14 Sept 2016capital raising announcement● Neutral
OBL confirms the Share Purchase Plan offer has been despatched and opened, re-attaching the offer document. Terms are unchanged at 0.8 cents, $1,000 to $15,000.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
7 Sept 2016capital raising announcement● Neutral
Offer booklet for the 0.8-cent Share Purchase Plan announced earlier the same day, with $1,000 to $15,000 parcels. It states 215,393,561 shares were on issue. No new terms.
7 Sept 2016capital raising announcement● NeutralMajor
OBL announced a Share Purchase Plan at 0.8 cents per share, a premium to recent trading, open 14-28 September 2016 with applications of $1,000 to $15,000. If fully subscribed it would raise about $516,000 from some 64.6 million new shares.
What it means for a shareholder
64.6m new shares at about A$0.008 to raise about A$516,000. That's 23% dilution: every existing holder's slice gets 23% smaller. If you held A$1,000 of shares (125,194 at the issue price), your slice goes from 0.0581% to 0.0447% of the company. To keep it you'd need 37,548 more shares - about A$300 at the issue price.
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11 Aug 2016capital raising announcement● NeutralMajor
OBL places 36.5 million new shares at 0.7 cents, raising $255,500 gross from sophisticated investors for working capital. A small raise that adds to dilution after the post-consolidation share count rose.
What it means for a shareholder
36.5m new shares at A$0.007 to raise about A$255,500. That's 14% dilution: every existing holder's slice gets 14% smaller. If you held A$1,000 of shares (142,857 at the issue price), your slice goes from 0.0663% to 0.0567% of the company. To keep it you'd need 24,208 more shares - about A$169 at the issue price.
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30 Sept 2015capital raising announcement● NeutralMajor
Oil Basins agreed a placement of 37.5 million shares at 0.4 cents to raise $150,000 for working capital and the Derby Block and Gippsland work programs. The price matches the April placement, with completion expected around 1 October.
What it means for a shareholder
37.5m new shares at A$0.004 to raise about A$150,000. That's 3.4% dilution: every existing holder's slice gets 3.4% smaller. If you held A$1,000 of shares (250,000 at the issue price), your slice goes from 0.0232% to 0.0224% of the company. To keep it you'd need 8,704 more shares - about A$35 at the issue price.
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27 Apr 2015capital raising announcement▼ BadMajor
Oil Basins placed 72.5 million shares at 0.4 cents to existing investors, raising $290,000 for working capital and Derby Block and Gippsland work programs. Price is below January's 0.5 cent placement, continuing a falling issue price.
What it means for a shareholder
72.5m new shares at A$0.004 to raise about A$290,000. That's 6.9% dilution: every existing holder's slice gets 6.9% smaller. If you held A$1,000 of shares (250,000 at the issue price), your slice goes from 0.0256% to 0.0238% of the company. To keep it you'd need 18,573 more shares - about A$74 at the issue price.
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7 Jan 2015capital raising announcement▼ BadMajor
Oil Basins placed 47 million shares at 0.5 cents to existing sophisticated investors, raising $235,000 for working capital. This is well below the 0.8 cent price of the September 2014 placement and share purchase plan.
What it means for a shareholder
47.0m new shares at A$0.005 to raise about A$235,000. That's 4.8% dilution: every existing holder's slice gets 4.8% smaller. If you held A$1,000 of shares (200,000 at the issue price), your slice goes from 0.0215% to 0.0205% of the company. To keep it you'd need 10,120 more shares - about A$51 at the issue price.
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10 Oct 2014capital raising announcement● NeutralMajor
The share purchase plan closed 6 October raising $405,000 from 62 shareholders, with 50,625,000 shares at 0.8c. That is well short of the ~$1.9m possible maximum announced in September.
What it means for a shareholder
50.6m new shares at A$0.008 to raise about A$405,000. That's 5.6% dilution: every existing holder's slice gets 5.6% smaller. If you held A$1,000 of shares (125,000 at the issue price), your slice goes from 0.0146% to 0.0138% of the company. To keep it you'd need 7,380 more shares - about A$59 at the issue price.
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19 Sept 2014capital raising announcement● Neutral
Share purchase plan documents were sent to eligible shareholders and the offer opens 22 September at 0.8c, an 11.1% discount to the 12 September close. It is first-come, can be scaled back, and closes 6 October. Repeats the earlier announcement.
15 Sept 2014capital raising announcement● NeutralMajor
Oil Basins placed 70 million shares at 0.8c to existing sophisticated investors, raising $560,000 for working capital and Derby Block. Priced well below the 1.25c placement in June, so it dilutes more per dollar raised.
What it means for a shareholder
70.0m new shares at A$0.008 to raise about A$560,000. That's 8.2% dilution: every existing holder's slice gets 8.2% smaller. If you held A$1,000 of shares (125,000 at the issue price), your slice goes from 0.0159% to 0.0146% of the company. To keep it you'd need 11,112 more shares - about A$89 at the issue price.
