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This news also means Alpha and it's subsidaries are moving forward with good shape and escalating....in the good prospect in Alaska....
borneo2017 ( Date: 16-Nov-2019 08:03) Posted:
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Looking into past 3 trading halt, the first on 6/24 said pending release of announcements with a ?s? and it came out 3 releases on 6/26. The second one on 11/5 said pending release of announcement without a ?s?and on 11/5 it released an announcement. The latest on 11/14 said pending release of announcement without a ?s?, and it release a news on 11/15 last evening. So I guess this will the only news and halt will be lifted on Monday. Overall the news is neutral.
👍
kt3152 ( Date: 15-Nov-2019 23:09) Posted:
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For those who still wonder where is the article, here it is:
https://www.petroleumnews.com/pntruncate/395161762.shtml
https://www.petroleumnews.com/pntruncate/395161762.shtml
luckyfa ( Date: 15-Nov-2019 21:57) Posted:
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Announcement in the sgx matches the article in the www.petroleumnew.com....think that's why need to align in announcement...
superstartup ( Date: 15-Nov-2019 21:00) Posted:
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Read out petroleumnews.com for good article.,,..very good prospect ahead
Actually good news...the company is moving good ahead....
pkli899 ( Date: 15-Nov-2019 19:46) Posted:
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Should be related.
This report is per regulatory requirements.
But from here, we will know how much they have spent for the Jul to Sep period and the planned expenditures (budget) for the period Oct to Dec.
And an extension from the above, they will need to source for further fundings.
The funds from the rights offering was partly used to pay the term loan entered into to fund the expenditures for the period Apr to Jun this year, plus for further operating expenditures since July. Think no more funds or little left as of to-date.
There should be another announcement.
This report is per regulatory requirements.
But from here, we will know how much they have spent for the Jul to Sep period and the planned expenditures (budget) for the period Oct to Dec.
And an extension from the above, they will need to source for further fundings.
The funds from the rights offering was partly used to pay the term loan entered into to fund the expenditures for the period Apr to Jun this year, plus for further operating expenditures since July. Think no more funds or little left as of to-date.
There should be another announcement.
SmallSmall ( Date: 15-Nov-2019 18:48) Posted:
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better be lifting of halt.Takeover now means offer price wouldn' t be satisfactory to most I suppose.
fighting ( Date: 15-Nov-2019 20:10) Posted:
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1st announcement about expenses
Potential 2nd announcement ask for money or takeover?
Haha.....better than something bad right?
At least now we know they have enough $$, no need seek funding which is bad for all.
At least now we know they have enough $$, no need seek funding which is bad for all.
Starwar88 ( Date: 15-Nov-2019 19:40) Posted:
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Halt 2 days for this announcement? If yes, will pile 3 days worth of selling into one day.
Is this announcement (quarterly report) the reason for the halt?
If so, it turned out to be a non event....haha.
All the wild guesses.
If so, it turned out to be a non event....haha.
All the wild guesses.
Don' t think they are halted for the following announcement:
(Company Registration No. 200310813H) www.alphaenergy.com.sg
DISCLOSURE PURSUANT TO RULES 705(6) AND 705(7) OF THE SINGAPORE EXCHANGE SECURITIES TRADING LIMITED (THE &ldquo SGX-ST&rdquo ) LISTING MANUAL SECTION B: RULES OF CATALIST (THE &ldquo CATALIST RULES&rdquo )
Pursuant to Rules 705(6) and 705(7) of the Catalist Rules, the Board of Directors (&ldquo Board&rdquo ) of Alpha Energy Holdings Limited (the &ldquo Company&rdquo ) wishes to announce the following for the third quarter ended 30 September 2019 (&ldquo 3Q 2019&rdquo ).
Rule 705(6)(a) of the Catalist Rules
(i) Use of funds/cash for the quarter:-
For 3Q 2019, funds/cash were mainly used for the following activities:-
Budget USD
Actual USD
117,000 1,700 193,000 13,000 252,000 4,658,000 509,000 5,743,700
Land & Rentals
Lease Operating Expenditure
Seismic Costs
Base Camp Costs
Development Drilling
Surface Development
Corporate Administrative Expenses
Total 7,235,500
125,000 2,605,000 295,000 120,000 - 3,600,000 490,500
Land & Rentals. The decrease is due to timing difference where a portion of the expenses had been pushed to 4Q 2019.
Lease operating expenditure. The decrease in lease operating expenditure is due to the delay in oil production where such expenses are only incurred when production begins. Oil production began in 4Q 2019.
Seismic costs. The difference is due to less seismic studies being conducted than planned.
Base camp cost, development drilling and surface development. The difference is due to timing difference where the non-essential activities are being deferred to 4Q 2019. Incurrence of minimal development drilling costs in 3Q 2019 relates to preparation work for Mustang 1B.
