Origin Energy has agreed to assign its interests in joint venture exploration permits in WA's Canning Basin, including the massive Rafael gas and condensate discovery to Buru Energy for no upfront payment. Origin will also pay Buru up to $4 million to fund a 3D seismic survey for its gas and condensate discovery Rafael 1.
Hancock Prospecting may have secured the lead it needs to edge out Strike Energy in the fight for Warrego after Mineral Resources sold its stake in the target.
John Poynton-chaired Strike Energy says it will not improve its scrip offer currently before undecided Warrego Energy investors, with the course of the takeover attempt still hanging in the balance.
Hancock Prospecting has extended the acceptance period for its Warrego Energy bid by 10 days as it trumpets the support of another major shareholder in the target.
Kerry Stokes-backed Beach Energy has reported a drop of more than 10 per cent in its estimated Perth Basin gas reserves after undertaking a drilling campaign at Waitsia.
Chris Ellison's Mineral Resources has said its 19.2 per cent stake in Warrego Energy is “strategic”, and claimed gas assets in the Perth Basin are now overpriced.
Chris Ellison-led Mineral Resources has increased its stake in Warrego Energy to 19.2 per cent boosting its capacity to determine the final outcome of the takeover battle.
Joint venture partners Strike Energy and Talon Energy's Walyering gas field development in the Perth Basin is one step closer to becoming operational after receiving its production license.
Warrego Energy bidders Hancock Prospecting and Strike Energy have traded blows over the takeover battle for the Perth Basin gas play after Strike's off-market bid opened.
The Norwest Energy board has recommended its shareholders reject Mineral Resources' takeover offer, claiming the $403 million bid was “opportunistically timed”.
UPDATED: Warrego Energy has taken the unusual step of publicly criticising the two bidders for the company while Mineral Resources has revealed a 16 per cent stake.
Gina Rinehart's Hancock Prospecting has launched what is effectively the seventh takeover bid for Warrego Energy in the space of two months, jacking up its offer price by 29 per cent.
Shares in Warrego Energy jumped late today on heavy trading with Chris Ellison's Mineral Resources believed to have joined the takeover battle for the Perth Basin gas play.
Gina Rinehart's Hancock Prospecting has lifted its stake in Perth Basin gas play Warrego Energy to 25.9 per cent as a stand-off looms with rival bidder Strike Energy.
Hancock Energy has revealed a cohort of Warrego shareholders pledging to support Gina Rinehart's $342 million cash offer for the business, hitting back at a scrip bid from Strike Energy.
The board of ASX-listed oil and gas company Norwest Energy will wait until the new year to cast its verdict on Chris Ellison's offer for the business amid fierce competition for Perth Basin assets.
John Poynton-chaired Strike Energy has lobbed another scrip takeover proposal for joint venture partner Warrego Energy, countering a $342 million cash offer from Hancock Energy currently on the table.
WA oil producer Triangle Energy has farmed out a 25 per cent stake in two onshore gas permits in the Perth Basin to Talon Energy in exchange for a $9.26 million pay day. The company believes the zones host significant gas resources and plans to unlock its potential through a trio of new exploration holes in 2024.
The board is set for Gina Rinehart's Hancock Energy to take control of Perth Basin desirable Warrego Energy after Kerry Stokes-backed Beach Energy declined to match a $342 million cash offer.
Strike Energy has muscled back in amid the fight for ownership of its joint venture partner Warrego, lifting its stake in the target to 19.9 per cent to become its biggest shareholder.
Gina Rinehart's Hancock Prospecting could help solve a looming WA gas shortage, pledging to boost Perth Basin investment as it becomes the third company chasing Warrego Energy.
Strike Energy boss Stuart Nicholls has implored joint venture partner Warrego Energy to reconsider a $246 million cash takeover from Beach Energy, flagging a potential change in development plans.
Warrego Energy has agreed to a takeover offer from Kerry Stokes-backed Beach Energy, bypassing a competing offer from its joint venture partner, the John Poynton-chaired Strike Energy.
Strike Energy shares slipped 10 per cent after the company announced a $30 million capital raising from institutional and sophisticated investors to progress projects.
Genesis Minerals has joined Strike Energy and APM Human Services International in announcing that convicted border cheat Nev Power will continue on its board of directors.
John Poynton-chaired Strike Energy has bought 3,500 hectares of farming land in the Three Springs Shire for a low carbon manufacturing precinct anchored by Project Haber.
A subsidiary of multinational conglomerate Koch Industries has been selected as Strike Energy's sole offtake partner for product from a $2.3 billion planned urea project near Geraldton.
Business leader John Poynton has detailed the challenging year he has endured, dissecting his role at Crown and the retention of Nev Power on the Strike Energy board.
An electric vehicle for underground mines and a geothermal development in the Mid West are among more than a dozen projects to have secured grants worth nearly $14 million.
