Posts Tagged ‘AGL Energy’

ASX Company News: Galilee Energy Discovers Gas At Galilee Project

Thursday, October 6th, 2011

Galilee Energy Limited (GLL) announced that the operator, AGL Energy Limited (AGK), of the Galilee Gas Project has reported the project’s first gas discovery.  Glenaras 6, part of the Glenaras close-spaced five-spot production pilot, started to flow at a steady rate of approximately 54 Mscf per day for a period of four days before the well was temporarily shut down for maintenance.

The geological significance of this gas flow is that it constitutes the first measurement of a stabilised gas flow from a coal seam gas pilot in the Galilee Basin. Glenaras 6 is a cased and fracture stimulated well that accesses the R3 to R7 coal seams of the Betts Creek Beds.

Operation of the Glenaras pilot continues.  Glenaras 2, 4 and 6 are operating and continue to depressure the coals.    Glenaras 3 and 5 are shut down awaiting installation of new pumps in October.

The three hole Glenaras step-out drilling campaign has successfully completed  wells  GA07, GA08 and GA09.  This campaign included drilling three vertical wells and recovering core from GA07 and GA08 (Core recovery was not required from GA09 due to  the close  proximity of Crossmore South  01  previously cored).  All wells were wireline logged and tested for permeability, full reports are awaited.  The wells are suspended for future  use as  production wells.

“AGL embedded key lessons learnt from earlier exploration and introduced technology to drill exploration wells with high quality core recovery which can be used as future production wells.   This demonstrates our joint focus on operational excellence and capital efficiency,” CEO Glenn Haworth said.

www.galilee-energy.com.au

http://www.traderdealer.com.au/fundamentals/gll

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Using Market Analyser to Identify Some Gems in the Rough

Friday, June 10th, 2011

The overall Australian market has delivered a pretty dismal performance this year and is down 5 percent year-to-date on the ASX/S&P 200. Despite these conditions there are ways to find stocks with potential.

Take A Closer Look at the Energy Sector

The latter half of the calendar year is typically good for energy prices, so if crude oil can remain above the $US95 per barrel mark, then this should provide support for our energy sector near term.

The energy sector has managed to produce some modest gains and with the crude oil price still hovering around the $US100 mark, stock prices are getting some support.

This week OPEC (The Organization of the Petroleum Exporting Countries) met and failed to agree on any increases in production near-term, which again should be supportive of crude oil prices.

Market Analyser Can Help

You can use the Market Analyser software to identify keys stocks that are exhibiting positive momentum, even though the broader market has been in the doldrums.

Start by using the Watchlist Wizard tool to quickly create a watchlist of stocks from the ASX’s Energy GICS sector. (See below for instructions on using the Watchlist Wizard).

We can then use a simple moving average scan to identify energy stocks that are showing positive momentum. In this sample scan we will look for stocks where the 5 day moving average (MAv) is above the 13 day moving average, which is above the 21 day and the 50 day moving average.

Set up this scan through the Analyser Wizard, a handy tool within the Market Analyser allowing you to easily build custom indicators. For help with this tool check this recent post.

Analyser Wizard in the Market Analyser software

The scan produced the following list:

These are obviously stocks that are currently in play. You may want to research these companies further before entering a trade.

A sample chart of one of the stocks from the above scan is Linc Energy:

Summary

Utilitse the features in Market Analyser to scan the markets for your specific trade selection criteria. You will save time and perhaps identify some gems.

For Buy and Sell recommendations on ASX listed companies register for a FREE trial of MDS Financial Research.

Instructions – Using the Watchlist Wizard

1. In Market Analyser, open a watchlist window by selecting Menu > Watchlist
2. Click on the Watchlists item on the top menu bar, and select Watchlist Wizard.
3. In the Watchlist Wizard window click Next, select Australia from the Countries list, then select ASX Energy (GIC) from the Available Watchlists list on the right of the window.
4. Click the Update button. Your new Energy sector watchlist “ASX Energy (GIC)” will now be available from your watchlist window.

Disclaimer: The information provided within this article is not an invitation to trade a specific stock, but is intended for educational purposes only.

By Michael Hevern
Head of Research

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Dividends: AGL Energy Ex Dividend On 18/3/2011

Thursday, March 17th, 2011

AGL Energy Limited (AGK) will go ex dividend on 18/3/2011. The current dividend payment is 29 cents and it is 0% franked. The record date is 24/3/2011 and the dividend will be paid on 14/4/2011. Based on the full year payment the dividend yield is 4.2%.

*Current Yield: 2.1% Franking: 0% DRP Discount: Not Available

AGL Energy Limited

*Yield has been calculated on the closing price on the 14/3/2011. Current yield is based on the current dividend payment only.