Corporate administrative expenses. The increase is mainly due to non-recurring professional fees incurred in relation to the Group&rsquo s preparation of the extraordinary general meeting on 15 August 2019 to obtain shareholders&rsquo approval of the rights issue.
Incorporated in the Republic of Singapore
(Company Registration No. 200310813H) www.alphaenergy.com.sg
(ii) Projection on the use of funds/cash for the next immediate quarter, including principal assumptions:-
For the next immediate quarter ending 31 December 2019 (&ldquo 4Q 2019&rdquo ), the funds/cash are expected to be used for the following activities:-
Land & Rentals
Lease Operating Expenditure Seismic Costs
Base Camp Costs
Development Drilling
Surface Development
Corporate Administrative Expenses Total
Budget USD
75,000 3,500,000 200,000 - 3,250,000 3,700,000 150,000 10,675,000
As compared to the actual expenditure incurred in 3Q 2019, the increase in projected expenditure in 4Q 2019 is attributed to deferment of lease operating expenditure from 3Q 2019 and the expected costs incurred for surface development and other field related expenditure. The Group has commenced the development drilling activities for the next well. The Group had on 3 November 2019, safely and successfully delivered its first oil production and oil sales from the North Tarn #1A well to a multinational energy corporation operating on the North Slope in Alaska through the Alpine Pipeline system in accordance to the offtake agreement.
The Company has minimised all non-essential expenditure.
Rule 705(7) of the Catalist Rules
Details of exploration (including geophysical surveys), mining development and/or production activities undertaken by the Company and a summary of the expenditure incurred on those activities, including explanation for any material variances with previous projections, for the period under review. If there has been no exploration, development and/or production activity respectively, that fact must be stated.
Expenses incurred in 3Q 2019 are mainly for surface development in relation to the installation of the early production facility and setting up the 1,100 foot pipeline which connects the project to export markets via the Alpine pipeline.
There were no drilling activities for exploration, development and production undertaken in the 3Q 2019. In 3Q 2019, the variance between budgeted and actual costs was a result of the deferment of certain surface development activities, development drilling and all non- essential activities to 4Q 2019.
Rule 705(6)(b) of the Catalist Rules
Incorporated in the Republic of Singapore
2
(Company Registration No. 200310813H) www.alphaenergy.com.sg
Confirmation by the Board
The Board confirms that, to the best of their knowledge, nothing has come to their attention which may render the above information provided to be false or misleading in any material aspect.
By Order of the Board
Tan Wee Sin Company Secretary 15 November 2019
This announcement has been prepared by the Company and its contents have been reviewed by the Company&rsquo s sponsor, PrimePartners Corporate Finance Pte. Ltd. (the &ldquo Sponsor&rdquo ) in accordance with Rules 226(2)(b) and 753(2) of the Singapore Exchange Securities Trading Limited (the &ldquo SGX-ST&rdquo ) Listing Manual Section B: Rules of Catalist. The Sponsor has also not drawn on any specific technical expertise in its review of this announcement.
This announcement has not been examined or approved by the SGX-ST. The SGX-ST assumes no responsibility for the contents of this announcement, including the correctness of any of the statements or opinions made or reports contained in this announcement.
The contact person for the Sponsor is Ms Gillian Goh, Director, Head of Continuing Sponsorship (Mailing Address: 16 Collyer Quay, #10-00 Income at Raffles, Singapore 049318 and E-mail: [email protected]).
Incorporated in the Republic of Singapore
3
(Company Registration No. 200310813H) www.alphaenergy.com.sg
DISCLOSURE PURSUANT TO RULES 705(6) AND 705(7) OF THE SINGAPORE EXCHANGE SECURITIES TRADING LIMITED (THE &ldquo SGX-ST&rdquo ) LISTING MANUAL SECTION B: RULES OF CATALIST (THE &ldquo CATALIST RULES&rdquo )
Pursuant to Rules 705(6) and 705(7) of the Catalist Rules, the Board of Directors (&ldquo Board&rdquo ) of Alpha Energy Holdings Limited (the &ldquo Company&rdquo ) wishes to announce the following for the third quarter ended 30 September 2019 (&ldquo 3Q 2019&rdquo ).
Rule 705(6)(a) of the Catalist Rules
(i) Use of funds/cash for the quarter:-
For 3Q 2019, funds/cash were mainly used for the following activities:-
Budget USD
Actual USD
117,000 1,700 193,000 13,000 252,000 4,658,000 509,000 5,743,700
Land & Rentals
Lease Operating Expenditure
Seismic Costs
Base Camp Costs
Development Drilling
Surface Development
Corporate Administrative Expenses
Total 7,235,500
125,000 2,605,000 295,000 120,000 - 3,600,000 490,500
Land & Rentals. The decrease is due to timing difference where a portion of the expenses had been pushed to 4Q 2019.
