New Risk • May 15
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 21% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Revenue is less than US$1m. Market cap is less than US$10m (AU$12.7m market cap, or US$9.19m). Minor Risks Share price has been volatile over the past 3 months (14% average weekly change). Shareholders have been diluted in the past year (21% increase in shares outstanding). New Risk • May 11
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Australian stocks, typically moving 13% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Revenue is less than US$1m. Market cap is less than US$10m (AU$11.8m market cap, or US$8.55m). Minor Risk Share price has been volatile over the past 3 months (13% average weekly change). Annuncio • May 05
Condor Energy Limited has completed a Follow-on Equity Offering in the amount of AUD 2.25 million. Condor Energy Limited has completed a Follow-on Equity Offering in the amount of AUD 2.25 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 132,352,941
Price\Range: AUD 0.017
Discount Per Security: AUD 0.00102
Security Features: Attached Options
Transaction Features: Subsequent Direct Listing New Risk • Mar 31
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: AU$14.3m (US$9.82m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Revenue is less than US$1m. Market cap is less than US$10m (AU$14.3m market cap, or US$9.82m). New Risk • Mar 11
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -AU$1.8m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$1.8m free cash flow). Revenue is less than US$1m (AU$21k revenue, or US$15k). Minor Risk Market cap is less than US$100m (AU$16.5m market cap, or US$11.7m). New Risk • Nov 03
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: AU$15.1m (US$9.86m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 3.3% per year over the past 5 years. Revenue is less than US$1m. Market cap is less than US$10m (AU$15.1m market cap, or US$9.86m). Minor Risk Shareholders have been diluted in the past year (22% increase in shares outstanding). Annuncio • Oct 01
Condor Energy Limited, Annual General Meeting, Nov 25, 2025 Condor Energy Limited, Annual General Meeting, Nov 25, 2025. New Risk • Sep 20
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -AU$2.1m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$2.1m free cash flow). Earnings have declined by 3.3% per year over the past 5 years. Revenue is less than US$1m (AU$73k revenue, or US$48k). Minor Risks Shareholders have been diluted in the past year (23% increase in shares outstanding). Market cap is less than US$100m (AU$16.5m market cap, or US$10.9m). New Risk • Sep 16
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended December 2024. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 16% per year over the past 5 years. Revenue is less than US$1m. Minor Risks Latest financial reports are more than 6 months old (reported December 2024 fiscal period end). Shareholders have been diluted in the past year (23% increase in shares outstanding). Market cap is less than US$100m (AU$17.9m market cap, or US$11.9m). New Risk • Jul 31
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: AU$15.4m (US$9.99m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 16% per year over the past 5 years. Revenue is less than US$1m. Market cap is less than US$10m (AU$15.4m market cap, or US$9.99m). Minor Risk Shareholders have been diluted in the past year (21% increase in shares outstanding). New Risk • May 27
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: AU$15.4m (US$9.99m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 16% per year over the past 5 years. Revenue is less than US$1m. Market cap is less than US$10m (AU$15.4m market cap, or US$9.99m). Minor Risks Share price has been volatile over the past 3 months (16% average weekly change). Shareholders have been diluted in the past year (21% increase in shares outstanding). New Risk • Apr 04
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 26% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (20% average weekly change). Earnings have declined by 16% per year over the past 5 years. Revenue is less than US$1m. Market cap is less than US$10m (AU$15.4m market cap, or US$9.75m). Minor Risk Shareholders have been diluted in the past year (26% increase in shares outstanding). Annuncio • Jan 23
Condor Energy Limited has completed a Follow-on Equity Offering in the amount of AUD 3 million. Condor Energy Limited has completed a Follow-on Equity Offering in the amount of AUD 3 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 115,384,616
Price\Range: AUD 0.026
Discount Per Security: AUD 0.00156
Transaction Features: Subsequent Direct Listing New Risk • Jan 16
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Australian stocks, typically moving 15% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$2.6m free cash flow). Earnings have declined by 30% per year over the past 5 years. Revenue is less than US$1m. Market cap is less than US$10m (AU$11.1m market cap, or US$6.91m). Minor Risks Share price has been volatile over the past 3 months (15% average weekly change). Shareholders have been diluted in the past year (26% increase in shares outstanding). New Risk • Nov 22
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: AU$15.1m (US$9.83m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$2.6m free cash flow). Earnings have declined by 30% per year over the past 5 years. Revenue is less than US$1m. Market cap is less than US$10m (AU$15.1m market cap, or US$9.83m). Minor Risk Shareholders have been diluted in the past year (24% increase in shares outstanding). Annuncio • Oct 18
Condor Energy Limited, Annual General Meeting, Nov 25, 2024 Condor Energy Limited, Annual General Meeting, Nov 25, 2024. Location: at level 1, 10 outram street, west perth wa 6005, Australia New Risk • Sep 28
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended December 2023. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 39% per year over the past 5 years. Revenue is less than US$1m. Minor Risks Latest financial reports are more than 6 months old (reported December 2023 fiscal period end). Share price has been volatile over the past 3 months (17% average weekly change). Shareholders have been diluted in the past year (24% increase in shares outstanding). Market cap is less than US$100m (AU$20.2m market cap, or US$14.0m). New Risk • Sep 25
