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AUSTEX OIL LIMITED (AOK)

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(updated at weekends)

Former (or subsequent) names

 

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Our website ranking of AOK: rating 5
(5 out of 5)
COMPANY WEBSITE:

 

REGISTRY:
Boardroom Pty Ltd, Level 12, 225 George Street, Sydney NSW 2000
Tel : +61 2 9290 9600 or 1300 737 760
Fax : +61 2 9279 0664 or 1300 653 459
RegistryWebsite RegistryEmail

Company details

Address: Level 5 126 Phillip Street Sydney NSW 2000 Australia
Tel:  61 2 9238 2363 Fax: 61 2 8808 7280

Date first listed: 08/01/2008
Company Secretary: Andrew Bursill
Sector: Energy
Industry Group: XEJ
Activities: The Company's chief activity is oil exploration in the USA
OFX Transferring Money Internationally to Free

Shareholders in this company should consider crystallising a capital loss in 2020/21 by selling their worthless shares, which they can achieve online by entering transaction details here. While this usually makes good economic sense, we recommend you seek professional advice before buying or selling securities, your accountant is probably the best person.

13/08/2020

delisted from the close of trading on Wednesday, 28 August 2019 pursuant to Listing rule 17.15.

28/08/2019

we understand this company failed to pay its annual listing fee on due date and ASX has accordingly removed it from the official list

28/08/2019

The company has not paid their annual listing fees in respect of the year ending 30 June 2020 but the securities are already suspended from official quotation.

22/08/2019

On 3 June 2019 (Houston time), Austex Oil Limited and its U.S. subsidiaries filed voluntary petitions for reorganisation under Chapter 11 of the U.S. Bankruptcy Code in the United States Bankruptcy Court for the Northern District of Oklahoma.

05/06/2019

The company's USA subsidiaries, International Energy Corporation and International Energy, have sold the oil and gas assets in Kay County Oklahoma to an independent USA based buyer SNR Oklahoma Operating, LLC. for a consideration of approximately US $14 million.

09/11/2018

Following a scheduled ASX internal system change affecting the Market Announcements Platform, it has been necessary to re-apply the "˜Suspend' session state. This announcement serves to re-confirm the securities of this entity remain suspended.

06/08/2018

The Company has continued to actively pursue discussions with third parties in relation to sale of the Snake River Leases in Kay County Oklahoma, USA. After undertaking a comprehensive sale program, the Company identified several bidders. No binding offer has been received yet. Pending the successful sale, the Company continues to operate the Snake River assets, which are currently operating on a cash flow positive basis. The civil action commenced by Weider in March 2017 alleging a breach of the redeemable preference share subscription agreement is continuing. No date has yet been set by the United States District Court for the Southern District of New York for the next hearing. No further redemption notices have been received by the company.

13/07/2018

The company received a purported redemption notice in relation to the redeemable convertible preference A shares and redeemable preference B shares from a shareholder in the amount of US$14,715,612.30 in relation to the RCPA shares and US$7,015,714.95 in relation to the RPB shares. The Company is seeking legal advice to confirm the validity of the Redemption Notice. This Redemption Notice is in addition to the previously announced put option notices received by the Company totalling approximately US$9.3 million. Whilst the Company is reviewing the validity of the Redemption Notice, progress is continuing in relation to the sale of the Company's assets.

28/03/2018

The company has received a further purported put option notice in relation to the redeemable preference B shares from a shareholder in the amount of US$915,000. The company is seeking legal advice to confirm the validity of the put notice. The Company has now received put option notices from all of the Redeemable Preference Shareholders totalling approximately US$9.3 million.

07/03/2018

The company has finalised the sale of the Company's Drumright Dome leases in Creek and Lincoln Counties in Oklahoma, USA for US$3.25 million before payment of commissions and other costs of sale. The proceeds from the sale will primarily be used to reduce outstanding liabilities in relation to the put option notices received by the Company. The company has also ommenced discussions with third parties in relation to the sale of its Snake River Leases in Kay County, Oklahoma, USA.

06/03/2018

The company has received a further two purported Put Option Notices in relation to the Redeemable Preference "˜B' shares from shareholders in the amounts of US$1.80 million and US$377,000. The Company is seeking legal advice to confirm the validity of the Put Notice. The company also remains in negotiations with the original Preference Shareholder in relation to their put notice lodged with the Company for US$6.22 million with a view to achieving an orderly reapyment of the amount owed under that notice.

01/03/2018

The securities of Austex Oil Limited will be suspended from quotation immediately, at the request of the Company and in accordance with listing rule 17.2, pending the release of an announcement regarding the receipt of a Put Option Notice.

19/02/2018

The suspension of trading in the securities of Austex Oil Limited will be lifted immediately, following receipt of an announcement regarding capital raising.

20/02/2012

AusTex Oil Limited requests a continuation of the suspension of the trading of the Company" ordinary shares from the ASX to continue until Monday 20 February 2012

17/02/2012

The securities of Austex Oil Limited (the "Company") will be suspended from quotation immediately, at the request of the Company, pending the release of an announcement

15/02/2012

the suspension of trading in the securities of Austex Oil Limited (the "Company") will be lifted immediately, following receipt of an announcement regarding capital raising

17/06/2011

the securities of Austex Oil Limited (the "Company") will be suspended from quotation immediately, at the request of the Company, pending the release of an announcement

15/06/2011

ASX Announcements (courtesy of ASX)

 

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    Directors' on-market share transactions (last 5)

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    Purchases Sales

    DATEDIRECTORNATURENUMBERPRICEAMOUNT
    07/12/2015Justin ClyneOn market50,000$0.050$2,500
    02/12/2015Justin ClyneOn market75,000$0.052$3,938
    02/12/2015Justin ClyneOn market20,000$0.056$1,120
    11/12/2014Michael StoneOn market191,572$0.112$21,427
    11/12/2014Nicholas StoneOn market191,572$0.112$21,427

    Click here for the last 20 transactions all companies

    Directors & Executives (current)

    NAMETITLEDATE OF APPT
    Russell KrauseNon Exec Chairman, Independent Director23/10/2012
    Richard AdreyManaging Director19/04/2006
    Andrew BursillCFO
    Nicholas StoneNon Exec Director19/11/2013
    Mark PatonNon Exec Director20/04/2017

    Date of first appointment, title may have changed.

    Directors & Executives (former)

    NAMETITLEDATE OF APPOINTMENTDATE OF RESIGNATION
    Justin ClyneNon Exec Director19/06/201420/04/2017
    Michael StoneChairman01/05/201405/04/2017
    David ClarkCFO01/10/200901/08/2015
    Daniel LanskeyNon Exec Director03/10/201119/06/2014
    Patricia PhilipNon Exec Director01/03/200619/06/2014
    Luis ViermaNon Exec Director01/09/201122/04/2014
    Daniel LanskeyNon Exec Director01/03/200601/02/2014
    Kwang HungDeputy Chairman15/04/201119/05/2013
    Justin ClyneNon Exec Director20/08/201203/12/2012
    Peter PowerNon Exec Chairman09/04/200731/05/2012

    Date of first appointment, title may have changed.