Past year: ▼ 50%(0.10c – 0.20c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
13 Aug 2026auditor change● Neutral
Moore Australia Audit (WA) appointed auditor on 13 August 2026, replacing Hall Chadwick, which resigned with ASIC consent. The board cited experience and competitive fees. Shareholders will vote to ratify the appointment at the 2026 AGM.
31 Mar 2026annual report● Neutral
Annual report for 2025: production averaged 72 boepd (73 in 2024) and revenue was US$1.44M versus US$1.85M, as oil price averaged US$65.37 versus US$77.18. Varn 30% was farmed out and JVU-4 drilled after year end. Financial statements are truncated.
31 Mar 2026annual report● Neutral
Appendix 4G key to the corporate governance statement for the 2025 year, with the statement on the company website. Administrative filing with no new substance.
23 Mar 2026material agreement● NeutralMajor
Winchester signed a binding term sheet to join a Triangle Energy offshore Indonesia joint study (about US$300k, 6-8 months), with an option on 24.5% of any PSC awarded. It will lend Triangle A$500k as bond collateral, and took A$250k loans each from Peterson's Celtic Capital and McGoldrick to help with study costs.
19 Mar 2026drilling spud● Neutral
Drilling began 18 March 2026 on JVU-4, the first water injection well in the Varn waterflood (Winchester 70%, operator). Target depth is 4,900ft, about 12 drilling days. Water injection follows completion, the next step in the waterflood plan.
17 Dec 2025capital raising announcement● Neutral
Cleansing prospectus offering up to 10,000 shares at A$0.001 (raising up to A$10), issued only to remove trading restrictions on shares from the December placement. No new funds of substance.
What it means for a shareholder
10,000 new shares at A$0.001 to raise about A$10. That's 0.00116% dilution: every existing holder's slice gets 0.00116% smaller. If you held A$1,000 of shares (1,000,000 at the issue price), your slice goes from 0.116% to 0.116% of the company. To keep it you'd need 12 more shares - about A$0 at the issue price.
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8 Dec 2025admin correction● Neutral
Corrects the placement size: firm commitments are A$350,000 (350M shares at A$0.001), not A$300,000, with 205M shares under existing placement capacity. No other terms change.
8 Dec 2025capital raising announcement● NeutralMajor
Winchester announced a placement of A$300,000 at A$0.001 per share (300M shares), led by CPS Capital, to fund new growth opportunities and working capital. CEO McGoldrick (A$45k) and former director Peterson (A$100k) take part, subject to shareholder approval. Corrected in the next announcement.
What it means for a shareholder
300m new shares at about A$0.001 to raise about A$300,000. That's 26% dilution: every existing holder's slice gets 26% smaller. If you held A$1,000 of shares (1,000,000 at the issue price), your slice goes from 0.116% to 0.0859% of the company. To keep it you'd need 347,300 more shares - about A$347 at the issue price.
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14 Nov 2025production update▲ GoodMajor
JVU-5 began production at 25 barrels of oil and 74 of water per day over its first seven days, similar to early JVU-6 rates and expected to decline. JVU-6 now produces 18 barrels a day. The next well, JVU-4, is planned for Q1 2026.
3 Nov 2025director officer appointment● Neutral
Thomson Naude, a former Carnarvon Energy CFO, joined as non-executive director. Jason Peterson resigned as a director but stays as corporate adviser via CPS Capital Group.
22 Oct 2025drilling result▲ Good
JVU-5 reached 4,877ft on 19 October; logging showed oil and gas shows in the upper and lower Fry sands, in line with expectations and consistent with JVU-6. Completion comes next, then the JVU-4 injector in Q1 2026.
9 Oct 2025drilling spud▲ GoodMajor
Drilling began on 7 October on the JVU-5 production well, the second producer in the Varn waterflood and first well under the new joint venture. Target depth is 4,900ft, with about five drilling days expected.
16 Sept 2025farm in farm out agreement▲ GoodMajor
Winchester farmed out 30% of the Varn waterflood to a US investor group led by Production Lending, for US$112k upfront and 40% of further costs. Total cost is about US$5.6M, with the group committing about US$2.4M. This resolves the unfunded-waterflood thread; Winchester keeps 70% and operates.