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Australian stocks, typically moving 17% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (17% average weekly change). Earnings have declined by 39% per year over the past 5 years. Revenue is less than US$1m. Minor Risks Shareholders have been diluted in the past year (24% increase in shares outstanding). Market cap is less than US$100m (AU$19.7m market cap, or US$13.5m). New Risk • Aug 09
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Australian stocks, typically moving 16% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (16% average weekly change). Earnings have declined by 39% per year over the past 5 years. Revenue is less than US$1m. Minor Risks Shareholders have been diluted in the past year (35% increase in shares outstanding). Market cap is less than US$100m (AU$18.5m market cap, or US$12.2m). New Risk • Apr 04
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Australian stocks, typically moving 17% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (17% average weekly change). Earnings have declined by 39% per year over the past 5 years. Shareholders have been substantially diluted in the past year (63% increase in shares outstanding). Revenue is less than US$1m. Minor Risk Market cap is less than US$100m (AU$30.1m market cap, or US$19.7m). New Risk • Mar 07
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 63% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 41% per year over the past 5 years. Shareholders have been substantially diluted in the past year (63% increase in shares outstanding). Revenue is less than US$1m. Market cap is less than US$10m (AU$11.7m market cap, or US$7.68m). Minor Risk Share price has been volatile over the past 3 months (14% average weekly change). Annuncio • Mar 01
Global Oil & Gas Limited has filed a Follow-on Equity Offering in the amount of AUD 1.365 million. Global Oil & Gas Limited has filed a Follow-on Equity Offering in the amount of AUD 1.365 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 91,000,000
Price\Range: AUD 0.015
Discount Per Security: AUD 0.0009
Transaction Features: Subsequent Direct Listing Annuncio • Dec 22
Global Oil & Gas Limited Announces Board Changes, Effective 31 December 2023 Global Oil & Gas Limited announced the appointment of Mr. Ricardo Garzon Rangel to the board of the Company, replacing Mr. Troy Hayden, effective from the 31st of December 2023. Mr. Garzon Rangel will hold the role of Non-Executive Director. Mr. Garzon Rangel is an industrial engineer and energy economist with over 15 years international experience in sourcing, managing and promoting oil and gas and mineral exploration projects. He was a significant team-member in Baraka Petroleum's acquisition of a 260,000km2 tract of the Taoudeni Basin in West Africa and participation in a producing oil field and two brownfield oil exploration projects in Colombia. After serving as a member of the board of Baraka during 2009, Ricardo identified and progressed several exploration opportunities in South America and more recently in Australia. As a dual Australian and Colombian citizen, Mr. Garzon Rangel has a depth of experience in Latin America and has a proven ability to expand business operations into new regions and establish relationships with governments and other industry participants. Mr. Garzon Rangel completed his bachelor degree of Industrial Engineering at Universidad Distrital Francisco Jose de Caldas in Bogotá Colombia and his MSc in Energy Economics and Management from Curtin University. Ricardo is a member of the Society of Petroleum Engineers (SPE). Annuncio • Dec 04
Global Oil & Gas Limited Announces Board Changes Global Oil and Gas Limited welcomed Mr. Scott Macmillan and Mr. Matt Ireland who were on 4 December 2023 appointed to the Company's Board in the roles of Non-Executive Director and Non-Executive Chairman respectively. Mr. Macmillan and Mr. Ireland will replace Mr. Chris Zielinski and Mr. Patric Glovac who have resigned from the Board. The Company also announced the appointment of Mr. Lloyd Flint who replaces Mrs. Anna MacKintosh as Company Secretary. About Scott Macmillan: Mr. Macmillan is the Managing Director and founder of Invictus Energy Limited which, since listing on the ASX in 2018, has seen Invictus grow substantially in value from a microcap frontier explorer to an emerging oil and gas developer. Invictus Energy is an oil and gas Company opening one of the last untested large frontier rift basins in onshore Africa. Mr. Macmillan is a Reservoir Engineer with more than 15 years' experience in oil and gas exploration, field development planning, reserves and resources assessment, reservoir simulation, commercial valuations and business development. Prior to founding Invictus, Scott worked as a Senior Reservoir Engineer at Woodside Energy and AWE, during which time he participated in large offshore oil and gas field operations and the development of the Waitsia Gas Field. As part of his career Scott also served as an advisor to Woodside Energy's Global New Ventures team with a focus on Africa. Scott has a Bachelor degree of Chemical Engineering and an MSc in Petroleum Engineering from Curtin University and is a member of the Society of Petroleum Engineers (SPE). About Matt Ireland: Mr. Ireland, a Partner at Steinepreis Paganin, is a highly experienced corporate and commercial lawyer with extensive experience in corporate governance and compliance matters as well as in mining and oil & gas transactions including joint venture agreements, M&A transactions, capital raisings and asset acquisitions/disposals. Matt graduated from Murdoch University with a Bachelor of Laws and a Bachelor of Commerce in 2002 and was admitted to the Supreme Court of New South Wales in 2003 and the Supreme Court of Western Australia in 2004. Annuncio • Oct 05
