BOUNTY OIL & GAS NL (ASX: BUY) has announced the release of an Options Prospectus, detailing the offer of up to 632,205,885 new options as part of its ongoing recapitalisation efforts. Bounty Oil & Gas NL is an Australian oil and gas exploration and production company, primarily focused on the acquisition, exploration, development, and production of onshore and offshore hydrocarbon assets. The prospectus, lodged with ASIC on 5 June 2026, facilitates the issuance of these new options, which are intended to be eligible for quotation and trading on the ASX.
The new options are being issued without monetary consideration to several key parties involved in the company’s recent financial restructuring. These include 392,156,863 options allocated to Placement Participants, 210,735,295 to Lead Manager Oakley Capital Partners Pty Limited, 3,823,530 to Noteholders, and 25,490,197 to Loan Noteholders. Each New Option has an exercise price of $0.01 and an expiry date of four years from its issuance. This options offer follows shareholder approval obtained during a General Meeting on 18 May 2026, which also covered a 1-for-30 share consolidation, a $4.5 million capital raising placement, and various debt conversions.
While no direct funds will be raised from the initial offer of these options, the full exercise of all 632,205,885 New Options would result in aggregate proceeds of approximately $6,322,059 for Bounty Oil & Gas NL. The company has highlighted that the New Options are to be considered “highly speculative,” cautioning investors to thoroughly review the prospectus and seek independent professional advice regarding their financial objectives, situation, and needs before deciding to subscribe. The company will apply for Official Quotation of these new options on the ASX.