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15 Sept 2014capital raising announcement● NeutralMajor
Oil Basins plans a share purchase plan at 0.8c for all shareholders, $1,000 to $15,000 each, open 22 September to 6 October. If fully subscribed it would raise about $1.9m from about 236m new shares.
What it means for a shareholder
236m new shares at about A$0.0081 to raise about A$1.9m. That's 23% dilution: every existing holder's slice gets 23% smaller. If you held A$1,000 of shares (124,211 at the issue price), your slice goes from 0.0158% to 0.0121% of the company. To keep it you'd need 37,227 more shares - about A$300 at the issue price.
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30 June 2014capital raising announcement● NeutralMajor
Oil Basins placed 35 million shares at 1.25c to raise $437,500 for working capital, from professional investors. The company says this is a roughly 35% premium to recent trading. Follows the March quarter cash of $410k and the Lind facility.
What it means for a shareholder
35.0m new shares at A$0.0125 to raise about A$437,500. That's 4.6% dilution: every existing holder's slice gets 4.6% smaller. If you held A$1,000 of shares (80,000 at the issue price), your slice goes from 0.0111% to 0.0106% of the company. To keep it you'd need 3,874 more shares - about A$48 at the issue price.
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10 Jan 2014capital raising announcement● NeutralMajor
Oil Basins placed about 13.4m shares at 1.5 cents to raise $201,500 from long-term local shareholders for working capital. This is another small raising at the lower price.
What it means for a shareholder
13.4m new shares at A$0.015 to raise about A$201,500. That's 2.0% dilution: every existing holder's slice gets 2.0% smaller. If you held A$1,000 of shares (66,667 at the issue price), your slice goes from 0.01% to 0.00984% of the company. To keep it you'd need 1,345 more shares - about A$20 at the issue price.
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12 Dec 2013capital raising announcement● NeutralMajor
Oil Basins placed 7m shares at 1.5 cents to raise $105,000 from long-term shareholders. The price is below the 2 cents of recent placements.
What it means for a shareholder
7.0m new shares at A$0.015 to raise about A$105,000. That's 1.1% dilution: every existing holder's slice gets 1.1% smaller. If you held A$1,000 of shares (66,667 at the issue price), your slice goes from 0.0101% to 0.01% of the company. To keep it you'd need 710 more shares - about A$11 at the issue price.
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30 Sept 2013capital raising announcement● NeutralMajor
Oil Basins placed 21m shares at 2 cents to raise $420,000 for working capital, each with a free 4-cent OBLOB option expiring 30 June 2014. It uses the expanded placement capacity approved at the 12 September meeting.
What it means for a shareholder
21.0m new shares at A$0.020 to raise about A$420,000. That's 3.4% dilution: every existing holder's slice gets 3.4% smaller. If you held A$1,000 of shares (50,000 at the issue price), your slice goes from 0.00828% to 0.008% of the company. To keep it you'd need 1,738 more shares - about A$35 at the issue price.
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7 Aug 2013capital raising announcement● NeutralMajor
Oil Basins placed 10m shares at 2 cents to raise $200,000 from international professional investors, partly to help market to Chinese-based investors. It is top-up working capital while awaiting the Derby Block grant, following the $100k placement in July.
What it means for a shareholder
10.0m new shares at A$0.020 to raise about A$200,000. That's 1.7% dilution: every existing holder's slice gets 1.7% smaller. If you held A$1,000 of shares (50,000 at the issue price), your slice goes from 0.00842% to 0.00828% of the company. To keep it you'd need 842 more shares - about A$17 at the issue price.
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5 July 2013capital raising announcement● NeutralMajor
Oil Basins placed 5m shares at 2 cents to raise $100,000 from international investors, with a 1-for-4 free OBLOB option. It calls this top-up cash while awaiting the Derby Block grant, now expected in August 2013.
What it means for a shareholder
5.0m new shares at A$0.020 to raise about A$100,000. That's 0.842% dilution: every existing holder's slice gets 0.842% smaller. If you held A$1,000 of shares (50,000 at the issue price), your slice goes from 0.00849% to 0.00842% of the company. To keep it you'd need 424 more shares - about A$8 at the issue price.
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30 Apr 2013capital raising announcement● NeutralMajor
The share purchase plan raised $474,000 from 100 holders, issuing 23.7m shares at 2 cents on 3 May. That is far below the $3.285m maximum. Cash was only $342k at December.
What it means for a shareholder
23.7m new shares at A$0.020 to raise about A$474,000. That's 4.0% dilution: every existing holder's slice gets 4.0% smaller. If you held A$1,000 of shares (50,000 at the issue price), your slice goes from 0.00884% to 0.00849% of the company. To keep it you'd need 2,096 more shares - about A$42 at the issue price.
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9 Apr 2013capital raising announcement● Neutral
The share purchase plan offer documents were sent to shareholders and the offer opened at 2.0 cents, closing 26 April. The chairman's letter lists the expected Derby Block grant and the Octanex farm-in among the company's drivers. No new figures.
