Yep... apparently listing rules must not apply. Of course if you...

Yep... apparently listing rules must not apply. Of course if you (the investor) do not know they exist then you've got nothing to be concerned about.

Make it easy for y'all - 5.25 through 5.35 - some have more applicability than others. Read and just review the "details" that have been released. Is it satisfactory?
http://www.asx.com.au/documents/rules/Chapter05.pdf

If you need help it understanding what some of it means, this will guidance note will assist
http://www.asx.com.au/documents/rules/gn32_reporting_on_oil_gas_activities.pdf

"...must disclose sufficient information (perhaps in narrative rather than numerical form, where the numbers are commercially sensitive) for investors to understand the methodology it has used to determine these factors and assumptions and the basis on which it is estimating its petroleum resources.

Entities should be careful not to claim that information is commercially sensitive when that is not so. For example, if an entity is not a producing entity and it has not yet entered into any commercially sensitive contracts that underpin its price, capital expenditure or operational expenditure assumptions, it is difficult to see how information about those assumptions could be commercially sensitive.

ASX also notes that to the extent an estimate of petroleum reserves involves a representation about future matters, it must be based on reasonable grounds – meaning that the economic assumptions used to calculate the estimates must also be objectively reasonable – or else the representation could be deemed to be misleading and the entity could face serious legal consequences as a result..."


The ASX puts this stuff out to help you be better informed and get companies to comply with providing information that investors should reasonably expect to be available to them to make informed decisions.


Debt facility. Wasn't it 200+ and counting that keeps being referenced as companies that were over-leveraged and had to reorganize? Their equity investors wept indeed.

It's one thing to say "economic production at low oil prices", "bankable reserves", and so on its an entirely different thing to deliver on that.

Drilling (C18#2 - now Magellan) commenced Feb 2016. The announcement it struck oil was in May 2016. Its an awful long time to convert drilling capital invested to operating cash flow (the beauty of NPV at 0%)