Australia's Bounty Oil & Gas falls on discounted placement

Bounty Oil and Gas NL

22/09/2026 06:17

** Shares of Bounty Oil & Gas BUY.AX fall as much as 21.1% to A$0.015, their lowest since July 3
** Stock logs largest intraday pct loss since June 15
** Oil and gas explorer to raise A$3.5 million ($2.49 million) through placement at an issue price of A$0.012 per share, representing a 36.8% discount, according to Reuters' calculations
** Co also enters into a binding share sale agreement to acquire all of the issued units in PetroQuest Liberia Deep Water
** Co to pay A$1.5 million in cash, others 
** YTD, stock down 80.6%

($1 = 1.4073 Australian dollars)

   

 (Reporting by Tejas Harish in Bengaluru)
 ((tejas.harish@thomsonreuters.com;))