Global Oil & Gas Limited, Annual General Meeting, Nov 23, 2023 Global Oil & Gas Limited, Annual General Meeting, Nov 23, 2023. Agenda: To consider and approve the re-election and appointment of directors. New Risk • Sep 26
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended December 2022. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$1.2m free cash flow). Earnings have declined by 44% per year over the past 5 years. Shareholders have been substantially diluted in the past year (127% increase in shares outstanding). Revenue is less than US$1m. Market cap is less than US$10m (AU$6.54m market cap, or US$4.20m). Minor Risks Latest financial reports are more than 6 months old (reported December 2022 fiscal period end). Share price has been volatile over the past 3 months (14% average weekly change). New Risk • Sep 11
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended December 2022. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$1.2m free cash flow). Earnings have declined by 44% per year over the past 5 years. Shareholders have been substantially diluted in the past year (127% increase in shares outstanding). Revenue is less than US$1m. Market cap is less than US$10m (AU$6.07m market cap, or US$3.87m). Minor Risks Latest financial reports are more than 6 months old (reported December 2022 fiscal period end). Share price has been volatile over the past 3 months (14% average weekly change). Board Change • Jun 24
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. No highly experienced directors. Independent Non-Executive Director Troy Hayden was the last director to join the board, commencing their role in 2020. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Annuncio • Jun 17
Global Oil & Gas Limited Announces Resignation of Richard Barker as Non-Executive Director Global Oil & Gas Limited announced that Mr. Richard Barker has resigned as a Non-Executive Director with immediate effect. Annuncio • May 24
Global Oil & Gas Limited (ASX:GLV) signed an Letter of intent to acquire offshore exploration block in Peruvian waters from Jaguar Exploration, Inc. Global Oil & Gas Limited (ASX:GLV) signed an Letter of intent to acquire offshore exploration block in Peruvian waters from Jaguar Exploration, Inc. on May 24, 2023.The consideration consist of $0.225 million in cash and 25.371695 million shares. Annuncio • Jan 26
Global Oil & Gas Limited, Annual General Meeting, Feb 24, 2023 Global Oil & Gas Limited, Annual General Meeting, Feb 24, 2023, at 11:00 W. Australia Standard Time. Location: the office of 22 Townshend Road, Subiaco, Western Australia, 6008 Subiaco Western Australia Australia Agenda: To consider ratification of prior issue of placement shares; to approve to issue broker options cps; to approve to issue placement options; to consider consolidation of capital; and to consider other matters if any. Annuncio • Sep 27
Global Oil & Gas Limited, Annual General Meeting, Nov 29, 2022 Global Oil & Gas Limited, Annual General Meeting, Nov 29, 2022. Agenda: To consider re-election and appointment of directors. Annuncio • Jul 29
Global Oil & Gas Limited Updates Shareholders on the Work Programme Continuing over its 100% Owned Exploration Permit 127 in the Northern Territory Global Oil & Gas Limited update shareholders on the work programme continuing over its 100% owned Exploration Permit 127 in the Northern Territory, along with a Company update on complimentary energy opportunities. New Project Opportunities: Consistent with its ongoing strategy of continually reviewing new opportunities across the hydrogen, helium and conventional oil and gas sector, the Company has been undertaking advanced due diligence on several complimentary projects. The Company believes diversifying into the clean technology sector is an economic, social and environmental obligation for all conventional oil and gas companies, which over recent years has brought world-class research and innovation into the sector. Like many up and coming industries, first mover advantage is always critical. The Company will update shareholders once due diligence is complete and negotiations progress to an advanced stage. EP127 Work Programme: In November 2021 GLV undertook a Helium and Hydrogen soil sampling survey across the license. A remote spectroscopy study was completed in June 2021, this data was reviewed and has been used to plan the next phase of field activities which include: Increase of the field gas sampling density, and refinement of the sampling methodology, Investigation of water bore gasses. Further desktop studies, including: Seismic interpretation, Geological appraisal to refine play concept, Definition of energy needs in the area, including mining and community, Definition of cultural areas of significance in the area, Consulting relevant stakeholders in the field area. The above planned activities will be used to define a clear area for further exploration activities. Soil Gas Sampling The aim of further soil gas sampling would be to prove the migration pathway from the relatively shallow basement via faults. Data collected in the previous campaign has been used to plan sampling grids. The grid will likely consist of a sample points every over an area near the MacIntyre-1 and -2 well head locations. A courser grid would be used around the well locations. Sampling Water Wells The company is currently assessing an additional method of non-invasive helium exploration by testing the regional water wells for helium concentration. This option requires further investigation to determine whether the option is viable option on existing wells or whether drilling new water wells would be required. Drilling water wells has been proved as successful by Blue Star Helium in Colorado. Annuncio • Jun 14
Global Oil & Gas Limited Provides Update and Review of the Sasanof-1 Well Campaign, Conducted Approximately 207 Km Northwest of Onslow, Western Australia Global Oil & Gas Limited provides the following update and review of the Sasanof-1 well campaign, conducted approximately 207 km northwest of Onslow, Western Australia. WA-519-P PROSPECTIVITY: WA-519-P remains highly prospective with material leads identified in the proven Lower Barrow Group and Triassic Mungaroo plays and play opening leads in the Jurassic "Perseus" Syn-rift. The Company and its joint venture participants will continue to review and progress these leads to prospects, including an assessment of data from the Sasanof-1 well, to support future exploration and targeted farmout discussions. Annuncio • Jun 07
