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High Peak Royalties substantial holder Noontide Investments increases stake to 28.2%

With offices in Perth and Sydney, High Peak's aim is to build a portfolio of high-value resource royalties with exposure to projects in exploration, pre-production and producing phases.

High Peak Royalties Ltd - Highpeak Royalties substantial holder Noontide Investments Ltd increases stake to 28.2%
The company earns revenue through oil and gas royalties held in numerous locations

High Peak Royalties Ltd (ASX:HPR) substantial holder Noontide Investments Ltd has increased its holding in the company to 28.2% from 26.8%.

On April 30, the Sydney-based boutique investment company acquired more than 53.32 million shares under a follow-on public offering (FPO).

Energy outlook

HPR has seen a positive impact from the increased gas prices in Eastern Australia - reflected in the royalties received on the Peat Gas Field in Queensland for the December quarter of $33,000.

The company expects this trend to continue with Origin Energy Ltd (ASX:ORG) announcing that the Peat Gas field may have a significant increase in production in 2020 from extended horizontal wells and test results from the deep South Burunga-2 well.

Emmerson Resources change of interests

Emmerson Resources Ltd (ASX:ERM) also saw Noontide Investments increase its stake in the company from 16.8% to 18.2% in late April.

The change of interests in the company increased from more than 69.75 million shares to more than 77.52 million shares.

Quick facts: High Peak Royalties Ltd

Price: 0.066 AUD

ASX:HPR
Market: ASX
Market Cap: $12.47 m
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