Adelaide Energy Limited
News
Beach Energy Limited (ASX:BPT) (PINK:BEPTF) announced on Monday, 7 November 2011, an unconditional, on-market, cash offer of 20 cents per share ("Offer") for all of the issued and outstanding ordinary shares of Adelaide Energy Limited (ASX: ADE, "Adelaide Energy") it did not own. On Thursday, 10 November 2011, Beach gained majority control of Adelaide Energy and has since increased its relevant interest in Adelaide Energy to 71.46 percent.
Beach Energy Limited (ASX:BPT) (PINK:BEPTF) announced on Monday, 7 November 2011, an unconditional, on-market, cash offer of 20 cents per share for all of the issued and outstanding ordinary shares of Adelaide Energy Limited (ASX:ADE) it did not own. On Thursday, 10 November 2011, Beach gained majority control of Adelaide Energy and has since increased its relevant interest in Adelaide Energy to 65.53 percent.
Beach Energy Limited (ASX:BPT) (PINK:BEPTF) has requested that Adelaide Energy Limited (ASX:ADE) call a general meeting, under section 249D of the Corporations Act, 2001, at which it is expected that Adelaide Energy shareholders will remove all of the Adelaide Energy board members.
Beach Energy Limited (ASX:BPT) (PINK:BEPTF) advises it has increased its relevant interest in Adelaide Energy Limited (ASX:ADE) to 60.93%, as a result of continued on-market acceptances by Adelaide Energy shareholders.
Beach Energy Limited (ASX:BPT) (PINK:BEPTF) achieves its primary goal of majority control in its takeover offer for Adelaide Energy Limited (ASX:ADE) and now has a relevant interest of 55.31%.
Beach Energy Limited (ASX:BPT) (PINK:BEPTF) has increased its relevant interest in Adelaide Energy to 48.36%, as a result of strong acceptances by Adelaide Energy Limited (ASX:ADE) shareholders of the Beach takeover offer.
Beach Energy Ltd (ASX:BPT) (PINK:BEPTF) announced an unconditional on-market cash offer of 20 cents per share ("Offer") for all of the issued and outstanding ordinary shares of Adelaide Energy Limited (ASX:ADE) ("Adelaide Energy") it did not own. Prior to the offer Beach had a relevant interest in the ordinary shares of Adelaide Energy of 19.95 percent, and at the close of trade today had increased its relevant interest to 44.23 percent.
Beach Energy Ltd (ASX:BPT) (PINK:BEPTF) ("Beach") announces an unconditional on-market cash offer of 20 cents per share ("Offer") for all of the issued and outstanding ordinary shares of Adelaide Energy Ltd (ASX:ADE) ("Adelaide Energy") that it does not already own. Beach currently owns 19.95% of Adelaide Energy.
Austin Exploration Limited (ASX:AKK) Commences Preparations for Oil Drilling at Cooper Basin Project
Austin Exploration Limited (ASX:AKK) is pleased to inform shareholders that preparations are underway for the start of the oil drilling program on the highly-prospective Cooper Basin PEL 105 licence area in South Australia.
Beach Energy Limited (ASX:BPT) (PINK:BEPTF) advises it has secured two Ensign Australia Pty Ltd ("Ensign") rigs, Ensign#65 and Ensign#16, to drill both horizontal and vertical wells targeting its unconventional gas play in the Nappamerri Trough of the Cooper Basin. From recent drilling results, it is clear that the target zone in PEL 218 (Beach 90%) goes beyond shale and incorporates other lithologies that are also gas saturated. Beach believes, that in addition to the substantial shale gas potential, it is now dealing with an unconventional basin centred gas play.
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