Announcement • Jul 03
Botala Energy Limited Announces Appointment of Rory Burn to Chief Financial Officer, Effective July 1, 2026 Botala Energy Limited appointed Mr. Rory Burn as Chief Financial Officer, effective July 1, 2026. Mr. Burn brings more than 20 years of finance and commercial experience with a track record of financing energy and resources projects and managing capital and risk allocation across a variety of operating jurisdictions. He has held senior Treasury and Commercial roles at Woodside Energy, managing key funding, mergers and acquisitions, project development and risk management initiatives across major LNG, oil and decarbonisation projects in Australia, the United States and West Africa. He also brought prior global institutional banking experience across the energy and resources sectors. This combination of project finance, treasury, capital management and commercial experience positions Mr. Burn to support Botala through the negotiation and structuring of gas sales arrangements and the expansion of joint venture and partnership structures as the Serowe CBM Project advances. Mr. Burn holds a Bachelor of Commerce from the University of Western Australia and a Master of Accounting from Curtin University. Mr. Craig Basson will continue in his existing roles as Director and Company Secretary. Mr. Burn's appointment expands Botala's finance leadership capacity as the Company's financial and commercial requirements increase. New Risk • Jun 25
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 Earnings have declined by 39% per year over the past 5 years. Shareholders have been substantially diluted in the past year (49% increase in shares outstanding). Revenue is less than US$1m (AU$28k revenue, or US$19k). Minor Risks Share price has been volatile over the past 3 months (13% average weekly change). Market cap is less than US$100m (AU$15.6m market cap, or US$10.8m). Announcement • Jun 18
Botala Energy Ltd Completes Pre-Stimulation Activities and Prepares Pitse Pilot Well 3.5B for Stimulation and Flow Testing Botala Energy Ltd. completed all planned pre-stimulation activities at the Pitse Pilot central production well 3.5B. The 5½" steel production casing has been cemented and successfully pressure tested. With integrity confirmed, the casing was perforated across the Serowe Seam which has a total thickness of 13m, including an 11m continuous coal column with no internal breaks, ideal for stimulation. The multi-stage stimulation program will commence with a step-rate test, a routine oil and gas procedure used to determine the stimulation point and permeability of the Serowe seam. A 90-day extended flow test is planned to follow stimulation to provide important data on gas flow rates, reservoir response and the potential commercial performance of the Pitse Pilot. Dewatering continues across the surrounding support well network, with gas already observed at two support wells. The production casing was run to total depth and cemented. A Cement Bond Log was subsequently completed across the cased wellbore. The results confirmed a good bond between casing, cement and formation across the Serowe seam. The cement bond provides the zonal isolation required to contain the stimulation treatment within the perforated intervals. It is intended to maximise the amount of stimulation energy directed into the target coal and its natural cleated network. Pressure testing of the casing was then completed, confirming the mechanical integrity of the well ahead of stimulation operations. With integrity confirmed, the team perforated four stimulation intervals across the Serowe Seam using the jetting methodology proven at Pitse Pilot well 3.3 in February 2026, where perforation and jetting delivered the strongest reservoir response recorded at the pilot. A wireline log confirmed the Serowe seam has a total thickness of 13m, including an 11m continuous clean coal column with no internal breaks, mudstone partings or weaker intercalations from top to base. Gamma ray and density logs confirm a high-vitrinite, low-ash coal, a type that carries materially higher gas content in Karoo-Kalahari CBM systems. Caliper data shows the borehole washed out beyond drilled diameter through the coal zones, confirming natural fracturing and a well-developed cleat network. The Serowe seam logs at 12–14m across all logged wells — only 2m of variation across the cluster footprint — with the Upper Morupule Seam at 10–11m. A datum-hung correlation across the six wells shows both seams stratigraphically continuous across the fault boundary. This lateral predictability is a fundamental requirement