BOUNTY OIL & GAS NL (ASX: BUY) has lodged a prospectus for the offer of up to 632,205,885 new options, dated 5 June 2026. The options, which are exercisable at $0.01 each and carry an expiry date four years from their issue, are being issued for nil monetary consideration to eligible participants. Bounty Oil & Gas NL is an Australian oil and gas exploration and production company with interests in the Surat Basin in Queensland and the Onshore Carnarvon Basin in Western Australia. The prospectus aims to remove trading restrictions, enabling the new options to be traded on the ASX, although it will not directly raise funds for the company from the initial offer.
This significant options offer forms a core part of the company’s broader recapitalisation strategy, which received shareholder approval at a general meeting held on 18 May 2026. The comprehensive plan also involved a 1-for-30 share consolidation, a placement designed to raise up to $4 million (with an additional $500,000 expected in a second tranche subject to further approval), and the conversion of approximately $299,000 in convertible note and loan note debt into shares. The new options are being allocated to placement participants, the lead manager Oakley Capital Partners Pty Limited, convertible noteholders, and loan noteholders.
While the options themselves are issued for nil consideration, the company stands to receive aggregate proceeds of approximately $6,322,059 should all 632,205,885 new options be exercised in the future. BOUNTY OIL & GAS NL has applied for official quotation of these new options on the ASX, subject to meeting listing requirements. The company stresses that the new options are deemed “highly speculative,” advising all prospective investors to carefully consider the prospectus and consult their professional advisers before making any investment decisions, taking into account their individual financial objectives and risk tolerance.
