Lunch Wrap: Santos rockets, oil surges as Israel-Iran tensions fire up ASX energy stocks

News.com.au

6 hours ago

Santos rockets on $30b bid as oil fires up ASX
Gold nears record
ASIC probes ASX, as Aurizon lands BHP deal
It was a jittery start for the ASX this morning, opening in the red as global markets continued to digest the deepening crisis between Israel and Iran.
But by lunchtime, the ASX 200 index had quietly clawed its way back into positive territory, up 0.1%.
Global oil markets kicked off the week still steaming from Friday's chaos. Crude jumped 13% last week, 7% of that in just one day, and added another 1.5% this morning.
This came as Israel intensified its attacks on Iranian energy infrastructure. The fear now is that Tehran could shut down the Strait of Hormuz, the key shipping lane for about 20% of the world's oil.
If that happens, you can expect more than just petrol prices to spike, inflation could come roaring back too.
That backdrop lit a fire under local energy stocks. The sector jumped 6% on Monday, one of its biggest single-day leap in years.
Gold also crept closer to its all-time high, hitting as high as US$3450 an ounce, just shy of its April record.
But front and centre this morning was Santos (ASX:STO), rocketing 12% after confirming it had received a $30 billion takeover offer from a heavyweight Middle Eastern consortium led by Abu Dhabi's Adnoc, ADQ, and private equity firm Carlyle.
The offer lands at US$5.761 per share, or $8.89, marking a 28% premium to Friday's close, and a hefty 44% premium to its 3-month average.
The Santos board has opened the door for due diligence, and if this thing lands, it will go down as one of the year's biggest energy deals. Foreign investment concerns will dominate the talk on this one.
In other large caps news, ASIC announced it's launching a full-blown inquiry into ASX (ASX:ASX), focusing on governance, risk management, and whether the bourse has its house in order.
Not surprisingly, ASX shares dropped 6%, with investors wondering just how deep this probe might go.
And in the heavy-lifting department, Aurizon Holdings (ASX:AZJ) rose 2% after announcing a $1.5 billion contract win with BHP (ASX:BHP) to provide logistics for its South Australian copper projects over 10-15 years.
ASX SMALL CAP WINNERS
Here are the best performing ASX small cap stocks for June 16 :
Security Description Last % Volume MktCap
SRN Surefire Rescs NL 0.002 100% 2,004,907 $2,486,445
ENT Enterprise Metals 0.003 50% 1,000,000 $2,362,635
ICU Investor Centre Ltd 0.003 50% 200,328 $609,023
JNO Juno 0.036 44% 326,919 $5,230,926
EM2 Eagle Mountain 0.007 40% 1,554,948 $5,675,186
PRM Prominence Energy 0.004 33% 2,527,297 $1,167,529
8CO 8Common Limited 0.024 33% 1,279,353 $4,033,708
EAT Entertainment 0.005 25% 10,000 $5,235,144
MRD Mount Ridley Mines 0.003 25% 1,000,000 $1,556,978
MSG Mcs Services Limited 0.005 25% 175,000 $792,399
OEL Otto Energy Limited 0.005 25% 8,555,899 $19,180,039
SIS Simble Solutions 0.003 25% 10,999 $1,752,661
UBI Universal Biosensors 0.042 24% 68,082 $10,134,293
PHO Phosco Ltd 0.077 22% 95,588 $27,614,252
A11 Atlantic Lithium 0.165 22% 218,948 $93,574,887
ICG Inca Minerals Ltd 0.006 20% 5,675,253 $7,881,950
OLI Oliver'S Real Food 0.006 20% 15,000 $2,703,660
RC1 Redcastle Resources 0.006 20% 700,000 $3,717,835
PVW PVW Res Ltd 0.013 18% 315,106 $2,187,953
YAR Yari Minerals Ltd 0.013 18% 5,986,573 $6,101,826
JCS Jcurve Solutions 0.047 18% 343,790 $13,213,738
CDE Codeifai Limited 0.041 17% 2,110,842 $15,065,346
Tourism Holdings (ASX:THL) has received an unsolicited takeover offer from a group led by BGH Capital and the Trouchet family, pitching NZ$2.30 a share in cash. It's non-binding and still subject to due diligence and a final tick from BGH's investment committee. The consortium is also open to just taking a controlling stake in THL, not necessarily buying the whole lot. THL's board hasn't made a call yet.
ActivePort Group (ASX:ATV) has inked a deal to roll out its software-defined networking tech for Telekom Malaysia, one of Asia's biggest fixed-line telcos. The software will power TM's shift from old-school manual provisioning to a slick, browser-based self-service platform, slashing circuit activation times from weeks to minutes. It will go live across five countries, starting from June, and marks a big step in TM's push to become a global digital platform player
