Companies / CRD

CONRAD ASIA ENERGY LTD.

ASX:CRDEnergy
194.6M shares on issueASX (delayed) · snapshot 11 Sept 2026196.4M fully diluted+0.9% if every option and right converts$0.57price · delayed$110.9Mmarket cap · indicative

Today’s holders own 99.1% of what they think they own, once every option and right converts.

Moderate
Dilution risk

Runway under 2 quarters; share count grew 9% in 24 months

MinimalVery high
Absolute levels — not a ranking against other companies.
Cash runway-0.7 quarters of funding
Share-count growth (24m)9.0%
Raise cadence (24m)0 cash raises
Options & rights overhang0.9% of shares
In-the-money supply0.0% of shares
Pending proposed issuesnone

CONRAD ASIA ENERGY LTD.'s ordinary share count grew 69.2% between July 2024 and July 2026, reaching 195M shares. The company has not raised capital through any cash placement, rights issue or share purchase plan in the past 24 months, and no proposed securities issues are currently pending. Options and rights on issue could convert into 2M new shares, representing 0.9% of the current share count, with the nearest expiry in September 2027; none of these options are currently in the money. As of the June 2026 quarter, the company reported A$-18.4M in available cash, covering approximately -0.6 quarters of funding based on its recent operating expenses.

AI-generated summary of this page's cited filings · updated 11 Sept 2026
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0.9%
Options & rights overhang
0.0%
In-the-money supply
0
Raises · last 12 months
-0.7 qtrs
Cash cover · under 2 quarters

Shares on issue — last 2 years

Ordinary shares on issue
Weekly counts from ASX records. Dots mark cash capital raises. Latest count 194.6M per ASX (delayed) (snapshot 11 Sept 2026).
180M185M190M195MDec 24Oct 25Sept 26194.6M

Cash runway

-0.7 qtrs
Less than two quarters of funding at the recent spend rate — near-term funding pressure.
$-18.8M cash after burn from the quarter ended 30 June 2026 · Runway is computed from Appendix 4C/5B filings and announced raise proceeds. Filed with the quarterly report: $4.8M cash at quarter end (item 4.6), 1.4 qtrs of funding on the company’s own estimate. Our figure above carries the filed quarter-end balance forward at the reported spend rate and adds announced raise proceeds.
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11 quarters on record — Cash runway history
Quarterly cash, net spend and cover trend from every Appendix 4C/5B on record up to 30 June 2026.
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Issuance timeline

Latest 5 filings (Appendix 2A quoted issues, 3G unquoted, 3H cancellations)

DateFormSecurityOn issue, per this filingSource
2 July 20262A · quoted issueCRD : CHESS DEPOSITARY INTERESTS 1:1194.6MAppendix 2A
24 June 20262A · quoted issueCRD : CHESS DEPOSITARY INTERESTS 1:1194.4MAppendix 2A
19 June 20263H · cancellationCHESS DEPOSITARY INTERESTS 1:1193.6MAppendix 3H
18 June 20262A · quoted issueCRD : CHESS DEPOSITARY INTERESTS 1:1194.0MAppendix 2A
23 Apr 20262A · quoted issueCRD : CHESS DEPOSITARY INTERESTS 1:1193.6MAppendix 2A
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17 filings on record — Full issuance history
Every quoted and unquoted issue and cancellation on record, plus unquoted securities (Appendix 4.2).
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Capital raises

No equity raises in the last 24 months.
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1 raise on record — Full raise history
Issue price, shares issued, brokers and stated purpose for every raise on record.
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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.

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1 dated event on record — Forward supply calendar
Option expiries and proposed issues on one forward timeline, with the securities each could add.
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Placement capacity

How much stock a company can place without asking holders. Listing Rule 7.1 allows 15% of ordinary securities in any 12 months, and every Appendix 3B states how much of it an issue uses.

No Appendix 3B in the last 12 months reports an issue under the 15% placement capacity (as at 2026-09-12).
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Placement capacity — LR 7.1 / 7.1A
The filings behind the figure: every Appendix 3B in the window with what it says was issued under 7.1 and 7.1A, each row linked to its filing, and how many shares are left.
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Pending proposed issues

No proposed issues (Appendix 3B) currently pending.

