HIGH PEAK ROYALTIES LIMITED For personal use only
29 July 2022
JUNE 2022 QUARTERLY REPORT
ACTIVITY AND PORTFOLIO REVIEW
High Peak Royalties is pleased to announce the June Quarter Statement of Activity and Cash Flows.
Following a quarter of improved cash receipts and increased performance across High Peak's overall production royalty asset portfolio (reported to 31 May 2022 in ASX announcement dated 20 June 2022), June quarter cash receipts were $302,148, and cash at the end of the quarter and year end 30 June 2022 was $1,105,422. During the quarter, $30,000 was paid to directors of the Company in director fees, as noted in Item 6.1 of the 5B.
REVIEW OF PORTFOLIO ASSETS
USA
USA cash receipts improved noticeably with $231,608 recorded for the June quarter compared to the March quarter of $201,868. There was interest paid in the period for the Macquarie Bank Financing Facility costs of ~$24,000. The Company did not repay any principal on the Facility in the quarter.
At 30 June 2022 the total owing on the facility was US$1,250,000 (AU$1,814,487).
Australia
Producing Royalties
HPR received payment from Origin of $70,540 in the quarter with respect to
Non-Production Royalties
Northern Territory
HPR is pleased to note that there has been positive development in the Dukas and Mount Kitty projects operated by Central Petroleum (ASX.CTP) over which HPR has a royalty interest. CTP announced on 17 May that joint venture approvals had been provided for Santos as operator to carry out certain key exploration activities, such as rig contracting, ordering long lead items and environmental and land access approvals.
This is related to the planned drilling of three sub-salt exploration wells in 2023, of which HPR has a royalty over two, being the Dukas prospect (EP112) and the Mt Kitty prospect (EP125).
High Peak Royalties Limited (ASX: HPR) - ABN 79 118 065 704 Suite 305 Level 3, 35 Lime Street, Sydney NSW 2000 +61 (0)2 8296 0011 | www.highpeak.com.au
For personal use only
CTP has advised in its ASX announcement that these wells have been programmed to be drilled under the Peak Helium farmout transaction (announced by CTP on 9 February 2022) and that satisfaction of conditions precedent for the Peak Helium farmout agreement are progressing towards completion.
HPR will continue to monitor the progress of the Peak/CTP farmout agreement and advise the market of its progress as relevant to its royalty interests over EP112 and EP125.
Queensland Royalties
The Company continues to monitor progress over its PL171 and ATP574P royalties operated by Shell.
General
High Peak continues to monitor its royalty portfolio and activity as announced that is relevant to the underlying permits.
Exploration Assets
During the quarter, the Company submitted renewal applications for Geothermal Exploration Licences (GEL) 571, 572, 573 and 574 to the Department for Energy and Mining in South Australia. The GEL renewals were submitted as per legislated requirements and the Company will update shareholders when the renewals have been completed. The renewal process resulted in a reduction in area of each GEL, however, the Company is confident that it has maintained access to the most prospective areas within the tenements. In addition, the Company completed a technical report on the GELs as part of the previously announced strategic review and is currently assessing its options in relation to creating value for shareholders.
RECENT ANNOUNCEMENTS
Summary of announcements during the period to release of this report:
Date | Announcement | |
12/05/2022 | Appendix 3Y | |
20/06/2022 | Royalty Receipts and Portfolio Update | |
29/06/2022 | Appendix 3Y | |
30/06/2022 | Change in substantial holding | |
07/07/2022 | Appendix 3Y | |
15/07/2022 | Appendix 3Y |
This announcement has been approved by the Board of Directors.
For enquiries please contact:
+61 2 8296 0000 Jarrod White
CHIEF FINANCIAL OFFICER | Company Secretary
High Peak Royalties Limited (ASX: HPR) - ABN 79 118 065 704 Suite 305 Level 3, 35 Lime Street, Sydney NSW 2000 +61 (0)2 8296 0011 | www.highpeak.com.au
For personal use only
ABOUT HIGH PEAK ROYALTIES LIMITED
High Peak Royalties Ltd (ASX: HPR) is building a portfolio of diversified high value resource royalties around the world. In the current climate, High Peak is looking to partner with capable operators to secure royalties over high value producing assets and leverage our capital and structuring expertise.
