Bounty Oil & Gas launches recapitalisation plan with placement, note issues and debt conversion

Bounty Oil & Gas NL ( (AU:BUY) ) has shared an announcement.

Bounty Oil & Gas N.L. has unveiled a recapitalisation plan built around new convertible notes and loan notes, together with a proposed 30-for-1 share consolidation and an equity placement of up to $4 million at $0.0051 per post-consolidation share with free attaching options. The company also plans to convert $200,000 of debt owed to CQ Pastoral into equity, issue additional options on conversion of the notes, and grant shares and options to lead manager Oakley Capital, subject to shareholder approval at a meeting expected by the end of May 2026.

The fundraising and balance sheet restructuring are aimed at stabilising Bounty’s finances, addressing outstanding cash calls within the Naccowlah Joint Venture, and positioning the company to pursue new projects while it awaits a Federal Court decision on the future of its PEP 11 permit. Management reports constructive discussions with stakeholders and expresses confidence that the recapitalisation can deliver a commercial outcome for shareholders and improve the company’s flexibility in advancing its asset base.

The most recent analyst rating on (AU:BUY) stock is a Sell with a A$0.01 price target. To see the full list of analyst forecasts on Bounty Oil & Gas NL stock, see the AU:BUY Stock Forecast page.

More about Bounty Oil & Gas NL

Bounty Oil & Gas N.L. is an Australian oil and gas explorer and producer listed on the ASX, focused on upstream petroleum assets including interests such as the Naccowlah Joint Venture and the offshore permit PEP 11. The company is currently repositioning its portfolio and balance sheet as it evaluates new projects and seeks to resolve legacy funding and joint venture obligations.

Current Market Cap: A$3.12M

For detailed information about BUY stock, go to TipRanks’ Stock Analysis page.