Board Change • May 20
No independent directors There are 3 new directors who have joined the board in the last 3 years. Of these new board members, none were independent directors. The company's board is composed of: 3 new directors. 1 experienced director. No highly experienced directors. No independent directors (3 non-independent directors). Senior Advisor to the Board Alan Stein is the most experienced director on the board, commencing their role in 2023. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Lack of experienced directors. Announcement • 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 Board Change • Dec 24
No independent directors There are 4 new directors who have joined the board in the last 3 years. Of these new board members, none were independent directors. The company's board is composed of: 4 new directors. No experienced directors. No highly experienced directors. No independent directors (3 non-independent directors). Senior Advisor to the Board Alan Stein is the most experienced director on the board, commencing their role in 2023. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Lack of experienced directors. Announcement • Oct 01
Condor Energy Limited, Annual General Meeting, Nov 25, 2025 Condor Energy Limited, Annual General Meeting, Nov 25, 2025. Announcement • 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 Announcement • 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 • Aug 08
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$16.2m market cap, or US$10.6m). New Risk • Jul 31
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: AU$15.0m (US$9.77m) 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 39% per year over the past 5 years. Revenue is less than US$1m. Market cap is less than US$10m (AU$15.0m market cap, or US$9.77m). Minor Risks Share price has been volatile over the past 3 months (16% average weekly change). Shareholders have been diluted in the past year (35% increase in shares outstanding). 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 (15% average weekly change). Announcement • 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 Announcement • 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). New Risk • Dec 05
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 18% 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 (18% average weekly change). Earnings have declined by 41% per year over the past 5 years. Shareholders have been substantially diluted in the past year (104% increase in shares outstanding). Revenue is less than US$1m. Market cap is less than US$10m (AU$8.87m market cap, or US$5.82m). Announcement • 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. Announcement • 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 (16% average weekly change). New Risk • Sep 10
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 (13% 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. Announcement • 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. Announcement • 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. Announcement • 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. 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. 