for the planned multi-well field development. The combined 23m of Serowe and Upper Morupule coal represents a materially larger resource in this wellbore than the pre-drill prognosis. However, the program remains focused on the Serowe seam as the primary, near-term production target. The Upper Morupule represents potential upside available later in the well’s life, as production from the Serowe seam matures. Diagnostic testing and step-rate test. Initial injection testing will provide the first direct reservoir pressure data from the well. The step-rate test is expected to be materially larger than at any previous Pitse well, reflecting the completion design and depth of well 3.5B. Main stimulation. A multi-stage stimulation program informed by the reservoir response data from Pitse Pilot well 3.3 in February 2026. 90-day extended flow test. The extended production period will generate the dataset required for an independent Competent Persons Report to support reclassification of contingent resources to 2P reserves. The stimulation rig moves directly to Serowe-3.2, which is already drilled and cased. The Serowe CBM Project in central Botswana is designed to develop a domestic source of natural gas to support power generation, industrial energy demand and LNG supply for Southern Africa. Project Pitse is the first of four development phases, targeting a cluster of six wells designed to demonstrate commercial CBM production and underpin the Bankable Feasibility Study for a Serowe-to-Leupane gas development, initially targeting LNG production of 3.5 petajoules (PJ) per year from approximately 108 wells. All environmental approvals are in place across the Serowe gasfield, LNG production facilities, energy hubs, and pipeline corridor. Well title is Serowe-3.5B and is an appraisal well targeting Coal Bed Methane. Serowe-3.5B is located at Latitude -22.24839 and Longitude 26.19624 in Mining Licence ML-52 (previously Prospecting Licence PL-400). Botala Energy Ltd. working interest is 100% in the well. Coal seam thickness is 23m in total consisting of 13m of Serowe Seam and 10m of Upper Morupule Seam. The Geological rock type is coal. The Serowe seam was encountered at a depth of 377m and the Upper Morupule seam was encountered at a depth of 397m. No flow testing to date – Just pressure testing of casing and cement. Gas is the target hydrocarbon and will be measured once well is completed. Water volumes will be tested in subsequent flow-testing. Announcement • May 30
Botala Energy Ltd Principal Commercial Production Well Pitse Pilot Well 3.5B Reaches Total Depth And Intersects Coal Seams As Planned Botala Energy Ltd. principal commercial production well, Pitse Pilot well 3.5B, at its 100%-owned Serowe Coal Bed Methane (CBM) Project in Botswana reached Total Depth (TD) of 449m on 26 May 2026. TD was called by the on-site geologist on confirmation that the target coal seam interval had been fully intersected. The Exploration Geophysics wireline logging team arrived on site the same day, with open-hole logging commencing overnight. Rock chip samples confirm the Serowe coal seams were intersected at approximately 377m depth and demonstrate that the coal intervals are indicative of initial estimates and correlate with offset Pitse wells 3.1 and 3.5A, confirming the well is in the expected structural position. Formal characterisation of the coal seam intervals will follow wireline logging, with results expected to be reported to the market early next week. Completion readiness is well advanced with stimulation chemicals on site, the cementing system function-tested, 5½" production casing staged, and water storage infrastructure in place for the stimulation program. Zero recordable safety incidents. Well 3.5B was spudded on 28 March 2026 and reached total depth of 449m on 26 May 2026. The drilling phase included three casing and cementation stages, continuous geological sampling, coordination with production activities across four support wells, and the mobilisation of key completion materials to site. Learnings from Pitse Pilot well 3.5B are expected to support more efficient drilling and completion cycles as Botala advances subsequent wells within the Serowe development program. The Phase-1 Pitse Pilot at Botala’s Serowe CBM Project in Botswana is designed to establish a production pathway to 3.5 petajoules of LNG per year. Step Detail Status Drill to Total Depth 449m TD reached 26 May 2026 — depth called by geologist on coal seam intersection Complete Open-hole wireline logging Exploration Geophysics team on site 26 May; logging commences 27 May Underway Run 5½" production