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Dividends: AGL Energy Ex Dividend On 18/3/2011

Friday, March 11th, 2011

AGL Energy Limited (AGK) will go ex dividend on 18/3/2011. The current dividend payment is 29 cents and it is 0% franked. The record date is 24/3/2011 and the dividend will be paid on 14/4/2011. Based on the full year payment the dividend yield is 4.1%.

*Current Yield: 2.0% Franking: 0% DRP Discount: Not Available

AGL Energy Limited

*Yield has been calculated on the closing price on the 27/2/2011. Current yield is based on the current dividend payment only.

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NSW Power Privatisation – Winners and Losers

Wednesday, December 15th, 2010

The New South Wales government has undertaken a 2-year process to address its energy reform strategy. Part one of its power privatisation, involving the exiting of electricity retailing by the government, was completed late last night, with confirmation the $5.3 billion deal had been awarded to a consortium including Origin Energy and Hong Kong-based TRUenergy. The deal means the consortium will take over the three state-owned electricity retailers and the trading rights to power from two stations.

There are a number of winners and losers as a result of this deal.

The Losers

* AGL shareholders who suffered a slump in their shareholder value, after it was reported that AGL lost the deal.
* AGL corporation, as it loses its dominance in the retail energy supply business. AGL is now only the third-largest company in the retail electricity arena with a 10 percent market share.
* The energy company directors who resigned en masse. Eleven resignations came from the boards of power generators Delta and Eraring, who had concerns about their responsibilities resulting from the deal.
* NSW electricity consumers, who potentially face higher electricity prices, though the NSW government says there will be a more competitive electricity market.
* Origin has been put on negative debt watch by the Standard and Poor’s ratings agency, due the funds it will have to raise to fund the deal.
* NSW taxpayers lose out if the NSW Greens are correct in arguing the government could have raised more money on the deal. The opposition said that the deal bid represents only half of the true value of the assets.

The Winners

* The New South Wales Labor government, in finally realising the deal with the approval from the ACCC.
* Origin, because through the deal it becomes the largest retail energy supplier in the country.
* The Hong-Kong based TRUenergy gets access to the Australian power supply sector.
* TRUenergy and Origin through the deal will emerge with a combined 85 percent of the state’s power market.

Our View

Investors need to get on the shareholder register to be eligible to participate in any capital raising(s) that are likely to result from this deal. Monitor the rhetoric that will no doubt unfold near-term in the lead-up to the next state elections, due in March next year.

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Dividends: AGL Energy Ex Dividend On 6/9/2010

Monday, August 30th, 2010

AGL Energy Limited (AGK) will go ex dividend on 6/9/2010. The current dividend payment is 30 cents and it is 0% franked. The record date is 10/9/2010 and the dividend will be paid on 30/9/2010. Based on the full year payment the dividend yield is 3.9%.

*Current Yield: 2.0% Franking: 0% DRP Discount: Not Available

AGL Energy Limited

*Yield has been calculated on the closing price on the 26/8/2010. Current yield is based on the current dividend payment only.

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ASX Company News: Leighton Awarded $1 Billion Windfarm Project By AGL

Friday, August 13th, 2010

Leighton Contractors, in consortium with Vestas, has been awarded a contract by the AGL and Meridian Joint Venture for the $1billion Macarthur Wind Farm development in the Western Districts of Victoria.

Proposed as the largest wind farm in the southern hemisphere, the farm will generate up to 420  Megawatts of electricity – enough energy to power around 220,000 average Victorian homes each year. It is expected the first section of the wind farm will be complete in May 2012, with a total project completion date scheduled for early 2013.

Leighton Contractors will undertake the engineering, procurement and construction (EPC), consisting of associated balance of plant design, construction and commissioning of the electrical, mechanical and civil works. The value of the contract to the company is approximately $290 million.

Peter McMorrow, Managing Director of Leighton Contractors, said the company was thrilled to be selected by the AGL and Meridian joint venture, in consortium with Vestas. “Leighton Contractors is extremely proud to be working on such an iconic project on behalf of AGL and Meridian,” he said.

“This is a vital piece of infrastructure for the renewable energy industry and the wider community. Our priority will be to deliver a quality project on time, while ensuring our teams meet world class safety standards. “Australia has excellent wind resources by world standards and this project will assist AGL and Meridian to further utilise this resource to reduce CO2 emissions and contribute to a more environmentally sustainable future for Australia.  “As a company, Leighton Contractors is investing significantly in exploring a range of options for alternative energy across the country in collaboration with our technology partners.  “This announcement is great recognition for our commitment to this area – we’re pleased to be a part of this dynamic industry during a period of such growth.”

