6 July 2015admin correction● Neutral
Registered office moved again, to Level 2, 41-47 Colin Street, West Perth, just six weeks after the previous move. Administrative only.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
12 June 2015other● Neutral
Computershare notice that its Perth office moves to 172 St Georges Terrace from 15 June 2015. Administrative, with no substance for shareholders beyond the registry address.
12 June 2015other● Neutral
Duplicate of the Computershare notice that its Perth office moves on 15 June 2015. Re-release with no new information.
26 May 2015admin correction● Neutral
Registered office moved to c/- GTP Legal in West Perth. The company also notes the catch-up Appendix 4C, the first since December 2012. Administrative only.
25 May 2015director officer appointment▼ BadMajor
Board restructured again: Nerida Schmidt and Michelle Afflick join, and Greg Channon, Ray Ridge and company secretary James Church leave. The company has under A$10,000 cash and over A$250,000 of creditors. Plans a 1-for-5 consolidation, debt-for-shares settlements and a 24m-share placement raising up to A$120,000. Shares stay suspended.
21 May 2014director officer appointment● Neutral
Director Chris Whiteman resigned effective 16 May 2014, citing conflicting work commitments, only five months after joining the board in December 2013. The company says it is seeking an additional director.
23 Dec 2013admin correction● Neutral
Routine notice that the 4,896,861 shares issued in the December 2013 placement at A$0.01 were issued without a prospectus, and the company says it has met its disclosure obligations. No new information.
23 Dec 2013director officer appointment● NeutralMajor
Board restructured: Michael Billing joins as Chairman and Chris Whiteman as non-executive director. Ferguson and Burke retire, Channon stays non-executive, and James Church becomes company secretary. A 1-for-2 rights issue at 1c, underwritten by Taylor Collison, is planned to fund reviewing investments in resources and non-resources sectors.
19 Dec 2013capital raising announcement● NeutralMajor
Placement of 4,896,861 shares to sophisticated investors at A$0.01, together with a treasury stock sale, raised A$66,360 for working capital. A very small raise compared with the A$4m–7m prospectus that failed.
What it means for a shareholder
4.9m new shares at A$0.010 to raise about A$66,360. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
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28 Feb 2013capital raising announcement▼ BadMajor
The prospectus offer closed undersubscribed and will not proceed, with all applications refunded. The company is assessing how to fund its 49.9% Statesman Africa acquisition. Block 14 entry is left unfunded and relisting is in doubt.
20 Feb 2013capital raising announcement● Neutral
Prospectus closing date extended again, to 28 February 2013. No reason is given.
1 Feb 2013quarterly activities report▼ BadMajor
December 2012 quarter: operating outflow A$354k, and cash fell to A$19k from A$487k. Financing outflow was A$114k. Cash is almost exhausted while the prospectus remains unfunded.
31 Jan 2013capital raising announcement● Neutral
Prospectus closing date extended again, to 20 February 2013. No reason is given.
31 Jan 2013other● Neutral
Credit Suisse notice amending bank-share trading warrants. It does not relate to this company. No substance for shareholders.
9 Jan 2013investor presentation● Neutral
January 2013 presentation, under the new code SCY, repeats the 1.5 billion barrel Block 14 case. It shows 32.6m shares on issue, and 20.7m–35.7m new shares at the prospectus price, giving a market cap of A$10.7m–13.7m. No new information.
9 Jan 2013capital raising announcement● Neutral
Letter to shareholders recapping the Block 14 acquisition and the A$4m–7m prospectus at 20c. Shares remain suspended, with the offer open to 31 Jan 2013 and relisting expected in February. Nothing new.
21 Dec 2012capital raising announcement● Neutral
Prospectus closing date extended again, to 31 January 2013. No reason is given.
17 Dec 2012capital raising announcement● Neutral
Prospectus closing date extended to 21 December 2012. No reason is given.
11 Dec 2012joint venture update▲ Good
Sudan extended the Block 14 security bond (now US$6m, about US$2.5m from the company) to 31 Dec 2012. The joint operating agreement and shareholders agreement were signed, with the operating company to be named Baraka Petroleum Operating Company.
30 Nov 2012capital raising announcement● NeutralMajor
Re-compliance prospectus offers 20m shares at A$0.20 to raise A$4m, with up to A$3m more in oversubscriptions. It is not underwritten and is conditional on re-admission requirements. The 1:23 consolidation was approved on 30 Nov 2012.
What it means for a shareholder
20.0m new shares at A$0.200 to raise about A$4.0m. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
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30 Nov 2012listing compliance notice▼ BadMajor
ASX suspended the company's shares immediately, pending AGM votes on a change in the nature and scale of activities. If approved, the suspension continues until the company complies with Listing Rules Chapters 1 and 2 for re-admission.
27 Nov 2012director officer appointment● Neutral
Non-executive director Glenn Whiddon resigned with immediate effect. No reason is given.
23 Nov 2012capital raising announcement● NeutralMajor
Share consolidation set at 1 for 23, based on a 0.88c average price. If shareholders approve at the 30 Nov AGM, the company plans a prospectus to raise up to A$7m for Block 14 and other oil and gas opportunities.
19 Nov 2012investor presentation● Neutral
November 2012 presentation repeats the Senergy 1.5 billion barrel result and the 37.4% Block 14 interest. It shows 750m shares at A$0.01 (market cap A$7.5m) and cash of A$0.4m. No new information.
8 Nov 2012resource reserve update▲ GoodMajor
Senergy's independent report puts Block 14 at 1.5 billion barrels gross unrisked prospective resource (560 million net to the company at 37.4%), from 30 traps of 50 million barrels each. Chance of success is only 4.5%. This delivers the report due in late October.
5 Nov 2012regulatory community update● Neutral
Dr Michael Earle joins Statesman Africa as President, Africa Region, on a three-month contract, to set up the Block 14 operating company. The US$5m security bond payment, due 3 Nov, is being extended to no later than 1 Jan 2013 while joint operating terms are negotiated.
16 Oct 2012other● Neutral
Notice linking to an audio interview with the Managing Director about the Block 14 historical data. No new information.
15 Oct 2012regulatory community update▲ Good
Company received historical Block 14 data free from Sudan's ministry. A 2008 soil-microbe survey of 1,089 sites indicates hydrocarbons, strongest above the largest lead. A nearby Block 12A well reported shows, and Senergy will estimate resources by late October.
21 Sept 2012security holder rights change● Neutral
Administrative notice that 60m shares and 2m options were issued on 21 Sept 2012 without a disclosure document. No price is given here. It is presumably the placement tied to the Sudan deal (inference).
10 Sept 2012investor presentation● Neutral
Investor presentation repeats the Sudan Block 14 deal (net 37.4% to the company). It shows 750m shares after the placement, a share price of A$0.005, and cash of A$1.4m. The company plans to change its name to Sirocco Energy.