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HYTERRA LTD — Interim / Quarterly Report 2012
Apr 23, 2012
65084_rns_2012-04-23_10aa43d3-4e3a-404b-badd-ccd0d3fb5917.pdf
Interim / Quarterly Report
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24 April 2012
The Manager Company Announcements Office Australian Securities Exchange Ltd 4th Floor, 20 Bridge Street SYDNEY NSW 2000
MARCH QUARTER ACTIVITIES REPORT
The Directors of Triple Energy Limited (“Triple” or the “Company”) are pleased to report the following activities:
APPOINTMENT OF PAUL UNDERWOOD AS CHIEF EXECUTIVE
During the quarter the Company announced the appointment of Mr Paul Underwood as Executive Chairman effective 14 February 2012.
Mr Underwood has around 30 years experience in the upstream oil and gas sector. He is the former founding Managing Director and Chief Executive Officer of Tap Oil Limited, a position he held for eleven years. Mr Underwood presided over Tap Oil from its beginnings as an unlisted junior start up company through to it growing into a significant participant in the oil and gas sector with a market capitalisation of several hundred million dollars.
Mr Underwood is also a Non Executive Director of Western Power, a Western Australian state owned electricity utility, a position he has held for approximately three years.
CAPITAL RAISING
During the quarter the Company completed the issue of 120,000,000 shares at $0.01 per share by way of a non-renounceable entitlement issue. This resulted in the Company raising $1,200,000 (before costs of the issue) inclusive of the placement of the shortfall.
The Company raised a further $100,000 (before costs of the issue) by the placement of 10,000,000 shares at $0.01 to Mr Paul Underwood following the approval received from Shareholders at the General Meeting held on 26 March 2012.
LYONS POINT - USA
The Company is in the process of finalising its USA activities with minor cash calls being paid relating to the abandonment of the drilling activities on the Lyons Point well in late 2011. The Company does not intend to invest further in this project.
Triple Energy Ltd Suite 9, 1200 Hay Street West Perth WA 6005 Mobile +61 408557821 Office +61 864604960 Email [email protected] Web www.tripleenergy.net
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PROJECT EVALUATION
The Company is currently evaluating a number of potential opportunities with the objective of developing a portfolio of value adding projects in the oil, gas and energy sector.
The Company has recently posted a high level presentation on its website that sets out its current strategy and objectives.
Yours faithfully,
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Paul Underwood Executive Chairman
CONTACT DETAILS FOR FURTHER INFORMATION;
Paul Underwood T: + 61 (0) 408 557 821
Triple Energy Ltd Suite 9, 1200 Hay Street West Perth WA 6005 Mobile +61 408557821 Office +61 864604960 Email [email protected] Web www.tripleenergy.net
Appendix 5B Mining exploration entity quarterly report
Rule 5.3
Appendix 5B
Mining exploration entity quarterly report
Introduced 01/07/96 Origin Appendix 8 Amended 01/07/97, 01/07/98, 30/09/01, 01/06/10, 17/12/10
Name of entity
| Name of entity | Name of entity | Name of entity | Name of entity | |
|---|---|---|---|---|
| Triple Energy Limited (formerly Tango Petroleum Limited) | ||||
| ABN 68 116 829 675 Consolidated statement of cash flows |
||||
| Cash flows related to operating activities 1.1 Receipts from product sales and related debtors 1.2 Payments for (a) exploration & evaluation (b) development (c) production (d) administration 1.3 Dividends received 1.4 Interest and other items of a similar nature received 1.5 Interest and other costs of finance paid 1.6 Income taxes paid 1.7 Other (GST Refund) Net OperatingCash Flows |
Current quarter $A’000 |
Year to date (12 months) $A’000 |
||
| (132) (283) 2 5 |
(1,510) (694) 5 52 |
|||
| (407) | (2,147) | |||
| 1.8 1.9 1.10 1.11 1.12 1.13 |
Cash flows related to investing activities Payment for purchases of: (a) prospects (b) equity investments (c) other fixed assets Proceeds from sale of: (a) prospects (b) equity investments (c) other fixed assets Loans to other entities Loans repaid by other entities Other (provide details if material) Net investing cash flows Total operating and investing cash flows (carried forward) |
(120) | ||
| (120) | ||||
| (407) | (2,267) |
- See chapter 19 for defined terms.
Appendix 5B Page 1
17/12/2010
Appendix 5B Mining exploration entity quarterly report
| 1.13 Total operating and investing cash flows (brought forward) |
(407) | (2,267) |
|---|---|---|
| Cash flows related to financing activities 1.14 Proceeds from issues of shares, options, etc. 1.15 Proceeds from sale of forfeited shares 1.16 Proceeds from borrowings 1.17 Repayment of borrowings 1.18 Dividends paid 1.19 Other (capital raising costs) Net financingcash flows |
1,300 10 (100) (60) |
2,815 100 (100) (155) |
| 1,150 | 2,660 | |
| Net increase (decrease) in cash held 1.20 Cash at beginning of quarter/year to date 1.21 Exchange rate adjustments to item 1.20 1.22 Cash at end ofquarter |
743 (8) |
393 341 |
| 734 | 734 |
Payments to directors of the entity and associates of the directors Payments to related entities of the entity and associates of the related entities
| 1.23 1.24 |
1.23 1.24 |
Aggregate amount of payments to the parties included in item 1.2 Aggregate amount of loans to the parties included in item 1.10 |
Current quarter $A'000 |
|---|---|---|---|
| 351 | |||
| - | |||
| 1.25 Explanation necessaryfor an understandingof the transactions Director’s fees (2 quarters), company secretarial services (2 quarters), rent + administration services(2quarters),reimbursements and the repayment of a$100,000 loan from Directors. Non-cash financing and investing activities 2.1 Details of financing and investing transactions which have had a material effect on consolidated assets and liabilities but did not involve cash flows 2.2 Details of outlays made by other entities to establish or increase their share in projects in which the reportingentityhas an interest |
Explanation necessaryfor an understandingof the transactions | ||
| Director’s fees (2 quarters), company secretarial services (2 quarters), rent + administration services(2quarters),reimbursements and the repayment of a$100,000 loan from Directors. |
|||
| Details of outlays made by other entities to establish or increase their share in projects in which the reportingentityhas an interest |
|||
- See chapter 19 for defined terms.
