Past year: ▼ 50%(0.10c – 0.20c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
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.
23 June 2025agm notice● Neutral
Letter notifying shareholders of a general meeting on 23 July 2025 in Perth, with proxies due 21 July. The Chair intends to vote against Resolutions 1-4 and in favour of 5-7. Resolutions are not detailed in the letter (inferred to be the requisitioned board changes).
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.
29 May 2025agm notice● Neutral
Resolutions 1 to 6 were passed by poll, and Resolution 7 was withdrawn. The re-election of Ricardo Garzon Rangel drew a large against vote, about 46% of discretionary proxies, while the other resolutions had little opposition.
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.
30 Apr 2025quarterly activities report● Neutral
March 2025 quarter revenue was A$578k (US$363k) with production steady at 74 boepd; cash US$501k. Repeats the Peru term sheet with Jaguar (80% interest if granted). Group 39 well was plugged and abandoned.
29 Apr 2025agm notice● Neutral
Notice of the 29 May 2025 AGM: remuneration report, re-election of Iain Smith and Ricardo Garzon Rangel, a 10% placement mandate, and confirming Hall Chadwick as auditor. Also seeks approval for up to 167M consideration shares (apparently for the Peru deal, an inference).
29 Apr 2025agm notice● Neutral
Letter telling shareholders the AGM will be held in person in Perth on 29 May 2025, with proxies due 27 May. Administrative notice.
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.
19 Mar 2025agm notice● Neutral
Annual general meeting set for 29 May 2025, with director nominations closing 7 April 2025. Administrative notice.
31 Jan 2025quarterly activities report● Neutral
December 2024 quarter revenue was A$567k (US$352k) with production steady at 73 boepd. Staff and admin costs fell further and cash was US$511k, with no debt, after a US$53k currency loss. Board is still reviewing new project opportunities; no operational news.
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.
4 Nov 2024agm notice● Neutral
Letter notifying shareholders of a general meeting on 4 December 2024 in Perth, with proxies due 2 December. The letter itself gives no agenda detail; a later announcement links the meeting to director performance rights.
1 Nov 2024director officer appointment● Neutral
Zane Lewis resigned as company secretary; Daniel Smith and John Kay became joint company secretaries from 1 November 2024. The registered office moved to Level 8, 99 St Georges Terrace, Perth. Administrative change.
31 Oct 2024quarterly activities report● Neutral
September 2024 quarter revenue was A$553k (US$370.5k), down from A$727k, with production 73 boepd (92 prior) after workover outages at White Hat wells. Staff costs fell 47.7% to US$139k as cost cuts took effect; cash US$670k, no debt. New project reviews continue.
31 Oct 2024quarterly activities report● Neutral
Appendix 5B for the September 2024 quarter: operating cash outflow US$56k and US$114k investing outflow, offset by US$218k net from financing. Cash ended at US$670k with no debt; the company estimates about 3.9 quarters of funding.
20 Sept 2024other▼ BadMajor
Petra Cotes, a shareholder controlled by executive director Rory McGoldrick, gave notice of a resolution to remove director Larry Liu at a general meeting. This signals a board dispute following Liu's staying on despite the June announcement.
13 Sept 2024half year report● Neutral
Half-year report to 30 June 2024: net production averaged 101 boepd and realised oil price was US$81.79, with no hedges. Board now includes McGoldrick, Smith, Garzon Rangel, Flint and Liu. Financial statements are truncated, so no profit or cash figures are given here.
9 Sept 2024director officer appointment● Neutral
Larry Liu did not step down on 31 August 2024 as stated in the 12 June announcement; he remains a non-executive director. This corrects the earlier board restructure announcement.
9 Aug 2024regulatory community update▼ BadMajor
Westex Resources sued Winchester in Nolan County, alleging it failed to perform farm-in work commitments on the Group Prospect (75% WI acquired June 2022) and claiming US$413,500. Winchester says it will defend the claim.
26 July 2024quarterly activities report● Neutral
June 2024 quarter revenue was A$727k with production 92 boepd; cash US$597k, no debt. A cost cut targeting over US$500k annual savings, including US staff cuts, follows FY2023 costs exceeding US$3.2M against US$2.77M revenue. No new wells or workovers.
18 July 2024capital raising announcement● NeutralMajor
Entitlement offer closed with applications for $343,791 (114.6M shares at $0.003), well short of the roughly $765,000 maximum. About 140.5M shares remain as shortfall, which the board may place within three months.
What it means for a shareholder
115m new shares at A$0.003 to raise about A$343,791. That's 12% dilution: every existing holder's slice gets 12% smaller. If you held A$1,000 of shares (333,333 at the issue price), your slice goes from 0.0386% to 0.0341% of the company. To keep it you'd need 44,223 more shares - about A$133 at the issue price.
Create a free account to see this worked out for your own holding.
28 June 2024capital raising announcement● Neutral
Offer document opens the 1-for-4 non-renounceable entitlement offer at $0.003 per share, to raise up to about $765,000. It closes 12 July 2024. Terms repeat the 19 June announcement.
