IPO Watch
UPCOMING FLOATS: Who’s due to list on the boards of the Australian Securities Exchange and what they’re all about.
Perth Resources Limited
Proposed ASX code: PRD
Proposed listing date: 29 January 2013
Perth Resources was established in October 2012 as a petroleum exploration company seeking to acquire interests in prospective oil and gas acreage in the Perth and Canning Basins of Western Australia.
The company’s managing director David Archibald is the sole director and shareholder of
Backreef Oil that is a party to the White Hills Farm-in Agreement and the Roberts Range Option Agreement with Perth Resources.
Perth Resources is hoping to implement a strategy of developing as a highly disciplined explorer and ultimately, subject to successful drilling results and the securing of sufficient funding, a producer of oil and natural gas.
In November 2012, Perth Resources entered into a Conditional Offer Letter to earn a 20 per cent non-operating interest in the shallow rights of EP 454 (the EP 454 project) (with an option to earn a 20 per cent non-operating interest in the deep rights of EP 454 project) and obtained the contractual rights to a 24 per cent non-operating interest in the White Hills Block (4 graticular blocks) of exploration permit application EPA 8/06-7 (the White Hills project).
The company also has an option to earn a 49 per cent non-operating interest in the Roberts Range Block (7 graticular blocks) of exploration permit application EPA 7/06-7 (the Roberts Range project).
Perth Resources is seeking to raise a minimum of $3.2 million to fund a two-year work program on the EP 454 project, fund two-year corporate administration costs, pay the costs of the Prospectus process and provide working capital which may be used as initial expenditure on the White Hills Project (if granted) and to review and assess new oil and gas opportunities.
Source: Australian Securites Exchange
Recent Listings
Cott Oil and Gas Limited
ASX code: CMT
Listing date: 4 January 2013
Day one opening price: 21.5 cents
Day one closing price: 20.5 cents
Cott Oil and Gas was incorporated on 22 August 2012.
In September 2012, it acquired 100 per cent of the issued capital of Cottesloe Oil and Gas Pty Ltd, which had been incorporated in 2009 as a petroleum exploration company seeking to acquire prospective oil and gas acreage in the Westralian Superbasin, Papua New Guinea and Indonesia.
The intention of Cott Oil and Gas is to build a quality portfolio of exploration opportunities, and deliver multi-trillion cubic feet (Tcf) and multi-million barrel (MMbbl) drilling opportunities.
The company plans to achieve this by using its regional expertise and database and focusing on the opportunistic acquisition of undiscovered and underdeveloped resources, and by developing joint ventures with industry partners through its technical expertise and high level industry contacts.
Cott Oil and Gas says it aims to generate value through production of hydrocarbons from discoveries, trade sale of discoveries, sale of exploration opportunities and through its commercial and technical knowledge of adding value in the oil and gas business.
MGT Resources Limited
ASX code: MGS
Listing date: 9 January 2013
Day one opening price: 15 cents
Day one closing price: 10 cents
MGT Resources is a tin production and base/precious metal exploration company.
In April 2009, MGT acquired the majority interest in Xtreme Resources Ltd (now MGT Mining Ltd), a company with significant tin production and gold exploration assets
MGT has completed the stage 1 refurbishment of its Mt Veteran tin mill and is now in the process of planning the stage 2 mill capacity upgrade.
MGT has outlined its commitment to aggressively expand its tin resources and also continue to explore its gold prospects to add value to the company.
Disclaimer: The above information is not investment advice. The Roadhouse accepts no responsibility for
investments made from this information.