Past year: ▲ 5900%(0.20c – 16.5c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
25 Jan 2012quarterly activities report● Neutral
December quarter report repeats the C$20m Duvernay and Rock Creek sale, with settlement now expected in late January, and confirms Lyons Point was plugged and abandoned on 24 November. Closing cash was $952k.
13 Dec 2011farm in farm out agreement▲ Good
Partner Mako reports the same letter of intent: 80% of 30 sections sold for C$20m (C$10m to Mako), with a carry on two wells. The buyer is unnamed. Confirms the Tamaska deal; Tamaska's own share is about C$1.6m.
13 Dec 2011farm in farm out agreement▲ GoodMajor
Tamaska and its Alberta partners signed a letter of intent for a Canadian company to buy 80% of 30 sections for C$20m cash (Tamaska's share about C$1.6m), with the partners carried through the first two Duvernay wells. This is the first deal from the Macquarie sale process.
30 Nov 2011other● Neutral
Shareholders approved a name change at the 28 November AGM to Tamaska Oil and Gas Ltd, formerly Kilgore. From 2 December 2011 the ticker changes from KOG to TMK (options KOGO to TMKO, KOGOA to TMKOA).
24 Nov 2011drilling result▼ BadMajor
Logs show the Lyons Point well is not commercial and partners will plug and abandon it. Kilgore's 10% share was a paid US$923,000 dry-hole cost. This resolves the well thread negatively, leaving West Klondike and the Alberta sale as the main hopes.
21 Nov 2011drilling progress report● Neutral
Lyons Point well reached an extended total depth of 16,500 ft, 200 ft deeper than planned, after drilling into what is expected to be the Marg Tex 3 sands. Electric logs will now be run to assess hydrocarbons.
14 Nov 2011drilling progress report● Neutral
Lyons Point well crossed the key trapping fault around 15,000 ft as expected and is drilling slowly through hard shale at 15,758 ft. No reservoir results yet.
7 Nov 2011drilling progress report● Neutral
Lyons Point well is drilling at 15,255 ft, 3-4 days from the first reservoir target at 15,500 ft. No results yet.
31 Oct 2011drilling progress report● Neutral
Lyons Point well has set casing at 14,200 ft and is preparing to drill ahead, about 12 days from the 15,500 ft first target. No results yet.
24 Oct 2011drilling progress report● Neutral
Lyons Point well is drilling ahead at 13,973 ft, about 24 days from the first reservoir target, now given as 15,500 ft. No results yet.
24 Oct 2011annual report● Neutral
2011 annual report. The chairman's letter calls Duvernay and Rock Creek the cornerstone assets, with Macquarie marketing them for a sell-down or farmout, and says West Klondike is due to spud before year end (earlier text said October). Mostly repeats known facts.
17 Oct 2011drilling progress report● Neutral
Lyons Point well is drilling ahead at 12,662 ft, with the first objective at 15,800 ft about 30 days after the final casing at 14,200 ft. No results yet.
14 Oct 2011joint venture update● Neutral
Partner Mako reports the JV, including Kilgore's Warren Energy, bought two more sections (512 ha) of Rock Creek land at a 5 October Crown sale. Mako holds 50% and operates. The rest concerns Mako's own Provost well.
13 Oct 2011quarterly activities report● Neutral
September quarter report repeats known facts: Warren acquisition, the Macquarie process, Lyons Point drilling at about 12,000 ft and West Klondike planned. Notes about $1.08m Alberta acreage cost is repayable from the next capital raising. Cash figures are not in the extract.
10 Oct 2011drilling progress report● Neutral
Lyons Point well is setting intermediate casing at about 12,000 ft, with the first objective still expected at 15,800 ft. No results yet.
3 Oct 2011drilling progress report● Neutral
Lyons Point well is drilling ahead at 11,587 ft, with the first primary objective expected at 15,800 ft. No results yet.
29 Sept 2011annual report● Neutral
Full-year financial report to 30 June 2011 covering the Warren Energy acquisition, the Macquarie sale process (bids October-November 2011) and the new board. Directors Short and Sklenka are shown as resigned (22 Aug for Sklenka). Financial figures are not in the extract.
26 Sept 2011joint venture update▲ GoodMajor
Kilgore confirms Macquarie-Tristone has issued the memorandum formally starting the sale/farmout of its Alberta assets (16% Rock Creek, 8% Duvernay), with bids expected late October. Advances the Macquarie thread from appointment to a live process.
26 Sept 2011drilling progress report● Neutral
Lyons Point well (Kilgore 10%) is drilling ahead at 9,769 ft toward a 16,300 ft target. No hydrocarbon results yet.
26 Sept 2011joint venture update● Neutral
Partner Transerv says Macquarie Tristone has issued the overview memorandum formally starting the sale/farm-out of the Alberta JV's Duvernay and Rock Creek rights, with bids expected late October. Also reports its own British Columbia acquisition, which does not involve Kilgore.
19 Sept 2011drilling progress report● Neutral
Lyons Point well is completing a casing run at 4,016 ft, against a 16,300 ft target. No hydrocarbon results yet.
14 Sept 2011investor presentation● Neutral
September presentation repeats known facts: Canadian assets (8% Duvernay, 16% Rock Creek), Lyons Point and West Klondike wells, and Macquarie sale process targeting Q4 2011. States cash about $1m and 6,396m shares. Charles Morgan is now listed as Chairman.
14 Sept 2011drilling spud▲ GoodMajor
The Pruittet et al #1 well at Lyons Point spudded 13 September 2011 and was at 1,248 ft. Target depth is 16,300 ft, about 45 days. Kilgore holds 10% WI. Resolves the long-awaited spud.
9 Sept 2011farm in farm out agreement● NeutralMajor
Kilgore buys a further 5.2% of West Klondike for about $40,000 of back costs, lifting its interest to 10.2%, at about US$360,000 dry-hole cost. Well due October. Company describes a strategy of testing exploration prospects alongside Canadian farmout.
8 Sept 2011drilling scheduled● Neutral
Operator confirms the Lyons Point well, in which Kilgore holds 10%, will spud early next week, targeting 3 MMBC and 60 BCF. Kilgore's US$923,000 dry-hole share is paid. Spud slipped from the late August expectation.
29 Aug 2011farm in farm out agreement● NeutralMajor
Kilgore swaps 5% of Lyons Point to Grand Gulf for 5% of the West Klondike prospect in Louisiana, keeping 10% of Lyons Point and receiving about $424,000 of prepaid drilling costs. West Klondike targets 2 MMBL and 6 BCF, spud expected October.
29 Aug 2011farm in farm out agreement● Neutral
Partner Grand Gulf's release says it swapped a 5% West Klondike interest for 5% of Lyons Point with Kilgore, leaving Kilgore with 10% of Lyons Point. Well timing now second week of September, versus late August earlier.
18 Aug 2011other● Neutral
Notes that Macquarie Canada published a research report on the Duvernay Shale, with a link on the website. Says Kilgore holds a direct interest in 2,627 hectares there. No new company results.
16 Aug 2011joint venture update▲ GoodMajor
Kilgore confirms Macquarie is advising on a possible farmout or sale of its Duvernay (8%) and Rock Creek (16%) rights, which advances the Duvernay farmout thread. Joint venture added 9 sections; total fairway now 141.53 gross sections (90,579 acres).
16 Aug 2011joint venture update● Neutral
Partner Transerv's release repeats the Macquarie appointment and the 9-section Alberta land purchase. Transerv holds 34% of Rock Creek. Duplicate of Kilgore's own news from another partner.
