We are pleased to offer you this opportunity to participate in the offer of up to
233,333,333 Shares (on a post-Consolidation basis) at an issue price of $0.03 per
Share to raise up to $7,000,000 (before costs) (Offer). The Offer is subject to a
minimum subscription of $5,000,000. Eligible Shareholders will also receive a priority
entitlement to subscribe for up to 20,000,000 Shares under the Offer. Details of the
Offer are outlined in Section 6.
Hawkley Oil and Gas Limited (Hawkley, the Company, or HOG) is an Australian
public company listed on the Official List of the ASX (ASX: HOG). The Company
was incorporated on 10 August 2005 and was admitted to the Official List of ASX
on 2 May 2006, and was reinstated to Official Quotation of the ASX as Hawkley on
29 June 2010.
As announced on 25 October 2019, the Company has entered into a sale and
purchase agreement (Acquisition Agreement) with the Burke County Vendors, a
group of American companies and individuals to acquire operatorship and an
approximate 33% interest in an oil and gas project (Project) in Burke County,
North Dakota (Acquisition). Further details of the Acquisition Agreement entered
with the Burke County Vendors is set out in Section 12.1. An overview of the
Company and its Project is set out in Section 7.1.
The acquisition of the interest in the Project will constitute a significant change in
the nature and scale of the Company’s activities, and as such, the Company is
required by ASX to obtain Shareholder approval for the Acquisition and re-comply
with Chapters 1 and 2 of the ASX Listing Rules as though it were seeking initial
admission to the Official List of ASX. Please refer to Section 2.2 for further details.
The Company confirms that Shareholder approval for all Acquisition Resolutions,
including the change to the nature and scale of the Company’s activities was
received at the General Meeting held earlier today.
This Prospectus contains important information regarding the Offer, the financial
position, operations, management team and future plans of the Company; and
the proposed new Directors of the Company who have the skills and experience
to lead the Company forward following the Acquisition. The key risks associated
with an investment in the Company are set out in Section 9 and should be
considered by investors in detail.
We encourage you to read this Prospectus thoroughly and carefully before
making any investment decision and consult with your independent professional
adviser in connection with the Offer.
If you wish to apply for Shares, we encourage you to consider applying early. The
Directors reserve the right to close the Offer early once fully subscribed. We are
excited about the new direction offered by the acquisition of the Project from the
Burke County Vendors and the growth which we expect to be generated from it.
HAWKLEY OIL AND GAS LIMITED