leadf
logo-loader
viewHigh Peak Royalties Ltd

High Peak Royalties achieves significant increase in cash receipts

The company has a portfolio of diversified high-value resource royalties around the world.

oil barrel
Current strong oil prices will be reflected in the next quarter

High Peak Royalties Ltd (ASX:HPR) has achieved an 83% increase in cash receipts from royalties compared to the previous two quarters.

During the March 2019 quarter, cash receipts from royalties were $163,796 compared to about $197,000 over the half year to December 2018.

The surge in royalties is primarily due to the acquisition of Planet Gas USA (completed in the December quarter) and the oil price recovery positively influencing royalty income.

Due to the timing of payments, current strong oil prices will be reflected in the next quarter.

US

High Peak continues to receive revenue from existing multiple royalties in the US.  Oil prices continued to increase over the March 2019 quarter after the low ebb in December.

Gas prices have oscillated throughout the period, however they have remained steady on average overall.

Queensland

High Peak continues to receive royalties on the Peat Gas Field.

Origin Energy Ltd (ASX:ORG) has previously reported that it has drilled and intends to flow test the South Burunga-2 deep gas well that will test the large potential of the Bowen Basin below the currently producing shallow Surat Basin coal seam gas.

Northern Territory

Santos Ltd (ASX:STO) revealed on April 16 that the Dukas-1 well was spudded.

High Peak continues to monitor the progress on this well, as the company holds a 1% royalty on this permit.

It is expected that this well will have a total depth of 3,600 m and is expected to provide Helium and Hydrogen as well as large volumes of hydrocarbons.

Quick facts: High Peak Royalties Ltd

Price: 0.063 AUD

ASX:HPR
Market: ASX
Market Cap: $11.9 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of High Peak Royalties Ltd named herein, including the promotion by the Company of High Peak Royalties Ltd in any Content on the Site, the Company...

FOR OUR FULL DISCLAIMER CLICK HERE

High Peak Royalties chairman reports steady revenues and says they're...

High Peak Royalties (ASX:HPR) chairman Andy Carroll tells Proactive's Andrew Scott revenues in the quarter to June 2020 have been steady with particularly strong income in Australia which have offset the lower commodity prices in the US. Carroll says the real upside potential for the company's...

on 3/8/20

2 min read