Announcement • May 02
Prominence Energy Ltd has filed a Follow-on Equity Offering in the amount of AUD 1.56 million. Prominence Energy Ltd has filed a Follow-on Equity Offering in the amount of AUD 1.56 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 424,169,096
Price\Range: AUD 0.0022
Discount Per Security: AUD 0.000132
Security Features: Attached Options
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 257,649,085
Price\Range: AUD 0.0022
Discount Per Security: AUD 0.000132
Security Features: Attached Options
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 27,272,727
Price\Range: AUD 0.0022
Discount Per Security: AUD 0.000132
Transaction Features: Subsequent Direct Listing New Risk • Mar 17
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$1.5m 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$1.5m free cash flow). Share price has been highly volatile over the past 3 months (37% average weekly change). Earnings have declined by 5.4% per year over the past 5 years. Shareholders have been substantially diluted in the past year (336% increase in shares outstanding). Revenue is less than US$1m (AU$1.3k revenue, or US$898). Market cap is less than US$10m (AU$5.09m market cap, or US$3.61m). Announcement • Nov 28
Prominence Energy Ltd Announces Retirement of Mr. Quinton Meyers as Director, Effective December 31, 2025 Prominence Energy Ltd. announced that Mr. Quinton Meyers has notified the Board of his decision to retire as a Director, effective December 31, 2025. Announcement • Oct 31
Prominence Energy Ltd, Annual General Meeting, Nov 28, 2025 Prominence Energy Ltd, Annual General Meeting, Nov 28, 2025. Location: at nexia perth, level 4, 88 william st, perth wa 6000 Australia 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 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 Share price has been highly volatile over the past 3 months (43% average weekly change). Earnings have declined by 35% per year over the past 5 years. Shareholders have been substantially diluted in the past year (128% increase in shares outstanding). Revenue is less than US$1m. Market cap is less than US$10m (AU$2.67m market cap, or US$1.75m). Minor Risk Latest financial reports are more than 6 months old (reported December 2024 fiscal period end). Announcement • Aug 22
Prominence Energy Ltd has completed a Follow-on Equity Offering in the amount of AUD 1.75 million. Prominence Energy Ltd has completed a Follow-on Equity Offering in the amount of AUD 1.75 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 97,294,097
Price\Range: AUD 0.0035
Discount Per Security: AUD 0.00021
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 402,705,903
Price\Range: AUD 0.0035
Discount Per Security: AUD 0.00021
Transaction Features: Subsequent Direct Listing New Risk • Jul 10
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 56% 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 Share price has been highly volatile over the past 3 months (51% average weekly change). Earnings have declined by 35% per year over the past 5 years. Shareholders have been substantially diluted in the past year (56% increase in shares outstanding). Revenue is less than US$1m. Market cap is less than US$10m (AU$1.46m market cap, or US$955.2k). Announcement • Jun 25
Prominence Energy Ltd has filed a Follow-on Equity Offering in the amount of AUD 1.75 million. Prominence Energy Ltd has filed a Follow-on Equity Offering in the amount of AUD 1.75 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 97,294,097
Price\Range: AUD 0.0035
Discount Per Security: AUD 0.00021
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 402,705,903
Price\Range: AUD 0.0035
Discount Per Security: AUD 0.00021
Transaction Features: Subsequent Direct Listing Announcement • Jun 23
Prominence Energy Ltd (ASX:PRM) entered into a binding heads of agreement to acquire Gawler Group Holdings Pty Ltd. Prominence Energy Ltd (ASX:PRM) entered into a binding heads of agreement to acquire Gawler Group Holdings Pty Ltd on June 23, 2025. The consideration consists of 475 million common equity of Prominence Energy Ltd to be issued for common equity of Gawler Group Holdings Pty Ltd. Prominence Energy Ltd will pay an earnout/contingent payment Class A Performance Rights and Class B performance rights. The transaction will be financed through equity investment of AUD 1.75 million.