The scope of works for the two contracts is inclusive of the Macarthur Wind Farm 33/132kV sub-station, Tarrone 132/500kV terminal sub-station, 12 km of 132kV overhead transmission line to the Tarrone terminal sub-station, 33kV underground cable collector systems, sub-station SCADA interface, as well as the international shipping, local transportation and mechanical erection of the 85 metre towers, machine heads and blades.

www.leighton.com.au

http://www.traderdealer.com.au/Fundamentals/lei

www.agl.com.au

http://www.traderdealer.com.au/Fundamentals/agl

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AGL to win from from the ETS

Monday, November 30th, 2009

The carbon pollution reduction scheme (CPRS) will put a dent in airline valuations but will provide AGL and Origin with scope for improvement, according to a Deutsche Bank report.

The report suggests that an increase in free permits and energy industry assistance have nudged AGL over the line to be a net beneficiary of the ETS legislation.

Other winners:

  • BHP Billiton
  • Origin
  • Bluescope Steel
  • Caltex

The value of Virgin Blue and Qantas is expected to fall by 4-10%.

Stephen Mayne noted last week that the passage of the ETS bill through the lower house had little impact on the stock market or on specific company share prices.

AGL Energy
ASX Code: AGK

Chart source: Market Analyser. Sign up for a free charting software trial!

For more on this news story:

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AGL Sells Windfarm Assets

Friday, October 2nd, 2009

AGL Energy Limited (AGL) today announced it has sold the 132.3 MW Hallett 4 wind farm to the Energy Infrastructure Investments (EII) consortium, made up of Marubeni Corporation (39.9%), Osaka Gas (39.9%) and APA Group (20.2%), and expects to realize a development fee of $88 million from the transaction. The development fees will be recognised progressively on a “completion of construction” basis with $50 million – $60 million currently anticipated to be recognised in FY2010, and the balance in FY2011. AGL will continue to operate and maintain the wind farm, as well as retain the rights to all Renewable Energy Certificates and electricity output until 2036. EII will take an active role in the monitoring of construction and operation of the facility.

AGL’s Chief Executive Officer, Mr Michael Fraser said: “The structure of this transaction where AGL retains all output, renewable energy certificates and operatorship, is consistent  with the company’s strategy to maintain its leadership position in renewable energy generation. The transaction demonstrates the solid appetite for quality projects which deliver significant benefits to both parties.  “AGL has a substantial pipeline of projects which include up to 2,600 MW of renewable generation and up to 1,600 MW of gas generation. Our renewable energy portfolio places AGL in a market leading position to benefit under the expanded Renewable Energy Target.”

Using a transaction structure similar to AGL’s September 2008 sale of the Hallett 2 wind farm, EII has acquired Hallett 4 and will fund all remaining development and construction costs under project finance facilities established as part of the transaction. EII will own the  wind farm, while AGL will buy all of the electricity and Renewable Energy Certificates produced as well as operate and maintain the facility under long term fixed cost arrangements.  From a cash flow perspective, the sale relieves AGL from ongoing development capital  expenditure funding which is forecast to be approximately $160 million from October 2009 through to anticipated project commissioning in May 2011 and recoups the development costs of approximately $150 million incurred to date.

AGL is Australia’s largest private owner and operator of renewable energy assets with over  900 MW of capacity currently in operation. AGL is one of Australia’s leading integrated energy companies and is taking action toward creating a sustainable energy future for our investors, communities and customers. Drawing on over 170 years of experience, AGL operates retail and merchant energy businesses, power generation assets and an upstream gas portfolio. AGL has Australia’s largest retail energy and dual fuel customer base. AGL has a diverse power generation portfolio including base, peaking and intermediate generation plants, spread across traditional thermal generation as well as renewable sources including hydro, wind, landfill gas and biomass. AGL is Australia’s largest private owner and operator of renewable energy assets and is looking to further expand this position by exploring a suite of low emission and renewable energy generation development opportunities.

www.agl.com.au

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AGL Energy Ex Dividend on 4/9/2009

Monday, August 31st, 2009

AGL Energy Limited (AGK) will go ex dividend on 4/9/2009. The current dividend payment is 28.0 cents and it is 100% franked. The record date is 10/9/2009 and the dividend will be paid on 30/9/2009. Based on the full year payment the dividend yield is 4.0%.

Current Yield 2.1% Franking: 100% DRP Discount: 0%

www.agl.com.au/

*Yield has been calculated on the closing price on the 26/8/2009. Current yield is based on the current dividend payment only.

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