Redcastle Resources (ASX:RC1) has signed a non-binding MoU with Terra Mining to kick off contract mining at its Queen Alexandra and Redcastle Reef gold projects in WA. Terra will fund and manage all open-pit mining down to 70 metres, under a profit-sharing setup aimed at generating early cash without big upfront spend. Redcastle keeps full ownership of the gold and control over processing. A final deal is expected after updated resource estimates and permits land later this year.
Bubs Australia (ASX:BUB) confirmed it had lodged paperwork with US authorities to sell three infant formula products permanently in that market — a crucial move for a company looking to secure long-term access to American parents' wallets.
Pointsbet (ASX:PBH) told investors it had unanimously rejected a takeover proposal from Betr, suggesting the board either thinks it's worth more, or wants to keep going solo.
ASX SMALL CAP LOSERS
Here are the worst performing ASX small cap stocks for June 16 :
Code Name Price % Change Volume Market Cap
AOK Australian Oil. 0.002 -33% 15,000 $3,005,349
AXP AXP Energy Ltd 0.001 -33% 50,000 $10,027,021
BMO Bastion Minerals 0.002 -33% 1,310,000 $2,710,883
OVT Ovanti Limited 0.002 -33% 1,006,466 $9,016,545
NAE New Age Exploration 0.003 -25% 401,015 $10,637,596
AX1 Accent Group Ltd 1.400 -22% 9,237,398 $1,085,140,142
AUK Aumake Limited 0.002 -20% 12 $7,558,397
ERA Energy Resources 0.002 -20% 204,755 $1,013,490,602
JAV Javelin Minerals Ltd 0.002 -20% 122,699 $15,315,373
THR Thor Energy PLC 0.009 -18% 10,000 $7,818,688
PL3 Patagonia Lithium 0.041 -18% 80,519 $5,970,518
AD1 Adneo Limited 0.045 -17% 123,182 $7,905,975
BSN Basinenergylimited 0.015 -17% 977,951 $2,210,928
ENV Enova Mining Limited 0.008 -17% 18,790,631 $12,721,507
ERL Empire Resources 0.005 -17% 347,579 $8,903,479
FBR FBR Ltd 0.005 -17% 2,952,279 $34,136,713
GGE Grand Gulf Energy 0.003 -17% 350,926 $8,461,275
TMK TMK Energy Limited 0.003 -17% 916,212 $30,667,149
ODA Orcoda Limited 0.068 -16% 133,877 $15,188,651
CTT Cettire 0.270 -16% 21,305,436 $121,996,230
MRR Minrex Resources Ltd 0.009 -14% 1,938,452 $11,391,109
AM5 Antares Metals 0.006 -14% 1,110,000 $3,603,970
BYH Bryah Resources Ltd 0.012 -14% 14,030,546 $12,179,349
IN CASE YOU MISSED IT
Brazilian Critical Minerals (ASX:BCM) has received a clear sign the in-situ recovery trial at its Ema rare earths project is progressing as planned with the tracer reagent magnesium sulphate recorded in multiple extraction holes.
Phase 2 drilling at Nimy's (ASX:NIM) Block 3 project in WA has delivered high-grade gallium in the first four holes, confirming the potential for the asset to emerge as a standalone gallium development.
Brightstar Resources (ASX:BTR) has returned more high-grade hits from the Sandstone Hub as it looks toward a resource upgrade and pre-feasibility.
LAST ORDERS
Buxton Resources (ASX:BUX) is delving into the Centurion iron oxide copper-gold target with a maiden drilling program.
The company will deploy a drill rig to the Centurion project as soon as repairs to an existing access track are complete, expected within the next two weeks.
BUX has planned a 1000-metre vertical diamond drill hole to test a large geophysical signature, with flexibility to follow up with more drill holes if needed.
Prospect Resources (ASX:PSC) has welcomed Matt Pascal to the board as a non-executive director. As a mining engineer, he brings decades of mining industry experience, including most recently with First Quantum Minerals.
Pascal played a defining role in First Quantum's expansion in Zambia, where his operational oversight and strategic direction played a critical part in delivering mining developments.
He will support the next phase of exploration at Mumbezhi, through feasibility, development and into production.
At Stockhead, we tell it like it is. While Brazilian Critical Minerals, Brightstar Resources, Nimy Resources, Buxton Resources and Prospect Resources are Stockhead advertisers, they did not sponsor this article.