On completion of the acquisition, Prominence Energy Ltd will make the following Board changes, along with the appointment of a new Chief Operating Officer and technical Advisor.
The transaction is subject to approval of offer by acquirer shareholders, consummation of legal and financial due diligence investigation, completion of capital raising, and third-party approval needed. New Risk • Mar 14
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$1.2m 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$1.2m free cash flow). Earnings have declined by 35% per year over the past 5 years. Shareholders have been substantially diluted in the past year (99% increase in shares outstanding). Revenue is less than US$1m. Market cap is less than US$10m (AU$1.17m market cap, or US$737.5k). Announcement • Oct 29
Prominence Energy Ltd, Annual General Meeting, Nov 27, 2024 Prominence Energy Ltd, Annual General Meeting, Nov 27, 2024. Location: nexia perth, level 3, 88 william st, perth wa 6000 Australia New Risk • Oct 01
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 Share price has been highly volatile over the past 3 months (23% average weekly change). Earnings have declined by 46% per year over the past 5 years. Shareholders have been substantially diluted in the past year (102% increase in shares outstanding). Revenue is less than US$1m. Market cap is less than US$10m (AU$1.87m market cap, or US$1.29m). Minor Risk Latest financial reports are more than 6 months old (reported December 2023 fiscal period end). Board Change • Sep 17
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent Non-Executive Chairman Ian McCubbing was the last independent director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Sep 10
Prominence Energy Ltd has completed a Follow-on Equity Offering in the amount of AUD 0.389 million. Prominence Energy Ltd has completed a Follow-on Equity Offering in the amount of AUD 0.389 million.
Security Name: Equity Shares
Security Type: Common Stock
Securities Offered: 77,800,000
Price\Range: AUD 0.005
Discount Per Security: AUD 0.00035
Security Features: Attached Options
Transaction Features: Subsequent Direct Listing New Risk • Apr 20
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 Earnings have declined by 46% per year over the past 5 years. Shareholders have been substantially diluted in the past year (61% increase in shares outstanding). Revenue is less than US$1m. Market cap is less than US$10m (AU$1.37m market cap, or US$876.6k). Minor Risk Share price has been volatile over the past 3 months (15% average weekly change). 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: 61% 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 49% per year over the past 5 years. Shareholders have been substantially diluted in the past year (61% increase in shares outstanding). Revenue is less than US$1m. Market cap is less than US$10m (AU$1.95m market cap, or US$1.29m). Minor Risk Share price has been volatile over the past 3 months (16% average weekly change). Announcement • Mar 05
Prominence Energy Ltd has filed a Follow-on Equity Offering in the amount of AUD 1.1625 million. Prominence Energy Ltd has filed a Follow-on Equity Offering in the amount of AUD 1.1625 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 116,250,000
Price\Range: AUD 0.01
Security Features: Attached Options
Transaction Features: Subsequent Direct Listing New Risk • Feb 10
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 Less than 1 year of cash runway based on free cash flow trend (-AU$2.3m free cash flow). Share price has been highly volatile over the past 3 months (17% average weekly change). Earnings have declined by 49% per year over the past 5 years. Revenue is less than US$1m. Market cap is less than US$10m (AU$1.56m market cap, or US$1.02m). Minor Risk Shareholders have been diluted in the past year (29% increase in shares outstanding). Announcement • Oct 21