12 Sept 2025half year report▼ Bad
Half-year to 30 June 2025: loss of US$555k (US$308k a year earlier), including US$460k of impairment and depletion. Production averaged 73 boepd. Directors are now Peterson, Wheeler and Zielinski; the former board ceased 23 July. Remaining statements are truncated.
21 Aug 2025director officer appointment● NeutralMajor
Chris Zielinski, a corporate lawyer, joined as non-executive director. Rory McGoldrick moves from executive director to part-time CEO on A$120,000 a year with three months' notice. Fills the CEO gap noted in earlier history.
31 July 2025listing compliance notice▲ Good
ASX lifted the suspension from the start of trading on 31 July 2025 after the company confirmed it has enough directors. Trading in the shares resumes.
31 July 2025director officer appointment● NeutralMajor
Jason Peterson (CPS Capital Group) and David Wheeler were appointed non-executive directors, restoring the three-director minimum. The company is still taking advice on the earlier 249D requisition notices.
28 July 2025director officer appointment● Neutral
Legal advice says McGoldrick's resignation was ineffective because the company would otherwise have no director, so he remains sole director with full powers. He will work with ASX and lawyers to restore compliance.
25 July 2025director officer appointment▼ BadMajor
All directors were removed by shareholder vote at the 23 July meeting, leaving the company below the three-director minimum. A meeting will be called solely to appoint new directors; shares stay suspended meanwhile. The requisitioners succeeded in removing the board.
23 July 2025director officer appointment● Neutral
Rory McGoldrick announced his resignation as a director, effective 23 July, saying he tendered it before the general meeting held that day. A later announcement found the resignation ineffective.
23 July 2025listing compliance notice▼ BadMajor
ASX suspended Winchester shares because the company no longer has enough directors to meet the three-director minimum under the Corporations Act. Suspension continues until the company complies with the Listing Rules.
23 July 2025listing compliance notice▼ Bad
ASX paused trading in Winchester shares pending a further announcement. No reason is given in this notice; a suspension followed the same day.
16 June 2025material agreement termination▼ BadMajor
Winchester terminated its non-binding Peru term sheet with Jaguar Exploration, citing continued increases in the work program and budget. The offshore Peru plan announced in March is dropped; the company says it keeps searching for projects and maintaining US production.
12 June 2025security holder rights change▼ BadMajor
A second requisition, from Hugh Wallace-Smith, Darby SMSF and Rojo Nero Capital, seeks to remove Rory McGoldrick and Iain Smith and appoint Yann Cherruau. Together with the 10 June notice, it targets most of the board. Company is seeking legal advice.
10 June 2025security holder rights change▼ BadMajor
Shareholders Chetan Enterprises and Azuree requisitioned a general meeting to remove chairman Lloyd Flint and director Ricardo Garzon Rangel, and to appoint Frances Lai. The board is taking legal advice. This opens a board control contest.
9 May 2025regulatory community update▲ GoodMajor
Westex abandoned its lawsuit over Winchester's 2022 Group Prospect farm-in, and the Nolan County court dismissed all claims with no damages or costs. This resolves the open US$413,500 claim; no further action is expected.
31 Mar 2025annual report● Neutral
Corporate governance statement and Appendix 4G lodged with the FY2024 annual report. Compliance paperwork with no new information.
31 Mar 2025annual report● Neutral
FY2024 annual report: net production averaged about 73 boepd (28,841 boe) and WI revenue was US$1.85M at US$77.18 per barrel. Varn waterflood remains unfunded, with 2P of 1.068 mmboe. Financial statements were truncated, so no profit or cash figures are given.
20 Mar 2025farm in farm out agreement▲ GoodMajor
Non-binding term sheet with Jaguar Exploration to jointly apply for two offshore Peru exploration blocks (~8,060 km2). If granted, Winchester would operate with 80%, paying Jaguar US$270k cash plus US$300k in shares at 0.3c (~160M shares). Outcome expected in two to three months. This is the first step in the new-projects search.
18 Dec 2024security holder rights change● Neutral
Directors took 50% of the performance rights shareholders approved on 4 December 2024, 60M in total. They vest if the 20-day VWAP exceeds A$0.006 (Class A) or A$0.01 (Class B), against a share price of about A$0.002.