casing Casing staged at Thabala; stimulation chemicals on site; cement system function-tested Mobilised Cement Bond Log (CBL) Confirms cement placement before perforation Upcoming Perforation of coal seams Serowe seam interval Upcoming DSIT & step rate test Reservoir injectivity; stimulation design parameters Upcoming Main stimulation program Multi-stage strata stimulation Upcoming Extended flow testing 90-day production period; CPR dataset for reserves reclassification Upcoming Rock chip samples collected continuously during drilling provide a complete stratigraphic record from surface to total depth. The sequence encountered is consistent throughout with the regional geological model for the Serowe area, and every expected formation appeared at the predicted depth. The character of chip returns changed at approximately 317m, where carbonaceous material was noted in the diverter pond foam — the first direct indicator of organic-rich material from the Morupule Formation. By 357m, chip returns included vitrinite stringers and minor coal chips, confirming the well was entering the coal seam interval. The geologist confirmed the main Serowe coal seam intersection at approximately 377m depth, with a thickness in line with estimates which will be confirmed in the logging. Preliminary information indicates the presence of the Serowe and Upper Morupule as predicted pre-drill. The current logging program will confirm thickness. Structural correlation with Pitse Pilot wells 3.1 and 3.5A confirms the well is on the planned 3-1 /3-2 fault block, approximately 15m deeper than well 3.5A, exactly consistent with the 20m fault displacement incorporated into the well design. The geological model has been validated by the drill. The open-hole wireline logging program starting on 27 May will formally quantify what the chip samples have qualitatively identified. The key log outputs — gamma ray (seam boundary definition), resistivity (gas saturation proxy), density/porosity (coal quality), and caliper (borehole geometry for perforation design) — will define the net coal thickness, depth and quality of the Serowe and Upper Morupule seam intervals with the precision required for perforation and stimulation planning. These results, expected early next week, are the first data from this well suitable for formal reserves assessment by an independent Competent Persons assessor. The Serowe CBM Project in central Botswana is designed to develop a domestic source of natural gas to support power generation, industrial energy demand and LNG supply for Southern Africa. Project Pitse is the first of four development phases, targeting a cluster of six wells designed to demonstrate commercial CBM production and underpin the Bankable Feasibility Study for a Serowe-to-Leupane gas development targeting LNG production of 3.5 petajoules (PJ) per year from 108 wells. All environmental approvals are in place across the Serowe gasfield, LNG production facilities, energy hubs, and pipeline corridor. Well title is Serowe-3.5B and is an appraisal well targeting Coal Bed Methane. Serowe-3.5B is located at Latitude -22.24839 and Longitude 26.19624 in Mining Licence ML-52 (previously Prospecting Licence PL-400). Botala Energy Ltd. working interest is 100% in the well. Coal seam thickness is estimated at 10m and is currently being logged. The Geological rock type is coal. The Serowe seam was encountered at a depth of 377m and the Upper Morupule seam was encountered at a depth of 397m. Gas is the target hydrocarbon and will be measured once well is completed. Water volumes will be tested in subsequent flow-testing. Announcement • Apr 21
Botala Energy Limited has completed a Follow-on Equity Offering in the amount of AUD 1.45 million. Botala Energy Limited has completed a Follow-on Equity Offering in the amount of AUD 1.45 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 29,000,000
Price\Range: AUD 0.05
Transaction Features: Subsequent Direct Listing Announcement • Apr 17
Botala Energy Limited has completed a Follow-on Equity Offering in the amount of AUD 3 million. Botala 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: 35,807,000
Price\Range: AUD 0.05
Discount Per Security: AUD 0.003
Security Features: Attached Options
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 24,193,009
Price\Range: AUD 0.05
Discount Per Security: AUD 0.003
Security Features: Attached Options
Transaction Features: Subsequent Direct Listing New Risk • Feb 13