Prominence Energy Ltd, Annual General Meeting, Nov 23, 2023 Prominence Energy Ltd, Annual General Meeting, Nov 23, 2023, at 12:00 W. Australia Standard Time. Location: Level 2 30 Richardson Street West Perth Western Australia Australia Agenda: To receive and consider the Annual Financial Report, together with the Directors' and Auditor's Reports, for the financial year ended 30 June 2023; to consider remuneration report; to consider the re-election of director Mr. Troy Hayden; to consider the election of Mr. Ian McCubbing; to consider the approval of 10% placement capacity; to consider the ratification of issue of placement shares under listing rule 7.1 capacity; to consider the ratification of issue of placement shares under listing rule 7.1A capacity; to consider the approval to grant placement options; to consider the approval for Alexander Parks to participate in the placement; to consider the approval for Troy Hayden to participate in the placement; to consider the approval for Ian McCubbing to participate in the placement; and to consider the approval to issue securities to Sonu Cheema. New Risk • Sep 13
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 27% 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 Less than 1 year of cash runway based on free cash flow trend (-AU$10.0m free cash flow). Share price has been highly volatile over the past 3 months (19% average weekly change). Earnings have declined by 56% per year over the past 5 years. Revenue is less than US$1m. Market cap is less than US$10m (AU$2.62m market cap, or US$1.68m). Minor Risk Shareholders have been diluted in the past year (27% increase in shares outstanding). Announcement • Dec 09
Prominence Energy Ltd. Announces Executive Changes Prominence Energy Ltd. announced that Ian McCubbing will be stepping back onto the PRM Board as non-executive Chairman from 9 December 2022. Ian McCubbing is a Chartered Accountant with more than 30 years' corporate experience, including five years investment banking, principally in the areas of corporate finance and mergers and acquisitions. Mr. McCubbing has spent more than 15 years' working with ASX 200 and other listed companies in senior finance roles, including positions as Finance Director and Chief Financial Officer in mining and industrial companies. Mr. McCubbing holds a Bachelor of Commerce (Honours) from UWA and an Executive MBA from the AGSM. Mr. McCubbing is a Chartered Accountant and a Graduate of the Australian Institute of Company Directors and is non-executive Chairman of Rimfire Pacific Mining Limited. Jaap Poll has decided to step down from the PRM Board as an independent non-executive Director and Chairman effective 9 December 2022. The Company is pleased to confirm that Jaap Poll will continue to provide technical consulting services to PRM for a three-month period. Announcement • Sep 17
Prominence Energy Ltd, Annual General Meeting, Nov 14, 2022 Prominence Energy Ltd, Annual General Meeting, Nov 14, 2022. Announcement • Jun 14
Prominence Energy Ltd Announces Sasanof-1 Well Campaign Completed Prominence Energy advises that Western Gas ("WGC") has provided the following operational update on the Sasanof-1 exploration well operations, located in exploration permit WA-519-P, in Commonwealth waters approximately 207km northwest of Onslow Western Australia. The Sasanof-1 exploration well was drilled by the Valaris MS-1 without incident. The rig has demobilised from the well location and departed exploration permit WA-519-P on 12 June 2022. The well has been plugged and permanently abandoned, with wellhead infrastructure removed. The well was drilled to a total depth of 2,390 m on 5 June 2022 and intersected the Lower Barrow Group target sands at a depth of 2,252.9 m TVDSS, 3.9m below the prognosed pre-drill prediction. A preliminary evaluation indicates 40m of net sand was encountered. However, the sands contained water and no commercial hydrocarbons were detected. Initial technical analysis indicates that the expected western seal of the targeted stratigraphic trap was breached allowing migration of gas out of the Prospect. As planned, the well cost under $25 million with a duration of 25 days. Announcement • Jun 07