Global Oil & Gas Limited Announces Sasanof - 1 Well Result Global Oil & Gas Limited announced that Western Gas has provided an operational update on the drilling of the Sasanof-1 exploration well. Highlights: The Sasanof-1 exploration well has been drilled to a total depth of 2390; m RMDT by the Valaris MS-1 rig without incident; No commercial hydrocarbons were intersected; As planned, the well will now be plugged and permanently abandoned; De-mobilization activities will then commence. Annuncio • Jun 04
Global Oil & Gas Limited Announces Western Gas Provides an Operational Update on the Drilling of the Sasanof-1 Exploration Well Global Oil & Gas Limited announced that Western Gas ("WGC") has provided an operational update on the drilling of the Sasanof-1 exploration well. The marine riser and well control Blow Out Preventer (BOP) have been installed, connecting the Valaris MS-1 rig to the Sasanof-1 High Pressure Wellhead Housing (HPWHH) and the system is currently being pressure and function tested Once complete the 12-1/4" bottomhole drilling assembly (BHA) will be run in hole to drill out of the 13-3/8" shoe track cement and integrity tests will then be conducted This will be followed by drilling of the 12-1/4" target hole section from the current depth of 2,072m to an estimated total depth of 2,500m TVDBRT The Company anticipates drilling through the target reservoir sand section will occur over the weekend. The Sasanof Prospect covers an area of up to 400 km2 and is on trend and updip of Western Gas' liquids rich, low C02 Mentorc Field. Sasanof is a large, seismic amplitude supported, structural-stratigraphic trap in the high-quality reservoir sands at the top of the Cretaceous top Lower Barrow Group formation on the Barrow Delta within the Exmouth Plateau. Sasanof-1 will be Western Gas' first well drilled from its extensive exploration portfolio surrounding the existing Equus Gas Project that contains a discovered resource of 2 Tcf and 42 MMbbl (2C Gaffney Cline2). The Equus Gas Project has a historic exploration drilling success rate of 88%, with 15 discoveries from 17 wells. Annuncio • May 31
Global Oil & Gas Limited Announces That Western Gas Has Provided an Operational Update on the Drilling of the Sasanof-1 Exploration Well Global Oil & Gas Limited announced that Western Gas ("WGC") has provided an operational update on the drilling of the Sasanof-1 exploration well. Over the weekend the 17-1/2" hole section was drilled to planned depth at 2072.7mTVDBRT. The geology of the intermediate section was assessed via the Logging While Drilling tools and all formation tops were in accordance with pre-drill predictions. This illustrates the excellent quality seismic data anddemonstrates consistency with the near-by Mentorc-1 and Mentorc-2 discoveries. 13-3/8" casing was run and cemented in accordance with the Well Operations Management Plan. The next stage of operations has commenced with the rig Blow Out Preventer (BOP) and marine riser being prepared for deployment. This will be followed by drilling operations in the 12-1/4" target hole section through the target reservoir intervals. Annuncio • May 29
Global Oil & Gas Limited Provides an Operational Update on the Drilling of the Sasanof-1 Exploration Well Global Oil & Gas Limited announced that Western Gas ("WGC") has provided an operational update on the drilling of the Sasanof-1 exploration well. Drilling of Sasanof-1 exploration well has now commenced The well was spudded with the jetting of the 36" conductor at a water depth 1068.3m (below mean sea level "BMSL"). Drilling is now underway on the 17-1/2" intermediate hole section to a depth of 2030m (BMSL), 13-3/8" casing will then be run and cemented. This will be followed by the drilling the 12-1/4" hole section through the target reservoir section to a total depth of 2500m (BMSL). The Company anticipates drilling through the target reservoir section will occur between 2 and 5 June 2022. Annuncio • May 23
Global Oil & Gas Limited Announces Valaris MS-1 Rig Arrives at Sasanof-1 Location Global Oil & Gas Limited announced that Western Gas has provided an operational update on the drilling of the Sasanof-1 exploration well. Valaris MS-1 rig has arrived at the Sasanof-1 exploration well location on the North West Shelf. The MS-1 semi-submersible drilling rig completed the 190 NM mobilization safely and efficiently under tow from the support vessel, GO Spica. While under tow the support vessel, Far Senator, continued logistical support operations, mobilising drilling mud, bulks and supplies from the Port of Dampier. Primary anchors are now being run and will be followed by deployment of the secondary and tertiary anchors, a total of 12 anchors will be set. Once anchoring is complete, spudding of the multi Tcf Sasanof-1 well will commence with jetting of the 36" conductor. This will be followed by drilling the 17-1/2" intermediate hole section. Sasanof-1 will be Western Gas' first well drilled from its extensive exploration portfolio surrounding the existing Equus Gas Project that contains a discovered resource of 2 Tcf and 42 MMbbl (2C Gaffney Cline2). The Equus Gas Project has a historic exploration drilling success rate of 88%, with 15 discoveries from 17 wells. Annuncio • May 18
Global Oil & Gas Limited Announces Western Gas Has Provided an Operational Update on the Drilling of the Sasanof-1 Exploration Well Global Oil & Gas Limited announced that Western Gas ("WGC") has provided an operational update on the drilling of the Sasanof-1 exploration well. The Sasanof Prospect covers an area of up to 400 km2 and is on trend and updip of Western Gas' liquids rich, low C02 Mentorc Field. ERCE estimates the Sasanof Prospect to contain a 2U Prospective Resource of 7.2 Tcf gas and 176 Million bbls condensate (P501), with a high case 3U Prospective Resource estimate of 17.8 Tcf gas and 449 Million bbls condensate (P10). Sasanof is a large, seismic amplitude supported, structural-stratigraphic trap in the high-quality reservoir sands at the top of the Cretaceous top Lower Barrow Group formation on the Barrow Delta within the Exmouth Plateau. Sasanof-1 will be Western Gas' first well drilled from its extensive exploration portfolio surrounding the existing Equus Gas Project that contains a discovered resource of 2 Tcf and 42 MMbbl (2C Gaffney Cline2). The Equus Gas Project has a historic exploration drilling success rate of 88%, with 15 discoveries from 17 wells. Annuncio • Feb 22
