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FIRESTONE ENERGY LIMITED - RESPONSE TO ASX PRICE AND VOLUME QUERY AND LIFTING OF TRADING HALT

Release Date: 03/09/2012 07:20
Code(s): FSE     PDF:  
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RESPONSE TO ASX PRICE AND VOLUME QUERY AND LIFTING OF TRADING HALT


FIRESTONE ENERGY LIMITED
(Incorporated in Australia)
(Registration number ABN 058 436 794)
Share code on the JSE Limited: FSE  
Share code on the ASX: FSE
ISIN: AU000000FSE6
(SA company registration number 2008/023973/10)
("FSE" or "the Company")



RESPONSE TO ASX PRICE AND VOLUME QUERY AND LIFTING OF TRADE HALT





3 September 2012

The Manager
Company Announcements
Australian Securities Exchange Limited
Level 8, Exchange Plaza
2 The Esplanade
Perth WA 6000

Attention: Fiona Murphy

Dear Ms Murphy

ASX Price and Volume Query

Further to your letter dated 30 August 2012, Firestone Energy Limited confirms the following:

    1.   Is the Company 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.

         Yes, the Company is aware of information that has not been announced that could explain the
         price and volume movement.

         The Company has made several announcements (the most recent being on 31 July 2012, within
         the quarterly report), updating the progress of a major financial restructuring, the main
         announcements being;

             •   7 May 2012 financial restructure announced;
             •   22 May 2012 Update on financial restructure;
             •   25 July Firestone signs Key Investment agreement; and
             •   23 August Firestone appoints CFO.

         The Company was informed on 1 September 2012 that Ariona Company SA, the party
         providing funding to the Company in the amount of A$40.7 million has completed technical,
         legal and financial due diligence to their satisfaction.

         The new convertible note facility is still subject to other conditions precedent, with the most
         significant being:

         1) Obtaining all necessary regulatory approvals in Australia and South Africa; and
         2) Obtaining Firestone shareholder approval to the issue and for the conversion of the new
            convertible notes to be issued to Ariona.

    2.   If the answer to question 1 is yes, can an announcement be made immediately? If not, why
         not, and when is it expected that an announcement will, be made.

         Yes, the Company will make an announcement immediately.

    3.   Is there any other explanation that the Company may have for the price and volume change
         in the securities of the Company

         The Company is not aware of any other reason for the price volume change in its securities.

    4.   Please confirm that the Company is in compliance with the listing rules and, in particular,
         listing Rule 3.1.
         The Company confirms that it is in compliance with the listing rules and in particular listing rule
         3.1.


Yours faithfully




________________

David Knox
CEO
www.firestoneenergy.com.au


SPONSOR
RIVER GROUP
3 SEPTEMBER 2012








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