3 Apr 2013capital raising announcement● NeutralMajor
Oil Basins plans a share purchase plan at 2.0 cents, below the 3.5c January placement, open to existing holders for $1,000-$15,000 each until 26 April. Fully subscribed it would raise about $3.285m from 164m shares. Cash was only $342k at December.
24 Jan 2013capital raising announcement▲ GoodMajor
Oil Basins placed 17.85m shares at 3.5c (about $625k) with free options, and will sell 25% of the Derby Block to Octanex for $1.75m. This replaces the failed Fortescue deal, with far less dilution. Albers Group rises to 9.97%.
What it means for a shareholder
17.9m new shares at A$0.035 to raise about A$625,000. That's 3.2% dilution: every existing holder's slice gets 3.2% smaller. If you held A$1,000 of shares (28,571 at the issue price), your slice goes from 0.00522% to 0.00505% of the company. To keep it you'd need 931 more shares - about A$33 at the issue price.
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15 Nov 2012capital raising announcement▲ GoodMajor
Fortescue Metals agreed to take 120m shares at 3.5c ($4.2m, about 18%) plus 100m options at 9c, its first oil and gas investment. It would also get a priority 25% Derby Block farm-in for $1.75m. Subject to final contracts.
What it means for a shareholder
120m new shares at A$0.035 to raise about A$4.2m. That's 18% dilution: every existing holder's slice gets 18% smaller. If you held A$1,000 of shares (28,571 at the issue price), your slice goes from 0.00522% to 0.00428% of the company. To keep it you'd need 6,262 more shares - about A$219 at the issue price.
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27 Feb 2012capital raising announcement▲ GoodMajor
Oil Basins placed a further 50 million shares at 3.2 cents to raise $1.6m, a 7% premium to the 30-day average price. It uses the last of the AGM-approved capacity and funds the 2012 program, including the Backreef-1 production test.
What it means for a shareholder
50.0m new shares at A$0.032 to raise about A$1.6m. That's 11% dilution: every existing holder's slice gets 11% smaller. If you held A$1,000 of shares (31,250 at the issue price), your slice goes from 0.0079% to 0.00702% of the company. To keep it you'd need 3,952 more shares - about A$126 at the issue price.
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30 Jan 2012capital raising announcement● NeutralMajor
Oil Basins placed 50 million shares at 2.5 cents to raise $1,250,000, using capacity approved at the 29 November AGM. Funds the 2012 program including the Backreef-1 production test. Cash was $287,757 at 31 December.
What it means for a shareholder
50.0m new shares at A$0.025 to raise about A$1.3m. That's 13% dilution: every existing holder's slice gets 13% smaller. If you held A$1,000 of shares (40,000 at the issue price), your slice goes from 0.0116% to 0.0101% of the company. To keep it you'd need 5,792 more shares - about A$145 at the issue price.
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16 Sept 2011capital raising announcement● NeutralMajor
The share purchase plan closed raising $1,104,025 before costs, about half the $2.25m target. 44,161,000 shares at 2.5 cents will be issued on 19 September 2011, with 155 shareholders participating.
What it means for a shareholder
44.2m new shares at A$0.025 to raise about A$1.1m. That's 13% dilution: every existing holder's slice gets 13% smaller. If you held A$1,000 of shares (40,000 at the issue price), your slice goes from 0.0133% to 0.0116% of the company. To keep it you'd need 5,865 more shares - about A$147 at the issue price.
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22 Aug 2011capital raising announcement● Neutral
The share purchase plan offer documents were sent on 19 August and the offer is open at 2.5 cents, closing 12 September 2011. Administrative step, no new terms.
15 Aug 2011capital raising announcement● NeutralMajor
Oil Basins announced a share purchase plan at 2.5 cents, a 16.6% discount, for existing holders ($500 to $15,000 each). If fully subscribed it raises about $2.25m from roughly 90m shares, following cash falling to $263,381.
14 Jan 2011capital raising announcement● NeutralMajor
Oil Basins placed 28 million shares at 3.0 cents to raise $840,000, with a free 1-for-4 OBLOA option (1.5c, expiring 30 June 2012). Funds the Backreef-1 technical assessment and working capital. Priced below the 4.0c noted in December.
What it means for a shareholder
28.0m new shares at A$0.030 to raise about A$840,000. That's 9.4% dilution: every existing holder's slice gets 9.4% smaller. If you held A$1,000 of shares (33,333 at the issue price), your slice goes from 0.0124% to 0.0112% of the company. To keep it you'd need 3,463 more shares - about A$104 at the issue price.
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24 Sept 2010capital raising announcement▲ GoodMajor
The board allots the full 80.9m-share shortfall plus 20.2m options, so the rights issue ends up raising $5,286,374 before costs. This completes the funding for Backreef-1, resolving the earlier shortfall.
16 Sept 2010capital raising announcement▼ BadMajor
Rights issue closed 13 September with only $2,071,062 raised for 51.8m shares, well short of the $5.26m target. A shortfall of 80.9m shares remains, with about 79.8m underwritten by Patersons.