Global Oil & Gas Limited Announces Ep127 Soil Survey Identifies Strong Helium Values Global Oil & Gas Limited announced positive results from the near surface, heliumsoil gas sampling program ("soil suvery") at pre-determined sites located withinEP127. The results of this study show regions of helium detected at up to double background levels, these regions also correlate with the known geology of the region, with the existence of a potential source and migration pathways. These findings indicate an active helium system is present within the study area.The field work was conducted late 2021. The survey consisted of soil gas sampling being undertaken at forty-nine sample sites in EP127, this data was then cross- referenced and analysed in respect of the satellite spectroscopy and the subsurface geology data. A consistent background helium gas value was established from soil samples. Elevated values, up to twice background, were recorded in the north east of the study area. The field results concur with the sentinel-2 satellite spectroscopy, showing an elevated level of helium on the surface in the same part of the study area, Subsurface seismic mapping shows NW to SE trending faults, near the MacIntyre wells, within the sampling area that are potential migration paths for helium to the surface. These faults extend from the radiometric basement to the surface. The main objectives of the survey was to determine if helium was present in the field area and to field trial the sampling methodology, examine possible emissions from major faults and wells, and compare the spectroscopy results were all met.Fifty-one points were approved for sampling located on existing tracks throughout an area of approximately 300 square kilometres. Sample points were distributed in alinear arrangement at a spacing of up to approximately two kilometres. Point locations were chosen based on ease of access and the low probability that they would coincide with cultural heritage areas. As noted above, a consistent background was recorded in the range of 2.3 to 2.8 ppm. Elevated readings were recorded in the vicinity of several NW-SE faults near theMcIntyre wells. The presence of variability in the data indicate that helium gas is being generated in the subsurface. Repeatability of elevated points and consistency of background levels appears to validate the use of the Agilent PHD-4 test equipment which facilitates a low impact and cost-efficient method to further ground truth helium emission. Annuncio • Feb 03
Global Oil & Gas Limited Announces Sasanof-1 Milestone - Final Regulatory Approval for Drilling Global Oil & Gas Limited announced that Western Gas has now secured all necessary Government approvals required to drill the Sasanof-1 exploration well on the North West Shelf. This significant milestone follows formal advice from the National Offshore Petroleum Safety and Environmental Management Authority (NOPSEMA) that Western Gas' proposed Well Operations Management Plan (WOMP) had met government requirements considering health, safety and well integrity aspects. The WOMP is a regulator-approved document which describes the procedures and processes by which Western Gas will safely construct the well, conduct data acquisition and importantly maintaining the integrity of the well during these activities. The well is planned to be permanently plugged and abandoned on completion of drilling and data acquisition activities. Acceptance of the WOMP follows closely with acceptance of the Environment Plan, and the Safety Case Revision for use of the Valaris MS-1 semi-submersible drilling rig to drill the Sasanof-1 well, both of which were secured in December 2021. Annuncio • Dec 21
Global Oil & Gas Limited Announces Western Gas Receives Acceptance by Nopsema for the Sasanof-1 Exploration Drilling Environment Plan Global Oil & Gas Limited announced that Western Gas has received acceptance by NOPSEMA for the Sasanof-1 Exploration Drilling Environment Plan. The Safety Case Revision for the Sasanof-1 well and the Well Operations Management Plan were submitted to NOPSEMA in early December 2021 for assessment, with an expected outcome by early January 2022. The Sasanof-1 exploration well is in permit WA-519-P in Commonwealth waters about 207 km northwest of Onslow, Western Australia. Drilling is scheduled to commence in March/April 2022 following the rig relocating from nearby activities on the North West Shelf. The Sasanof Prospect is on trend and updip of the liquids rich, low CO2 Mentorc Gas and Condensate Field and nearby the Giant Gas Fields of Scarborough and Io-Jansz in the Carnarvon Basin. ERC Equipoise Ltd. (ERCE) has determined Sasanof has an estimated 2U Prospective Resource of 7.2 Tcf gas and 176 Million bbls condensate (P50), with a 32% Chance of Success. The high case 3U Prospective Resource estimate is for 17.8 Tcf gas and 449 Million bbls condensate (P10). Sasanof-1 will be a vertical well and drilled to a total depth of approximately 2500 m in 1070 m of water, providing a low cost, high impact exploration well in a known and proven hydrocarbon province. Drilling costs are estimated at USD 20 million - USD 25 million. Sasanof is a large, seismic amplitude supported, structural-stratigraphic trap in the high-quality reservoir sands at the top of the Cretaceous top Lower Barrow Group formation on the Barrow Delta within the Exmouth Plateau. Sasanof-1 will be Western Gas' first well drilled from its extensive exploration portfolio surrounding the existing Equus Gas Project that contains a discovered resource of 2 Tcf and 42 MMbbl (2C Gaffney Cline). The Equus Gas Project has a historic exploration drilling success rate of 88%, with 15 discoveries from 17 wells. Annuncio • Sep 07