Prominence Energy Ltd. Announces Sasanof-1 Well Result Prominence Energy advised that Western Gas has provided the following operational update on the drilling of the Sasanof-1 exploration well, located in exploration permit WA-519-P, in Commonwealth waters approximately 207km northwest of Onslow Western Australia . 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-mobilisation activities will then commence. Announcement • May 31
Prominence Energy Ltd Announces That Western Gas Advises Updates on the Drilling of the Sasanof-1 Exploration Well Prominence Energy announced that Western Gas has advised the following operational updates on the drilling of the Sasanof-1 exploration well. Sasanof is a 2U Prospective Resource of 7.2 Tcf gas and 176 Million bbls condensate (P501), with 32% geological chance of success. PRM holds 12.5% beneficial interest in the Sasanof-1 well. The Sasanof prospect is located in exploration permit WA-519-P, in Commonwealth waters approximately 207km northwest of Onslow Western Australia. The Sasanof Prospect is a large, seismic amplitude supported, structural-stratigraphic trap in the high-quality reservoir sands of the Cretaceous Lower Barrow Group on the Exmouth Plateau. The Sasanof Prospect is located up dip from the liquids rich, low CO2 Mentorc Gas and Condensate field and near to the giant gas fields of Scarborough and Io-Janz in the Carnarvon Basin. The prospect covers an area of approximately 400km2. ERC Equipoise Ltd. independently determined that Sasanof is an estimated 2U Prospective Resource of 7.2 Tcf of gas and 176 million bbls of condensate (P50 recoverable) and a 32% Chance of Success (CoS). The High Case 3U Prospective Resource estimate is 17.8TCF and 449 million bbls of condensate. The Prospect is supported by Direct Hydrocarbon Indicators (DHIs) with strong seismic amplitudes defining the prospect area and the reservoir is anticipated to be of high quality and effectively sealed at the top of the Lower Barrow Group. The reservoir is predicted to be a series of coarsening upward sandstone cycles with a gross thickness of 80m at the well location. The well will drill through the reservoir section and reach total depth within the Lower Barrow Group shales. Announcement • May 23
Prominence Energy Announces That Western Gas Advised Operational Updates on the Drilling of the Sasanof-1 Exploration Well Prominence Energy announced that Western Gas has advised the following operational updates on the drilling of the Sasanof-1 exploration well. Sasanof is a 2U Prospective Resource of 7.2 Tcf gas and 176 Million bbls condensate (P501), with 32% geological chance of success. PRM holds 12.5% beneficial interest in the Sasanof-1 well. The Sasanof prospect is located in exploration permit WA-519-P, in Commonwealth waters approximately 207km northwest of Onslow Western Australia. The Sasanof Prospect is a large, seismic amplitude supported, structural-stratigraphic trap in the high-quality reservoir sands of the Cretaceous Lower Barrow Group on the Exmouth Plateau. The Sasanof Prospect is located up dip from the liquids rich, low CO2 Mentorc Gas and Condensate field and near to the giant gas fields of Scarborough and Io-Janz in the Carnarvon Basin. The prospect covers an area of approximately 400km square. ERC Equipoise Ltd. independently determined that Sasanof is an estimated 2U Prospective Resource of 7.2 Tcf of gas and 176 million bbls of condensate (P50 recoverable) and a 32% Chance of Success (CoS). The High Case 3U Prospective Resource estimate is 17.8TCF and 449 million bbls of condensate (P10 recoverable). The Prospect is supported by Direct Hydrocarbon Indicators (DHIs) with strong seismic amplitudes defining the prospect area and the reservoir is anticipated to be of high quality and effectively sealed at the top of the Lower Barrow Group. The reservoir is predicted to be a series of coarsening upward sandstone cycles with a gross thickness of 80m at the well location. The well will drill through the reservoir section and reach total depth within the Lower Barrow Group shales. Announcement • May 18
