Past year: ▲ 137%(11.0c – 36.0c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
25 June 2021capital raising announcement● NeutralMajor
Warrego raised $50m via a two-tranche placement at $0.22 per share, a 10.2% discount to the last close. It funds long lead items for the 87 TJ/d plant and gathering system, and the unbudgeted WE-3 re-entry. Tranche Two ($17.6m) needs shareholder approval.
26 Nov 2020capital raising announcement● Neutral
Tranche 2 of the placement will settle on 30 November, with shares quoted 1 December. A separate issue of 1,000 securities under an August cleansing prospectus will not proceed. Administrative update to the October raising.
6 Nov 2020capital raising announcement● Neutral
The share purchase plan closed having raised $780,000 at 21c, with all applications filled in full and no scale-back. Shares are to be issued 11 November. This is far below the $4m cap, completing the October $32m placement.
22 Oct 2020capital raising announcement● Neutral
Application form for the share purchase plan, with parcels from $2,500 to $30,000 payable by BPAY or cheque, closing 5 November 2020. Administrative document with no new information.
22 Oct 2020capital raising announcement● Neutral
Share purchase plan booklet for eligible Australian and New Zealand holders: apply for parcels of $2,500 to $30,000 at 21c, the same as the placement. Offer opens 22 October, closes 5 November, with possible scale-back. This implements the plan announced 14 October.
14 Oct 2020capital raising announcement● NeutralMajor
Warrego raises $32.0m in a two-tranche placement at 21c, a 14.3% discount to the last close, to fund WE-4 and WE-5, 3D seismic and working capital. Tranche 2 ($6.0m) needs approval at the 25 November meeting. A share purchase plan capped at $4m is also offered at 21c.
25 May 2020capital raising announcement● NeutralMajor
Warrego raised $15m in a two-tranche placement at 13c, an 18.8% discount to the last close. Tranche one is 94.9m shares ($12.3m) and tranche two is 20.5m shares ($2.7m), which needs shareholder approval. The money funds WE-3 drilling and long-lead items for WE-4.
16 Sept 2019capital raising announcement▲ GoodMajor
Warrego completes a $12m institutional placement at 29c per share (41.4m shares), a 4.9% discount to the last close. Funds go to EP469 appraisal, Spain, EPA-0127 and working capital. Follows the Aug cash query that flagged the need to raise capital.
4 July 2019capital raising announcement▲ GoodMajor
The raising is complete at $6.61m in total: the $6.1m placement plus $510,000 from the share purchase plan, all at 9.5c. The SPP raised about half of the $1m targeted. Funds go to West Erregulla-2 and next steps.
19 June 2019capital raising announcement● Neutral
Warrego extended the share purchase plan closing date to 28 June 2019, with shares issued 4 July. The stated reason is giving eligible shareholders more time to take up the offer.
3 June 2019capital raising announcement● Neutral
Letter and terms for the $1m share purchase plan at 9.5c, a 24.6% discount to the five-day average. Parcels run $2,000 to $15,000; closes 21 June. Cites a 916 BCF gross prospective resource for West Erregulla-2 (Strike's estimate) and says drilling has begun.
31 May 2019capital raising announcement● NeutralMajor
Warrego completed a $6.1m placement at 9.5c per share (64.2m shares), a 24% discount to the last trade, plus a share purchase plan targeting $1m. This answers the ASX cash query. Chairman Columbus took $300,000, subject to shareholder approval.
1 Mar 2019capital raising announcement▲ GoodMajor
Warrego completed a convertible note issue raising $5.05m, $1.2m above the amount in the meeting notice. Notes convert into Petrel shares if the takeover completes, at market-based prices or the AIM listing price, with maturity 31 December 2019. Funds the lead-up to West Erregulla-2.
13 Aug 2018capital raising announcement● NeutralMajor
The placement and share purchase plan finished, raising $1,061,000 at 0.21c ($735k placement, $326k from the plan, which was below the $1m sought). Management salaries are halved for the current quarter, with no guarantee beyond it.
4 July 2018capital raising announcement● Neutral
Chairman's letter and terms for the share purchase plan: up to $1m at 0.21c, parcels from $2,000 to $15,000, open 13 July to 7 August 2018, shares issued 13 August. Administrative detail of the 4 July raising.
