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HIGH PEAK ROYALTIES LIMITED — Capital/Financing Update 2017
Mar 7, 2017
65070_rns_2017-03-07_f3aaab40-c81c-4054-93a5-1d9f76e76e1c.pdf
Capital/Financing Update
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8 March 2017
Australian Securities Exchange Companies Announcements Office
Sale of Assets
High Peak Royalties Limited (ASX. HPR ) is pleased to advise it has sold two assets for cash.
The sale of both of these assets was made at a profit and provided the opportunity to strengthen the company’s cash position.
These transactions were:
1. The sale of 5,630,776 shares in Royalco Resources Limited (ASX.RCO) in return for proceeds of $1,140,232 which was at a price higher than the acquisition price, also represented a premium to the current Fitzroy River Corporation Limited (ASX.FZR) takeover offer for RCO;
2. Sale of the 1.3% royalty interest over PEL 512 which was acquired by the company in 2013 for $80,394. The company has sold this asset for $100,000 representing a profit of 24% above the book value .
Total cash inflows from these transactions represents over $1.24m in additional cash to the company.
HPR continues to review and acquire royalties with a focus on balancing the portfolio of high upside royalties that will be further cash flow accretive to the Company.
For further information please contact:
Jarrod White Chief Financial Officer | Company Secretary Ph: +61 2 8296 0011 Email: [email protected]
High Peak Royalties Limited (ASX:HPR) – ABN 79 118 065 704 Suite 305 Level 3, 35 Lime Street, Sydney NSW 2000 +61 (0)2 8296 0000 | www.highpeak.com.au
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About High Peak Royalties:
High Peak Royalties is Australia's leading oil and gas royalties company, with exposure to 23 royalties in Australia, and the United States. High Peak Royalties’ portfolio covers production, development and exploration projects and features high quality project operators, including some of the world’s leading oil and gas companies.
The company’s portfolio includes:
| Permit / Location | Royalty Interest(%) | Operated By |
|---|---|---|
| PL 171 and ATP 574P | 2.50 | Queensland Gas/BG Group/Shell |
| ATP 299P | ||
| Petroleum Leases: PL29, PL38, PL39, PL52, PL57,PL95, PL169, PL170, PL293, PL294, PL295 and | 3.6/4.0 | Santos |
| PL298 | ||
| Peat Gas Field(PL101) | 2.13 | Origin Energy |
| Surprise Oil Field(PL6) | 1.00 | Central Petroleum |
| Longtom Gas Field(VIC/L29 and VIC/P54) | 0.30 | Seven GroupHoldings |
| WA-314-P | 0.10 | Karoon Gas |
| WA-315-P | 0.10 | ConocoPhillips |
| EP(A)111,EP115,EP(A)120 and EP(A)124 | 1.00 | Central Petroleum |
| EP112,EP115NM and EP125 | 1.00 | Santos |
| WA-482-P | 0.20 | Apache Corporation |
| WA-EP468 | 2.00 | Paltar Petroleum |
| EP156 and EP(A)155 | 2.00 | Mosman Oil and Gas |
| United States (East Texas, Permian and TexasGulf Coast Basins) | 0.20 to 0.40 | Sabine Oil and Gas, PioneerNatural Resources andWagner Oil Company |
| United States (East Texas) | 1.00 | Silver Tusk and New CenturyOperating |
| Weeks Petroleum Royalty (Gippsland Basin) | ||
| indirect interest via 10.68% shareholding in | 0.005 | ExxonMobil |
| Royalco Resources(ASX: RCO) |
High Peak Royalties Limited (ASX:HPR) – ABN 79 118 065 704 Suite 305 Level 3, 35 Lime Street, Sydney NSW 2000 +61 (0)2 8296 0000 | www.highpeak.com.au