Robinson Energy starts trading on TSXV after reverse takeover
Robinson Energy Limited commenced trading on the TSX Venture Exchange under the symbol ROB on June 22, 2026, following a reverse takeover of Cobra Venture Corporation. The transaction closed on June 17, 2026, with 16,616,262 shares issued and outstanding. The company focuses on Petroleum Retention License 62 in the Papuan Foreland and Fold Belt Basin.
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Robinson Energy Limited commenced trading on the TSX Venture Exchange under the symbol ROB on June 22, 2026, following the successful closing of its reverse takeover of Cobra Venture Corporation. The company, formerly Cobra Venture Corporation, will continue the business of Robinson Energy Limited and intends to remain listed as a Tier 2 Oil and Gas Issuer on the Exchange. This development marks the transition of the Corporation's focus to its principal asset, Petroleum Retention License 62, located in the Papuan Foreland and Fold Belt Basin.
The Corporation's principal asset is Petroleum Retention License 62, a 1,134 km² block containing several discovered gas accumulations, including the Puk Puk, Weimang, Langia, and Platypus discoveries. Robinson Energy Limited is pursuing a regional gas development strategy aimed at commercializing these resources through integrated gas field development, gathering and pipeline infrastructure, and LNG and domestic market opportunities. The head office is located in Calgary, AB.
Upon closing of the Transaction on June 17, 2026, the Corporation issued an aggregate of 14,796,887 shares to former Robinson shareholders at a deemed price of $2.00 per share. The total number of shares issued and outstanding upon listing was 16,616,262. Additionally, the Corporation adopted Robinson's option plan and granted 1,067,985 options at a $2.00 exercise price on June 17, 2026.
The options granted vest at 8.333% at the end of each financial quarter following the grant date and expire four years from the date of grant. Further details regarding the transaction are contained in the joint management information circular of Cobra and Robinson dated May 14, 2026, filed under the Corporation's profile on SEDAR+. The Exchange has not passed upon the merits of the Transaction and has neither approved nor disapproved the contents of this news release.
Share Capital Details
| Description | Details |
|---|---|
| Transaction Closing Date | June 17, 2026 |
| Shares Issued to Former Robinson Shareholders | 14,796,887 |
| Deemed Price per Share | $2.00 |
| Total Shares Issued and Outstanding | 16,616,262 |
| Options Granted | 1,067,985 |
| Option Exercise Price | $2.00 |
| Option Vesting Schedule | 8.333% per financial quarter |
| Option Expiry | 4 years from grant date |
What is the projected timeline for the Final Investment Decision (FID) regarding the development of Petroleum Retention License 62?
How will Robinson Energy secure the necessary capital for the required infrastructure, such as pipelines and LNG facilities, given the current Tier 2 listing status?
Are there specific off-take agreements currently under negotiation for the domestic market or LNG exports from the Papuan Foreland and Fold Belt Basin?
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