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 36% 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 43% per year over the past 5 years. Shareholders have been substantially diluted in the past year (36% increase in shares outstanding). Revenue is less than US$1m (AU$13k revenue, or US$8.9k). Minor Risk Market cap is less than US$100m (AU$16.8m market cap, or US$11.9m). Announcement • Feb 04
Botala Energy Limited has filed a Follow-on Equity Offering in the amount of AUD 3 million. Botala Energy Limited has filed a Follow-on Equity Offering in the amount of AUD 3 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 35,807,000
Price\Range: AUD 0.05
Discount Per Security: AUD 0.003
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 24,193,009
Price\Range: AUD 0.05
Discount Per Security: AUD 0.003
Transaction Features: Subsequent Direct Listing Board Change • Jan 05
Less than half of directors are independent 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. 1 independent director (2 non-independent directors). Independent Non-Executive Director Peter Grant was the last independent director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. New Risk • Dec 04
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: AU$14.8m (US$9.80m) 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 43% per year over the past 5 years. Revenue is less than US$1m (AU$13k revenue, or US$8.3k). Market cap is less than US$10m (AU$14.8m market cap, or US$9.80m). Minor Risk Shareholders have been diluted in the past year (15% increase in shares outstanding). Announcement • Oct 24
Botala Energy Limited, Annual General Meeting, Nov 26, 2025 Botala Energy Limited, Annual General Meeting, Nov 26, 2025. Location: subiaco hotel, 465 hay street, subiaco wa 6008 Australia New Risk • Oct 23
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: AU$15.1m (US$9.81m) 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 43% per year over the past 5 years. Shareholders have been substantially diluted in the past year (40% increase in shares outstanding). Revenue is less than US$1m (AU$13k revenue, or US$8.2k). Market cap is less than US$10m (AU$15.1m market cap, or US$9.81m). 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 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 48% per year over the past 5 years. Shareholders have been substantially diluted in the past year (40% increase in shares outstanding). Revenue is less than US$1m. Minor Risks Latest financial reports are more than 6 months old (reported December 2024 fiscal period end). Market cap is less than US$100m (AU$16.5m market cap, or US$10.8m). Announcement • Sep 14
Botala Energy Limited has completed a Follow-on Equity Offering in the amount of AUD 1.5 million. Botala Energy Limited has completed a Follow-on Equity Offering in the amount of AUD 1.5 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 18,050,847
Price\Range: AUD 0.059
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 7,372,881
Price\Range: AUD 0.059
Transaction Features: Subsequent Direct Listing Announcement • Aug 18
Botala Energy Limited has filed a Follow-on Equity Offering in the amount of AUD 1.5 million. Botala Energy Limited has filed a Follow-on Equity Offering in the amount of AUD 1.5 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 18,050,847
Price\Range: AUD 0.059
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 7,372,881
Price\Range: AUD 0.059
Transaction Features: Subsequent Direct Listing Announcement • Jun 21
Botala Energy Limited has completed a Follow-on Equity Offering in the amount of AUD 0.165 million. Botala Energy Limited has completed a Follow-on Equity Offering in the amount of AUD 0.165 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 2,796,610
Price\Range: AUD 0.059
Transaction Features: Subsequent Direct Listing Board Change • Apr 29
Less than half of directors are independent 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. 1 independent director (2 non-independent directors). Independent Non-Executive Director Peter Grant was the last independent director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Announcement • Apr 22
Botala Energy Limited has completed a Follow-on Equity Offering in the amount of AUD 1.25 million. Botala Energy Limited has completed a Follow-on Equity Offering in the amount of AUD 1.25 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 8,220,339
Price\Range: AUD 0.059
Discount Per Security: AUD 0.00354
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 12,966,102
Price\Range: AUD 0.059
Discount Per Security: AUD 0.00354
Transaction Features: Subsequent Direct Listing New Risk • Mar 12
