SEC Form 4 · accession 0001213900-17-000420
DEEP WELL OIL & GAS INC · DWOG
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Malik Youyou
Director · 10% Owner
Period of report
Nov 23, 2016
Accepted (ET)
Jan 18, 2017 · 12:11 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000869495
Table I — non-derivative securities
No Table I lines on this filing.
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Warrant ExpiredF1 | $0.105 | Nov 23, 2016 | J | 20,737,662 | D | Nov 9, 2010 | Nov 23, 2016 | Common Stock | 20,737,662 | 32,006,494 | D |
| Warrant ExpiredF2,F3 | $0.105 | Nov 23, 2016 | J | 31,106,494 | D | Nov 23, 2012 | Nov 23, 2016 | Common Stock | 31,106,494 | 900,000 | D |
Explanation of responses
- F1Pursuant to a subscription agreement dated November 9, 2010, Deep Well Oil & Gas, Inc. (the "Company") completed a private placement with Mr. Malik Youyou, a director of the Company, of which warrants were issued. Each warrant entitled the holder the option to purchase one common share at a price of $0.105 for a period of three years from the date of closing. On July 28, 2015, the Company's Board approved that the expiry date of the warrants be extended from November 23, 2015 to November 23, 2016. In consideration for extending the expiry date of the warrants to November 23, 2016 the Company and Mr. Youyou agreed to reduce the number of warrants from 28,571,428 to 20,737,662 with the exercise price remaining the same as the original warrant and all other terms of the warrant remaining unchanged. On November 23, 2016, 20,737,662 warrant shares previously granted to Mr. Youyou, on November 9, 2010, and subsequently amended on July 28, 2015, expired unexercised.
- F2Pursuant to a subscription agreement dated November 23, 2012, the Company closed a private placement with Mr. Youyou, a director of the Company, of which warrants were issued. Each warrant entitled the holder the option to purchase one common share at a price of $0.105 for a period of three years from the date of closing. On July 28, 2015, the Company's Board approved that the expiry date of these warrants be extended from November 23, 2015 to November 23, 2016. In consideration for extending the expiry date of the warrants to November 23, 2016 the Company and Mr. Youyou agreed to reduce the number of warrants from 42,857,142 to 31,106,494 with the exercise price remaining the same as the original warrant and all other terms of the warrant remaining unchanged. On November 23, 2016, 31,106,494 warrant shares previously granted to Mr. Youyou, on November 23, 2012, and subsequently amended on July 28, 2015, expired unexercised.
- F3Taking into effect that Mr. Youyou directly and indirectly currently has 115,206,091 shares of common stock of the Company and only if Mr. Youyou exercises all of his options to acquire an additional 900,000 shares of Deep Well's common stock, Mr. Youyou would have 50.03% of the issued and outstanding common stock of the Company. Mr. Youyou had not exercised any of these currently outstanding options and without the exercise of Mr. Youyou's outstanding options, Mr. Youyou has a 49.83% ownership of the Company's issued and outstanding common stock. Mr. Youyou currently now has no outstanding warrants of the Company.