Options & convertible securities

0.9%
Options & rights overhang · of current shares
0.0%
In-the-money supply · at current price
1.8M
Potential new shares
Sept 2027
Nearest expiry
What this supply is, and what converts it
  • Price-triggered1.8M · 0.9% of shares
    Options and warrants — they convert when the share price clears their exercise price.
  • Condition-triggered40k · 0.0% of shares
    Performance and incentive rights — they convert when a hurdle is met, not at a price, and can lapse to nothing.

Exercise price on record: 1.8M priced, 40k 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.

What a price move would switch on
900k1.8M$0.57 now0.25× today ($0.14) — 0 of the priced supply in the money, 0.0% of shares on issue0.5× today ($0.28) — 0 of the priced supply in the money, 0.0% of shares on issue0.75× today ($0.43) — 0 of the priced supply in the money, 0.0% of shares on issue1× today ($0.57) — 0 of the priced supply in the money, 0.0% of shares on issue1.25× today ($0.71) — 0 of the priced supply in the money, 0.0% of shares on issue1.5× today ($0.85) — 1.8M of the priced supply in the money, 0.9% of shares on issue2× today ($1.14) — 1.8M of the priced supply in the money, 0.9% of shares on issue3× today ($1.71) — 1.8M of the priced supply in the money, 0.9% of shares on issue5× today ($2.85) — 1.8M of the priced supply in the money, 0.9% of shares on issue10× today ($5.70) — 1.8M of the priced supply in the money, 0.9% of shares on issue0.25×0.5×0.75×now1.25×1.5×2×3×5×10×

At $0.57 today, 0 securities are in the money (0.0% of shares on issue). No more priced supply until 1.5× today’s price, which takes it to 1.8M (0.9% 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.
  • 40k (2.2% 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.
CodeSecurityTypeExercise priceExpiryOn issueSource
CRDAFWarrantsPrice-triggered$0.8125 Sept 20271.8MFiling
CRDAGRightsCondition-triggered——40kFiling 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.

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.

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2 option lines on record — In-the-money value & price ladder
What each line is worth in the money today, the price ladder to the next tranche that converts, and the filing description behind every code.
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Director dealings

DateDirectorTypeSharesOptionsOtherValueSource
1 July 2026Jeremy BrestOther93k320k——3Y notice
19 June 2026Paul BernardOther93k———3Y notice
19 June 2026Paul BernardOther185k320k——3Y notice
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12 notices on record — Full dealing history
Every change-of-director's-interest notice on record, with direction and consideration.
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Ownership

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Top-20 holders & substantial holder notices
Top-20 register snapshot and substantial-holder movements, each linked to its source notice.
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Latest announcements

10 Sept 2026Half Yearly Report - 2026 H1
9 Sept 2026$PCompletion of Duyung Farm Down
26 July 2026$PQuarterly Activities Report & Appendix 5B - 2026 Q2
7 July 2026Cleansing Notice
7 July 2026Change of Director's Interests Notice - P Bernard
7 July 2026Change of Director's Interests Notice - J Brest
2 July 2026Application for quotation of securities - CRD
29 June 2026Presentation - Developing the fully funded Mako Gas Project
25 June 2026Cleansing Notice
24 June 2026Change of Director's Interests Notice
24 June 2026Cleansing Notice
24 June 2026Application for quotation of securities - CRD
22 June 2026West Natuna Connected to Indonesia
21 June 2026Execution of Mako Conductor Support Frame Contract
21 June 2026Execution of Mako Mobile Offshore Production Unit Contract
19 June 2026Notification of cessation of securities - CRD
19 June 2026Change of Director's Interests Notice - P Bernard
19 June 2026Change of Director's Interests Notice - J Brest
19 June 2026Change of Director's Interest Notice - M Xynogalas
19 June 2026Change of Director's Interests Notice - M Traviati

Headlines link to the source PDFs on the ASX announcements platform. Data as of 12 Sept 2026.