Up to 75,000,000 fully paid ordinary shares in the Company at an offer price of $0.20 per share to raise up to $15,000,000.
Market Capitalisation of $31,500,000 and an Enterprise Value of $16,500,000 post successful listing on the ASX.
Established in 2004, Finder is a successful and proven oil and gas explorer.
Since then, Finder has built a substantial acreage portfolio on the NWS, the most prolific hydrocarbon region in Australia and, more recently, Finder has expanded into the UK North Sea.
Finder has a strong reputation in the industry as a successful explorer with a proven track record in concluding value accretive transactions and finding hydrocarbons
Finder’s portfolio comprises interests in 10 permits or licences located in on the NWS and the UK North Sea:
The five permits on the NWS are exploration permits for petroleum and cover a total gross area of approximately 14,051 km2
The remaining five permits, located on the continental shelf of the Central and Northern North Sea, are made up of four Seaward Production (Innovate) licences and one Seaward Production (Promote) licence within the Phase A exploration period and comprises a total gross area of approximately 1,918 km2
Investment Highlights:
Strong macro-economic outlook for Oil: Brent crude oil currently at 7-year highs trading above $US90 with prosperous short-medium term outlook.
Extensive portfolio of assets: One of the largest acreage holders in the North West Shelf of Australia, with significant acreage position on trend from the Dorado oil field - the largest oil discovery made on the North West Shelf in the past 30 years.
Near term catalysts and immediate newsflow: Finder, along with joint venture partners Fugro and SapuraOMV, will spud the Kanga-1 exploration well in May 2022, targeting a best estimate prospective resource of 170 million barrels of oil (25.5 million barrels net to Finder).
Proven Board and Management including Mr Fred Wehr- who led the team that made the Dorado Discovery –resulting in JV partner CVN.ASX reaching >$500m market cap for their 20% stake in project.
Attractive valuation: Leveraged to exploration success with a $16.5m Enterprise Value
Finder to commence farmout activities for several permits, with the potential to add significant value to the company