Prominence Energy Announces Sasanof-1 Well Update Prominence Energy announced that Western Gas (WGC) has announced that following operational updates on the drilling of the Sasanof-1 exploration well. Valaris MS-1 rig is anchored in the Dampier outer harbour and has commenced mobilisation activities for departure to the Sasanof Prospect on the North West Shelf. Secondary anchors have been pulled, and the rig is secured to the GO Spica support vessel bridle for the tow to the Sasanof-1 exploration well location. Primary anchors will then be recovered by the Far Senator, and the tow commenced. Transit time is expected to be approximately four days, weather dependent. All required equipment has been loaded onto the rig for commencement of drilling. Preliminary preparations for drilling operations are being conducted: Mud mat, low pressure wellhead housing and conductors prepared for deployment. 13-3/8" casing stands made up and racked in preparation for deployment on completion of 17-1/2" hole section. Third party services equipment being installed and tested. Drilling operations (conductor jetting) are expected to commence during week starting 23 May. Announcement • May 08
Prominence Energy Ltd Appoints Sonu Cheema as Joint Company Secretary Prominence Energy Ltd. announced the appointment of Sonu Cheema as Joint Company Secretary effective from 6 May 2022. Sonu Cheema has over 10 years' experience working with public and private companies in Australia and abroad. He currently serves as a Company Secretary for several ASX listed companies within the mineral exploration and technology sectors. Announcement • Apr 01
Prominence Energy Ltd acquired 12% stake in Multi-TCF Sasanof Gas Prospect from Western Gas Pty Ltd Prominence Energy Ltd (ASX:PRM) signed a binding term sheet to acquire an unknown minority stake in Multi-TCF Sasanof Gas Prospect from Western Gas Pty Ltd for AUD 0.99 million on December 7, 2021. Once the Sasanof well is fully funded, PRM will issue 90 million PRM shares and 30 million PRMOB options with an exercise price of AUD 0.02 per share and expiry date of September 1, 2023 as part of the consideration. PRM will issue 30 million PRM shares to GTT Ventures Pty Ltd (or nominee) as deal facilitator. PRM has secured a firm commitment to raise AUD 12 million before costs via a two-tranche placement. PRM will issue 1.2 billion PRM shares at a price of AUD 0.01 each with 1 free attaching PRMOB option for every 3 placement shares subscribed for. PRM will acquire (a total 12.5% of the shares via an acquisition of shares from Western Gas and subscription for new shares in WG519 and consequentially a 12.5% beneficial interest in the WA-519-P license. WA519 will have 4 Board members (2 from Western Gas, 1 from GLV, 1 from PRM). The transaction is subject to shareholder approval of PRM and Western Gas, execution of a shareholders agreement and other agreements, due diligence, subscribe for AUD 7.06 million in shares in Western Gas (519 P) Pty Ltd which is the permit holder of the Sasanof Prospect, Western Gas securing funding for the full well cost, PRM raising a minimum of AUD 9 million through the issue of ordinary shares at not less than AUD 0.01 each and WG519 making a formal decision to proceed with the drilling of the Sasanof Project Well. The transaction is expected to close on January 25, 2022. As of December 20, 2021 Prominence Energy Ltd (ASX:PRM) shareholders approve and authorize the issue of 90,000,000 Shares and 30,000,000 Listed Options to Western Gas (or its nominees) as consideration for the Acquisition on the terms and conditions set out in the Explanatory Memorandum. As of March 15, 2022. Western Gas Corporation Pty Ltd has secured funding commitments for the remaining 25% of the Sasanof-1. PRM has been issued the shares in Western Gas (519P) Pty Ltd and as approved by shareholders at PRM’s EGM on 19 January 2022. As of March 31, 2022, Western Gas have been issued 90 million PRM shares and 30 million PRMOB options as part of the consideration.
