Bounty Oil & Gas NL (ASX: BOG) has announced the lodgement of an Options Prospectus, detailing offers for new options. The company, an Australian oil and gas explorer and producer, has interests in assets such as the Surat Basin and Naccowlah Block. Bounty Oil & Gas is offering up to 632,205,885 New Options, with the primary purpose of this Prospectus being to remove trading restrictions, thereby enabling Eligible Participants to trade these New Options on a listed public financial market. Investors are advised that the New Options offered should be considered highly speculative.
The New Options will be issued for nil monetary consideration to a range of Eligible Participants. This includes 392,156,863 New Options for Placement Participants, 210,735,295 for the Lead Manager, 3,823,530 for Noteholders, and 25,490,197 for Loan Noteholders. Each New Option is exercisable at $0.01 and carries an expiry date of four years from the date of issue. If all New Options are exercised, Bounty Oil & Gas expects to receive aggregate proceeds of approximately $6,322,059. This issuance is part of a broader recapitalisation effort that previously involved a share consolidation and a capital raising placement.
The indicative timetable for the offer shows the lodgement of the Prospectus with ASIC and ASX, and the opening date of the offers, occurred on Friday, 5 June 2026. The offers are slated to close at 5:00pm AEST on Wednesday, 10 June 2026, with the expected date of official quotation of the New Options set for Thursday, 11 June 2026. The offers are not underwritten, and no oversubscriptions will be accepted. While no funds will be raised directly from the offer itself, the Company’s capital structure will be significantly impacted by the increase in options on issue.