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$4.4m 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$4.4m free cash flow). Earnings have declined by 48% per year over the past 5 years. Shareholders have been substantially diluted in the past year (50% increase in shares outstanding). Revenue is less than US$1m. Market cap is less than US$10m (AU$14.9m market cap, or US$9.39m). Minor Risk Share price has been volatile over the past 3 months (14% average weekly change). New Risk • Feb 25
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 Earnings have declined by 54% per year over the past 5 years. Shareholders have been substantially diluted in the past year (50% increase in shares outstanding). Revenue is less than US$1m. Minor Risks Share price has been volatile over the past 3 months (13% average weekly change). Market cap is less than US$100m (AU$16.9m market cap, or US$10.7m). New Risk • Jan 08
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 50% 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 54% per year over the past 5 years. Shareholders have been substantially diluted in the past year (50% increase in shares outstanding). Revenue is less than US$1m. Market cap is less than US$10m (AU$12.9m market cap, or US$8.02m). Minor Risk Share price has been volatile over the past 3 months (16% average weekly change). New Risk • Dec 04
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 58% 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 54% per year over the past 5 years. Shareholders have been substantially diluted in the past year (58% increase in shares outstanding). Revenue is less than US$1m. Market cap is less than US$10m (AU$13.5m market cap, or US$8.75m). Announcement • Oct 30
Botala Energy Limited, Annual General Meeting, Nov 28, 2024 Botala Energy Limited, Annual General Meeting, Nov 28, 2024. Location: at the subiaco hotel, 465 hay street, subiaco, wa 6008 Australia Announcement • Oct 23
Botala Energy Limited has completed a Follow-on Equity Offering in the amount of AUD 1.870572 million. Botala Energy Limited has completed a Follow-on Equity Offering in the amount of AUD 1.870572 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 27,778,080
Price\Range: AUD 0.056
Discount Per Security: AUD 0.00336
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 5,625,000
Price\Range: AUD 0.056
Transaction Features: Subsequent Direct Listing Announcement • Oct 08
Botala Energy Limited Receives Approval from Department of Environmental Protection to Proceed with Commercial Development of its Serowe Energy Hub Botala Energy Limited announced that it has received approval from the Department of Environmental Protection to proceed with commercial development of its Serowe Energy Hub located centrally within the large village of Serowe near all necessary services. Developments will need standard approvals and permits from local authorities. Botala's prime focus is development of its 100% owned Serowe coal bed methane gas project. The secondary focus is to develop solar energy and related opportunities, hence the development of the 110ha Serowe Energy Hub and 1520ha Leupane Energy Hub and Industrial Park adjacent to Palapye in Botswana. Serowe, with a population of more than 50,000, is an important administrative and culturally significant village. Proposed Energy Hub is centrally located within Serowe with good access to infrastructure and services, including connection to the local electricity grid. Botala's Energy Hub at Leupane is larger than that at Serowe and includes staged development of a 500MW solar farm and 200MW gas hybrid plant. Stage-1 will be developed in joint venture with AAAS Energy BV of the Netherlands as announced to the ASX on 12 April 2024. A binding agreement requires AAAS to farm-into 50% of the Project for AUD 1 million, with AAAS being responsible for all initial development capital. A Bankable Feasibility Study is expected to be completed by the end of 2024. Announcement • Apr 05
Botala Energy Limited (ASX:BTE) agreed to acquire an 30% in Serowe CBM Project from Pure Hydrogen Corporation Limited (ASX:PH2) for AUD2 million. Botala Energy Limited (ASX:BTE) agreed to acquire an 30% in Serowe CBM Project from Pure Hydrogen Corporation Limited (ASX:PH2) for AUD2 million on April 4, 2024. New Risk • Jan 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 Shares are highly illiquid. Revenue is less than US$1m. Market cap is less than US$10m (AU$13.5m market cap, or US$9.05m). Minor Risk Shareholders have been diluted in the past year (21% increase in shares outstanding). Board Change • Dec 18
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 2 non-independent directors. Independent Non-Executive Director Peter Grant was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Nov 29