Prominence Energy Ltd completed the acquisition of 12% stake in Multi-TCF Sasanof Gas Prospect from Western Gas Pty Ltd on March 31, 2022. Announcement • Feb 03
Prominence Energy Ltd Announces That Western Gas Has Secured Well Operations Management Plan (Womp) Acceptance from Nopsema for the Drilling and Related Activities of the Sasanof-1 Exploration Well Prominence Energy Ltd. announced that Western Gas has secured Well Operations Management Plan (WOMP) acceptance from NOPSEMA for the drilling and related activities of the Sasanof-1 exploration well. The WOMP acceptance is a major milestone for the project as the last major approval require prior to drilling. The WOMP approval follows on from the Safety Case and Environmental Plan acceptance received in December 2021. 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. As Announced on 7 December 2021, PRM has signed a binding term sheet to acquire a 12.5% interest in the Multi-TCF Sasanof Gas Prospect located in exploration Permit WA-519-P on the Northwest Shelf, Australia PRM will acquire a 12.5% shareholding in the company which is the permit holder of the Sasanof Prospect. Once the Sasanof well is fully funded, PRM will issue 90 million PRM shares and 30 million PRMOB options as part of the consideration subject to PRM shareholder approval and subscribe for US$5.0million in shares in the Western Gas subsidiary company which is the permit holder the Sasanof Prospect with such funds to be used to cover part of the costs of drilling the Sasanof well. PRM has secured a firm commitment to raise A$12 million before costs via a two-tranche placement. PRM will issue 1.2 billion PRM shares at a price of 1c each with 1 free attaching PRMOB option for every 3 placement shares subscribed for. Announcement • Dec 08
Prominence Energy Ltd (ASX:PRM) signed a binding term sheet to acquire an unknown minority stake in Multi-TCF Sasanof Gas Prospect from Western Gas Pty Ltd for AUD 0.99 million. Prominence Energy Ltd (ASX:PRM) signed a binding term sheet to acquire an unknown minority stake in Multi-TCF Sasanof Gas Prospect from Western Gas Pty Ltd for AUD 0.99 million on December 7, 2021. Once the Sasanof well is fully funded, PRM will issue 90 million PRM shares and 30 million PRMOB options with an exercise price of AUD 0.02 per share and expiry date of September 1, 2023 as part of the consideration. PRM will issue 30 million PRM shares to GTT Ventures Pty Ltd (or nominee) as deal facilitator. PRM has secured a firm commitment to raise AUD 12 million before costs via a two-tranche placement. PRM will issue 1.2 billion PRM shares at a price of AUD 0.01 each with 1 free attaching PRMOB option for every 3 placement shares subscribed for. PRM will acquire (a total 12.5% of the shares via an acquisition of shares from Western Gas and subscription for new shares in WG519 and consequentially a 12.5% beneficial interest in the WA-519-P license. WA519 will have 4 Board members (2 from Western Gas, 1 from GLV, 1 from PRM). The transaction is subject to shareholder approval of PRM and Western Gas, execution of a shareholders agreement and other agreements, due diligence, subscribe for AUD 7.06 million in shares in Western Gas (519 P) Pty Ltd which is the permit holder of the Sasanof Prospect, Western Gas securing funding for the full well cost, PRM raising a minimum of AUD 9 million through the issue of ordinary shares at not less than AUD 0.01 each and WG519 making a formal decision to proceed with the drilling of the Sasanof Project Well. The transaction is expected to close on January 25, 2022. Recent Insider Transactions • Jul 31
Insider recently bought AU$50k worth of stock On the 28th of July, Paul Neate bought around 5m shares on-market at roughly AU$0.01 per share. In the last 3 months, they made an even bigger purchase worth AU$186k. Insiders have collectively bought AU$301k more in shares than they have sold in the last 12 months. Announcement • Jul 20
Prominence Energy Limited Provides Drilling Update At Bowsprit-1 Milestone Prominence Energy Limited is announced to have signed a rig contract with Parker Drilling for Rig 55B1 for the drilling of the Bowsprit-1 well. Drilling is expected to commence on 15 August 2021, following two wells by other Operators. The exact date is subject to the timing of the other two wells. As previously announced the drilling will be managed by Completion Specialists International (CSI). CSI is a Lafayette, Louisiana based company which offers drilling project management services. Total project management consists of engineering pre-planning, invoicing and accounts payable, drilling and completion design, and job oversite and supervision. Prominence Energy views the total project management concept as an excellent