Past year: ▲ 0%(0.10c – 0.10c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
5 July 2021capital raising announcement● NeutralMajor
The entitlement offer closed with eligible shareholders taking only 52.9m of 2,044.6m shares ($158,805). The directors' entities took up the 1,991.6m-share shortfall ($5.97m). Shares issue on 7 July 2021.
20 May 2021capital raising announcement● Neutral
Cover letter to eligible shareholders restating the 1-for-1 offer at $0.003 (about $6.13m, director-underwritten) and its timetable. No new information.
19 May 2021capital raising announcement● Neutral
Offer booklet for the fully underwritten 1-for-1 entitlement offer at $0.003 to raise about $6.13m, underwritten by directors Morton, Sam Yue and Munns. Opens 27 May, closes 1 July 2021. Repeats the 19 May launch terms.
19 May 2021capital raising announcement● Neutral
Letter telling shareholders with addresses outside Australia and New Zealand they cannot take part in the $0.003 entitlement offer. Their shares go to the directors' shortfall. Administrative.
19 May 2021capital raising announcement● NeutralMajor
The company relaunched a fully underwritten 1-for-1 entitlement offer at $0.003 to raise about $6.13m. Directors Morton, Sam Yue and Munns underwrite $1.81m, $2.07m and $2.25m, and proceeds repay their loans, cutting company liabilities. Closes 1 July 2021.
12 May 2021capital raising announcement● Neutral
The $0.0034 entitlement offer was withdrawn because ASX rules bar prices in fractions smaller than a tenth of a cent. It will be replaced with a 1-for-1 offer at $0.003, lowering the amount raised and the underwriting.
12 May 2021capital raising announcement● Neutral
Offer booklet for the 1-for-1 entitlement offer at $0.0034 to raise about $6.95m, partly underwritten by directors up to $5.5m. It was superseded when the offer was withdrawn the same day.
12 May 2021capital raising announcement● Neutral
Letter telling shareholders outside Australia and New Zealand they cannot take part in the $0.0034 entitlement offer. Their shares go to the directors' shortfall. Administrative, and overtaken by the withdrawal.
12 May 2021capital raising announcement● Neutral
The company launched a 1-for-1 entitlement offer at $0.0034 to raise about $6.95m, partly underwritten by the three directors up to $5.5m. Proceeds go to working capital, new ventures and repaying the directors' loans. Withdrawn the same day.
31 July 2019capital raising announcement▼ BadMajor
Entitlement offer closed with applications for only 112.8m of 572.2m shares (about $338.5k of $1.717m). The 459.4m-share shortfall ($1.378m) is to be placed with investors within 3 months. Funding for the well remains dependent on that placement.
25 June 2019capital raising announcement▼ Bad
Entitlement offer closing extended again, to 26 July 2019, because of uncertainty over SC 44 after the DOE refused to defer drilling. The company wants investors to commit only after agreement with the DOE on drilling timing.
10 May 2019capital raising announcement▼ BadMajor
Entitlement offer closing pushed from 27 May to 28 June 2019 as drilling is deferred to July because of Philippine elections. The company discloses SC 44 depends on finishing the well by July 2019, and the DOE could terminate it if it refuses more time.
7 May 2019capital raising announcement● Neutral
Offer document and application forms were dispatched; the entitlement offer opens today and is scheduled to close 27 May 2019. Administrative only.
30 Apr 2019capital raising announcement● Neutral
Letter telling shareholders outside Australia and New Zealand they cannot take part in the entitlement offer; their shares go to the shortfall. Administrative, no new information.
30 Apr 2019capital raising announcement● Neutral
Letter to eligible shareholders summarising the 1-for-2 entitlement offer at $0.003. Entitlements cannot be traded. Administrative, repeats the earlier announcement.
29 Apr 2019capital raising announcement● NeutralMajor
Launches a 1-for-2 non-renounceable entitlement offer at $0.003 per share to raise about $1.717m, a 25% discount to the last sale price. Not underwritten. Funds go to deepening Nuevo Malolos-1, meeting the SC 44 commitment; this is the equity raising flagged earlier.
29 Apr 2019capital raising announcement● Neutral
Cleansing notice for the entitlement offer of about 572.2m shares at $0.003 to raise about $1.717m. Shows voting-power scenarios for the four substantial holders, including Morton at 15.75% currently. Compliance paperwork with no new substance.
What it means for a shareholder
572m new shares at A$0.003 to raise about A$1.7m. That's 26% dilution: every existing holder's slice gets 26% smaller. If you held A$1,000 of shares (333,333 at the issue price), your slice goes from 0.0204% to 0.0151% of the company. To keep it you'd need 116,509 more shares - about A$350 at the issue price.