Appendix 5B Page 2
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Appendix 5B Mining exploration entity quarterly report
Financing facilities available
Add notes as necessary for an understanding of the position.
| 3.1 Loan facilities 3.2 Credit standby arrangements |
Amount available $A’000 |
Amount used $A’000 |
|---|---|---|
| - | - | |
| - | - |
Estimated cash outflows for next quarter
| Estimated cash outflows for next quarter | |
|---|---|
| 4.1 Exploration and evaluation 4.2 Development 4.3 Production 4.4 Administration |
$A’000 |
| 50 | |
| - | |
| - | |
| 100 | |
| Total | 150 |
Reconciliation of cash
| Reconciliation of cash | ||
|---|---|---|
| Reconciliation of cash at the end of the quarter (as | Current quarter | Previous quarter |
| shown in the consolidated statement of cash flows) | $A’000 | $A’000 |
| to the related items in the accounts is as follows. | ||
| 5.1 Cash on hand and at bank |
734 | (8) |
| 5.2 Deposits at call |
||
| 5.3 Bank overdraft |
||
| 5.4 Other (provide details) |
||
| Total: cash at end of quarter (item 1.22) | 734 | (8) |
Changes in interests in mining tenements
| 6.1 Interests in mining tenements relinquished, reduced or lapsed 6.2 Interests in mining tenements acquired or increased |
Tenement reference |
Nature of interest (note (2)) |
Interest at beginning ofquarter |
Interest at end of quarter |
|---|---|---|---|---|
- See chapter 19 for defined terms.
Appendix 5B Page 3
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Appendix 5B Mining exploration entity quarterly report
Issued and quoted securities at end of current quarter
Description includes rate of interest and any redemption or conversion rights together with prices and dates.
| 7.1 Preference +securities (description) |
Total number | Number quoted | Issue price per security (see note 3) (cents) |
Amount paid up per security (see note 3) (cents) |
|---|---|---|---|---|
| 7.2 Changes during quarter (a) Increases through issues (b) Decreases through returns of capital, buy- backs, redemptions |
||||
| 7.3 +Ordinary securities |
250,000,000 | 250,000,000 | ||
| 7.4 Changes during quarter (a) Increases through issues (b) Decreases through returns of capital, buy- backs |
130,000,000 | 130,000,000 | $0.01 | |
| 7.5 +Convertible debt securities (description) |
||||
| 7.6 Changes during quarter (a) Increases through issues (b) Decreases through securities matured, converted |
||||
| 7.7 Options (description and conversion factor) |
99,000,000 15,000,000 15,000,000 15,000,000 15,000,000* |
99,000,000 | Exercise price $0.06 $0.03 $0.03 $0.04 $0.04 |
Expiry date 30/06/2012 14/02/2016 14/02/2016 14/02/2016 14/02/2016 |
| 7.8 Issued during quarter |
15,000,000 15,000,000 15,000,000 15,000,000* |
$0.03 $0.03 $0.04 $0.04 |
14/02/2016 14/02/2016 14/02/2016 14/02/2016 |
|
| 7.9 Exercised during quarter |
- See chapter 19 for defined terms.
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Appendix 5B Mining exploration entity quarterly report
| 7.10 Expired during quarter |
||||
|---|---|---|---|---|
| 7.11 Debentures (totals only) |
||||
| 7.12 Unsecured notes (totals only) |
- Subject to vesting conditions
Compliance statement
-
1 This statement has been prepared under accounting policies which comply with accounting standards as defined in the Corporations Act or other standards acceptable to ASX (see note 5).
-
2 This statement does give a true and fair view of the matters disclosed.
Sign here: Date: 24 April 2012 Executive Chairman Print name: Paul Underwood
Notes
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1 The quarterly report provides a basis for informing the market how the entity’s activities have been financed for the past quarter and the effect on its cash position. An entity wanting to disclose additional information is encouraged to do so, in a note or notes attached to this report.
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2 The “Nature of interest” (items 6.1 and 6.2) includes options in respect of interests in mining tenements acquired, exercised or lapsed during the reporting period. If the entity is involved in a joint venture agreement and there are conditions precedent which will change its percentage interest in a mining tenement, it should disclose the change of percentage interest and conditions precedent in the list required for items 6.1 and 6.2.
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3 Issued and quoted securities The issue price and amount paid up is not required in items 7.1 and 7.3 for fully paid securities.
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4 The definitions in, and provisions of, AASB 6: Exploration for and Evaluation of Mineral Resources and AASB 107: Statement of Cash Flows apply to this report.
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5 Accounting Standards ASX will accept, for example, the use of International Financial Reporting Standards for foreign entities. If the standards used do not address a topic, the Australian standard on that topic (if any) must be complied with.
-
== == == == ==
-
See chapter 19 for defined terms.
Appendix 5B Page 5
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