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Additional Information

Market:	ASX
Sector:	Oil and Gas Exploration and Production
EPIC:	BOW
Latest Price:	1.51 (0.00%)
52-week High:	1.55
52-week Low:	0.74
Market Cap:	534.55M

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Bow Energy

Bow Energy (ASX: BOW) primary business is the discovery and commercial production of oil and coal seam gas fields with projects in several of Australia’s producing Basins.

Bow Energy raises $36 million in Share Purchase Plan

Tuesday, December 15, 2009

Bow Energy (ASX:BOW) has successfully raised over $36 million through a Share Purchase Plan, with the proceeds to advance the company's exploration and development activities.

The funds raised from the SPP will be used for the Blackwater Power Project and accelerate exploration and appraisal activities in the development of Bow’s coal seam gas assets across the Bowen and Surat Basins.

Bow managing director Ron Prefontaine said the significant amount of funds raised from the SPP highlighted the strong support for Bow’s growth strategy.

"The capital raising program comprising the institutional investment and SPP, along with the cash on hand, has provided Bow with over $95 million," Mr Prefontaine said.

"This will be utilised primarily to fund the Blackwater power project, initial gas field development and reserve upgrade programs across Bow’s quality CSG projects."

The final amount is subject to cheque clearances and application confirmations.

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