Botala Energy Limited has completed a Follow-on Equity Offering in the amount of AUD 1.33 million. Botala Energy Limited has completed a Follow-on Equity Offering in the amount of AUD 1.33 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 8,944,444
Price\Range: AUD 0.09
Discount Per Security: AUD 0.0054
Security Features: Attached Options
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 5,833,333
Price\Range: AUD 0.09
Discount Per Security: AUD 0.0054
Transaction Features: Subsequent Direct Listing Announcement • Oct 21
Botala Energy Limited, Annual General Meeting, Nov 22, 2023 Botala Energy Limited, Annual General Meeting, Nov 22, 2023, at 11:00 W. Australia Standard Time. Location: Subiaco Hotel, 465 Hay Street, Subiaco, Subiaco Western Australia Australia Agenda: To consider annual report; to consider Remuneration Report; to consider Re-election of Director Craig Basson; to consider Approval of 10% Placement Facility; to consider Ratification of issue of Placement Shares; to consider Approval of issue of Placement Options; to consider Approval of issue of Director Placement Securities; to consider Ratification of issue of Equipment Provider Shares; and to consider Approval of issue of Joint Lead Manager Options. New Risk • Oct 06
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 6.6% 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 Shares are highly illiquid. Revenue is less than US$1m. Market cap is less than US$10m (AU$10.9m market cap, or US$6.94m). Minor Risk Shareholders have been diluted in the past year (6.6% increase in shares outstanding). New Risk • Sep 29
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 Shares are highly illiquid. Revenue is less than US$1m. Market cap is less than US$10m (AU$13.6m market cap, or US$8.79m). Minor Risk Latest financial reports are more than 6 months old (reported December 2022 fiscal period end). Board Change • Aug 21
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 2 non-independent directors. Independent Non-Executive Director Peter Grant was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Jul 31
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 2 non-independent directors. Independent Non-Executive Director Peter Grant was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Jan 23
Botala Energy Limited Announces Serowe-7 Spud Date & Serowe-3 Flow-Testing Update Botala Energy Ltd. announce the Serowe-7 well is expected to spud on 27 January 2023. The Serowe-7 well is a ~1km step-out from the Serowe-1 well which was drilled by Strata-X Energy Ltd. in 2018. Serowe-7 was due to spud in December 2022, however, delays due to weather conditions and essential rig repairs impacted on the time required to complete the Serowe-7 well prior to breaking for Christmas. The deferral allowed Botala to engage Perth based Geophysics consultancy NewExco to complete an independent assessment of the gravity and Audio Magnetotelluric (AMT) survey results and well logs ahead of finalising the location of the Serowe-7 well. Flow-testing of Serowe-3 continues with the water level now drawn down to 160m above the top of the coals and the average water flowrate increasing from 58 bbls/day1 to 70 bbls/day by 20 January 2023. The increase is encouraging as it indicates the reservoir is maintaining permeability with the increasing pressure drawdown. Announcement • Dec 21
Botala Energy Limited Provides the Following Update on the Operational Programme Underway on the Serowe CBM Project Botala Energy Ltd. provided the following update on the operational programme underway on the Serowe CBM Project. Spudding the Serowe-7 has been delayed due to poor weather conditions and essential rig repairs. The rig will remain on location, and the well will now be spudded in January 2023 targeting the week commencing the 18 January. Further work will be completed over the break period on the integration and re-interpretation of the Audio Magneto telluric (AMT) geophysical survey and gravity surveys results with the Serowe-6 well. Flow-testing of Serowe-3 continues with the water level now drawn down to 220m from the top of the coals and an average water flowrate increasing to 58 bbls/day over the period 1st December to 17th December. Gas bubbles have been seen at surface within the produced water. Logging results of the Serowe-6 well indicate 30m of coal seams have been encountered, results of the Nuclear Magnetic Resonance (NMR) have determined the estimated average gas content in the Serowe Seam of 2.44 m3 per tonne of coal, this is in line with the average seen to date. The Lower Morupule estimated average gas content was lower than the regional average. Further details in respect of Botala's drilling programme are set out in Sections 2.6 and 3.7 of the Prospectus. Board Change • Dec 20