Global Oil & Gas Limited announced that it expects to receive AUD 11 million in funding Global Oil & Gas Limited announced a private placement of 687,500,000 common shares issued at AUD 0.016 per share for gross proceeds of AUD 11,000,000 on September 7, 2021. The transaction will include participation from qualified sophisticated and professional investors who have given firm commitments. The shares will be issued in two tranches. In first tranche the company will issue 187,500,000 shares to be issued under LR 7.1 and LR 7.1A on or around September 10, 2021. In second tranche, the company will issue 500,000,000 shares subject to shareholder approval at a general meeting of shareholders scheduled to take place on or around October 28, 2021 and is expected to close on October 29, 201. The transaction will include participation from company’s directors including Patrick Glovac for up to AUD 100,000, Troy Hayden for up to AUD 100,000 and chairman, Chris Zielinski for AUD 25,000. Annuncio • Jun 25
Global Oil & Gas Limited Provides Update Regarding Its Remote Spectroscopy Study and Upcoming Helium and Hydrogen Exploration Program Global Oil & Gas Limited provides shareholders the following update regarding its remote spectroscopy study and upcoming helium and hydrogen exploration program over its 100% owned Exploration Permit 127 in the Northern Territory. GLV has received the multispectral remote spectroscopy study from remote sensing specialists Dirt Exploration. The study provides heat map data for Helium, Hydrogen, and Methane indicators across the licence area. Mt Kitty, a proximate known Helium source, was used to calibrate the spectroscopy data. The survey results display a correlation
between the indicators and known subsurface faults. Faults are common migration pathways for gasses from underlying traps to the surface. The results of the remote multispectral spectroscopy study will be combined with the in-field geochemistry sampling survey, in addition to existing 2D seismic data and surface geology to high grade target areas for a seismic acquisition program planned to be undertaken in late 2022. Annuncio • May 21
Global Oil & Gas Limited Announces Helium Exploration to Commence on EP127 Global Oil & Gas Limited provided shareholders the following update regarding its planned upcoming helium exploration program over its 100% owned Exploration Permit 127. GLV has recently appointed South African remote sensing specialists Dirt Exploration, led by Dr. Neil Pendock, to undertake a multi-spectrum remote spectroscopy study utilizing Visible, near-infrared and shortwave-infrared (VNIRSWIR) spectroscopy over the licence area to identify regions of elevated Helium concentrations over the EP 127 licence area. Remote spectroscopy methods and studies have previously been implemented to successfully identify both gas and mineral deposits in the US, South America, Africa and Australia. Utilising satellite imagery sourced from Sentinal 2A and 2B, the remote spectroscopy study will be used to both locate regions of elevated Helium and Hydrogen as well as assist in the identification of focal areas for survey locations for in-field gas sampling and chromatographic analysis. The Company is also finalising planning for its in-field survey to be undertaken in June 2021, importantly with Australian based consultants having been engaged to design and undertake the survey. Given the ongoing Covid travel restrictions globally, the previous offshore contractors selected were unable to undertake the planned in-field survey. Portable Selective Ion Pump Detection testing equipment will be used to measure concentrations of naturally occurring He (Helium). The results of this sampling survey, will then be interpreted in conjunction with the remote spectroscopy studies, existing 2D seismic data and surface geology to high grade target areas for a seismic acquisition program scheduled to be undertaken in the second half of 2022. The Company has previously reviewed the potential for the permit to contain the required elements to yield significant helium accumulations and is encouraged that the permit contains the key elements for the accumulation of helium. Most significantly the area covered by EP127 shares these elements with the Amadeus Basin immediately south where high levels of helium have been tested. The geologic elements map below shows the southern Georgina Basin and the adjacent Amadeus Basin separated by the Arunta Region. To date well penetrations and oil and gas shows in the southern Georgina Basin (EP127) have mostly been confined to the Cambrian Petroleum System. No analysis of natural gas for helium has been undertaken to determine if a Cambrian Helium System exists. Like the petroleum and helium system in the Amadeus basin, the Cambrian in the southern Georgina Basin contains evaporite and shale members with the capacity to seal helium accumulations. The southern Georgina Basin (EP127) has a mostly untested Neoproterozoic section, equivalent to the Neoproterozoic petroleum and helium systems seen in the Amadeus Basin. In the Amadeus basin helium rich gas (He~6%) was discovered in the Heavitree quartzite which overlies fractured Proterozoic basement. The Gillen evaporites and shales that overly the Heavitree quartzite provide the top-seal. The concentrations seen in the Amadeus Basin are some of the highest concentrations of naturally occurring helium identified in the world to date. The uniquely high concentration of helium in some wells in the Amadeus Basin suggests that helium extraction independent of natural gas extraction may be feasible (Waltenberg, 2015). Similar units are proposed in the southern Georgina basin since the Georgina and Amadeus basins were part of the same Centralian Superbasin from Neoproterozoic to Early Cambrian. In addition to the presumed basement helium source in the Amadeus basin, the southern Georgina basin contains a number of `hot shales' in the Cambrian, where the radioactive decay of uranium and thorium in the sedimentary sequences could have generated the helium. Annuncio • Feb 23
