share placement

Dear Shareholder
Invitation to Participate in the Bounty Share Purchase Plan
Bounty Oil & Gas NL (the “Company”) is pleased to extend an invitation to each Bounty
shareholder, irrespective of the number of shares held in the Company, to subscribe for up to
$4,930 worth of shares direct from the Company, free of all brokerage, commission and stamp duty,
under the Terms and Conditions of Bounty’s Share Purchase Plan (“SPP”) (a copy of which
accompanies this letter).
Three offers are available to Bounty shareholders, as indicated in the table below. Please note that
the maximum investment per shareholder is $4,930 (representing 34,000 shares at 14.5 cents per
share) and the minimum investment is $1,160 (representing 8,000 shares at 14.5 cents per
share).
Offer A $1,160
Offer B $2,900
Offer C $4,930
The plan will also enable shareholders with small shareholdings to increase those holdings into
more meaningful and financially viable parcels.
The right to participate in the offer of Bounty Shares under the SPP is available exclusively to
shareholders who are registered as holders of fully paid ordinary shares in the Company at 5.00pm
Western Standard Time (“WST”) on the record date of 26 February 2004 and whose registered
address is in Australia or in any other jurisdiction in which it is lawful for the Company to offer shares
under the SPP. The offer is non-renounceable.
The price for each Bounty Share issued under the SPP has been set at 14.5 cents which is
approximately 80% of the average market price, as defined in the Listing Rules of the Australian
Stock Exchange Limited, (the “ASX”) of existing fully paid ordinary shares in Bounty quoted on the
ASX during the 5 trading days immediately prior to the announcement of this offer.
The Company intends to place the number of shares not taken up under the SPP with third party
investors following completion of the SPP (“Placement”). Pursuant to an agreement with BBY,
(“Underwriter”) the Underwriter has agreed with the Company to underwrite the Placement. Under
the Placement, the shares will be issued at an issue price of 14.5 cents per share.
Funds raised from the issue of shares pursuant to the SPP will be used to supplement the cash
reserves of the company to assist in funding of production, development and exploration operations
and working capital.
Bounty Oil & Gas NL
KEY DATES AND FURTHER INFORMATION
The timetable for the issue of shares pursuant to the SPP is:
Announcement of the offer 26 February 2004
Record date to determine entitlements 5.00pm WST 26 February 2004
Dispatch of letters to Shareholders incorporating
the Terms and Conditions of the SPP
4 March 2004
Offer Opens 4 March 2004
Offer Closes 5.00pm WST 19 March 2004
Issue of shares under the SPP 26 March 2004
Quotation of shares on ASX 26 March 2004
These dates are indicative only. The Company may vary the dates and times of the offer
without notice. Accordingly shareholders are encouraged to submit their Entitlement and
Acceptance Form as early as possible.
A total of 13,750,000 new Bounty Shares (being approximately 15% of the existing issued capital of
the Company) are being offered under the SPP. In the event that applications for more than this
number of shares are received, the Directors will scale back the applications within an offer on a pro
rata basis. ASX has granted a waiver under Listing Rule 7.1 which effectively permits the Company
to issue to eligible shareholders under this offer without shareholder approval.
The number of shares issued under the Placement is likely to come within the Company’s capacity
to issue up to 15% of its capital. Accordingly, shareholder approval is not likely to be required for
the Placement to proceed.
On the day the Company announced the offer, shares in the Company traded on ASX in the price
range [20] cents to [23] cents. The market price of shares in the Company may rise and fall between
the date of this offer and the date that any shares are allocated to you as a result of your
acceptance of the offer. This means that the subscription price you pay for the shares may exceed
the market price of the shares at the date of allotment of the shares under this offer. The board
recommends that you obtain your own financial advice in relation to this offer and consider price
movements in shares in the Company prior to accepting this offer.
Shares to be issued under the SPP will be allotted within 5 business days of the Offer closing.
The Company will apply to the ASX for the shares issued pursuant to the SPP to be admitted to
quotation.
Any enquiries should be directed to the Company on (08) 9322 3244
Yours faithfully
Gary Steinepreis
Company Secretary