bridge for companies with limited staff or companies based overseas and will allow PRM to confidently execute the well despite Australian to US travel restrictions. The well is expected to take approximately 10-12 days and cost approximately USD 2 million to drill on a trouble-free basis. Following additional well planning and geoscience work, the well depth has been increased to 8,600feet (from 8,000 ft) to drill a further two deeper sands which may be prospective for hydrocarbons. Overall, the Bowsprit-1 well is forecast to penetrate an anticipated six prospective reservoir sands. The principal target is the T2 Middle Miocene Sand, which sits up dip from the proven oil in T1. The five other sands are located between 6,500ft and 8,400ft in depth and are established reservoirs in the area. The Bowsprit leases are located approximately 70km southeast of New Orleans in approximately 3m of water. Bowsprit is assessed to contain an undeveloped conventional Miocene aged oil sand at a depth of approximately 7,400ft (2,255m) that is located above a deeper, 9,500ft gas field that was developed in the 1960s by Shell. Consequently, the Bowsprit field contains 14 vertical well penetrations and has demonstrated producible oil from an upper Miocene sand (T1). The 30ft thick oil sand was flowed successfully in the 1960s from four wells and produced approximately 75,000 bbls of oil, which is only a few percent of the oil in place. Full field development was not practical with the well technology of the time. PRM is planning to drill a vertical Bowsprit well to appraise the project upside in August 2021. The well will be drilled to a depth of approximately 8,600ft. The main target is the T2 Middle Miocene Sand that sits under the proven field and runs up dip approximately 100ft above the known oil to a potential fault closure. If this T2 reservoir is proven to contain oil the 2U/3U Prospective (recoverable) Resources are estimated as 1.8 4.1MMbbls3. The independent auditor estimates the chance of success at 25%. Announcement • Jun 26
Prominence Releases Extraction Console to Automate Data Pipelines Prominence announced the release of version 2.0 of their Extraction Console, a major development that enables healthcare organizations to create automated, governed data pipelines with no code required. The Prominence Extraction Console helps healthcare organizations to maximize their existing investments in technology and staff by enabling them to access their data, eliminate silos and leverage information to answer questions and take action. Features: Easy to Use and High Performance: Extraction Console users can create new data extractions in seconds without having to enter any code. Simply specify the data source, data to extract and the appropriate schedule and the Extraction console manages everything behind the scenes. By automating the code writing process, the Extraction Console eliminates copy-paste errors and ensures high performance by implementing incremental extractions wherever possible. Safe and Secure: The Extraction Console is extremely secure and user provisioning and permissions are straight-forward. Whether deployed on premises or on the cloud, the Extraction Console delivers code to be executed within firewalls and environments: data never leaves environments. Effortless Governance: Native features include audit logging, rollback, and version control for all actions taken within the Extraction Console. This allows to rapidly correct any issues and understand the actions team members are completing. Scalability: The Extraction Console is light weight enough that it can be used for point solutions, but is built for mature, multi-environment analytics deployments. It contains functionality to manage migration from development to production to follow development best practices. Announcement • Jun 22
Prominence Energy Limited Provides Drilling Update at Bowsprit-1 Milestone Prominence Energy Limited announced that it has signed a Master Services Agreement with Completion Specialists Inc. (CSI) for the management of the Bowsprit-1 well drilling in July-August 2021. The Bowsprit leases are located approximately 70km southeast of New Orleans in approximately 3m of water. Bowsprit is assessed to contain an undeveloped conventional Miocene aged oil sand at a depth of approximately 7,400ft (2,255m) that is located above a deeper, 9,500ft gas field that was developed in 1960s by Shell. Consequently, the Bowsprit field contains 14 vertical well penetrations and has demonstrated producible oil from an upper Miocene sand (T1). The 30ft thick oil sand was flowed successfully in 1960s from four wells and produced approximately 75,000 bbls of oil, which is only a few percent of the oil in place. Full field development was not practical with the well technology of the time. PRM is planning to drill a vertical Bowsprit well to appraise the project upside in July-August 2021. The well will be drilled to a depth of approximately 8,000ft. The main target is the T2 Middle Miocene Sand that sits under the proven field and runs up dip approximately 100ft above the known oil to a potential fault closure. If this T2 reservoir is proven to contain oil the 2U/3U Prospective Resources are estimated as 1.8 4.1MMbbls2. The independent auditor estimates the chance of success at 25%. Recent Insider Transactions • Jun 09
