HIGH PEAK ROYALTIES LIMITED 29 April 2022
MARCH 2022 QUARTERLY REPORT
ACTIVITY AND PORTFOLIO REVIEW
High Peak Royalties is pleased to announce the March Quarter Statement of Activity and Cash Flows. HPR has a portfolio of royalties in Australia and USA as detailed on the final page of the Activities Report.
Quarterly cash receipts were $296,919, which is a significant increase on the prior quarter. Cash at the end of the quarter was $910,126. During the quarter, $22,500 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 $201,868 recorded for the March quarter compared to the December quarter of $154,806. 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 31 March 2022 the total owing on the facility was US$1,250,000 (AU$1,670,676).
Australia
HPR received payment from Origin and has been reviewing the calculation of royalties with data provided by Origin. HPR notes there is a lag in royalty payments relative to the sale of gas by Origin. Recent significant increase in commodity prices should flow to future royalty payments.
HPR continues to monitor the other permits where HPR has royalties, including those operated by Shell (formerly BG, QGC) where drilling has identified significant coal-seam methane resources. The areas adjacent to the HPR royalty areas have been developed and are producing.
High Peak continues to monitor its royalty portfolio and activity as announced that is relevant to the underlying permits.
RECENT ANNOUNCEMENTS
Summary of announcements during the period to release of this report:
Date | Announcement |
31/01/2022 | December Quarterly Appendix 5B and Activities Report |
14/02/2022 | Origin Royalty Receipts and Portfolio Update |
15/02/2022 | Becoming a substantial holder |
16/03/2022 | Half Year Financial Report |
08/04/2022 | Appendix 3Y |
19/04/2022 | 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
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, PL95, PL169, PL170, PL293, PL294, PL295 and PL298 | 3.6/4.0 | Santos |
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 Field | 0.10 | Santos |
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 Coast Basins) | 0.20 to 0.40 | Sabine Oil and Gas, Pioneer Natural Resources and Wagner 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 Basin | 1.5% GOR 1.5% NSR | Metalicity Ltd |
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 |
Rule 5.5
Appendix 5B
Mining exploration entity or oil and gas exploration entity quarterly cash flow report
Name of entity
High Peak Royalties LimitedABN
79 118 065 704
Quarter ended ("current quarter")
31 March 2022
Consolidated statement of cash flows | Current quarter $A'000 | Year to date (9 months) $A'000 |
| 297 - - - (28) (53) - - (24) - - - | 617 - - - (139) (231) - - (90) - - - |
192 | 157 |
2. 2.1
Cash flows from investing activities Payments to acquire or for:
ASX Listing Rules Appendix 5B (17/07/20)
(a) | entities | - | - |
(b) | tenements | - | - |
(c) | property, plant and equipment | - | - |
(d) | exploration & evaluation | - | - |
(e) | investments (royalties acquired) | - | (400) |
(f) | other non-current assets | - | - |
Page 4 |
Appendix 5B
Mining exploration entity or oil and gas exploration entity quarterly cash flow report
Consolidated statement of cash flows | Current quarter $A'000 | Year to date (9 months) $A'000 |
| - - - - - - - - | - - - - - - - - |
- | (400) |
| - - - - - - - - - | 800 - - (58) - (342) - - - |
- | 400 |
4. Net increase / (decrease) in cash and cash equivalents for the period | ||
| 734 192 - - | 762 157 (400) 400 |
ASX Listing Rules Appendix 5B (17/07/20)
Page 5
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High Peak Royalties Limited published this content on 29 April 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 29 April 2022 08:51:02 UTC.
