Sign up Australia
Proactive Investors - Run By Investors For Investors

Oil Basins raises funds for working capital

Oil Basins raises funds for working capital

Oil Basins (ASX:OBL) has raised $437,500 through a placement of shares for general working capital purposes and to maintain or assist its leverage to attractive and highly prospective assets within its portfolio.

Notably, the placement of 35 million shares to professional investors was priced at $0.0125 each, a 35% premium to its recent trading price.

The company was recently granted petroleum exploration permit EP487 and has started initial work.

It has also finalised all environmental submissions relating to the Backreef Area.

 

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.

View full OBL profile View Profile

Oil Basins Timeline

Newswire
January 07 2015
Newswire
September 16 2014
Newswire
December 20 2013

Related Articles

oil workers
February 14 2017
"Regaining momentum in our Trinidad production and business development activities is a key objective for the company in early 2017,” said chief executive Neil Ritson.
Tendrara, onshore Morocco well
July 03 2017
Badile had for a long time been seen as the primary value catalyst for Sound, but that was before the AIM-quoted explorer succeeded with the Tendrara asset.
rubbish tip
August 01 2017
Its G3-UHt system transforms rubbish into electricity with no toxic by-products and effectively zero greenhouse gases

© 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