Key Developments: Drillsearch Energy Ltd (DLS.AX)

DLS.AX on Australia Stock Exchange

1.54AUD
23 Jul 2014
Price Change (% chg)

$-0.01 (-0.64%)
Prev Close
$1.55
Open
$1.55
Day's High
$1.56
Day's Low
$1.53
Volume
1,514,936
Avg. Vol
1,602,080
52-wk High
$1.74
52-wk Low
$1.10

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Latest Key Developments (Source: Significant Developments)

Ambassador Oil & Gas Ltd announces ownership interest of Drillsearch Energy Limited
Monday, 16 Jun 2014 07:31pm EDT 

Ambassador Oil & Gas Ltd:Says Drillsearch Energy Limited holds 74,809,238 ordinary shares representing 52.66 pct of voting power.Drillsearch Energy Limited held 28,259,238 ordinary shares representing 19.9 pct of the total voting power.  Full Article

Drillsearch Energy Ltd announces increased offer for Ambassador Oil and Gas Ltd
Sunday, 15 Jun 2014 08:03pm EDT 

Drillsearch Energy Ltd:Increases offer price to one Drillsearch share for every 5.4 Ambassador shares plus A$0.05 in cash per Ambassador share.Revised offer represents a price of A$0.338 per Ambassador share based on Drillsearch's closing share price of A$1.555 on June 13.Ambassador's board recommends that Ambassador shareholders accept offer in the absence of a superior offer.Offer is now unconditional with accelerated payment terms, Ambassador shareholders will receive their offer consideration within 10 business days of acceptance.  Full Article

Drillsearch Energy Ltd announces issue of shares
Friday, 13 Jun 2014 02:12am EDT 

Drillsearch Energy Ltd:Issued 5,233,177 fully paid ordinary shares issued pursuant to the share purchase deeds dated May 28 between Drillsearch and a number of shareholders of Ambassador Oil and Gas Limited.Issued up to a maximum of 21,073,936 fully paid ordinary shares to be issued under the takeover bid by its subsidiary, Drillsearch (Central) Pty Limited for all the ordinary shares in Ambassador.Fully paid ordinary shares will rank equally with the existing fully paid ordinary shares in Drillsearch from the date of allotment.  Full Article

Drillsearch Energy Ltd announces completion of purchase of shares in Ambassador Oil And Gas Ltd
Wednesday, 11 Jun 2014 10:09pm EDT 

Drillsearch Energy Ltd:Says it completed the acquisition of a total of 28,259,238 fully paid ordinary shares in Ambassador Oil and Gas Ltd.  Full Article

recommended takeover offer of Ambassador Oil and Gas Limited by Drillsearch Energy Ltd
Tuesday, 27 May 2014 07:31pm EDT 

Drillsearch Energy Ltd and Ambassador Oil and Gas Limited:Says they have entered into a bid implementation agreement under which Drillsearch will make an off-market takeover offer, via its subsidiary Drillsearch (Central) Pty Limited, for all of the ordinary shares in Ambassador that it does not already have a relevant interest in.Directors of Ambassador have unanimously resolved to recommend that shareholders accept the Offer, in the absence of a superior proposal.Ambassador shareholders will be offered one Drillsearch share for every 5.4 Ambassador shares.Drillsearch has acquired a relevant interest of 19.9% in Ambassador.  Full Article

Drillsearch Energy Ltd and QGC agree new terms over Cooper Basin acreage
Sunday, 9 Mar 2014 06:29pm EDT 

Drillsearch Energy Ltd:Signs binding term sheet with QGC Pty Limited (QGC) over new terms covering their ATP 940P Cooper Basin Shale and Tight Gas Joint Venture in central Australia.Drillsearch owns 40 pct. of ATP 940P and is operator.QGC owns remaining 60 pct.Under original agreement announced in July 2011, QGC committed to a three-stage exploration and pilot production appraisal program of six wells to acquire a 60 pct. interest in ATP 940P.QGC also agreed to fund $90 million of the first $100 million of that program.parties have agreed to amend the terms of the joint venture and farm-in agreements to include.Consolidation of three stages in initial agreement to single stage, and removal of QGC's associated withdrawal rights, thereby bringing forward remainder of QGC's carry of the initial $100 million expenditure.Expansion and extension of initial agreed farm-in work program from six wells to a commitment to a 10-well program with potential for further acceleration.Drillsearch to remain as Operator of ATP 940P until the end of current permit term in Nov. 2015.QGC will then have option to assume operatorship.  Full Article

Drillsearch Energy Ltd does not declare dividend
Wednesday, 19 Feb 2014 02:07pm EST 

Drillsearch Energy Ltd:Says no dividend has been declared for the half year ending Dec. 31, 2013.  Full Article

Drillsearch Energy Ltd Issues New Shares
Wednesday, 20 Nov 2013 11:27pm EST 

Drillsearch Energy Ltd announced that it has issued 2,000,000 fully paid ordinary shares following the exercise of certain options, at the price of AUD 0.7 per option for 2,000,000 options, on November 20, 2013.  Full Article

Drillsearch Energy Ltd Announces USD25 Million Upsizing Of Previously Issued USD100 Million Convertible Bonds
Wednesday, 11 Sep 2013 07:00am EDT 

Drillsearch Energy Limited announced that the USD25 million upsizing of the previously issued USD100 million senior unsecured, guaranteed convertible bonds due 1 September 2018 (Convertible Bonds). The net proceeds of the upsizing will be used to partially fund capital expenditure requirements over the next 12-24 months and for general corporate purposes.  Full Article

Drillsearch Energy Ltd Issues FY 2014 Production Guidance-Conference Call
Thursday, 29 Aug 2013 01:00am EDT 

Drillsearch Energy Ltd announced that it releasing for the first time production guidance for fiscal 2014. Guidance for Fiscal 2014 is 2.3 million to 2.5 million BOE.  Full Article

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