Global Oil & Gas Limited, Annual General Meeting, Mar 26, 2021 Global Oil & Gas Limited, Annual General Meeting, Mar 26, 2021, at 11:00 W. Australia Standard Time. Location: to be held at 22 Townshend Road Subiaco Western Australia Australia Agenda: To consider and Ratification of Placement Shares and Free Attaching Options; to consider and Ratification of Broker Options; to consider and Issue of Options to Company Secretary Mrs. Anna MacKintosh. Annuncio • Feb 17
Global Oil & Gas Limited Provides Goshawk Energy Canning Basin Exploration Update Global Oil & Gas Limited provided Goshawk's 2021 exploration program, along with recent farm-in and exploration activity within the Canning Basin and how it could impact on Goshawk's existing adjacent/nearby exploration ground. Goshawk has 9 exploration licenses in the Canning Basin covering ~41,000 km2 (approximatley 43% of all Canning Basin exploration acreage); 100% Goshawk: EPA 94 & 126, ~5,100 km; Joint venture with Andrew Forrest's Squadron Energy: 7 licences covering ~35,000 km2: Squadron-Goshawk JV - Goshawk (Operator) 20%, Squadron 80%; World-class partner with proven track record, substantial funding capability and strong investor support; Exploration portfolio with multiple large-scale conventional and unconventional oil and gas plays. Basin Activity: High impact, adjacent drilling program by Buru/Origin, Theia and Black Mountain will further test the blocks and prove potential of the plays; Current focus on driving exploration and development of potential world class conventional sub-salt oil play with numerous 100mmbbl+ prospects and leads in EP 499; EP 499: 3,403 km of 2D seismic reprocessing currently being undertaken; 300km 3D survey planned for Third Quarter 2021; drilling planned for 2022. Buru/Origin 2021 Program: Origin earn 50% interest in Buru's 5 100% held exploration permits by paying $23 million to drill 2 exploration wells and seismic; Drilling focused on large dolomite reservoir oil plays at Rafael and Kurrajong; Seismic program of +1,000 km for prospect delineation and also regional grids to help expand the prospect portfolio; Includes extensive 2D & 3D seismic survey to delineate high potential subsalt play. Recent Insider Transactions • Feb 11
Director recently sold AU$761k worth of stock On the 9th of February, Richard Barker sold around 31m shares on-market at roughly AU$0.024 per share. This was the largest sale by an insider in the last 3 months. This was the only on-market transaction from insiders over the last 12 months. Annuncio • Feb 04
Global Oil & Gas Limited Announces Ep127 Site Approval for Helium & Hydrogen Exploration Global Oil & Gas Limited provided shareholders the following update regarding its planned 2021 helium and hydrogen exploration program. The Company's transformative exploration work program (Permit Year 2) is on schedule for this year. Given the company was not able to undertake its work program last year, mostly due to COVID related delays to access, a suspension of permit Year 2 and extension of the permit term has been applied for with the Northern Territory Government. The Company has received the Sacred Site Clearance Certificate for its proposed in field geochemical survey over the western part of the permit. The Sacred Site Clearance is a key approval for the geochemical survey. The geochemical survey will be carried out in conjunction with broader field work in the permit as part of the Year 2 Work Program. The Company expects to be in the field early in the second quarter (Q2), after the end of the wet season. The field work will involve validation of desktop surface mapping and ambient testing for helium and hydrogen as well as the geochemical survey which involves soil sampling for helium, hydrocarbons and hydrogen. The survey is designed to identify the presence of an active helium system (and hydrocarbon and hydrogen) within the permit, as well as over already identified Prospects and Leads. The Company believes that while continuing to review the potential for hydrocarbons in EP127, the geology suggests that the focus should be on the rare earth gases of helium and hydrogen which would be transformative to the Company. EP127 Exploration Program (Permit Year 2): The exploration program is primarily designed to prove the charge of helium and better define basement structuring and potential drape over basement related targets, in addition to further delineating those prospects and leads shown in the figure below. By analysing existing data sets and integrating existing interpretations and applying new thinking in the exploration for high value rare earth gases such as helium, Global can explore EP127 in a cost-effective manner for transformative results whilst still holding 100% working interest in the permit. The planned Exploration Program encompasses the following principal activities: Regional surface and remote sensing mapping validated by field work; Interpretation and integration of the latest gravity and magnetics data; Update and integration of seismic data and interpretation; Geochemical survey to establish hydrocarbon and helium charge across the permit; Integration of results into the understanding of prospectivity and planning for Year 3 (2022) work program. A significant amount of the desktop work described above was completed in preparation for the field work and geochemical survey design. The Company has previously reviewed the potential for the permit to contain the required elements to yield significant helium accumulations and is encouraged that the permit contains the key elements for the accumulation of helium. Most significantly the area covered by EP127 shares these elements with the Amadeus Basin immediately south, where high levels of helium have been tested. The geologic elements map below shows the southern Georgina Basin and the adjacent Amadeus Basin separated by the Arunta Region. To date well penetrations and oil and gas shows in the southern Georgina Basin (EP127) have mostly been confined to the Cambrian Petroleum System. No analysis of natural gas for helium has been undertaken to determine if a Cambrian Helium System exists. Like the petroleum and helium system in the Amadeus