Wolf Petroleum Ltd (WOF AU)

Year: 2017

Wolf Petroleum was a Mongolian oil and gas exploration company which listed on the Australian Stock Exchange (ASX) in March 2006. In October 2017, the company's joint secretaries resigned leading to the automatic suspension of its shares owing to a lack of resident directors. The next month, the ASX questioned Wolf's ability to fund its operations given its cash burn. The company responded that its largest shareholder was in the process of extending a loan and it was looking at other fund raising opportunities. Upon the appointment of a resident director, the company’s shares resumed trading in December. Just five months later, in May 2018, the ASX again questioned the company's cash burn. A week later, the ASX suspended trading pending a response to its enquiries. Wolf claimed that it had raised funds and was still in discussions with potential capital providers. Its shares resumed trading once more. In early August 2018, one of the resident directors resigned and the company's shares were again suspended. Later than month, the company secretary and another director notified the exchange that they had resigned although there had been no notification from the company. The company failed to respond to ASX enquiries and was delisted in November 2018.

Last updated May 2022.

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