IND (ASX) Ann: Quarterly Activities Report

Originally posted by Sentia717: ↑

Gosh what can I say ? You certainly know how to ask the hard ones. Well let's see what we can glean from the limited information we have to go on.
So let's have a look at New Era to begin with : -
New Era is a private company at present (so very limited published information available....basically zilch)
In the initial announcement (18 Oct 2018) New Era is decribed as "a South Australian based private oil and gas company focussed on opportunities in the Cooper and Eromanga basin in South Australia and Queensland
Incorporated as a company in 2011 in Adelaide, South Australia
Entity name is NEW ERA OIL AND GAS PTY LTD
ABN is given as 44 152 048 292 and has been active since 12 July 2011
Now what else can be found ?
Apparently Gordon Moseby is given as the Managing Director of New Era from April 2018 (so been there a year basically)
He has also been involved as a consultant in the oil and gas sector since 2017
Gordon Moseby had been involved with Beach Energy for a number of years prior to that in different management capacities. Began with Beach Energy in Feb 2002 and finished in Nov. 2015
Prior to 2002 he was employed by Oil Search Ltd for just over 5 years
So a solid background in the industry
We were also told in the announcement (18 Oct. 2018) that "The New Era Board and management includes a team of highly experienced oil and gas professionals who will drive the exploration and development process."
So it would appear that New Era's O&G credentials seem to be very sound.
What else have we been told that appears to be relevant ?
Again from that initial announcement (18 Oct 2018) we were told that New Era had "executed a term sheet to farm into 50% positions in two onshore oil and gas exploration blocks in the Cooper basin in South Australia"
So we are not told who has the other 50% in each block and who is the operator and whether there is a planned drilling campaign to take place.
In that same announcement we are told that the New Era BOD has a focus on acquiring further onshore Australian assets, specifically in the Cooper and Eromanga basins.
Trying to interpret things further :
For the purpose of getting the show on the road it would appear that the submission from New Era and Indus to the ASX has provided the intended farm in positions to 50% of two exploration blocks by New Era as the "collateral" in a sense to show that this is genuine, bone fide deal being done. (At least that is my interpretation)
The ASX for its part has decided that there needs to be a bit more put into the pot by the sounds of things so far as the asset portfolio is concerned. As ordinary shareholders at the moment we have virtually no information about what New Era actually has on its books in the way of exploration assets or whether it currently has any producing assets
All we know is that we have been told that once things have been checked out and approved and due diligence done then all will be revealed and we will get to know what New Era has and therefore what Indus will be a part of once the reverse takeover has been accomplished.
Who knows ?
So are there any clues in that collection of information that anybody can track down who New Era has teamed up with to get a 50% farm in agreement?
Is there anybody out there who has contacts in the Cooper basin area that might have heard a bit of information ?
when we eventually get the announcement that it is all approved by the ASX and things are going to start happening perhaps in a few weeks then we will all know.

I hope some of the above compilation of information is helpful or may prompt a line of investigation that can throw some further light on things. We can but hope.

Expand

Oh I forgot to mention that while I was poking about I did come across a few little details that I was intrigued by. Of course they may be totally irrelevant and non consequential. But while I was looking at New Era's ABN details I ended up on an ASIC information page and towards the bottom of the page I saw that there were some documents that had been filed. The first (7EAF79540) on 6 November 2018 and then (7EAF8152) on 7 November 2018 and the most recent (7EAI73506) on 20 February 2019. These documents are company details apparently. You can pay a fee and get the copies if you feel keen. Now whether they have any relevance to the current situation I have no idea. In my fevered brow moment I thought it might relate to the dialogue with ASX over what assets were being included but that might be totally off target. Maybe someone with more familiarity with such documents can clarify their natiure. Cheers

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Last 17.5¢		Change 0.000(0.00%)		Mkt cap ! $13.46M

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