Sign up Australia
Proactive Investors - Run By Investors For Investors

Peak Oil and Gas raising $2.4M for Indonesia oil and gas exploration

Peak Oil and Gas raising $2.4M for Indonesia oil and gas exploration

Peak Oil and Gas (ASX: PKO) is raising up to $2.4 million to fund its exploration commitments in the South Block A production sharing contract in North Sumatra, Indonesia.

Octanex (ASX: OXX) is fully underwriting Peak’s pro-rata non-renounceable rights issue priced at $0.01 each while all of the company’s directors intend to take up their full entitlements.

The two companies are also working towards a merger that would be implemented by a Scheme of Arrangement.

This will be submitted to Peak shareholders in the first quarter of this year and will see Peak shareholders exchange their shares for Octanex shares.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.



Register here to be notified of future PKO Company articles
View full PKO profile View Profile

Peako Ltd Timeline

Newswire
February 08 2013

Related Articles

oil can with nodding donkeys in the background
March 16 2017
While it hasn’t yet, the market will eventually catch on to this mismatch between risk and potential return.
shutterstock_11305309.jpg
February 22 2017
Hillcrest Petroleum has signed a letter agreement with a Canadian oil and gas company, whereby the company will earn up to a 75% working interest and become the operator of record in two petroleum assets located in Western Canada, it said on Tuesday
Renzi-on-referendum_514417426.jpg
November 30 2016
Avanti Energy Inc sees investment opportunities, despite Italy’s looming constitutional referendum

© Proactive Investors 2017

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use