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 2 non-independent directors. Independent Non-Executive Director Peter Grant was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Dec 07
Botala Energy Limited Provides Flow Testing and Exploration Well Update Botala Energy Ltd. announced the logging results of the Serowe-6 well indicate that 30m of coal seams have been encountered. Coals were encountered at 388m prior to reaching a Target Depth of 540m, the well was logged using Nuclear Magnetic Resonance (NMR) technology to determine adsorbed gas, free gas and indications of permeability of the targeted coal seams. Results of the NMR are expected to take another week for the final report. The primary target is the Serowe coal seam (upper seam) and logging results have increased the area of the lower 2 seams know to Botala. Flow-testing of the Serowe-3 well is progressing as planned, with steady draw down, flow results have increased to a stabilised water flow of 55 bbls/day in the Serowe Coal Seam (upper coal formation). Water flow-rate is an indication of the permeability of the coals. Announcement • Nov 29
Botala Energy Limited Serowe-6 Flow Testing Commissioned Botala Energy Ltd. announce that the Kalahari Gas Corporation (KGC) contracted drilling rig has successfully drilled the Serowe-6 well. The well reached a Target Depth (TD) of 540m and the well is currently being logged using Nuclear Magnetic Resonance (NMR) technology to determine adsorbed gas, free gas and indications of permeability of the targeted coal seams. Coals were encountered at 381m and extended to approximately 515m. Onsite logging is expected to be completed by 2 December 2022, with results and final report anticipated a week later. The KGC rig has moved to the Serowe-7 well site and is expected to spud during the week starting 5 December 2022. The Serowe-7 well is located 2.5km South-East of the Serowe-1 well and aims to extend the high-graded area between the Serowe-3 location and Serowe-1. Flow-testing of the Serowe-3 well is progressing as planned, initial water flow results are above expectations with a stabilised water flow of 42 bbls/day in the Serowe Coal Seam (upper coal formation). Water flow-rate is an indication of permeability of the coals. The 42km long Audio Magnetotelluric (AMT) geophysical survey has been completed and the contractor has de-mobilised. Further details in respect of Botala's drilling programme are set out in Sections 2.6 and 3.7 of the Prospectus. Additionally, the current water production rates from the Serowe-3 well are very encouraging. These are early days, but the programme is progressing well. Final flow-data will be used to design the commercial pilot programme. Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 2 non-independent directors. Independent Non-Executive Director Peter Grant was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Nov 05
Botala Energy Ltd Announces Serowe-3 Flow Testing Commissioned Botala Energy Ltd. announced that the Kalahari Gas Corporation (KGC)'s contracted drilling and workover rigs successfully reamed the downhole coal seam sections of the Serowe-3 well. Logging confirmed that the diameter of the hole was successfully increased from 6.5 to 10 inches. A downhole pump and flow-testing skid have been installed and commissioned. The well will now be tested for 3 months. The KGC rig has moved to the Serowe-6 well site with the exploration well spudded on 3 November 2022. The AMT geophysical survey work over the location has been completed and the work crew have moved to the Serowe-7 well location. Further details of the company's drilling programme are set out in Sections 2.6 and 3.7 of the Prospectus. Highlights: Serowe-3 well successfully reamed and cleaned; Downhole pump and surface flow-testing equipment installed and commissioned; Rig has moved to the Serowe-6 well site with the exploration well spudded on 3 November 2022; Completed 26km of 42km AMT surveys. Announcement • Sep 28
Botala Energy Limited, Annual General Meeting, Nov 23, 2022 Botala Energy Limited, Annual General Meeting, Nov 23, 2022, at 11:00 W. Australia Standard Time. Location: Subiaco Hotel Subiaco Western Australia Australia Board Change • Jul 14
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 2 non-independent directors. Independent Non-Executive Director Peter Grant was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model.