Seemed so familiar a story I did a quick research myself.
Not any different from so many others. Except for the "fishbones" which are interesting.

Wont bore you with all the others , sure you know them backwards. One caught my eye 

Updated 31 Jan 2019, 9:49am

New Standard Energy (NSE) was one of a number of petroleum exploration companies that rode a wave of interest in the potential of shale gas deposits in the vast Canning Basin, which underlies half-a-million square kilometres of the west Kimberley and Great Sandy Desert.

After signing a $110 million deal with ConocoPhillips at its peak in 2012, NSE has since collapsed to a share price of 0.3 cents, and with just $119,000 in the bank.

From Riches to Rags in about 7 years ! Cashburn - no result - at all !