Effective 1 March 2016, Drillsearch Energy Limited is a wholly owned subsidiary of Beach Energy Limited. For latest information regarding the combined operations, please visit Beach’s web site at www.beachenergy.com.au. Please note the existing Drillsearch web site will close in due course.

On 18 February 2016, the Federal Court of Australia approved the Scheme of Arrangement to reflect Drillsearch’s all-scrip merger with Beach Energy Limited (ASX: BPT). The court approval follows overwhelming support for the merger by Drillsearch shareholders at the Scheme Meeting held on 27 January 2016.

Drillsearch Chairman Jim McKerlie said: “On behalf of the Board, I’d like to thank Drillsearch shareholders for their support throughout the company’s journey from a junior explorer to one of Australia’s biggest onshore oil producers.

“This transaction allows Drillsearch shareholders the opportunity to participate in a bigger organisation, well positioned for future growth.”

Drillsearch and Beach are working to complete implementation of the merger as soon as practicable. Drillsearch expects the implementation date to be 1 March 2016, at which point Drillsearch will be a wholly-owned subsidiary of Beach. It is expected that Drillsearch will apply to be removed from the official list of the ASX on the implementation date.

SHAREHOLDER INFORMATION LINE

Phone
1300 889 528
+61 2 9098 9203
drillsearch@investorinfo.net.au

SHAREHOLDER INFO

LATEST MERGER NEWS

18 February 2016
Court Approves Merger with Beach

27 January 2016
Scheme Meeting Presentation & Outcome

16 December 2015
Scheme Booklet

23 October 2015
Merger announcement & Presentation

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MERGER DOCUMENTS

27 January 2016
Scheme Meeting Presentation & Outcome

16 December 2015
Scheme Booklet
Notice of Scheme Meeting and sample Proxy Form

23 October 2015
Recommended Merger of Beach & Drillsearch
ASX Announcement and Presentation

FAQS

  1. What is happening?
  2. How much of the Merged Entity will Drillsearch shareholders own?
  3. What will I receive?
  4. Will I have to pay brokerage or stamp duty?
  5. Can I sell my shares now?
  6. What options do I have?

KEY DATES

16 Dec 2015 – Scheme Booklet released
27 Jan 2016 – Scheme Meeting
18 Feb 2016 – Second Court Date & Scheme Effective Date
25 Feb 2016 – Record Date
1 Mar 2016 – Implementation Date

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View all Key Dates