The company's portfolio includes:
Permit / Location | Royalty Interest (%) | Operated By |
PL 171 and ATP 574P | 2.50 | Queensland Gas/BG Group/ |
Shell | ||
ATP 299P | ||
Petroleum Leases: PL29, PL38, PL39, PL52, PL57, | 3.6/4.0 | Santos |
PL95, PL169, PL170, PL293, PL294, PL295 and | ||
PL298 | ||
Peat Gas Field (PL101) | 2.13 | Origin Energy |
Surprise Oil Field (PL6) | 1.00 | Central Petroleum |
Longtom Gas Field (VIC/L29) | 0.30 | Seven Group Holdings |
WA-90-R /WA-91-R (formerly WA-315-P) Poseidon | 0.10 | Santos |
Field | ||
EP(A)111, EP(A)120 and EP(A) 124 | 1.00 | Central Petroleum |
EP112, EP115NM and EP125 | 1.00 | Santos |
EP115 | 1.00 | Frontier Oil and Gas |
WA-482-P | 0.20 | Santos |
EP(A)155 | 2.00 | Mosman Oil and Gas |
Planet Gas USA Inc. Royalties | 3.00 | Empire Energy |
United States (East Texas, Permian and Texas Gulf | Sabine Oil and Gas, Pioneer | |
0.20 to 0.40 | Natural Resources and Wagner | |
Coast Basins) | ||
Oil Company | ||
United States (East Texas) | 1.00 | Silver Tusk and New Century |
Operating | ||
Royalty over hydrogen sales including catalysts | 1.00 | Scimtek Hydrogen Pty Ltdl |
ML 04/244 and ML 04/249 Admiral Bay, Canning | 1.5% GOR | Metalicity Ltd |
Basin | 1.5% NSR | |
Licence/Location | Ownership % | Approximate Area in km2 |
GEL 571 South Australia | 100 | 1,845.23 |
GEL 572 South Australia | 100 | 1,764.20 |
GEL 573 South Australia | 100 | 1,180.49 |
GEL 574 South Australia | 100 | 1,139.26 |
High Peak Royalties Limited (ASX: HPR) - ABN 79 118 065 704 Suite 305 Level 3, 35 Lime Street, Sydney NSW 2000 +61 (0)2 8296 0011 | www.highpeak.com.au
For personal use only
Rule 5.5
Appendix 5B
Mining exploration entity or oil and gas exploration entity
quarterly cash flow report
Name of entity
High Peak Royalties Limited | |
ABN | Quarter ended ("current quarter") |
79 118 065 704 | 30 June 2022 |
Consolidated statement of cash flows | Current quarter | Year to date | ||
$A'000 | (12 months) | |||
$A'000 | ||||
1. | Cash flows from operating activities | |||
1.1 | Receipts from customers | 302 | 919 | |
1.2 | Payments for | |||
(a) | exploration & evaluation | - | - | |
(b) | development | - | - | |
(c) | production | - | - | |
(d) | staff costs | (30) | (169) | |
(e) | administration and corporate costs | (94) | (325) | |
1.3 | Dividends received (see note 3) | - | - | |
1.4 | Interest received | - | - | |
1.5 | Interest and other costs of finance paid | (32) | (122) | |
1.6 | Income taxes paid | - | - | |
1.7 | Government grants and tax incentives | - | - | |
1.8 | Other (provide details if material) | - | - | |
1.9 | Net cash from / (used in) operating | 146 | 303 | |
activities | ||||
2. | Cash flows from investing activities | |||
2.1 | Payments to acquire or for: | |||
(a) | entities | - | - | |
(b) | tenements | - | - | |
(c) | property, plant and equipment | - | - | |
(d) | exploration & evaluation | - | - | |
(e) | investments (royalties acquired) | - | (400) | |
(f) | other non-current assets | - | - |
ASX Listing Rules Appendix 5B (17/07/20) | Page 4 |
+ See chapter 19 of the ASX Listing Rules for defined terms. |
For personal use only
Appendix 5B Mining exploration entity or oil and gas exploration entity quarterly cash flow report
Consolidated statement of cash flows | Current quarter | Year to date | |||
$A'000 | (12 months) | ||||
$A'000 | |||||
2.2 | Proceeds from the disposal of: | ||||
(a) | entities | - | - | ||
(b) | tenements | - | - | ||
(c) property, plant and equipment | - | - | |||
(d) | investments | - | - | ||
(e) | other non-current assets | - | - | ||
2.3 | Cash flows from loans to other entities | - | - | ||
2.4 | Dividends received (see note 3) | - | - | ||
2.5 | Other (provide details if material) | - | - | ||
2.6 | Net cash from / (used in) investing | - | (400) | ||
activities |
3. Cash flows from financing activities
3.1 Proceeds from issues of equity securities
(excluding convertible debt securities) | - | 800 | |
3.2 | Proceeds from issue of convertible debt | - | - |
securities | |||
3.3 | Proceeds from exercise of options | - | - |
3.4 | Transaction costs related to issues of equity | - | (58) |
securities or convertible debt securities | |||
3.5 | Proceeds from borrowings | - | - |
3.6 | Repayment of borrowings | - | (342) |
3.7 | Transaction costs related to loans and | - | - |
borrowings | |||
3.8 | Dividends paid | - | - |
3.9 | Other (provide details if material) | - | - |
3.10 | Net cash from / (used in) financing | - | 400 |
activities |
4. Net increase / (decrease) in cash and cash equivalents for the period
4.1 | Cash and cash equivalents at beginning of | 910 | 762 |
period | |||
4.2 | Net cash from / (used in) operating | 146 | 303 |
activities (item 1.9 above) | |||
4.3 | Net cash from / (used in) investing activities | - | (400) |
(item 2.6 above) | |||
4.4 | Net cash from / (used in) financing activities | - | 400 |
(item 3.10 above) |
ASX Listing Rules Appendix 5B (17/07/20) | Page 5 |
+ See chapter 19 of the ASX Listing Rules for defined terms. |
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High Peak Royalties Limited published this content on 29 July 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 29 July 2022 08:44:04 UTC.