Lease operating expenditure. The decrease in lease operating expenditure is due to the delay in oil production where such expenses are only incurred when production begins. Oil production began in 4Q 2019.
Seismic costs. The difference is due to less seismic studies being conducted than planned.
Base camp cost, development drilling and surface development. The difference is due to timing difference where the non-essential activities are being deferred to 4Q 2019. Incurrence of minimal development drilling costs in 3Q 2019 relates to preparation work for Mustang 1B.
Corporate administrative expenses. The increase is mainly due to non-recurring professional fees incurred in relation to the Group&rsquo s preparation of the extraordinary general meeting on 15 August 2019 to obtain shareholders&rsquo approval of the rights issue.
Incorporated in the Republic of Singapore
(Company Registration No. 200310813H) www.alphaenergy.com.sg
(ii) Projection on the use of funds/cash for the next immediate quarter, including principal assumptions:-
For the next immediate quarter ending 31 December 2019 (&ldquo 4Q 2019&rdquo ), the funds/cash are expected to be used for the following activities:-
Land & Rentals
Lease Operating Expenditure Seismic Costs
Base Camp Costs
Development Drilling
Surface Development
Corporate Administrative Expenses Total
Budget USD
75,000 3,500,000 200,000 - 3,250,000 3,700,000 150,000 10,675,000
As compared to the actual expenditure incurred in 3Q 2019, the increase in projected expenditure in 4Q 2019 is attributed to deferment of lease operating expenditure from 3Q 2019 and the expected costs incurred for surface development and other field related expenditure. The Group has commenced the development drilling activities for the next well. The Group had on 3 November 2019, safely and successfully delivered its first oil production and oil sales from the North Tarn #1A well to a multinational energy corporation operating on the North Slope in Alaska through the Alpine Pipeline system in accordance to the offtake agreement.
The Company has minimised all non-essential expenditure.
Rule 705(7) of the Catalist Rules
Details of exploration (including geophysical surveys), mining development and/or production activities undertaken by the Company and a summary of the expenditure incurred on those activities, including explanation for any material variances with previous projections, for the period under review. If there has been no exploration, development and/or production activity respectively, that fact must be stated.
Expenses incurred in 3Q 2019 are mainly for surface development in relation to the installation of the early production facility and setting up the 1,100 foot pipeline which connects the project to export markets via the Alpine pipeline.
There were no drilling activities for exploration, development and production undertaken in the 3Q 2019. In 3Q 2019, the variance between budgeted and actual costs was a result of the deferment of certain surface development activities, development drilling and all non- essential activities to 4Q 2019.
Rule 705(6)(b) of the Catalist Rules
Incorporated in the Republic of Singapore
2
(Company Registration No. 200310813H) www.alphaenergy.com.sg
Confirmation by the Board
The Board confirms that, to the best of their knowledge, nothing has come to their attention which may render the above information provided to be false or misleading in any material aspect.
By Order of the Board
Tan Wee Sin Company Secretary 15 November 2019
This announcement has been prepared by the Company and its contents have been reviewed by the Company&rsquo s sponsor, PrimePartners Corporate Finance Pte. Ltd. (the &ldquo Sponsor&rdquo ) in accordance with Rules 226(2)(b) and 753(2) of the Singapore Exchange Securities Trading Limited (the &ldquo SGX-ST&rdquo ) Listing Manual Section B: Rules of Catalist. The Sponsor has also not drawn on any specific technical expertise in its review of this announcement.
This announcement has not been examined or approved by the SGX-ST. The SGX-ST assumes no responsibility for the contents of this announcement, including the correctness of any of the statements or opinions made or reports contained in this announcement.
The contact person for the Sponsor is Ms Gillian Goh, Director, Head of Continuing Sponsorship (Mailing Address: 16 Collyer Quay, #10-00 Income at Raffles, Singapore 049318 and E-mail: [email protected]).
Incorporated in the Republic of Singapore
3
Thank you.
This article is an affirmation of earlier one.
Alpha Energy is definitely moving in the right direction.
Bright prospect giving investors a big confidence booster.
This article is an affirmation of earlier one.
Alpha Energy is definitely moving in the right direction.
Bright prospect giving investors a big confidence booster.
luckyfa ( Date: 15-Nov-2019 16:23) Posted:
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Hearsay #3
A is for Alpha. #fromreliablesource
Vol 24 Article 46
17 Nov published
pkli899 ( Date: 15-Nov-2019 15:53) Posted:
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Oil flows oil flows.....good prospect
embracez ( Date: 15-Nov-2019 16:06) Posted:
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Hearsay #2
- proposed takeover with conditions (reliable sources)
- proposed takeover with conditions (reliable sources)
Audermas ( Date: 15-Nov-2019 13:16) Posted:
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Vol 24 Article 45?
10 Nov published.
10 Nov published.
luckyfa ( Date: 15-Nov-2019 15:30) Posted:
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