ABN 38 112 566 499
21st August 2015
Ms Frieda Orr
Adviser, Listing Compliance (Perth) ASX Compliance Pty Limited
Level 40, Central Park
152-158 St George Terrace
Perth WA 6000
Dear Frieda,
Re: ASX Price Query
With reference to your letter dated 21 August 2015 and with specific reference to your queries contained therein, we advise as follows:
1. The Company is not aware of any information concerning it that has not been announced which, if known, could be an explanation for recent trading in the securities of the Company.
2. Not applicable.
3. The Company does not have any other explanation for the price change in the securities of the Company.
The company notes all its recent ASX announcements, including: (a) the recent appointment of Mr Brad Lingo as Managing Director;
(b) the recent acquisition of shares by Mr Brad Lingo as outlined in the announced
Appendix 3Y lodgments; and
(c) recent investor presentation released to the ASX which was the first company update in approximately 18 months. After releasing the investor presentation, the presentation was made to a range of Australian Institutional Investors and brokerage houses on a roadshow last week.
4. The Company is in compliance with the listing rules and, in particular, listing rule
3.1. Yours faithfully,
David Franks
Company Secretary
ELK PETROLEUM LIMITED
Suite 4, Level 9
341 George Street
Sydney NSW 2000
Tel +61 2 9299 9690
21 August 2015
Mr David Franks
Elk Petroleum Limited
Suite 4, Level 9, 341 George Street, SYDNEY NSW 2000
By email: [email protected]
Dear David,
ELK PETROLEUM LIMITED ("ENTITY"): ASX PRICE QUERY
We have noted a change in the price of the Entity's securities from a close of $0.094 on 20 August 2015 to an intraday high at the time of writing of $0.12 today, 21 August 2015.
In light of the price change, ASX asks you to respond separately to each of the following questions:
1. Is the Entity aware of any information concerning it that has not been announced to the market which, if known by some in the market, could explain the recent trading in its securities?
2. If the answer to question 1 is "yes":
a) Is the Entity relying on Listing Rule 3.1A not to announce that information under Listing Rule 3.1?
Please note that the recent trading in the Entity's securities would suggest to ASX that such information may have ceased to be confidential and therefore the Entity may no longer be able to rely on Listing Rule 3.1A. Accordingly, if the answer to this question is "yes", you need to contact us immediately to discuss the situation.
b) Can an announcement be made immediately?
Please note, if the answer to this question is "no", you need to contact us immediately to discuss requesting a trading halt (see below).
c) If an announcement cannot be made immediately, why not and when is it expected that an announcemant will be made?
3. If the answer to question 1 is "no", is there any other explanation that the Entity may have for the recent trading in its securities?
4. Please confirm that the Entity is in compliance with the Listing Rules and, in particular, Listing Rule 3.1.
When and where to send your response
This request is made under, and in accordance with, Listing Rule 18.7. Your response is required as soon as reasonably possible and, in any event, by not later than 11.30am AWST today, 21 August 2015. If we do not have your response by then, ASX will have no choice but to consider suspending trading in the Entity's securities under Listing Rule 17.3.
ASX Compliance
Pty Limited
ABN 26 087 780 489
Level 40, Central Park,
152-158 St Georges Terrace
Perth WA 6000
www.asx.com.au
Customer service 13 12 79
T 61 8 9224 0052
E [email protected]
You should note that if the information requested by this letter is information required to be given to ASX under Listing Rule 3.1 and it does not fall within the exceptions mentioned in Listing Rule 3.1A, the Entity's obligation is to disclose the information "immediately". This may require the information to be disclosed before the deadline set out in the previous paragraph.
ASX reserves the right to release a copy of this letter and your response on the ASX Market Announcements Platform under Listing Rule 18.7A. Accordingly, your response should be in a form suitable for release to the market.
Your response should be sent to me by e-mail at [email protected] and [email protected]. It should notbe sent directly to the ASX Market Announcements Office. This is to allow me to review your response to confirm that it is in a form appropriate for release to the market, before it is published on the ASX Market Announcements Platform.
Listing Rule 3.1
Listing Rule 3.1 requires a listed entity to give ASX immediately any information concerning it that a reasonable person would expect to have a material effect on the price or value of the entity's securities. Exceptions to this requirement are set out in Listing Rule 3.1A.
The obligation of the Entity to disclose information under Listing Rules 3.1 and 3.1A is not confined to, nor is it necessarily satisfied by, answering the questions set out in this letter.
In responding to this letter, you should have regard to the Entity's obligations under Listing Rules 3.1 and 3.1A and also to Guidance Note 8 Continuous Disclosure: Listing Rules 3.1 - 3.1B.
Trading halt
If you are unable to respond to this letter by the time specified above, or if the answer to question 1 is "yes" and an announcement cannot be made immediately, you should discuss with us whether it is appropriate to request a trading halt in the Entity's securities under Listing Rule 17.1.
If you wish a trading halt, you must tell us:
the reasons for the trading halt;
how long you want the trading halt to last;
the event you expect to happen that will end the trading halt;
that you are not aware of any reason why the trading halt should not be granted; and
any other information necessary to inform the market about the trading halt, or that we ask for.
We may require the request for a trading halt to be in writing. The trading halt cannot extend past the commencement of normal trading on the second day after the day on which it is granted.
You can find further information about trading halts in Guidance Note 16 Trading Halts & Voluntary Suspensions. If you have any queries or concerns about any of the above, please contact me immediately.
Yours sincerely,
[Sent electronically without signature]
Frieda Orr
Adviser, Listings Compliance (Perth)
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