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29 Apr 2019capital raising announcement● Neutral
Offer document for the 1-for-2 entitlement offer at $0.003, raising up to about $1.717m, opening 7 May and closing 27 May 2019. It describes the shares as speculative. Details repeat the earlier announcement.
6 Mar 2018capital raising announcement● NeutralMajor
The company placed a further 100 million shares at $0.0025 to raise $250,000 for working capital, at the same price as the SPP. It was made under shareholder approval from the 9 February 2018 meeting.
What it means for a shareholder
100m new shares at A$0.0025 to raise about A$250,000. That's 9.4% dilution: every existing holder's slice gets 9.4% smaller. If you held A$1,000 of shares (400,000 at the issue price), your slice goes from 0.0415% to 0.0376% of the company. To keep it you'd need 41,457 more shares - about A$104 at the issue price.
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2 Mar 2018capital raising announcement▲ GoodMajor
The SPP closed early, fully subscribed at $0.0025 per share, raising the $250,000 target without scale back. All three directors applied for their maximum $15,000 each.
12 Feb 2018capital raising announcement● NeutralMajor
The company announced a Share Purchase Plan of up to 100 million shares at $0.0025 to raise up to $250,000, a 16.6% discount to the five-day VWAP. Funds are for new ventures and working capital. This is the first equity raising since 2013.
What it means for a shareholder
100m new shares at A$0.0025 to raise about A$250,000. That's 10% dilution: every existing holder's slice gets 10% smaller. If you held A$1,000 of shares (400,000 at the issue price), your slice goes from 0.0463% to 0.0415% of the company. To keep it you'd need 46,250 more shares - about A$116 at the issue price.
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12 Feb 2018capital raising announcement● Neutral
SPP offer document: $0.0025 per share, minimum $2,500, maximum $15,000, raising up to $250,000 (100 million shares), closing 5 March 2018. Repeats the announced terms; not underwritten.
What it means for a shareholder
100m new shares at about A$0.0025 to raise about A$250,000. That's 10% dilution: every existing holder's slice gets 10% smaller. If you held A$1,000 of shares (400,000 at the issue price), your slice goes from 0.0463% to 0.0415% of the company. To keep it you'd need 46,250 more shares - about A$116 at the issue price.
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12 Feb 2018capital raising announcement● Neutral
Cover letter sending shareholders the SPP offer at $0.0025 per share, with up to $15,000 each. It repeats the terms already announced; no new information.
14 May 2014capital raising announcement● Neutral
Rights issue closing date extended again, from 23 May to 13 June 2014, with issue now 20 June. Terms are unchanged: 1-for-4 at 3 cents, about $5.1m. This is the second extension and the text gives no reason.
24 Apr 2014capital raising announcement● Neutral
Rights issue closing date extended from 5 May to 23 May 2014, with issue of shares and options now expected 30 May. Terms unchanged: 3 cents per share, about $5.1m. The text gives no reason for the delay.
2 Apr 2014capital raising announcement● NeutralMajor
Launches a 1-for-4 non-renounceable rights issue at 3 cents to raise about $5.1m, with a free $0.04 option (expiring 15 September 2015) per share. Not underwritten. Funds go to Philippines appraisal, French exploration and working capital. Shares would reach about 927m.
2 Apr 2014capital raising announcement● Neutral
Prospectus for the 1-for-4 rights issue at 3 cents (about $5.1m), with a free option per share. The supplied text covers only the front sections and key dates; it repeats the terms announced the same day.
11 Sept 2013capital raising announcement● NeutralMajor
Placement raised $1,625,460 from 73.88m shares at 2.2 cents, a 20.8% discount to the 15-day average. That is below the 3 cent plan price. Funds go to Malolos-1 flow testing, St Griede and working capital. Company says it is talking to potential farm-in partners.
What it means for a shareholder
73.9m new shares at A$0.022 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 (45,455 at the issue price), your slice goes from 0.00774% to 0.00687% of the company. To keep it you'd need 5,718 more shares - about A$126 at the issue price.
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28 June 2013capital raising announcement▲ GoodMajor
The Share Purchase Plan and shortfall raised $1,203,600 from 40.12 million shares at 3 cents. A shortfall of 59.88 million shares ($1.8m) is to be placed in coming weeks. Funds go mainly to the Malolos-1 workover.
What it means for a shareholder
40.1m new shares at A$0.030 to raise about A$1.2m. That's 6.4% dilution: every existing holder's slice gets 6.4% smaller. If you held A$1,000 of shares (33,333 at the issue price), your slice goes from 0.00568% to 0.00531% of the company. To keep it you'd need 2,277 more shares - about A$68 at the issue price.
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6 June 2013capital raising announcement● Neutral
The Share Purchase Plan closing date was extended from 7 June to 24 June 2013, with new shares now expected to be issued 28 June. All other terms are unchanged.
