BASIN ENERGY LIMITED
ASX:BSNEnergyToday’s holders own 74.1% of what they think they own, once every option and right converts.
Share count grew 126% in 24 months; runway 2–4 quarters; options/rights overhang 35% of shares
BASIN ENERGY LIMITED's ordinary share count rose 125.5% between October 2024 and April 2026, its latest share-count filing, to 235M shares. In the past 24 months it completed 2 capital raises totalling A$2.4M, most recently a A$1.1M placement in April 2026. Options and rights on issue could convert into 82M new shares, equivalent to 35% of the current share count; none are in the money at the current share price. The nearest expiry is January 2028. The company reported 2 to 4 quarters of funding at the recent spend rate in its June 2026 quarterly cash report. No proposed securities issues (Appendix 3B) are currently pending.
Quick answers · 5
When did BSN last raise capital?
The last capital raise in Basin Energy's filings is Placement of $1.1M announced 24 Apr 2026, one of 2 cash raises in 24 months.
How much placement capacity does BSN have left?
About 4% of the 15% placement capacity left, about 96% used in 12 months (estimate). Under ASX Listing Rule 7.1 a company may place up to 15% of its shares in 12 months without shareholder approval.
How much cash does BSN have?
In its quarterly cash report for the quarter ended 30 June 2026, Basin Energy reported $1.1M of cash and estimated 4.8 quarters of funding available at its current rate of spending. That is the company's own estimate.
When do BSN's options expire?
Unexercised options and rights equal 35% of Basin Energy's shares on issue; the nearest expiry is Jan 2028.
How much has BSN's share count grown?
Basin Energy has 235.3M shares on issue as at 28 Oct 2026, up 125.5% over 24 months according to its Appendix 2A filings.
Shares on issue — last 2 years
Cash runway
Issuance timeline
Latest 5 filings (Appendix 2AThe form a company lodges to have new securities quoted on the ASX. It restates how many of each class are on issue. quoted issues, 3G unquoted, 3H cancellations)
| Date | Form | Security | On issue, per this filing | Source |
|---|---|---|---|---|
| 29 Apr 2026 | 2A · quoted issue | BSN : ORDINARY FULLY PAID | 235.3M | Appendix 2A |
| 24 Oct 2025 | 2A · quoted issue | BSN : ORDINARY FULLY PAID | 172.8M | Appendix 2A |
| 24 Oct 2025 | 2A · quoted issue | BSN : ORDINARY FULLY PAID | 159.6M | Appendix 2A |
| 24 Oct 2025 | 3G · unquoted | BSN : ORDINARY FULLY PAID | 141.1M | Appendix 3G |
| 24 Oct 2025 | 3G · unquoted | BSN : ORDINARY FULLY PAID | 141.1M | Appendix 3G |
Securities on issue over time
Ordinary shares and every option and rights class, month by month over two years. The top edge is the fully diluted count.
Capital raises
2 cash raises in the last 24 months · 1 in the last 12 months
Forward supply
Every dated event on record that could add securities to the register — option expiries to their stated dates and proposed issues over the next 18 months, on one timeline.
Placement capacity
How much stock a company can place without asking holders. Listing Rule 7.1 / 7.1ARule 7.1 lets a company issue up to 15% of its shares in 12 months without a shareholder vote. Rule 7.1A adds 10% for smaller companies whose holders approve it. allows 15% of ordinary securities in any 12 months, and every Appendix 3BNotice that a company proposes to issue new securities, such as a placement. The securities are not on issue until a later filing confirms it. states how much of it an issue uses.
Pending proposed issues
Options & convertible securities
- Price-triggered20.9M · 8.9% of sharesOptions and warrants — they convert when the share price clears their exercise price.
- Condition-triggered61.5M · 26.1% of sharesPerformance and incentive rights — they convert when a hurdle is met, not at a price, and can lapse to nothing.
Exercise price on record: 20.9M priced, 61.5M where the filing never states one. A security with no exercise price is never counted in the money — nothing is paid to convert it, so there is no price for it to be above.
Each figure is the filing’s own count of securities, not a share count — a 2A never states what one security converts into.
An exercise price is on record for only 25.3% of this supply, so what is in the money today is not a measurement — the tile above reads “—” for that reason. Of the priced supply, 0 is in the money at $0.019 today. No more priced supply until 3× today’s price, which takes it to 7.5M (3.2% of shares).
- Priced supply in the money at the price on the axis — the curve, and the only thing on it. Ten prices, sampled: between two of them the true figure lies between the two.
- 61.5M (74.7% of the supply above) states no exercise price at all. It cannot be called in or out of the money at any price, which is why it is hatched rather than plotted.
- 1.3M more carries an exercise price above ten times today’s — off the right of this axis, and in every total on this page.
| Code | Security | Type | Exercise price | Expiry | On issue | Source |
|---|---|---|---|---|---|---|
| BSNAO | Options | Price-triggered | $0.10 | 15 Jan 2028 | 4.6M | Filing |
| BSNAF | Options | Price-triggered | $0.24 | 23 Oct 2028 | 417k | Filing |
| BSNAG | Options | Price-triggered | $0.28 | 23 Oct 2028 | 417k | Filing |
| BSNAH | Options | Price-triggered | $0.32 | 23 Oct 2028 | 417k | Filing |
| BSNAI | Options | Price-triggered | $0.050 | 23 Apr 2030 | 7.5M | Filing |
| BSNAJ | Options | Price-triggered | $0.10 | 23 Apr 2030 | 7.5M | Filing |
| BSNAN | Performance rights | Condition-triggered | — | — | 61.5M | Filing Meeting |
“Nil” is a stated nil exercise price: nothing is paid to convert. An em dash means the filing names no exercise price at all. Security is read from the filing’s own class description; an em dash there means the description is not one this table labels. One row is one security class, at the number stated in the most recent quotation application that restated it — linked, and dated, in the last column. For what expires soon across other listed companies, see the options expiry calendar.
A condition-triggered class has no exercise price and usually no expiry: what it vests on is set by a shareholder resolution, not by the register. Where the company lodged a notice of meeting before the class first appears here, it is linked as “Meeting” — that is where terms of this kind are put to shareholders. It is not confirmation that the document sets this class’s conditions, and no link appears where there is no such filing.
Director dealings
| Date | Director | Type | Shares | Options | Other | Value | Source |
|---|---|---|---|---|---|---|---|
| 23 Oct 2025 | Andrew Moorhouse | Other incentive | 750k | — | 2.0M | — | 3Y notice |
| 23 Oct 2025 | Blake Steele | Other incentive | 1.2M | — | 2.0M | — | 3Y notice |
| 23 Oct 2025 | Cory Belyk | Other incentive | — | — | 2.0M | — | 3Y notice |
| 23 Oct 2025 | Matthew O'Kane | Other incentive | 200k | 2.0M | — | — | 3Y notice |
Ownership
Latest announcements
Headlines link to the source PDFs on the ASX announcements platform. Data as of 28 Oct 2026.