Past year: ▲ 5900%(0.20c – 16.5c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
11 Apr 2022drilling result▲ GoodMajor
Snow Leopard-1 intersected about 44m of gassy coal between 406m and 461m. Preliminary desorption shows high gas content (7.5-12.5 m3/t) and saturation, a first positive result for the Gurvantes model; permeability not yet tested.
11 Apr 2022listing compliance notice● Neutral
TMK tells ASX it held unannounced drilling information, but judged it too uncertain to release earlier. Snow Leopard-1 hit coal at 406m on 2 April; the rig stopped 4 April for repairs and resumed 7 April. Company confirms it complied with the Listing Rules.
7 Apr 2022listing compliance notice● Neutral
At TMK's request, shares are suspended from 8 April 2022 pending an operations update on Snow Leopard-1 and a reply to ASX's price and volume query. Company says it was drilling the upper coal seam.
6 Apr 2022listing compliance notice● Neutral
ASX pauses trading in TMK shares pending a further announcement. No reason is given in the text (an ASX price query was issued the same day).
16 Mar 2022drilling spud▲ GoodMajor
Snow Leopard-1, the first of four Gurvantes XXXV wells, spudded 15 March 2022, targeting about 650m over four weeks. Three more holes follow over 3-4 months; maiden contingent resource targeted for 2H 2022. Talon's US$1.5m funds this stage.
14 Mar 2022half year report● Neutral
Net loss for the half-year to 31 December 2021 was $519,227, against $252,983 a year earlier. The report said the Telmen acquisition completed on 15 February 2022 with the $1.96m raise committed, but none of the performance share hurdles had been met at completion.
9 Mar 2022drilling scheduled● Neutral
Drilling rig is being mobilised to Gurvantes XXXV, with camp under construction and drilling due to start within a week. Four-well program is Talon-funded; no new results or changes to known facts.
24 Feb 2022contract award▲ Good
TMK signs Ellehcor Drilling Services to drill at least four cored wells at Gurvantes XXXV from March 2022, with all local approvals in place. Talon funds the program under the farm-in (33% for US$4.65m); first step towards converting the 5.96 TCF prospective resource.
23 Feb 2022investor presentation● Neutral
Presentation on the Gurvantes XXXV acquisition repeating known facts: 5.96 TCF 2U prospective resource, 8,400 km2, drilling from March 2022, Talon funding stages 1 and 2, and about A$3.8m cash.
16 Feb 2022other● Neutral
Company name changes to TMK Energy Limited, effective 15 February 2022, following shareholder approval. Administrative follow-through from the Telmen deal.
15 Feb 2022asset acquisition disposition▲ GoodMajor
Telmen acquisition completes: 1.6bn shares and 1.6bn performance shares issued, plus a 245m-share placement at 0.8c raising A$1.96m. Shares on issue reach 2.88bn. Cash is about A$3.8m. Brendan Stats becomes CEO, Brett Lawrence steps down as MD, Logan Robertson resigns. Talon funds the first US$1.5m of work.
11 Feb 2022agm notice▲ Good
All 15 resolutions carried at the 11 February 2022 meeting, including the Telmen acquisition, share issues, new directors and the company name change. Approval clears the way for completion of the Telmen deal.
3 Feb 2022regulatory community update▲ Good
Mongolia approves the environmental assessment for Gurvantes XXXV, clearing the last approval before field work. A four-hole drilling program is scheduled for late February to early March 2022. Telmen completion is expected around 14 February if shareholders approve.
31 Jan 2022agm notice● Neutral
All three annual meeting resolutions carried: remuneration report, 10% placement capacity, and re-election of Logan Robertson. Routine.
31 Jan 2022quarterly activities report● Neutral
December quarter: the Telmen acquisition is pending a shareholder meeting on 11 February 2022, with the A$1.96m raise committed. Cash about A$1.97m at 31 December 2021, no debt.
20 Dec 2021other● Neutral
Share registry Automic notifies that its Perth office has moved. Administrative, with no company impact.
16 Dec 2021asset acquisition disposition▲ GoodMajor
Binding term sheet to buy 100% of Telmen Energy, holder of the Gurvantes XXXV coal seam gas project in Mongolia (5.96 TCF 2U prospective resource), for 1.6bn shares plus 1.6bn performance shares. A A$1.96m raise of 245m shares accompanies it. Needs due diligence and shareholder approval. It adds a second asset beside Napoleon.
16 Dec 2021listing compliance notice● Neutral
Trading resumes on 16 December 2021 after the Telmen acquisition announcement. Administrative.
15 Dec 2021listing compliance notice● Neutral
At the company's request, shares are suspended pending an acquisition announcement, expected to lift by 16 December 2021. Procedural step preceding the Telmen deal.
13 Dec 2021listing compliance notice● Neutral
ASX temporarily pauses trading in the shares pending a further announcement. No reason is given in the text.
1 Dec 2021agm notice● Neutral
The annual general meeting is delayed to 31 January 2022. Director nominations close 14 December 2021. Administrative notice.
2 Nov 2021annual report● Neutral
Appendix 4G corporate governance checklist for the year to 30 June 2021, pointing to the governance statement on the company website. Administrative, with no new business information.
29 Oct 2021other● Neutral
Compliance notice for 45,000,000 ordinary shares issued on 28 October 2021, which the title links to the Talisman performance shares (inference: the performance shares converted). Administrative filing allowing resale; no new business information.
19 Oct 2021quarterly activities report● Neutral
September quarter: repeats the ERCE Napoleon estimate (197T mean 1,528 Bcf gas, 24% chance of success) and the plan to seek a drilling permit and farm out. Cash about A$2.27m at 30 September 2021, no debt.
4 Oct 2021resource reserve update▲ GoodMajor
ERCE certifies Napoleon's main 197T target at a mean 1,528 Bcf gas and 66m barrels condensate (gross, unrisked), with a 24% chance of success. This ends the long wait for the estimate. Next: drilling permit, convert to a direct 20% interest, and farm out the 80% to fund a A$41.1m well.
24 Sept 2021annual report● Neutral
Year to 30 June 2021: net loss $574,165 (2020: $1,095,863), cash A$2.4m. The independent Napoleon resource report from ERCE is still awaited. 945m shares on issue, market value about $8.5m at 0.9 cents.
30 July 2021quarterly activities report● Neutral
June quarter: Napoleon technical work is nearly complete, and the independent prospective resource estimate is now expected in Q3, later than the end of July flagged on 11 June. Cash about A$2.4m, no debt. West Klondike about 5 bbl.
16 June 2021director officer appointment● Neutral
Executive director Joseph Graham resigned effective 15 June 2021. His final interest notice shows 30,000,000 shares held through Jafrag Pty Ltd. No reason or replacement is given.
11 June 2021drilling progress report▲ Good
Napoleon 3D seismic reprocessing is complete, showing improved imaging and signs of hydrocarbon charge. Geochemical modelling suggests most likely gas with substantial condensate. ERCE will produce an independent prospective resource estimate by end of July 2021.
11 June 2021investor presentation● Neutral
Technical presentation on Napoleon for the PESA Deal Day, repeating the 11 June update: reprocessing complete, target depth about 4,100-4,200m, preliminary dry-hole cost A$45m, and resource estimate targeted for July 2021.
