Welcome

Azonto Petroleum  (ASX:APY) is a company focussed on finding and developing new projects.

 

1st MAY 2017 - AZONTO TO ACQUIRE CALIMA ENERGY LIMITED

Azonto is pleased to announce it has entered into a Farm-In Agreement (Farm-In Agreement) in relation to oil and gas licenses prospective for the Montney Formation in British Columbia, Canada (Montney Project).

In conjunction with Azonto's entry into the Farm-In Agreement, Azonto has also entered into a binding term sheet (Acquisition Agreement) to acquire Calima Energy Ltd (Calima) from Havoc Partners LLP (Havoc) (Calima Acquisition and, together with the Farm-In Agreement, the Proposed Transaction).

The key terms of the Proposed Transactions are set out in Schedule 1 of the Announcement.

Highlights

- Azonto has entered into a conditional Farm-In Agreement giving it the right to acquire a working interest of up to 55% in the Montney Project and operatorship of the Project.

- Azonto to acquire Calima, which holds interests in petroleum permits in Saharawi Arab Democratic Republic and passive minority interests in TMK Montney Limited and Bahari Holding Company Limited.

- Azonto to undertake Capital Raising to raise between $2.25 million and $4.5 million by way of a prospectus offer.

- Azonto to reconstitute its Board and undertake a 1 for 3 consolidation of its share capital (Consolidation).

- Alan Stein and Jon Taylor to join the Azonto Board and management team.

- Azonto to change its name to Calima Energy Limited

 

For full details, please see News Release 'Azonto Re-enters Oil and Gas Market' in the 'News & Media' section of this website.

 

Read more about us

 

Proactive Investors Profile Pages

Australian Investors

 

 

Our Operations

15.05.2017 Azonto to be Renamed - Calima Energy Investor Presentation and Appendices to the Investor Presentation are now available.

01.05.2017 AZONTO REFOCUSED ON OIL AND GAS

To acquire up to 55% of MONTNEY PROJECT and 100% of CALIMA ENERGY.

Appointment of highly credentialed Board Members and Management Team.

For further details, please see the latest News Release in the 'News & Media' section of the website or visit ASX website www.asx.com.au/asx/share-price-research/company/APY

 

Explore our operations

Investors

Quarterly Cashflow Report March 2017  Download PDF
View our Investors centre