▲ GoodMajor
The 474m-share shortfall is placed, so the full $2.142m was raised at 0.2c before costs, giving 1.785bn shares. A further 175m shares at 0.2c ($350,000) will follow, taking shares to 1.96bn. Unlisted options now stated at 0.92c.
What it means for a shareholder
175m new shares at A$0.002 to raise about A$350,000. That's 8.9% dilution: every existing holder's slice gets 8.9% smaller. If you held A$1,000 of shares (500,000 at the issue price), your slice goes from 0.028% to 0.0255% of the company. To keep it you'd need 49,020 more shares - about A$98 at the issue price.
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11 Nov 2015capital raising announcement● Neutral
Entitlement offer closed with holders taking up 596.9m shares ($1.19m, 55.74%). Shortfall is 474m shares, with applications for about 400m received. Tamaska will try to place the rest.
30 Oct 2015quarterly activities report▼ Bad
September quarter: cash fell to $0.27m after Tamaska gave TMK Montney the maximum possible working capital. West Klondike recompletion of the lowest zone failed because it was depleted; Fusselman about 17 bopd gross. Montney was 24,745 net acres at demerger.
30 Oct 2015capital raising announcement● Neutral
Prospectus for the 3-for-2 entitlement issue at 0.2c, raising up to $2,142,000 before costs, was dispatched to holders on the 27 October record date. Administrative step with no new terms.
26 Oct 2015annual report● Neutral
Printed 2015 annual report repeating the 24 September financial report, including the Managing Director's letter on the Montney demerger. No new substance in the text shown.
21 Oct 2015asset acquisition disposition● NeutralMajor
The demerger of the Canadian assets is complete. Holders on the 8 October record date received one TMK Montney share per 10 Tamaska shares. Tamaska no longer holds the Montney project it built up since 2014. Final ATO ruling expected about 4 November.
19 Oct 2015capital raising announcement● NeutralMajor
Prospectus lodged for a renounceable entitlement issue of 3 new shares for every 2 held at 0.2c, raising up to $2,142,000 before costs. Offer closes 10 November. This is the rights issue flagged with the demerger.
1 Oct 2015regulatory community update▲ Good
Tamaska received the draft ATO class ruling on 30 September, so the demerger proceeds. Record date is 8 October, with completion by 23 October. Final ruling is expected about 4 November. This resolves the earlier timing uncertainty.
28 Sept 2015annual report● Neutral
Annual financial report to 30 June 2015. The Managing Director's letter says the JV holds 92 land sections in the Montney and explains the demerger, which shareholders approved on 15 September. Text is truncated, so financial results are not shown.
21 Sept 2015regulatory community update● Neutral
Shareholders approved the Montney demerger on 15 September. The timetable is revised pending a draft ATO ruling, now targeted for 5 October, with completion and distribution of TMK Montney shares on 23 October 2015.
19 Aug 2015security holder rights change● Neutral
The unmarketable parcel sale finished: 8,805,677 shares sold for $38,028 (average $0.0043). The 32.6m listed $0.50 options expired on 17 August 2015, as flagged earlier. Administrative closure of both items.
10 Aug 2015asset acquisition disposition● NeutralMajor
Tamaska plans to demerge its 40% Montney project into unlisted TMK Montney, giving holders 1 share per 10 held (A$4.86m book value, 0.68c per share), subject to shareholder and ATO approval. A rights issue of up to $2.14m at 0.2c, 3 for 2, is planned afterwards.
3 Aug 2015quarterly activities report● Neutral
Re-issue of the 31 July June-quarter report with an amended header; the text shown repeats the earlier figures: 20,626 net Montney acres for about A$3.4m, cash $0.8m, West Klondike shut in since 15 June. No new substance.
31 July 2015quarterly activities report▼ BadMajor
June quarter: cash fell to $0.8m. Montney holding is 20,626 net acres for about A$3.4m. West Klondike was shut in on 15 June due to water encroachment, with a shallower gas zone to be tried in August. Fusselman is about 20 bopd gross.