Insider recently bought AU$186k worth of stock On the 1st of June, Paul Neate bought around 11m shares on-market at roughly AU$0.017 per share. This was the largest purchase by an insider in the last 3 months. This was the only on-market transaction from insiders over the last 12 months. Announcement • Jun 02
Prominence Energy NL (ASX:PRM) signed a binding agreement to acquire 20% stake in Patriot Hydrogen Pty Ltd. Prominence Energy NL (ASX:PRM) signed a binding agreement to acquire 20% stake in Patriot Hydrogen Pty Ltd on May 31, 2021. The consideration will be paid as 25 million PRM shares, AUD 0.25 million, and 3 million PRMOB options. In a related transaction, Prominence Energy has raised AUD 3.2 million for facilitate the Bowsprit drilling program and investment in Patriot Hydrogen. The transaction is subject to due diligence and PRM shareholder approval. Announcement • Mar 15
Prominence Energy Nl Announces Bowsprit Project Lease Extension Prominence Energy NL announced the Company has an agreement with the Department of Mineral Resources of the State of Louisiana USA, to extend Leases SL21754 and SL21787 by 12 months until 14 March 2022, to facilitate the intended drilling of the Bowsprit Project. In concurrence with this Lease extension period, Pinnacle Exploration and Prominence Energy NL have executed a letter agreement to extend the completion date of the buy-out agreement up to 14 March 2022, with completion of the buy-out to occur prior to drilling. The Bowsprit leases SL21754 & SL21787 are located approximately 70km southeast of New Orleans in approximately 3m of water. Bowsprit is assessed to contain an undeveloped conventional Miocene aged oil sand at a depth of approximately 7,400ft (2,255m) that is located above a deeper, 9,500ft gas field that was developed in 1960s by Shell. Consequently, the Bowsprit field contains 14 vertical well penetrations and has demonstrated producible oil from an upper Miocene sand. The 30ft thick oil sand was flowed successfully in 1960s from four wells and produced approximately 75,000 bbls of oil, but full field development was not practical with the vertical well technology of the time. PRM plans to drill a vertical pilot hole to evaluate the prospective underlying Middle Miocene exploration targets and then pull back and deviate the well to place a horizontal well between former production wells in the proven (flowed) Upper Miocene Sand. The field will be rapidly placed on production either by low cost tie-back to a near-by facility for early cashflow and/or, if the Middle Miocene reservoir (prospective resources) are present and the accumulation is sizable, via a dedicated new unmanned production facility with additional development drilling. Announcement • Oct 13
Prominence Energy NL has completed a Follow-on Equity Offering in the amount of AUD 1.203896 million. Prominence Energy NL has completed a Follow-on Equity Offering in the amount of AUD 1.203896 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 240,779,173
Price\Range: AUD 0.005
Discount Per Security: AUD 0.0003
Transaction Features: Rights Offering Announcement • Aug 19
Prominence Energy NL announced that it has received AUD 0.15 million in funding On August 12, 2020, Prominence Energy NL (ASX:PRM) closed the transaction. Announcement • Jul 31
Prominence Energy NL announced that it expects to receive AUD 0.15 million in funding Prominence Energy NL (ASX:PRM) announced a private placement of 30,000,000 shares at a price of AUD 0.005 per share for gross proceeds of AUD 150,000 on July 31, 2020. The company will also issue 15,000,0000 options being one option for every two shares. The options will have an exercise price of AUD 0.002 per share and will expire on September 1, 2023. The issue of the options is subject to shareholder approval at the extra ordinary general meeting. The securities will be issued on August 6, 2020. Announcement • Jul 17
Prominence Energy NL announced that it has received AUD 0.25 million in funding from Bellarine Gold Pty Ltd., Fast Lane Australia Pty Ltd, GTT Ventures Pty Ltd On February 27, 2020, Prominence Energy NL (ASX:PRM) closed the transaction. 
