Friday, 16 January, 2009 - 11:28
Target Energy down on project withdrawal
Shares in Balcatta-based Target Energy have fallen as the company withdraws from two gas joint ventures in the United States which is expected to save them over $2.5 million.
Target Energy Limited engaged in the exploration, development, and production of oil and gas in the United States. It held a 50% interest in the Buffalo project covering approximately 13,000 acres located in south Texas; a 60% interest in the Fairway project covering approximately 1500 acres situated in west Texas; and a 35% interest in East Chalkley Oil project in Cameron Parish, Louisiana. The company also held oil and gas interests in Merta Gas Field in Wharton County, Texas; the Wolfberry play in western Texas as well as in St Martin Parish, Louisiana.
On 17 December 2019, Target Energy Limited was placed into liquidation by Order of the Federal Court of Australia. In February 2020 the company was delisted from the ASX.
Shares in Balcatta-based Target Energy have fallen as the company withdraws from two gas joint ventures in the United States which is expected to save them over $2.5 million.
West Perth-based companies Advance Energy and Odin Energy have joined forces to launch a cash and scrip takeover offer for oil explorer Target Energy.
West Perth-based Target Energy has pointed to suitor Advance Energy's operational viability as it advises shareholders to take no action on a takeover bid.
West Perth-based companies Advance Energy and Odin Energy, through joint venture company Blaze Asset, have extended and lifted its takeover offer for fellow oil and gas explorer Target Energy.
The low key takeover battle for Target Energy has ended with suitors Advance Energy and Odin Energy allowing the "overvalued" offer to lapse.
Perth-based investor group Investmet Limited has agreed to underwrite a complex recapitalisation of Swan Gold Mining, adding to a string of mining deals it has undertaken this year.
Major private investment player Wyllie Group has cut direct ties with mining dealmaker Michael Fotios’s investment syndicate, Investmet, a significant backer of junior resources companies and other speculative opportunities.
West Perth-based oil and gas explorer Target Energy has tapped its major shareholder Wyllie Group for $3 million through a convertible note issue, and is undertaking an entitlement offer to raise up to $2.9 million.
Lepidico is pleased to advise that the Renounceable Entitlements Offer announced on 3 September 2018 has been well supported by the Company’s shareholders and new investors and closed significantly oversubscribed.
Altura Mining has promoted current general operations manager Phil Robinson to the position of chief operating officer, as the company transitions from a project developer to miner.
Our board moves wrap includes Mark Syropoulo, Cathy Moises, Kate Stoney, Bradley Marwood, Peter Bewick, Henko Vos, Abby Siew, Grant Mooney, Les Davis, Doron Nevo, Michael Soucik, Dan Smith, Swee Chen Goh, Osagie Imasogie, Lisa Gray, Oludare Odumosu, Harry Karelis, Mara Gordon, and Stewart Washer.
There have been 38 insolvency appointments to Western-Australian-incorporated companies since December 12.
Twenty-eight companies have been delisted from the Australian Securities Exchange, as new national listing rules took effect today.
Name | Position | Year Started | Year Ended |
---|---|---|---|
Non-Executive Director
|
2017 | 2019 | |
Company Secretary
|
2017 | 2019 | |
Non-Executive Director
|
2019 | 2019 | |
Non-Executive Director, Joint Company Secretary
|
2019 | 2019 | |
Joint Company Secretary
|
2019 | 2019 | |
Managing Director
|
2006 | 2019 | |
Non-Executive Director
|
2010 | 2018 | |
Non-Executive Chair
|
2010 | 2017 | |
Company Secretary
|
2008 | 2017 | |
Business Development Manager
|
2013 | 2015 | |
Non-Executive Director
|
2010 | 2012 | |
Executive Director
|
2011 | ||
Non-Executive Director, Company Secretary
|
2006 | 2010 | |
Non-Executive Director
|
2009 | 2009 | |
Non-Executive Chair
|
2006 | 2009 |
Date | Company | Transaction Type | Total Value | |
---|---|---|---|---|
Target Energy | Placement | $3.78m | >> | |
Target Energy | Rights Issue | $5.00m | >> | |
Target Energy | Convertible notes issue | $1.80m | >> | |
Target Energy | Placement | $3.60m | >> |
Announced | Bidder | Target | Transaction Type | Total Value | |
---|---|---|---|---|---|
Fairway Energy | Target Energy | Asset acquisition | $10.02m | >> | |
Target Energy | Investmet | Acquisition | $3.60m | >> |