4 July 2018capital raising announcement● NeutralMajor
Petrel placed 350m shares at 0.21c to raise $735,000 (134m need approval at an early-August meeting) and launched a share purchase plan of up to $1m at the same price. Funds are for working capital and restructuring; management pay for Jan-June is share-based, subject to approval.
17 Apr 2018capital raising announcement▼ BadMajor
The rights issue raised only $247,451 (61.9m shares) of the up to $4.5m sought, leaving a 1.06bn-share shortfall. Petrel says it will now take a non-funding position in Uruguay or sell project assets to cover unpaid liabilities. This is the less-than-half scenario outlined on 1 March.
27 Mar 2018capital raising announcement● Neutral
The rights issue closing date was extended nine days to 12 April 2018, with shares to be issued on 19 April, to give shareholders more time to take part. Timetable change only.
1 Mar 2018capital raising announcement● Neutral
Standard notice letters to overseas shareholders (not offered the rights issue) and option holders (no entitlement unless they exercise before the record date). The offer is 1,123,956,473 new shares to raise about $4.5m. Administrative only.
1 Mar 2018capital raising announcement▼ BadMajor
Petrel launched a rights issue of up to A$4.5m at 0.4c (2 new shares for every 3 held) to fund restarting Cerro de Chaga-1 ($2.9m) and pay $1.1m of creditors. Under half subscribed, it says it may sell assets to cover unpaid liabilities. Drillers took a 2% royalty for $1.66m of invoices.
1 Mar 2018capital raising announcement● Neutral
Formal offer document for the rights issue announced the same day: 2 new shares for every 3 held at 0.4c to raise up to $4.5m, open 1 March to 3 April 2018. Adds no new terms beyond the announcement; it flags the shares as speculative.
7 Nov 2017capital raising announcement● Neutral
Administrative filing for the issue on 7 November 2017 of 415.3m shares at 1.1c, each with a free 4c option expiring 31 October 2018, completing the entitlement offer to fund Uruguay drilling.
1 Nov 2017capital raising announcement▲ GoodMajor
Entitlement offer closed fully subscribed, raising $4.57m at 1.1c; shareholders took 76% of the shares and shortfall applicants took the other 24%. Underwriter took none. Together with the $880,000 placement, this funds the Uruguay programme. Refunds of $3.49m were due.
19 Oct 2017capital raising announcement● Neutral
Entitlement offer closing date pushed back one week to 31 October 2017, with shares and options now to be issued 7 November. Company says the extra time is for shareholders to consider the offer.
28 Sept 2017capital raising announcement● Neutral
Letters to shareholders and option holders on the entitlement offer: 415,324,258 new shares at 1.1c, record date 6 October. Overseas holders are ineligible. Administrative; no new terms.
28 Sept 2017capital raising announcement● NeutralMajor
Petrel raises $3.5m to $5.45m at 1.1c: an $880,000 placement of 80m shares is done, plus a 1-for-3 entitlement offer of up to $4.57m, underwritten to $2.61m, with free 4c options. Management says the Uruguay programme is behind schedule and over budget.
28 Sept 2017capital raising announcement● Neutral
Prospectus for the 1-for-3 entitlement offer at 1.1c, raising up to $4.57m, partially underwritten by Patersons. Each new share carries a free 4c option expiring 31 October 2018. Offer opens 10 October and closes 24 October. Repeats the terms announced the same day.
3 May 2017capital raising announcement▲ GoodMajor
Petrel placed 73.5m new shares at 3.4c to raise $2.5m, over 30% oversubscribed. The money is a contingency for the Uruguay wells (deepening, testing, overruns), plus working capital and keeping pace with partner funding to avoid dilution.
1 Dec 2016capital raising announcement▲ GoodMajor
Final shortfall tranche of $1.38m placed, completing the rights issue at about $5.25m of the $5.3m maximum; only $54,237 (about 1%) went unsubscribed. The extra funds give room for expanded testing or more drilling.
24 Oct 2016capital raising announcement▲ Good
Second shortfall tranche placed, raising $420,000. Total shortfall placed is $866,323, leaving $1,434,237 available before 30 November 2016.