basin, the Cambrian in the southern Georgina Basin contains evaporite and shale members with the capacity to seal helium accumulations. The southern Georgina Basin (EP127) has a mostly untested Neoproterozoic section, equivalent to the Neoproterozoic petroleum and helium systems seen in the Amadeus Basin. In the Amadeus basin helium rich gas (He~6%) was discovered in the Heavitree quartzite which overlies fractured Proterozoic basement. The Gillen evaporites and shales that overlay the Heavitree quartzite provide the top-seal. The concentrations seen in the Amadeus Basin are some of the highest concentrations of naturally occurring helium identified in the world to date. The uniquely high concentration of helium in some wells in the Amadeus Basin suggests that helium extraction independent of natural gas extraction may be feasible (Waltenberg, 2015). Similar units are proposed in the southern Georgina basin since the Georgina and Amadeus basins were part of the same Centralian Superbasin from Neoproterozoic to Early Cambrian. In addition to the presumed basement helium source in the Amadeus basin, the southern Georgina basin contains a number of `hot shales' in the Cambrian, where the radioactive decay of uranium and thorium in the sedimentary sequences could have generated the helium. Annuncio • Jan 16
Global Oil & Gas Limited announced that it expects to receive AUD 1.1 million in funding Global Oil & Gas Limited (ASX:GLV) announced private placement of 100,000,000 common shares at a price of AUD 0.011 per share for gross proceeds of AUD 1,100,000 on January 15, 2021. The transaction will include participation from combination of existing major shareholders and new sophisticated investors. The company will also issue 50,000,000 free attaching options on 1:2 basis to all participants in the transaction. The free attaching options are exercisable at AUD 0.02 per share till December 15, 2022. The shares are expected to be issued next week. The transaction is expected to close on January 21, 2021. Annuncio • Nov 07
Global Oil & Gas Limited (ASX:GLV) completed the acquisition of 20% stake in Goshawk Energy Corporation Pty Ltd. Global Oil & Gas Limited (ASX:GLV) signed a letter of intent to acquire 20% stake in Goshawk Energy Corporation Pty Ltd for AUD 2.3 million on September 3, 2020. On October 8, 2020, Global Oil & Gas Limited signed formal agreement to acquire 20% stake in Goshawk Energy Corporation Pty Ltd. The consideration comprises 128.6 million GLV shares and 42.9 million options. Global Oil & Gas Limited is launching an offer for new options at AUD 0.006 and the options to be issued as consideration will be on same terms. As per terms, upon completion, GLV Board representative on the Goshawk Board and Goshawk representative on the GLV Board will be appointed. Patric Glovac is appointed as Executive Director of Global Oil. The transaction is subject to completion of due diligence, definitive agreement, regulatory approval, third party approval and consummation of private placement. Transaction also is subject to approval of shareholders of Global Oil & Gas Limited in a meeting to be held on October 29, 2020. On October 29, 2020, the shareholders approved the transaction.
Global Oil & Gas Limited (ASX:GLV) completed the acquisition of 20% stake in Goshawk Energy Corporation Pty Ltd on November 6, 2020. Richard Barker is appointed as the Director of the Global Oil & Gas Limited. The allotment of shares and options for the Tranche 2 Placement, Vendor consideration and facilitator fees occurred on November 5, 2020. As of November 6, 2020, Global Oil & Gas Limited announced the satisfaction of the remaining conditions precedent, including all necessary shareholder and regulatory approvals. Annuncio • Nov 06
Global Oil & Gas Limited Appoints Richard Barker as Director Global Oil & Gas Limited announc announced the appointment of Richard Barker as Director of the company. Richard is currently a non-executive Director and Company Secretary of the Scotgold Resources Ltd. Annuncio • Oct 01
Global Oil & Gas Limited (ASX:GLV) signed a letter of intent to acquire 20% stake in Goshawk Energy Corporation Pty Ltd. Global Oil & Gas Limited (ASX:GLV) signed a letter of intent to acquire 20% stake in Goshawk Energy Corporation Pty Ltd on September 3, 2020. Under the terms, Patric Glovac has been appointed as Executive Director and will assist Global Oil to continue advance its Goshawk Basin prospects. The transaction is subject to completion of due diligence, regulatory approval, third party approval and consummation of private placement. Transaction also is subject to approval of shareholders of Global Oil & Gas Limited in a meeting to be held on October 29, 2020. Annuncio • Sep 03
Global Oil & Gas Limited announced that it expects to receive AUD 1.2 million in funding Global Oil & Gas Limited (ASX:GLV) announced private placement of 171,428,571 shares at a price of AUD 0.007 per share for gross proceeds of AUD 3,000,000 on September 3, 2020. The company will also issue 1 option for every 3 shares exercisable at AUD 0.02 per share till December 15, 2022. Annuncio • Aug 14
Global Oil & Gas Limited announced that it expects to receive AUD 1 million in funding Global Oil & Gas Limited (ASX:GLV) announced a private placement of 142,857,143 shares at an issue price of AUD 0.007 per share for gross proceeds of AUD 1,000,000 on August 12, 2020. The transaction will include participation from qualified sophisticated and professional investors. The company will raise funding in two tranches. In first tranche it will issue 39,118,753 shares pursuant to company’s existing placement capacity under ASX Listing Rule 7.1 and ASX Listing Rule 7.1A, 103,738,390 shares in the second tranche subject to all necessary shareholder and regulatory approvals. The company also intends to issue 47,619,048 free attaching options AUD 0.02 strike, 15 Dec 2022 expiry, on a 1:3 basis to all placement participants, which will also be subject to shareholder approval at the meeting to be held on October 9, 2020. The second tranche is expected to close on October 13, 2020.
On the same day, the company received its first tranche of AUD 273,831.271. 